EX-1 41 ms07c103.htm
Morgan Stanley ABS Capital I Inc. Series 2007-NC1
Mortgage Pass-Through Certificates
March 26, 2007 Distribution
External Parties Table of Contents
Page
Seller
1. Certificate Payment Report 2
Morgan Stanley
2. Collection Account Report 5
3. Credit Enhancement Report 7
Servicer(s)
4. Collateral Report 8
Saxon
5. Delinquency Report 11
Countrywide Home Loans Serv 6. REO Report 14
7. Foreclosure Report 15
Underwriter(s)
8. Prepayment Report 16
Morgan Stanley 9. Prepayment Detail Report 19
Countrywide Securities 10. Realized Loss Report 21
11. Realized Loss Detail Report 24
12. Triggers and Adj. Cert. Report 25
13. Additional Certificate Report 26
14. Other Related Information 27
Total Number of Pages 27
Dates Contacts
Cut-Off Date: January 01, 2007 Alice Tatusian
Close Date: January 26, 2007 Administrator
First Distribution Date: February 26, 2007 (714) 247-6420
Alice.D.Tatusian@db.com
Address:
Distribution Date: March 26, 2007
1761 East St. Andrew Place, Santa Ana, CA 92705
Record Date: February 28, 2007
Factor Information: (800) 735-7777
March 23, 2007 Main Phone Number: (714) 247-6000
Determination Date: March 14, 2007
https://www.tss.db.com/invr
Page 1 of 27
Morgan Stanley ABS Capital I Inc. Series 2007-NC1
Mortgage Pass-Through Certificates
March 26, 2007 Distribution
Certificate Payment Report
Current Period Distribution - REMIC 3
Prior Current
Class Original Principal Total Realized Deferred Principal
Class Type Face Value Balance Interest Principal Distribution Loss Interest Balance
(1) (2) (3) (4)=(2)+(3) (5) (6) (7)=(1)-(3)-(5)+(6)
A-1 INT 320,559,000.00 314,182,695.19 1,331,785.54 5,372,797.08 6,704,582.62 0.00 0.00 308,809,898.11
A-2A INT 326,940,000.00 315,146,787.26 1,316,263.08 13,088,931.61 14,405,194.69 0.00 0.00 302,057,855.65
A-2B INT 101,690,000.00 101,690,000.00 428,679.84 0.00 428,679.84 0.00 0.00 101,690,000.00
A-2C INT 135,180,000.00 135,180,000.00 574,064.40 0.00 574,064.40 0.00 0.00 135,180,000.00
A-2D INT 84,385,000.00 84,385,000.00 363,605.59 0.00 363,605.59 0.00 0.00 84,385,000.00
M-1 INT 50,000,000.00 50,000,000.00 217,000.00 0.00 217,000.00 0.00 0.00 50,000,000.00
M-2 INT 58,125,000.00 58,125,000.00 252,714.58 0.00 252,714.58 0.00 0.00 58,125,000.00
M-3 INT 19,375,000.00 19,375,000.00 84,690.28 0.00 84,690.28 0.00 0.00 19,375,000.00
M-4 INT 25,000,000.00 25,000,000.00 110,833.33 0.00 110,833.33 0.00 0.00 25,000,000.00
M-5 INT 23,750,000.00 23,750,000.00 105,661.11 0.00 105,661.11 0.00 0.00 23,750,000.00
M-6 INT 13,750,000.00 13,750,000.00 61,706.94 0.00 61,706.94 0.00 0.00 13,750,000.00
B-1 INT 20,000,000.00 20,000,000.00 97,533.33 0.00 97,533.33 0.00 0.00 20,000,000.00
B-2 INT 9,375,000.00 9,375,000.00 49,729.17 0.00 49,729.17 0.00 0.00 9,375,000.00
B-3 INT 15,625,000.00 15,625,000.00 91,996.53 0.00 91,996.53 0.00 0.00 15,625,000.00
B-4 INT 10,625,000.00 10,625,000.00 62,557.64 0.00 62,557.64 0.00 0.00 10,625,000.00
X INT_EXE 35,628,862.00 35,625,226.92 2,914,940.74 0.00 2,914,940.74 0.00 0.00 35,625,226.92
P INT_EXE 100.00 100.00 267,786.77 0.00 267,786.77 0.00 0.00 100.00
R RES_EXE 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
R-X RES_EXE 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total 1,250,007,962.00 1,231,834,809.37 8,331,548.87 18,461,728.69 26,793,277.56 0.00 0.00 1,213,373,080.68
Page 2 of 27
Morgan Stanley ABS Capital I Inc. Series 2007-NC1
Mortgage Pass-Through Certificates
March 26, 2007 Distribution
Interest Accrual Detail Current Period Factor Information per $1,000 of Original Face Value
Orig. Principal Prior Current
Period Period (with Notional) Principal Total Principal
Class Starting Ending Method Cusip Balance Balance Interest Principal Distribution Balance
(1) (1) (2) (3) (4)=(2)+(3) (5)
A-1 02/26/07 03/25/07 A-Act/360 617505AA0 320,559,000.00 980.108795 4.154572 16.760712 20.915284 963.348083
A-2A 02/26/07 03/25/07 A-Act/360 617505AB8 326,940,000.00 963.928511 4.026008 40.034660 44.060668 923.893851
A-2B 02/26/07 03/25/07 A-Act/360 617505AC6 101,690,000.00 1,000.000000 4.215556 0.000000 4.215556 1,000.000000
A-2C 02/26/07 03/25/07 A-Act/360 617505AD4 135,180,000.00 1,000.000000 4.246667 0.000000 4.246667 1,000.000000
A-2D 02/26/07 03/25/07 A-Act/360 617505AE2 84,385,000.00 1,000.000000 4.308889 0.000000 4.308889 1,000.000000
M-1 02/26/07 03/25/07 A-Act/360 617505AF9 50,000,000.00 1,000.000000 4.340000 0.000000 4.340000 1,000.000000
M-2 02/26/07 03/25/07 A-Act/360 617505AG7 58,125,000.00 1,000.000000 4.347778 0.000000 4.347778 1,000.000000
M-3 02/26/07 03/25/07 A-Act/360 617505AH5 19,375,000.00 1,000.000000 4.371111 0.000000 4.371111 1,000.000000
M-4 02/26/07 03/25/07 A-Act/360 617505AJ1 25,000,000.00 1,000.000000 4.433333 0.000000 4.433333 1,000.000000
M-5 02/26/07 03/25/07 A-Act/360 617505AK8 23,750,000.00 1,000.000000 4.448889 0.000000 4.448889 1,000.000000
M-6 02/26/07 03/25/07 A-Act/360 617505AL6 13,750,000.00 1,000.000000 4.487777 0.000000 4.487777 1,000.000000
B-1 02/26/07 03/25/07 A-Act/360 617505AM4 20,000,000.00 1,000.000000 4.876667 0.000000 4.876667 1,000.000000
B-2 02/26/07 03/25/07 A-Act/360 617505AN2 9,375,000.00 1,000.000000 5.304445 0.000000 5.304445 1,000.000000
B-3 02/26/07 03/25/07 A-Act/360 617505AP7 15,625,000.00 1,000.000000 5.887778 0.000000 5.887778 1,000.000000
B-4 02/26/07 03/25/07 A-Act/360 617505AQ5 10,625,000.00 1,000.000000 5.887778 0.000000 5.887778 1,000.000000
X 35,628,862.00 999.897974 81.814029 0.000000 81.814029 999.897974
P 100.00 1,000.000000 2,677,867.700000 0.000000 2,677,867.700000 1,000.000000
R 0.00 0.000000 0.000000 0.000000 0.000000 0.000000
R-X 0.00 0.000000 0.000000 0.000000 0.000000 0.000000
Page 3 of 27
Morgan Stanley ABS Capital I Inc. Series 2007-NC1
Mortgage Pass-Through Certificates
March 26, 2007 Distribution
Distribution to Date - REMIC 3
Current
Original Unscheduled Scheduled Total Total Realized Deferred Principal
Class Face Value Interest Principal Principal Principal Distribution Loss Interest Balance
(1) (2) (3) (4) (5)=(3)+(4) (6)=(2)+(5) (7) (8) (9)=(1)-(5)-(7)+(8)
A-1 320,559,000.00 2,836,186.74 11,464,108.06 284,993.84 11,749,101.89 14,585,288.63 0.00 0.00 308,809,898.11
A-2A 326,940,000.00 2,828,088.13 24,279,411.01 602,733.33 24,882,144.35 27,710,232.47 0.00 0.00 302,057,855.65
A-2B 101,690,000.00 903,289.67 0.00 0.00 0.00 903,289.67 0.00 0.00 101,690,000.00
A-2C 135,180,000.00 1,209,635.70 0.00 0.00 0.00 1,209,635.70 0.00 0.00 135,180,000.00
A-2D 84,385,000.00 766,168.92 0.00 0.00 0.00 766,168.92 0.00 0.00 84,385,000.00
M-1 50,000,000.00 457,250.00 0.00 0.00 0.00 457,249.91 0.00 0.00 50,000,000.00
M-2 58,125,000.00 532,505.73 0.00 0.00 0.00 532,505.73 0.00 0.00 58,125,000.00
M-3 19,375,000.00 178,454.52 0.00 0.00 0.00 178,454.52 0.00 0.00 19,375,000.00
M-4 25,000,000.00 233,541.66 0.00 0.00 0.00 233,541.66 0.00 0.00 25,000,000.00
M-5 23,750,000.00 222,643.05 0.00 0.00 0.00 222,643.05 0.00 0.00 23,750,000.00
M-6 13,750,000.00 130,025.34 0.00 0.00 0.00 130,025.34 0.00 0.00 13,750,000.00
B-1 20,000,000.00 205,516.66 0.00 0.00 0.00 205,516.66 0.00 0.00 20,000,000.00
B-2 9,375,000.00 104,786.46 0.00 0.00 0.00 104,786.46 0.00 0.00 9,375,000.00
B-3 15,625,000.00 193,849.83 0.00 0.00 0.00 193,849.83 0.00 0.00 15,625,000.00
B-4 10,625,000.00 131,817.88 0.00 0.00 0.00 131,817.88 0.00 0.00 10,625,000.00
X 35,628,862.00 5,320,105.14 3,546.09 88.98 3,635.08 5,323,740.22 0.00 0.00 35,625,226.92
P 100.00 383,793.21 0.00 0.00 0.00 383,793.21 0.00 0.00 100.00
R 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
R-X 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total 1,250,007,962.00 16,637,658.64 35,747,065.16 887,816.15 36,634,881.32 53,272,539.86 0.00 0.00 1,213,373,080.68
Interest Detail - REMIC 3
Pass Prior Principal Non- Prior Unscheduled Paid or Current
Through (with Notional) Accrued Supported Unpaid Interest Optimal Deferred Unpaid
Class Rate Balance Interest Interest SF Interest Adjustment Interest Interest Interest
(1) (2) (3) (4) (5)=(1)-(2)+(3)+(4) (6) (7)=(5)-(6)
A-1 5.45000% 314,182,695.19 1,331,785.54 0.00 0.00 0.00 1,331,785.54 1,331,785.54 0.00
A-2A 5.37000% 315,146,787.26 1,316,263.08 0.00 0.00 0.00 1,316,263.08 1,316,263.08 0.00
A-2B 5.42000% 101,690,000.00 428,679.84 0.00 0.00 0.00 428,679.84 428,679.84 0.00
A-2C 5.46000% 135,180,000.00 574,064.40 0.00 0.00 0.00 574,064.40 574,064.40 0.00
A-2D 5.54000% 84,385,000.00 363,605.59 0.00 0.00 0.00 363,605.59 363,605.59 0.00
M-1 5.58000% 50,000,000.00 217,000.00 0.00 0.00 0.00 217,000.00 217,000.00 0.00
M-2 5.59000% 58,125,000.00 252,714.58 0.00 0.00 0.00 252,714.58 252,714.58 0.00
M-3 5.62000% 19,375,000.00 84,690.28 0.00 0.00 0.00 84,690.28 84,690.28 0.00
M-4 5.70000% 25,000,000.00 110,833.33 0.00 0.00 0.00 110,833.33 110,833.33 0.00
M-5 5.72000% 23,750,000.00 105,661.11 0.00 0.00 0.00 105,661.11 105,661.11 0.00
M-6 5.77000% 13,750,000.00 61,706.94 0.00 0.00 0.00 61,706.94 61,706.94 0.00
B-1 6.27000% 20,000,000.00 97,533.33 0.00 0.00 0.00 97,533.33 97,533.33 0.00
B-2 6.82000% 9,375,000.00 49,729.17 0.00 0.00 0.00 49,729.17 49,729.17 0.00
B-3 7.57000% 15,625,000.00 91,996.53 0.00 0.00 0.00 91,996.53 91,996.53 0.00
B-4 7.57000% 10,625,000.00 62,557.64 0.00 0.00 0.00 62,557.64 62,557.64 0.00
X 98.18685% 35,625,226.92 0.00 0.00 0.00 0.00 0.00 2,914,940.74 0.00
P 3,213,441.24000% 100.00 0.00 0.00 0.00 0.00 0.00 267,786.77 0.00
R 0.00000% 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
R-X 0.00000% 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total 1,231,834,809.37 5,148,821.36 0.00 0.00 0.00 5,148,821.36 8,331,548.87 0.00
Page 4 of 27
Morgan Stanley ABS Capital I Inc. Series 2007-NC1
Mortgage Pass-Through Certificates
March 26, 2007 Distribution
Collection Account Report
SUMMARY
Group 2 Group 1 Total
Principal Collections 13,088,931.60 5,372,797.08 18,461,728.68
Principal Withrawals 0.00 0.00 0.00
Principal Other Accounts 0.00 0.00 0.00
TOTAL NET PRINCIPAL 13,088,931.60 5,372,797.08 18,461,728.68
Interest Collections 5,515,374.25 2,766,936.23 8,282,310.48
Interest Withdrawals -0.00 -0.00 -0.00
Interest Other Accounts 115,001.54 152,785.23 267,786.77
Interest Fees -145,382.88 -73,165.49 -218,548.37
TOTAL NET INTEREST 5,484,992.91 2,846,555.97 8,331,548.88
TOTAL AVAILABLE FUNDS FOR DISTRIBUTION 18,573,924.51 8,219,353.05 26,793,277.56
PRINCIPAL - COLLECTIONS
Group 2 Group 1 Total
Scheduled Principal Received 297,498.51 145,493.84 442,992.35
Prepayments In Full 12,638,807.76 5,215,415.58 17,854,223.34
Curtailments 152,625.33 11,887.66 164,512.99
Liquidations 0.00 0.00 0.00
Insurance Principal 0.00 0.00 0.00
Repurchased Principal Amounts 0.00 0.00 0.00
Other Principal 0.00 0.00 0.00
Total Realized Loss Of Principal -0.00 -0.00 -0.00
Delinquent Principal -166,286.43 -84,242.71 -250,529.14
Advanced Principal 166,286.43 84,242.71 250,529.14
TOTAL PRINCIPAL COLLECTED 13,088,931.60 5,372,797.08 18,461,728.68
PRINCIPAL - WITHDRAWALS
SPACE INTENTIONALLY LEFT BLANK
PRINCIPAL - OTHER ACCOUNTS
Group 2 Group 1 Total
Closing Deposit 0.00 0.00 0.00
TOTAL OTHER ACCOUNTS PRINCIPAL 0.00 0.00 0.00
Page 5 of 27
Morgan Stanley ABS Capital I Inc. Series 2007-NC1
Mortgage Pass-Through Certificates
March 26, 2007 Distribution
INTEREST - COLLECTIONS
Group 2 Group 1 Total
Scheduled Interest 5,716,043.35 2,864,678.76 8,580,722.11
Liquidation Interest 0.00 0.00 0.00
Repurchased Interest 0.00 0.00 0.00
Insurance Interest 0.00 0.00 0.00
Other Interest 0.00 0.00 0.00
Relief Act Interest Shortfalls -0.00 -0.00 -0.00
Prepayment Interest Shortfalls -11,791.14 -5,718.29 -17,509.43
Compensating Interest 11,791.14 5,718.29 17,509.42
Delinquent Interest -3,374,144.75 -1,674,072.70 -5,048,217.45
Interest Advanced 3,173,475.65 1,576,330.17 4,749,805.82
Interest Loss -0.00 -0.00 -0.00
TOTAL INTEREST COLLECTED 5,515,374.25 2,766,936.23 8,282,310.48
INTEREST - WITHDRAWALS
Group 2 Group 1 Total
Nonrecoverable Advances 0.00 0.00 0.00
TOTAL INTEREST WITHDRAWALS 0.00 0.00 0.00
INTEREST - OTHER ACCOUNTS
Group 2 Group 1 Total
Prepayment Charges 115,001.54 152,785.23 267,786.77
Net Interest Rate Swap Receipt 0.00
Net Interest Rate Swap Payment 0.00
Swap Termination Payments 0.00
Defaulted Swap Termination Payments 0.00
Cap Payment 0.00
TOTAL INTEREST OTHER ACCOUNTS 115,001.54 152,785.23 267,786.77
INTEREST FEES
Group 2 Group 1 Total
Current Servicing Fees 142,909.12 71,943.75 214,852.87
Current Trustee Fees 2,473.76 1,221.74 3,695.50
TOTAL INTEREST OTHER FEES 145,382.88 73,165.49 218,548.37
Page 6 of 27
Morgan Stanley ABS Capital I Inc. Series 2007-NC1
Mortgage Pass-Through Certificates
March 26, 2007 Distribution
Credit Enhancement Report
ACCOUNTS
RESERVE ACCOUNT
Beginning Balance 0.00
Fund Deposits 0.00
Fees & Expenses 0.00
Fund Withdrawals 0.00
Ending Account Balance 0.00
SWAP ACCOUNT
Beginning Balance 0.00
Fund Deposits 0.00
Fees & Expenses 0.00
Fund Withdrawals 0.00
Ending Account Balance 0.00
INSURANCE
SPACE INTENTIONALLY LEFT BLANK
STRUCTURAL FEATURES
Group 2 Group 1 Total
Specified Subordinated Target Amount 35,625,226.92
Subordinated Amount 35,625,226.92
Subordinated Deficiency Amount 0.00
Subordinated Release Amount 0.00
Monthly Excess Spread 2,914,940.75
Page 7 of 27
Morgan Stanley ABS Capital I Inc. Series 2007-NC1
Mortgage Pass-Through Certificates
March 26, 2007 Distribution
Collateral Report
COLLATERAL
Group 2 Group 1 Total
Loan Count:
Original 4,134 2,412 6,546
Prior 4,087 2,382 6,469
Prefunding 0 0 0
Scheduled Paid Offs -0 -0 -0
Full Voluntary Prepayments -53 -24 -77
Repurchases -0 -0 -0
Liquidations -0 -0 -0
Current 4,034 2,358 6,392
Principal Balance:
Original 836,382,226.85 413,622,062.08 1,250,004,288.93
Prior 824,587,727.85 407,247,081.51 1,231,834,809.36
Prefunding 0.00 0.00 0.00
Scheduled Principal -297,498.51 -145,493.84 -442,992.35
Partial Prepayments -152,625.33 -11,887.66 -164,512.99
Full Voluntary Prepayments -12,638,807.76 -5,215,415.58 -17,854,223.34
Repurchases -0.00 -0.00 -0.00
Liquidations -0.00 -0.00 -0.00
Current 811,498,796.25 401,874,284.43 1,213,373,080.68
PREFUNDING
SPACE INTENTIONALLY LEFT BLANK
Page 8 of 27
Morgan Stanley ABS Capital I Inc. Series 2007-NC1
Mortgage Pass-Through Certificates
March 26, 2007 Distribution
CHARACTERISTICS
Group 2 Group 1 Total
Weighted Average Coupon Original 8.32595% 8.44721% 8.36607%
Weighted Average Coupon Prior 8.32595% 8.44721% 8.36607%
Weighted Average Coupon Current 8.31840% 8.44110% 8.35897%
Weighted Average Months to Maturity Original 354 353 354
Weighted Average Months to Maturity Prior 354 353 354
Weighted Average Months to Maturity Current 353 353 353
Weighted Avg Remaining Amortization Term Original 407 411 408
Weighted Avg Remaining Amortization Term Prior 407 411 408
Weighted Avg Remaining Amortization Term Current 405 410 407
Weighted Average Seasoning Original 4.81 4.78 4.80
Weighted Average Seasoning Prior 4.81 4.78 4.80
Weighted Average Seasoning Current 5.81 5.78 5.80
Page 9 of 27
Morgan Stanley ABS Capital I Inc. Series 2007-NC1
Mortgage Pass-Through Certificates
March 26, 2007 Distribution
ARM CHARACTERISTICS
Group 2 Group 1 Total
Weighted Average Margin Original 6.18565% 6.23819% 6.20305%
Weighted Average Margin Prior 6.18565% 6.23819% 6.20305%
Weighted Average Margin Current 6.18420% 6.23883% 6.20227%
Weighted Average Max Rate Original 15.14706% 15.42747% 15.23993%
Weighted Average Max Rate Prior 15.14706% 15.42747% 15.23993%
Weighted Average Max Rate Current 15.13883% 15.41949% 15.23163%
Weighted Average Min Rate Original 8.15329% 8.43060% 8.24514%
Weighted Average Min Rate Prior 8.15329% 8.43060% 8.24514%
Weighted Average Min Rate Current 8.14516% 8.42267% 8.23692%
Weighted Average Cap Up Original 1.49754% 1.49877% 1.49795%
Weighted Average Cap Up Prior 1.49754% 1.49877% 1.49795%
Weighted Average Cap Up Current 1.49750% 1.49875% 1.49792%
Weighted Average Cap Down Original 1.49754% 1.49877% 1.49795%
Weighted Average Cap Down Prior 1.49754% 1.49877% 1.49795%
Weighted Average Cap Down Current 1.49750% 1.49875% 1.49792%
SERVICING FEES & ADVANCES
Group 2 Group 1 Total
Current Servicing Fees 142,909.12 71,943.75 214,852.87
Delinquent Servicing Fees 200,669.11 97,742.53 298,411.64
TOTAL SERVICING FEES 343,578.23 169,686.29 513,264.52
Compensating Interest -11,791.14 -5,718.29 -17,509.42
Delinquent Servicing Fees -200,669.11 -97,742.53 -298,411.64
COLLECTED SERVICING FEES 131,117.99 66,225.47 197,343.46
Total Advanced Interest 3,173,475.65 1,576,330.17 4,749,805.82
Total Advanced Principal 166,286.43 84,242.71 250,529.14
Aggregate Advances with respect to this Distribution 3,339,762.08 1,660,572.88 5,000,334.96
ADDITIONAL COLLATERAL INFORMATION
Group 2 Group 1 Total
Net Prepayment Interest Shortfall 0.00 0.00 0.00
Pool Factor 96.879209% 97.015956% 97.069200%
Page 10 of 27
Morgan Stanley ABS Capital I Inc. Series 2007-NC1
Mortgage Pass-Through Certificates
March 26, 2007 Distribution
Delinquency Report
TOTAL <31 Days 31-60 Days 61-90 Days 91-120 Days 121-150 Days 151-180 Days 181-210 Days 211-240 Days 240+ Days TOTAL
DELINQUENT Balance % Balance # Loans % # Loans
32,650,422.73 22,269,566.42 6,949,360.23 0.00 0.00 0.00 0.00 0.00 61,869,349.38
2.69% 1.84% 0.57% 0.00% 0.00% 0.00% 0.00% 0.00% 5.10%
160 103 38 0 0 0 0 0 301
2.50% 1.61% 0.59% 0.00% 0.00% 0.00% 0.00% 0.00% 4.71%
FORECLOSURE Balance % Balance # Loans % # Loans
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% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
0 0 0 0 0 0 0 0 0 0
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
BANKRUPTCY Balance % Balance # Loans % # Loans
101,763.68 0.00 260,763.29 251,482.18 0.00 0.00 0.00 0.00 0.00 614,009.15
0.01% 0.00% 0.02% 0.02% 0.00% 0.00% 0.00% 0.00% 0.00% 0.05%
1 0 1 1 0 0 0 0 0 3
0.02% 0.00% 0.02% 0.02% 0.00% 0.00% 0.00% 0.00% 0.00% 0.05%
REO Balance % Balance # Loans % # Loans
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% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
0 0 0 0 0 0 0 0 0 0
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
TOTAL Balance % Balance # Loans % # Loans
101,763.68 32,650,422.73 22,530,329.71 7,200,842.41 0.00 0.00 0.00 0.00 0.00 62,483,358.53
0.01% 2.69% 1.86% 0.59% 0.00% 0.00% 0.00% 0.00% 0.00% 5.15%
1 160 104 39 0 0 0 0 0 304
0.02% 2.50% 1.63% 0.61% 0.00% 0.00% 0.00% 0.00% 0.00% 4.76%
Page 11 of 27
Morgan Stanley ABS Capital I Inc. Series 2007-NC1
Mortgage Pass-Through Certificates
March 26, 2007 Distribution
GROUP 1 <31 Days 31-60 Days 61-90 Days 91-120 Days 121-150 Days 151-180 Days 181-210 Days 211-240 Days 240+ Days TOTAL
DELINQUENT Balance % Balance # Loans % # Loans
10,122,916.93 4,519,107.52 2,162,299.29 0.00 0.00 0.00 0.00 0.00 16,804,323.74
2.52% 1.12% 0.54% 0.00% 0.00% 0.00% 0.00% 0.00% 4.18%
59 27 14 0 0 0 0 0 100
2.50% 1.15% 0.59% 0.00% 0.00% 0.00% 0.00% 0.00% 4.24%
FORECLOSURE Balance % Balance # Loans % # Loans
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% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
0 0 0 0 0 0 0 0 0 0
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
BANKRUPTCY Balance % Balance # Loans % # Loans
0.00 0.00 260,763.29 251,482.18 0.00 0.00 0.00 0.00 0.00 512,245.47
0.00% 0.00% 0.06% 0.06% 0.00% 0.00% 0.00% 0.00% 0.00% 0.13%
0 0 1 1 0 0 0 0 0 2
0.00% 0.00% 0.04% 0.04% 0.00% 0.00% 0.00% 0.00% 0.00% 0.08%
REO Balance % Balance # Loans % # Loans
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% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
0 0 0 0 0 0 0 0 0 0
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
TOTAL Balance % Balance # Loans % # Loans
0.00 10,122,916.93 4,779,870.81 2,413,781.47 0.00 0.00 0.00 0.00 0.00 17,316,569.21
0.00% 2.52% 1.19% 0.60% 0.00% 0.00% 0.00% 0.00% 0.00% 4.31%
0 59 28 15 0 0 0 0 0 102
0.00% 2.50% 1.19% 0.64% 0.00% 0.00% 0.00% 0.00% 0.00% 4.33%
Page 12 of 27
Morgan Stanley ABS Capital I Inc. Series 2007-NC1
Mortgage Pass-Through Certificates
March 26, 2007 Distribution
GROUP 2 <31 Days 31-60 Days 61-90 Days 91-120 Days 121-150 Days 151-180 Days 181-210 Days 211-240 Days 240+ Days TOTAL
DELINQUENT Balance % Balance # Loans % # Loans
22,527,505.80 17,750,458.90 4,787,060.94 0.00 0.00 0.00 0.00 0.00 45,065,025.64
2.78% 2.19% 0.59% 0.00% 0.00% 0.00% 0.00% 0.00% 5.55%
101 76 24 0 0 0 0 0 201
2.50% 1.88% 0.59% 0.00% 0.00% 0.00% 0.00% 0.00% 4.98%
FORECLOSURE Balance % Balance # Loans % # Loans
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% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
0 0 0 0 0 0 0 0 0 0
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
BANKRUPTCY Balance % Balance # Loans % # Loans
101,763.68 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 101,763.68
0.01% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.01%
1 0 0 0 0 0 0 0 0 1
0.02% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.02%
REO Balance % Balance # Loans % # Loans
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% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
0 0 0 0 0 0 0 0 0 0
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
TOTAL Balance % Balance # Loans % # Loans
101,763.68 22,527,505.80 17,750,458.90 4,787,060.94 0.00 0.00 0.00 0.00 0.00 45,166,789.32
0.01% 2.78% 2.19% 0.59% 0.00% 0.00% 0.00% 0.00% 0.00% 5.57%
1 101 76 24 0 0 0 0 0 202
0.02% 2.50% 1.88% 0.59% 0.00% 0.00% 0.00% 0.00% 0.00% 5.01%
Page 13 of 27
Morgan Stanley ABS Capital I Inc. Series 2007-NC1
Mortgage Pass-Through Certificates
March 26, 2007 Distribution
REO Report
Loan Number Original Stated Current State & First
& Principal Principal Paid to Note LTV at Original Payment
Loan Group Balance Balance Date Rate Origination Term Date
Page 14 of 27
Morgan Stanley ABS Capital I Inc. Series 2007-NC1
Mortgage Pass-Through Certificates
March 26, 2007 Distribution
Foreclosure Report
Loan Number Original Stated Current State & First
& Principal Principal Paid to Note LTV at Original Payment
Loan Group Balance Balance Date Rate Origination Term Date
Page 15 of 27
Morgan Stanley ABS Capital I Inc. Series 2007-NC1
Mortgage Pass-Through Certificates
March 26, 2007 Distribution
Prepayment Report
VOLUNTARY PREPAYMENTS
Group 2 Group 1 Total
Current
Number of Paid in Full Loans 53 24 77
Number of Repurchased Loans 0 0 0
Total Number of Loans Prepaid in Full 53 24 77
Curtailments Amount 152,625.33 11,887.66 164,512.99
Paid in Full Balance 12,638,807.76 5,215,415.58 17,854,223.34
Repurchased Loans Balance 0.00 0.00 0.00
Total Prepayment Amount 12,791,433.09 5,227,303.24 18,018,736.33
Cumulative
Number of Paid in Full Loans 100 54 154
Number of Repurchased Loans 0 0 0
Total Number of Loans Prepaid in Full 100 54 154
Paid in Full Balance 24,098,107.18 11,326,876.44 35,424,983.62
Repurchased Loans Balance 0.00 0.00 0.00
Curtailments Amount 188,428.92 129,979.56 318,408.48
Total Prepayment Amount 24,286,536.10 11,456,856.00 35,743,392.10
Page 16 of 27
Morgan Stanley ABS Capital I Inc. Series 2007-NC1
Mortgage Pass-Through Certificates
March 26, 2007 Distribution
VOLUNTARY PREPAYMENTS RATES
Group 2 Group 1 Total
SMM 1.55% 1.28% 1.46%
3 Months Avg SMM 1.46% 1.40% 1.44%
12 Months Avg SMM 1.46% 1.40% 1.44%
Avg SMM Since Cut-off 1.46% 1.40% 1.44%
CPR 17.11% 14.37% 16.21%
3 Months Avg CPR 16.21% 15.52% 15.98%
12 Months Avg CPR 16.21% 15.52% 15.98%
Avg CPR Since Cut-off 16.21% 15.52% 15.98%
PSA 1,473.11% 1,242.36% 1,397.84%
3 Months Avg PSA Approximation 1,526.31% 1,468.88% 1,507.42%
12 Months Avg PSA Approximation 1,526.31% 1,468.88% 1,507.42%
Avg PSA Since Cut-off Approximation 1,526.31% 1,468.88% 1,507.42%
Page 17 of 27
Morgan Stanley ABS Capital I Inc. Series 2007-NC1
Mortgage Pass-Through Certificates
March 26, 2007 Distribution
PREPAYMENT CALCULATION METHODOLOGY
Single Monthly Mortality (SMM): (Voluntary partial and full prepayments + Repurchases + Liquidation Balance)/(Beg Principal Balance - Sched Principal)
Conditional Prepayment Rate (CPR): 1-((1-SMM)^12)
PSA Standard Prepayment Model: CPR/(0.002*min(30,WAS))
Average SMM over period between nth month and mth month (AvgSMMn,m): 1 - [(1-SMMn)*(1-SMMn+1)*...*(1-SMMm)]^(1/months in period n,m)
Average CPR over period between the nth month and mth month (AvgCPRn,m): 1-((1-AvgSMMn,m)^12)
Average PSA Approximation over period between the nth month and mth month: AvgCPRn,m/(0.002*Avg WASn,m))
Average WASn,m: (min(30,WASn)+min(30,WASn+1)+...+min(30,WASm)/(number of months in the period n,m)
Weighted Average Seasoning (WAS)
Note: Prepayment rates are calculated since deal issue date and include partial and full voluntary prepayments and repurchases.
Dates correspond to distribution dates.
Page 18 of 27
Morgan Stanley ABS Capital I Inc. Series 2007-NC1
Mortgage Pass-Through Certificates
March 26, 2007 Distribution
Prepayment Detail Report
Prepayment Detail Report - Mortgage Loans Prepaid in Full During Current Distribution
Loan Number Original Current State & Type Prepayment First
& Loan Principal Prepayment Prepayment Note LTV at & Payment
Loan Group Status Balance Amount Date Rate Origination Original Term Date
1008156522 2 516,799.00 515,968.80 09-Mar-2007 9.350% CA - 80.00% Paid Off - 360 01-Jul-2006
1008571495 2 387,000.00 386,344.16 14-Mar-2007 8.650% IL - 90.00% Paid Off - 360 01-Aug-2006
1008732295 2 594,000.00 593,410.24 20-Feb-2007 9.750% CA - 90.00% Paid Off - 360 01-Oct-2006
1008751950 2 224,959.00 224,651.95 28-Feb-2007 8.850% MD - 61.30% Paid Off - 360 01-Sep-2006
1008893851 2 513,000.00 513,000.00 21-Feb-2007 8.625% MD - 93.27% Paid Off - 360 01-Sep-2006
1008905483 2 178,500.00 178,237.82 28-Feb-2007 8.600% NM - 85.00% Paid Off - 360 01-Sep-2006
1008914945 2 344,000.00 344,000.00 23-Feb-2007 8.450% VA - 80.00% Paid Off - 360 01-Sep-2006
1008958764 1 112,272.00 111,761.42 26-Feb-2007 6.525% TX - 80.00% Paid Off - 360 01-Oct-2006
1009072754 2 165,000.00 164,753.53 14-Mar-2007 7.900% MD - 71.74% Paid Off - 360 01-Oct-2006
1009077296 1 360,000.00 359,691.09 02-Mar-2007 10.400% FL - 80.00% Paid Off - 360 01-Sep-2006
1009078785 2 160,200.00 159,579.57 21-Feb-2007 8.275% ME - 90.00% Paid Off - 360 01-Sep-2006
1009160427 1 310,000.00 310,000.00 27-Feb-2007 7.150% CA - 82.67% Paid Off - 360 01-Oct-2006
1009192303 2 49,950.00 49,853.74 15-Mar-2007 10.725% OH - 90.00% Paid Off - 360 01-Oct-2006
1009205040 2 600,000.00 599,304.05 01-Mar-2007 9.400% CA - 80.00% Paid Off - 360 01-Sep-2006
1009261899 2 100,000.00 99,808.57 06-Mar-2007 11.875% WI - 34.48% Paid Off - 360 01-Oct-2006
1009289600 2 200,000.00 199,454.06 02-Mar-2007 9.075% IL - 80.00% Paid Off - 360 01-Oct-2006
1009373153 1 230,000.00 229,606.58 16-Feb-2007 7.425% CA - 45.10% Paid Off - 360 01-Oct-2006
1009381652 1 233,750.00 233,562.08 06-Mar-2007 10.000% MI - 85.00% Paid Off - 360 01-Oct-2006
1009385300 2 66,025.00 65,896.27 22-Feb-2007 9.600% TX - 95.00% Paid Off - 360 01-Nov-2006
1009393729 1 348,992.00 348,991.96 16-Feb-2007 10.200% FL - 95.00% Paid Off - 360 01-Oct-2006
1009399858 2 160,000.00 159,828.97 09-Mar-2007 8.275% VA - 80.00% Paid Off - 360 01-Nov-2006
1009441446 2 42,600.00 42,536.24 23-Feb-2007 11.900% MA - 20.00% Paid Off - 360 01-Oct-2006
1009443275 2 147,550.00 147,270.26 07-Mar-2007 10.800% FL - 65.00% Paid Off - 360 01-Oct-2006
1009452371 2 186,150.00 185,684.88 20-Feb-2007 9.500% IL - 85.00% Paid Off - 360 01-Oct-2006
1009491800 2 210,000.00 209,411.74 01-Mar-2007 8.950% AZ - 70.00% Paid Off - 360 01-Oct-2006
1009511423 2 185,000.00 184,690.21 06-Mar-2007 7.500% IL - 68.52% Paid Off - 360 01-Oct-2006
1009516035 1 149,000.00 148,904.28 28-Feb-2007 9.990% FL - 58.43% Paid Off - 360 01-Nov-2006
1009516927 1 300,050.00 300,050.00 22-Feb-2007 8.550% MD - 85.00% Paid Off - 360 01-Oct-2006
1009555778 1 314,381.00 314,381.00 22-Feb-2007 8.400% CA - 89.82% Paid Off - 360 01-Oct-2006
1009571787 2 76,000.00 75,953.38 16-Feb-2007 11.175% VA - 44.01% Paid Off - 360 01-Oct-2006
1009574427 1 389,500.00 389,031.89 23-Feb-2007 8.650% HI - 95.00% Paid Off - 360 01-Oct-2006
1009576773 2 106,500.00 106,259.94 27-Feb-2007 9.990% AZ - 73.96% Paid Off - 360 01-Oct-2006
1009604216 1 104,250.00 104,041.42 02-Mar-2007 10.550% GA - 73.42% Paid Off - 360 01-Oct-2006
1009612252 2 266,250.00 265,641.62 01-Mar-2007 9.925% IL - 75.00% Paid Off - 360 01-Oct-2006
1009621082 1 95,000.00 94,760.13 27-Feb-2007 9.450% NE - 95.00% Paid Off - 360 01-Oct-2006
1009628325 1 378,000.00 378,000.00 01-Mar-2007 6.600% NY - 70.00% Paid Off - 360 01-Oct-2006
1009646092 2 320,000.00 318,909.81 02-Mar-2007 7.990% WI - 76.01% Paid Off - 360 01-Oct-2006
1009660262 2 112,000.00 111,706.91 06-Mar-2007 8.175% SC - 80.00% Paid Off - 360 01-Nov-2006
1009666943 2 457,500.00 456,886.61 21-Feb-2007 8.275% MD - 75.00% Paid Off - 360 01-Oct-2006
1009669815 2 360,000.00 359,240.82 15-Mar-2007 9.225% CT - 90.00% Paid Off - 360 01-Nov-2006
Page 19 of 27
Morgan Stanley ABS Capital I Inc. Series 2007-NC1
Mortgage Pass-Through Certificates
March 26, 2007 Distribution
Prepayment Detail Report - Mortgage Loans Prepaid in Full During Current Distribution
Loan Number Original Current State & Type Prepayment First
& Loan Principal Prepayment Prepayment Note LTV at & Payment
Loan Group Status Balance Amount Date Rate Origination Original Term Date
1009670661 2 295,000.00 294,183.99 06-Mar-2007 7.900% IL - 89.39% Paid Off - 360 01-Nov-2006
1009673542 2 648,000.00 647,072.89 22-Feb-2007 8.050% CA - 80.00% Paid Off - 360 01-Oct-2006
1009673677 2 162,000.00 161,705.86 22-Feb-2007 11.000% CA - 20.00% Paid Off - 360 01-Oct-2006
1009687751 1 51,750.00 51,652.40 26-Feb-2007 10.825% MI - 90.00% Paid Off - 360 01-Oct-2006
1009705161 2 102,000.00 101,842.69 02-Mar-2007 11.750% AZ - 20.00% Paid Off - 360 01-Oct-2006
1009714491 2 180,500.00 179,962.16 28-Feb-2007 8.650% CO - 95.00% Paid Off - 360 01-Oct-2006
1009726086 2 364,800.00 364,800.00 05-Mar-2007 7.875% NY - 80.00% Paid Off - 360 01-Nov-2006
1009726166 2 558,000.00 558,000.00 22-Feb-2007 9.025% WA - 90.00% Paid Off - 360 01-Oct-2006
1009731267 1 192,000.00 191,714.75 01-Mar-2007 10.875% SC - 89.86% Paid Off - 360 01-Nov-2006
1009734638 2 62,000.00 61,903.28 08-Mar-2007 10.650% IL - 20.00% Paid Off - 360 01-Nov-2006
1009734870 2 248,000.00 247,249.43 08-Mar-2007 7.450% IL - 80.00% Paid Off - 360 01-Nov-2006
1009739615 1 409,500.00 408,824.04 14-Mar-2007 7.550% CA - 70.00% Paid Off - 360 01-Oct-2006
1009749873 1 192,600.00 192,435.49 02-Mar-2007 9.800% NM - 90.00% Paid Off - 360 01-Oct-2006
1009764007 1 107,000.00 106,871.40 05-Mar-2007 8.650% CA - 73.79% Paid Off - 360 01-Oct-2006
1009773952 2 96,000.00 95,783.40 13-Mar-2007 8.900% TX - 79.93% Paid Off - 360 01-Nov-2006
1009776922 2 202,500.00 202,238.14 20-Feb-2007 8.400% UT - 90.00% Paid Off - 360 01-Oct-2006
1009782675 1 256,000.00 255,690.07 22-Feb-2007 8.625% CA - 80.00% Paid Off - 360 01-Oct-2006
1009784432 2 144,000.00 143,647.31 01-Mar-2007 8.500% WI - 73.85% Paid Off - 360 01-Nov-2006
1009793155 2 356,250.00 355,972.55 14-Mar-2007 9.350% NY - 75.00% Paid Off - 360 01-Nov-2006
1009793226 2 112,000.00 111,624.92 01-Mar-2007 8.075% MD - 58.95% Paid Off - 360 01-Oct-2006
1009795313 2 221,400.00 221,110.59 09-Mar-2007 7.575% FL - 90.00% Paid Off - 360 01-Nov-2006
1009796009 2 98,400.00 98,189.20 02-Mar-2007 9.150% TX - 80.00% Paid Off - 360 01-Nov-2006
1009824657 1 227,500.00 227,247.85 13-Mar-2007 8.150% CA - 65.00% Paid Off - 360 01-Nov-2006
1009847927 2 320,000.00 319,628.58 28-Feb-2007 7.990% NJ - 79.01% Paid Off - 360 01-Nov-2006
1009899498 2 190,000.00 189,597.22 23-Feb-2007 9.200% FL - 95.00% Paid Off - 360 01-Nov-2006
1009974049 1 108,800.00 108,659.12 27-Feb-2007 8.825% GA - 80.00% Paid Off - 360 01-Nov-2006
1009975137 2 89,000.00 88,784.25 26-Feb-2007 8.550% OH - 58.17% Paid Off - 360 01-Nov-2006
1009982502 2 262,000.00 261,537.33 21-Feb-2007 6.500% NY - 71.78% Paid Off - 360 01-Nov-2006
1009983191 2 75,000.00 74,877.24 02-Mar-2007 6.775% FL - 46.58% Paid Off - 360 01-Nov-2006
1009984298 2 156,500.00 155,923.28 09-Mar-2007 6.475% TX - 54.91% Paid Off - 360 01-Nov-2006
1010004185 1 52,200.00 52,119.01 20-Feb-2007 10.675% MI - 90.00% Paid Off - 360 01-Nov-2006
1010016172 2 203,000.00 202,840.71 23-Feb-2007 9.325% NJ - 68.81% Paid Off - 360 01-Nov-2006
1010049217 1 216,750.00 216,609.06 07-Mar-2007 9.950% CA - 85.00% Paid Off - 360 01-Nov-2006
1010051454 2 130,000.00 129,828.86 02-Mar-2007 7.550% FL - 76.25% Paid Off - 360 01-Nov-2006
1010103559 1 81,000.00 80,810.54 23-Feb-2007 8.725% MI - 90.00% Paid Off - 360 01-Nov-2006
1010148137 2 58,900.00 58,797.74 16-Feb-2007 10.150% TX - 95.00% Paid Off - 360 01-Nov-2006
15710433109 2 595,000.00 593,421.99 02-Mar-2007 8.600% WA - 85.00% Paid Off - 360 01-May-2006
TOTAL 17,879,528.00 17,854,223.34
Page 20 of 27
Morgan Stanley ABS Capital I Inc. Series 2007-NC1
Mortgage Pass-Through Certificates
March 26, 2007 Distribution
Realized Loss Report
COLLATERAL REALIZED LOSSES
Group 2 Group 1 Total
Current
Subsequent Recoveries 0.00 0.00 0.00
Number of Loans Liquidated 0 0 0
Collateral Principal Realized Loss/(Gain) Amount 0.00 0.00 0.00
Collateral Interest Realized Loss/(Gain) Amount 0.00 0.00 0.00
Net Liquidation Proceeds 0.00 0.00 0.00
Subsequent Recoveries 0.00 0.00 0.00
Cumulative
Number of Loans Liquidated 0 0 0
Collateral Realized Loss/(Gain) Amount 0.00 0.00 0.00
Net Liquidation Proceeds 0.00 0.00 0.00
Cummulative Subsequent Recoveries 0.00 0.00 0.00
Page 21 of 27
Morgan Stanley ABS Capital I Inc. Series 2007-NC1
Mortgage Pass-Through Certificates
March 26, 2007 Distribution
DEFAULT SPEEDS
Group 2 Group 1 Total
MDR 0.00% 0.00% 0.00%
3 Months Avg MDR 0.00% 0.00% 0.00%
12 Months Avg MDR 0.00% 0.00% 0.00%
Avg MDR Since Cut-off 0.00% 0.00% 0.00%
CDR 0.00% 0.00% 0.00%
3 Months Avg CDR 0.00% 0.00% 0.00%
12 Months Avg CDR 0.00% 0.00% 0.00%
Avg CDR Since Cut-off 0.00% 0.00% 0.00%
SDA 0.00% 0.00% 0.00%
3 Months Avg SDA Approximation 0.00% 0.00% 0.00%
12 Months Avg SDA Approximation 0.00% 0.00% 0.00%
Avg SDA Since Cut-off Approximation 0.00% 0.00% 0.00%
Loss Severity Approximation for Current Period 0.00% 0.00% 0.00%
3 Months Avg Loss Severity Approximation 0.00% 0.00% 0.00%
12 Months Avg Loss Severity Approximation 0.00% 0.00% 0.00%
Avg Loss Severity Approximation Since Cut-off 0.00% 0.00% 0.00%
Page 22 of 27
Morgan Stanley ABS Capital I Inc. Series 2007-NC1
Mortgage Pass-Through Certificates
March 26, 2007 Distribution
COLLATERAL REALIZED LOSS CALCULATION METHODOLOGY
Monthly Default Rate (MDR): (Beg Principal Balance of Liquidated Loans)/(Total Beg Principal Balance)
Conditional Default Rate (CDR): 1-((1-MDR)^12)
SDA Standard Default Assumption: CDR/IF(WAS<61,MIN(30,WAS)*0.02,MAX(0.03,MIN(30,WAS)*0.02-0.0095*(WAS-60)))
Average MDR over period between nth month and mth month (AvgMDRn,m): [(1-MDRn)*(1-MDRn+1)*...*(1-MDRm)]^(1/months in period n,m)
Average CDR over period between the nth month and mth month (AvgCDRn,m): 1-((1-AvgMDRn,m)^12)
Average SDA Approximation over period between the nth month and mth month:
AvgCDRn,m/IF(Avg WASn,m<61,MIN(30,Avg WASn,m)*0.02,MAX(0.03,MIN(30,Avg WASn,m)*0.02-0.0095*(Avg WASn,m-60)))
Average WASn,m: (WASn + WASn+1 +...+ WASm )/(number of months in the period n,m)
Loss Severity Approximation for current period: sum(Realized Loss Amount)/sum(Beg Principal Balance of Liquidated Loans)
Average Loss Severity Approximation over period between nth month and mth month: Weighted Avg(Loss Severityn,m)
Note: Default rates are calculated since deal issue date and include realized gains and additional realized losses and gains from prior periods.
Dates correspond to distribution dates.
Page 23 of 27
Morgan Stanley ABS Capital I Inc. Series 2007-NC1
Mortgage Pass-Through Certificates
March 26, 2007 Distribution
Realized Loss Detail Report
Loan Number Current State & Prior Realized Cumulative
& Loan Note LTV at Original Principal Loss/(Gain) Realized Realized
Loan Group Status Rate Origination Term Balance Revision Loss/(Gain) Loss/(Gain)
TOTAL
Page 24 of 27
Morgan Stanley ABS Capital I Inc. Series 2007-NC1
Mortgage Pass-Through Certificates
March 26, 2007 Distribution
Triggers and Adj. Cert. Report
TRIGGER EVENTS
Group 2 Group 1 Total
Stepdown Date has occurred No
Distribution Date Feb 2010
Credit Enhancement Percentage (For Stepdown Date ) 23.1792%
Applicable Percentage 45.0000%
Trigger Event in Effect No
Rolling 60+ days balance includes BK,FC,REO 18,666,356.95
Ending Balance 1,213,373,080.68
Delinquency Percentage 1.5384%
Prior Balance of X and Mezzanine 281,250,226.92
Prior Pool Balance 824,587,727.85 407,247,081.51 1,231,834,809.36
Prior Senior Credit Enhancement Percentage 22.8318%
Applicable % of Prior Senior Credit Enhancment % 35.5500%
Cumulative Realized Loss 0.00 0.00 0.00
Realized Loss Percentage 0.0000%
Applicable Percentage 100.0000%
ADJUSTABLE RATE CERTIFICATE INFORMATION
SPACE INTENTIONALLY LEFT BLANK
ADDITIONAL INFORMATION
Group 2 Group 1 Total
Libor For Current Period 5.320000%
Libor Rate Determination Date 02/22/2007
Libor For Next Period 5.320000%
Libor Rate Next Determination Date 03/22/2007
Interest Rate Swap Floating 5.320000%
Swap Rate Determination Date 02/22/2007
Interest Rate Swap Fixed Rate 5.150000%
Page 25 of 27
Morgan Stanley ABS Capital I Inc. Series 2007-NC1
Mortgage Pass-Through Certificates
March 26, 2007 Distribution
Additional Certificate Report
ADDITIONAL CERTIFICATE REPORT
NET WAC Shortfall Prior (1) Int on Prior SF (2) Curr NET WAC SF (3) Total NET WAC SF (1+2+3) NET WAC Shortfall Paid NET WAC Shortfall UnPaid
CLASS
A-1 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
A-2A $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
A-2B $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
A-2C $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
A-2D $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
M-1 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
M-2 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
M-3 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
M-4 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
M-5 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
M-6 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
B-1 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
B-2 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
B-3 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
B-4 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Page 26 of 27
Morgan Stanley ABS Capital I Inc. Series 2007-NC1
Mortgage Pass-Through Certificates
March 26, 2007 Distribution
Other Related Information
ADDITIONAL INFORMATION
Group 2 Group 1 Total
Current Scheduled Payments 6,013,541.86 3,010,172.61 9,023,714.47
Current Scheduled Payments 1 Month Prior 6,102,457.48 3,057,054.79 9,159,512.27
Current Scheduled Payments 2 Month Prior 4,610,091.30 2,345,590.43 0.00
Current Scheduled Payments 3 Month Prior 4,610,091.30 2,345,590.43 0.00
Current Scheduled Payments 4 Month Prior 4,610,091.30 2,345,590.43 0.00
Current Scheduled Payments 5 Month Prior 4,610,091.30 2,345,590.43 0.00
Current Scheduled Payments 6 Month Prior 4,610,091.30 2,345,590.43 0.00
Current Scheduled Payments 7 Month Prior 4,610,091.30 2,345,590.43 0.00
Current Scheduled Payments 8 Month Prior 4,610,091.30 2,345,590.43 0.00
Current Scheduled Payments 9 Month Prior 4,610,091.30 2,345,590.43 0.00
Current Scheduled Payments 10 Month Prior 4,610,091.30 2,345,590.43 0.00
Current Scheduled Payments 11 Month Prior 4,610,091.30 2,345,590.43 0.00
Sched. Payments for 60+Day Delinquent Loans 758,507.64 758,507.64 232,703.23
Sched. Pmts - 60+Day Delinquent Loans, 1 Month Prior 729,107.73 729,107.73 59,653.46
Sched. Pmts - 60+Day Delinquent Loans, 2 Month Prior 0.00 0.00 0.00
Sched. Pmts - 60+Day Delinquent Loans, 3 Month Prior 0.00 0.00 0.00
Sched. Pmts - 60+Day Delinquent Loans, 4 Month Prior 0.00 0.00 0.00
Sched. Pmts - 60+Day Delinquent Loans, 5 Month Prior 0.00 0.00 0.00
Sched. Pmts - 60+Day Delinquent Loans, 6 Month Prior 0.00 0.00 0.00
Sched. Pmts - 60+Day Delinquent Loans, 7 Month Prior 0.00 0.00 0.00
Sched. Pmts - 60+Day Delinquent Loans, 8 Month Prior 0.00 0.00 0.00
Sched. Pmts - 60+Day Delinquent Loans, 9 Month Prior 0.00 0.00 0.00
Sched. Pmts - 60+Day Delinquent Loans, 10 Month Prior 0.00 0.00 0.00
Sched. Pmts - 60+Day Delinquent Loans, 11 Month Prior 0.00 0.00 0.00
Page 27 of 27