SECURITIES AND EXCHANGE COMMISSION
                                 Washington, D.C.  20549


                                        FORM 8-K


                     Current Report Pursuant To Section 13 or 15(d) of
                            the Securities Exchange Act of 1934

           Date of Report (Date of earliest event reported):  July 25, 2003


                          MORGAN STANLEY DEAN WITTER CAPITAL I INC.
         (as Depositor, OCWEN Federal Bank as Servicer, NC Capital Corporation,
                     as Responsible Party and Deutsche Bank National
                              Trust Company, as Trustee).


                MORGAN STANLEY DEAN WITTER CAP I MRT PAS THR CRT SER 2003 NC1
                  (Exact name of Registrant as specified in its Charter)


                                         DELAWARE
                     (State or Other Jurisdiction of Incorporation)

               333-83986-14                        13-3291626
          (Commission File Number)        (I.R.S. Employer Identification No.)


           1585 BROADWAY, 2ND FLOOR
           NEW YORK, NEW YORK                             10036
          (Address of principal executive offices)     (Zip Code)


          Registrant's Telephone Number, Including Area Code:  (212) 761-4700



     Item 5.  Other Events

     Attached hereto is a copy of the Monthly Remittance Statements to the
     Certificateholders which was derived from the monthly information
     submitted by the Master Servicer of the Trust to the Trustee.


     Item 7.  Financial Statement and Exhibits

     Exhibits:  (as noted in Item 5 above)

     Monthly Remittance Statement to the Certificateholders dated as of
     July 25, 2003.



                                     SIGNATURE


               Pursuant to the requirements of the Securities Exchange Act of
          1934, the Registrant has duly caused this report to be signed on its
          behalf by the undersigned, hereunto duly authorized.


                                  Deutsche Bank National Trust Company,
                                  not in its individual capacity, but solely
                                  as a duly authorized agent of the Registrant
                                  pursuant to the Pooling and Servicing
                                  Agreement, dated as of January 1,2003..

          Date:  Aug 01, 2003               By:  /s/  Katherine M. Wannenmacher
                                            Katherine M. Wannenmacher
                                            Vice President

                                   EXHIBIT INDEX

          DOCUMENT

          Monthly Remittance Statement to the Certificateholders
          dated as of July 25, 2003.






			

	Morgan Stanley Dean Witter Capital I Inc. 2003-NC1
	Mortgage Pass-Through Certificates
	July 25, 2003 Distribution
	Contents
			TABLE OF CONTENTS
								Page
			1.	Contents				1
			2.	Certificate Payment Report				2
			3.	Collection Account Report				4
			4.	Credit Enhancement Report				7
			5.	Collateral Report				8
			6.	Delinquency Report				11
			7.	REO Report				14
			8.	Foreclosure Report				15
			9.	Prepayment Report				17
			10.	Prepayment Detail Report				20
			11.	Realized Loss Report				23
			12.	Realized Loss Detail Report				26
			13.	Triggers, Adj. Rate Cert. and Miscellaneous Report				27
				Total Number of Pages				27
			CONTACTS
				Administrator: Jeremy Conyers
				Direct Phone Number: (714)247-6274
				Address: Deutsche Bank
				1761 E. St. Andrew Place, Santa Ana, CA 92705
				Web Site: https://www.corporatetrust.db.com/invr
				Factor Information: (800) 735-7777
				Main Phone Number: (714) 247-6000
ISSUANCE INFORMATION
	Seller:		Morgan Stanley					Cut-Off Date: January 1, 2003
	Certificate Insurer(s):		Financial Security Assurance Inc.					Closing Date: January 28, 2003
								First Payment Date: February 25, 2003
	Servicer(s):		Ocwen Federal Master Servicer
								Distribution Date: July 25, 2003
	Underwriter(s):		Morgan Stanley Dean Witter Lead Underwriter					Record Date: July 24, 2003
			Blaylock & Partners, L.P. Underwriter					June 30, 2003
			Utendahl Capital Partners, L.P. Underwriter
						Page 1 of 27					© COPYRIGHT 2003 Deutsche Bank
	Morgan Stanley Dean Witter Capital I Inc. 2003-NC1
	Mortgage Pass-Through Certificates
	REMIC II Series 2003-NC1
	Certificate Payment Report for July 25, 2003 Distribution
	Distribution in Dollars - Current Period
					Prior						Current
	Class	Original			Principal			Total	Realized	Deferred	Principal
Class	Type	Face Value			Balance	Interest	Principal	Distribution	Losses	Interest	Balance
					(1)	(2)	(3)	(4)=(2)+(3)	(5)	(6)	(7)=(1)-(3)-(5)+(6)
A-1	FLT	544,733,000.00			502,876,873.10	613,928.85	19,132,618.02	19,746,546.87	-	-	483,744,255.08
A-2	FLT	140,000,000.00			127,789,449.50	154,944.71	4,973,181.73	5,128,126.44	-	-	122,816,267.77
A-3	FLT	112,007,000.00			102,237,949.07	128,223.43	3,978,794.04	4,107,017.47	-	-	98,259,155.03
M-1	MEZ	60,493,000.00			60,493,000.00	105,106.59	-	105,106.59	-	-	60,493,000.00
M-2	MEZ	51,641,000.00			51,641,000.00	132,760.40	-	132,760.40	-	-	51,641,000.00
M-3	MEZ	8,361,000.00			8,361,000.00	21,843.11	-	21,843.11	-	-	8,361,000.00
B-1	SUB	32,952,000.00			32,952,000.00	128,650.10	-	128,650.10	-	-	32,952,000.00
B-2	SUB	16,229,000.00			16,229,000.00	54,570.01	-	54,570.01	-	-	16,229,000.00
X	SUB	17,214,497.00			17,213,533.69	4,447,995.57	-	4,447,995.57	-	-	17,213,533.69
P	SUB	-			-	619,154.72	-	619,154.72	-	-	-
UT-R	R	-			-	-	-	-	-	-	-
Total		983,630,497.00			919,793,805.36	6,407,177.49	28,084,593.78	34,491,771.27	-	-	891,709,211.58
	Interest Accrual Detail				Current Period Factor Information per $1,000 of Original Face
						Orig. Principal	Prior				Current
	Period	Period				(with Notional)	Principal			Total	Principal
Class	Starting	Ending		Method	Cusip	Balance	Balance	Interest	Principal	Distribution	Balance
							(1)	(2)	(3)	(4)=(2)+(3)	(5)
A-1	06/25/03	07/24/03		A-Act/360	61746WZE3	544,733,000.00	923.162124	1.127027	35.122928	36.249955	888.039196
A-2	06/25/03	07/24/03		A-Act/360	61746WYS3	140,000,000.00	912.781782	1.106748	35.522727	36.629475	877.259056
A-3	06/25/03	07/24/03		A-Act/360	61746WYT1	112,007,000.00	912.781782	1.144781	35.522727	36.667507	877.259056
M-1	06/25/03	07/24/03		A-Act/360	61746WYU8	60,493,000.00	1,000.000000	1.737500	-	1.737500	1,000.000000
M-2	06/25/03	07/24/03		A-Act/360	61746WYV6	51,641,000.00	1,000.000000	2.570833	-	2.570833	1,000.000000
M-3	06/25/03	07/24/03		A-Act/360	61746WYW4	8,361,000.00	1,000.000000	2.612500	-	2.612500	1,000.000000
B-1	06/25/03	07/24/03		A-Act/360	61746WYX2	32,952,000.00	1,000.000000	3.904167	-	3.904167	1,000.000000
B-2	06/25/03	07/24/03		A-Act/360	61746WYY0	16,229,000.00	1,000.000000	3.362500	-	3.362500	1,000.000000
X				A-30/360		17,214,497.00	999.944041	258.386612	-	258.386612	999.944041
P				-		-	-	-	-	-	-
UT-R				-		-	-	-	-	-	-
							Page 2 of 27				© COPYRIGHT 2003 Deutsche Bank
	Morgan Stanley Dean Witter Capital I Inc. 2003-NC1
	Mortgage Pass-Through Certificates
	REMIC II Series 2003-NC1
	Certificate Payment Report for July 25, 2003 Distribution
	Distribution in Dollars - to Date
											Current
	Original				Unscheduled	Scheduled	Total	Total	Realized	Deferred	Principal
Class	Face Value		Interest		Principal	Principal	Principal	Distribution	Losses	Interest	Balance
	(1)		(2)		(3)	(4)	(5)=(3)+(4)	(6)=(2)+(5)	(7)	(8)	(9)=(1)-(5)-(7)+(8)
A-1	544,733,000.00		4,452,527.64		58,289,367.47	2,699,377.45	60,988,744.92	65,441,272.56	-	-	483,744,255.08
A-2	140,000,000.00		1,131,028.97		16,396,965.71	786,766.51	17,183,732.23	18,314,761.20	-	-	122,816,267.77
A-3	112,007,000.00		931,508.13		13,118,392.42	629,452.55	13,747,844.97	14,679,353.10	-	-	98,259,155.03
M-1	60,493,000.00		695,845.94		0.00	-	-	695,845.94	-	-	60,493,000.00
M-2	51,641,000.00		849,358.16		-	-	-	849,358.16	-	-	51,641,000.00
M-3	8,361,000.00		139,583.41		-	-	-	139,583.41	-	-	8,361,000.00
B-1	32,952,000.00		802,660.37		-	-	-	802,660.37	-	-	32,952,000.00
B-2	16,229,000.00		343,155.45		-	-	-	343,155.45	-	-	16,229,000.00
X	17,214,497.00		26,778,345.77		878.67	84.64	963.31	26,779,309.08	-	-	17,213,533.69
P	-		1,737,197.22		-	-	-	1,737,197.22	-	-	-
UT-R	-		-		-	-	-	-	-	-	-
Total	983,630,497.00		37,861,211.06		87,805,604.27	4,115,681.15	91,921,285.42	129,782,496.48	-	-	891,709,211.58
	Interest Detail
	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	Adjustments	Interest	Interest	Interest
					(1)	(2)	(3)	(4)	(5)=(1)-(2)+(3)+(4)	(6)	(7)=(5)-(6)
A-1	1.46500%	502,876,873.10			613,928.85	-	-	-	613,928.85	613,928.85	-
A-2	1.45500%	127,789,449.50			154,944.71	-	-	-	154,944.71	154,944.71	-
A-3	1.50500%	102,237,949.07			128,223.43	-	-	-	128,223.43	128,223.43	-
M-1	2.08500%	60,493,000.00			105,106.59	-	-	-	105,106.59	105,106.59	-
M-2	3.08500%	51,641,000.00			132,760.40	-	-	-	132,760.40	132,760.40	-
M-3	3.13500%	8,361,000.00			21,843.11	-	-	-	21,843.11	21,843.11	-
B-1	4.68500%	32,952,000.00			128,650.10	-	-	-	128,650.10	128,650.10	-
B-2	4.03500%	16,229,000.00			54,570.01	-	-	-	54,570.01	54,570.01	-
X	5.80392%	17,213,533.69			4,447,995.57	-	-	-	4,447,995.57	4,447,995.57	-
P		-			619,154.72	-	-	-	619,154.72	619,154.72	-
UT-R		-			-	-	-	-	-	-	-
Total		919,793,805.36			6,407,177.49	-	-	-	6,407,177.49	6,407,177.49	-
							Page 3 of 27				© COPYRIGHT 2003 Deutsche Bank
	Morgan Stanley Dean Witter Capital I Inc. 2003-NC1
	Mortgage Pass-Through Certificates
	Collection Account Report for July 25, 2003 Distribution
	Collection Account Report
SUMMARY						GROUP 2	GROUP 1	TOTAL
	Principal Collections					8,951,758.37	19,132,153.39	28,083,911.76
	Principal Other Accounts					0.00	0.00	0.00
	TOTAL NET PRINCIPAL					8,951,758.37	19,132,153.39	28,083,911.76
	Interest Collections					1,825,663.92	4,018,366.73	5,844,030.65
	Interest Withdrawals					0.00	0.00	0.00
	Interest Other Accounts					0.00	0.00	0.00
	Interest Fees					(22,331.35)	(31,952.51)	(54,283.86)
	TOTAL NET INTEREST					1,803,332.57	3,986,414.22	5,789,746.79
	TOTAL PRINCIPAL & INTEREST DISTRIBUTABLE					10,755,090.94	23,118,567.61	33,873,658.55
	Prepayment Penalties Collected					508,931.22	110,223.50	619,154.72
	TOTAL AVAILABLE FUNDS FOR DISTRIBUTION					11,264,022.16	23,228,791.11	34,492,813.27
PRINCIPAL - COLLECTIONS						GROUP 2	GROUP 1	TOTAL
	Scheduled Principal Received					215,012.19	450,414.30	665,426.49
	Prepayments In Full					8,702,979.64	18,539,155.70	27,242,135.34
	Curtailments					33,766.54	47,909.22	81,675.76
	Liquidations					0.00	95,356.19	95,356.19
	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	(682.02)	(682.02)
	Delinquent Principal					(196,233.78)	(408,417.94)	(604,651.72)
	Advanced Principal					196,233.78	408,417.94	604,651.72
	TOTAL PRINCIPAL COLLECTED					8,951,758.37	19,132,153.39	28,083,911.76
				Page 4 of 27				© COPYRIGHT 2003 Deutsche Bank
	Morgan Stanley Dean Witter Capital I Inc. 2003-NC1
	Mortgage Pass-Through Certificates
	Collection Account Report for July 25, 2003 Distribution
	Collection Account Report
PRINCIPAL - WITHDRAWALS						GROUP 2	GROUP 1	TOTAL
SPACE INTENTIONALLY LEFT BLANK
PRINCIPAL - OTHER ACCOUNTS						GROUP 2	GROUP 1	TOTAL
SPACE INTENTIONALLY LEFT BLANK
INTEREST - COLLECTIONS						GROUP 2	GROUP 1	TOTAL
	Scheduled Interest					1,932,346.50	4,250,995.88	6,183,342.38
	Liquidation Interest					0.00	555.45	555.45
	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
	Net Prepayment Interest Shortfalls					0.00	0.00	0.00
	Delinquent Interest					(1,720,364.65)	(3,785,803.09)	(5,506,167.74)
	Interest Advanced					1,613,682.07	3,552,618.49	5,166,300.56
	TOTAL INTEREST COLLECTED					1,825,663.92	4,018,366.73	5,844,030.65
				Page 5 of 27				© COPYRIGHT 2003 Deutsche Bank
	Morgan Stanley Dean Witter Capital I Inc. 2003-NC1
	Mortgage Pass-Through Certificates
	Collection Account Report for July 25, 2003 Distribution
	Collection Account Report
INTEREST - WITHDRAWALS						GROUP 2	GROUP 1	TOTAL
	Trust Fund Expenses							0.00
	Nonrecoverable Advances							0.00
	Reimbursements to Master Servicer							0.00
	TOTAL INTEREST WITHDRAWALS							0.00
INTEREST - OTHER ACCOUNTS						GROUP 2	GROUP 1	TOTAL
	TOTAL INTEREST OTHER ACCOUNTS					0.00	0.00	0.00
INTEREST - FEES						GROUP 2	GROUP 1	TOTAL
	Current Servicing Fees					13,792.69	29,587.56	43,380.25
	Class A-2 Certificate Insurance Premium					7,454.38	0.00	7,454.38
	Trustee Fees					1,084.28	2,364.95	3,449.23
	TOTAL INTEREST OTHER FEES					22,331.35	31,952.51	54,283.86
				Page 6 of 27				© COPYRIGHT 2003 Deutsche Bank
	Morgan Stanley Dean Witter Capital I Inc. 2003-NC1
	Mortgage Pass-Through Certificates
	Credit Enhancement Report for July 25, 2003 Distribution
	Credit Enhancement Report
ACCOUNTS						GROUP 2	GROUP 1	TOTAL
	Excess Reserve Fund Balance (Ending)							0.00
INSURANCE						GROUP 2	GROUP 1	TOTAL
SPACE INTENTIONALLY LEFT BLANK
STRUCTURAL FEATURES						GROUP 2	GROUP 1	TOTAL
	Beginning Subordinated Amount							17,212,851.67
	Ending Subordinated Amount							17,213,533.69
	Specified Subordinated Amount							17,213,533.69
	Senior Enhancement Percentage							20.96%
				Page 7 of 27				© COPYRIGHT 2003 Deutsche Bank
	Morgan Stanley Dean Witter Capital I Inc. 2003-NC1
	Mortgage Pass-Through Certificates
	Collateral Report for July 25, 2003 Distribution
	Collateral Report
COLLATERAL						GROUP 2	GROUP 1	TOTAL
	Loan Count:
	Original					1653	4664	6317
	Prior					1,576	4,426	6,002
	Prefunding					-	-	-
	Scheduled Paid Offs					-	-	-
	Full Voluntary Prepayments					(33)	(114)	(147)
	Repurchases					-	-	-
	Liquidations					-	(1)	(1)
	Current					1,543	4,311	5,854
	Principal Balance:
	Original					311,120,564.87	672,509,931.72	983,630,496.59
	Prior					289,140,626.17	630,653,179.19	919,793,805.36
	Prefunding					-	-	-
	Scheduled Principal					(215,012.19)	(450,414.30)	(665,426.49)
	Partial and Full Voluntary Prepayments					(8,736,746.18)	(18,587,064.92)	(27,323,811.10)
	Repurchases					-	-	-
	Liquidations					-	(95,356.19)	(95,356.19)
	Current					280,188,867.80	611,520,343.78	891,709,211.58
PREFUNDING						GROUP 2	GROUP 1	TOTAL
SPACE INTENTIONALLY LEFT BLANK
	Group 1
	Group 2
Current Prin Balance by Groups (in millions of dollars)					Total Current Principal Balance (in millions of dollars)
				Page 8 of 27				© COPYRIGHT 2003 Deutsche Bank
	Morgan Stanley Dean Witter Capital I Inc. 2003-NC1
	Mortgage Pass-Through Certificates
	Collateral Report for July 25, 2003 Distribution
	Collateral Report
CHARACTERISTICS						GROUP 2	GROUP 1	TOTAL
	Weighted Average Coupon Original					7.999302%	8.101822%	8.069395%
	Weighted Average Coupon Prior					8.015084%	8.090535%	8.066837%
	Weighted Average Coupon Current					8.019682%	8.089806%	8.067762%
	Weighted Average Months to Maturity Original					343	353	350
	Weighted Average Months to Maturity Prior					339	349	346
	Weighted Average Months to Maturity Current					337	348	345
	Weighted Avg Remaining Amortization Term Original					342	353	350
	Weighted Avg Remaining Amortization Term Prior					338	349	345
	Weighted Avg Remaining Amortization Term Current					337	348	344
	Weighted Average Seasoning Original					4.21	4.18	4.19
	Weighted Average Seasoning Prior					8.21	8.18	8.19
	Weighted Average Seasoning Current					9.20	9.18	9.19
Note: Original information refers to deal issue.
	Group 1
	Group 2
WAC by Groups					Total WAC
WARAT by Groups					Total WARAT
Note: Dates correspond to distribution dates.
				Page 9 of 27				© COPYRIGHT 2003 Deutsche Bank
	Morgan Stanley Dean Witter Capital I Inc. 2003-NC1
	Mortgage Pass-Through Certificates
	Collateral Report for July 25, 2003 Distribution
	Collateral Report
ARM CHARACTERISTICS						GROUP 2	GROUP 1	TOTAL
	Weighted Average Margin Original					3.515%	5.591%
	Weighted Average Margin Prior					3.480%	5.578%
	Weighted Average Margin Current					3.466%	5.571%
	Weighted Average Max Rate Original					8.680%	13.016%
	Weighted Average Max Rate Prior					8.515%	12.972%
	Weighted Average Max Rate Current					8.467%	12.958%
	Weighted Average Min Rate Original					4.281%	7.017%
	Weighted Average Min Rate Prior					4.220%	6.991%
	Weighted Average Min Rate Current					4.200%	6.984%
	Weighted Average Cap Up Original					0.976%	1.289%
	Weighted Average Cap Up Prior					0.950%	1.285%
	Weighted Average Cap Up Current					0.944%	1.283%
	Weighted Average Cap Down Original					0.976%	1.289%
	Weighted Average Cap Down Prior					0.950%	1.285%
	Weighted Average Cap Down Current					0.944%	1.283%
Note: Original information refers to deal issue.
SERVICING FEES / ADVANCES						GROUP 2	GROUP 1	TOTAL
	Current Servicing Fees					13,792.69	29,587.56	43,380.25
	Delinquent Servicing Fees					106,682.58	233,184.60	339,867.18
	TOTAL SERVICING FEES					120,475.27	262,772.16	383,247.43
	Prepayment Interest Shortfall					25,706.39	53,412.10	79,118.49
	Compensating Interest					(25,706.39)	(53,412.10)	(79,118.49)
	Delinquent Servicing Fees					(106,682.58)	(233,184.60)	(339,867.18)
	COLLECTED SERVICING FEES					13,792.69	29,587.56	43,380.25
	Aggregate Advances with respect to this Distribution					1,809,915.85	3,961,036.43	5,770,952.28
	Current Nonrecoverable Advances					0.00	0.00	0.00
	Cumulative Nonrecoverable Advances					0.00	0.00	0.00
ADDITIONAL COLLATERAL INFORMATION						GROUP 2	GROUP 1	TOTAL
	Net Prepayment Interest Shortfall							0.00
	Net Monthly Excess Cash Flow							4,448,677.59
	Ending Pool Stated Principal Balance					280,188,867.80	611,520,343.78	891,709,211.58
				Page 10 of 27				© COPYRIGHT 2003 Deutsche Bank
	Morgan Stanley Dean Witter Capital I Inc. 2003-NC1
	Mortgage Pass-Through Certificates
	Delinquency Report for July 25, 2003 Distribution
	Delinquency Report - Total
				<1 PAYMENT	1 PAYMENT	2 PAYMENTS	3+ PAYMENTS	TOTAL
DELINQUENT		Balance			25,394,331.54	3,357,541.50	1,126,035.83	29,877,908.87
		% Balance			2.85%	0.38%	0.13%	3.35%
		# Loans			186	22	8	216
		% # Loans			3.18%	0.38%	0.14%	3.69%
FORECLOSURE		Balance		-	-	5,079,676.38	10,649,743.60	15,729,419.98
		% Balance		0.00%	0.00%	0.57%	1.19%	1.76%
		# Loans		-	-	40	76	116
		% # Loans		0.00%	0.00%	0.68%	1.30%	1.98%
BANKRUPTCY		Balance		3,811,458.96	413,000.31	414,964.42	1,647,580.37	6,287,004.06
		% Balance		0.43%	0.05%	0.05%	0.18%	0.71%
		# Loans		23	4	3	14	44
		% # Loans		0.39%	0.07%	0.05%	0.24%	0.75%
REO		Balance		-	-	-	654,308.86	654,308.86
		% Balance		0.00%	0.00%	0.00%	0.07%	0.07%
		# Loans		-	-	-	7	7
		% # Loans		0.00%	0.00%	0.00%	0.12%	0.12%
TOTAL		Balance		3,811,458.96	25,807,331.85	8,852,182.30	14,077,668.66	52,548,641.77
		% Balance		0.43%	2.89%	0.99%	1.58%	5.89%
		# Loans		23	190	65	105	383
		% # Loans		0.39%	3.25%	1.11%	1.79%	6.54%
Note: <1 Payment = 0-30days, 1 Payment = 31-60days, 2 Payments = 61-90days, 3+ Payments = 91+
								6 Months Moving Average
1 or 2 Payments Delinquent					3 or More Payments Delinquent
Total Foreclosure					Total Bankruptcy and REO
Note: Dates correspond to distribution dates.
				Page 11 of 27				© COPYRIGHT 2003 Deutsche Bank
	Morgan Stanley Dean Witter Capital I Inc. 2003-NC1
	Mortgage Pass-Through Certificates
	Delinquency Report for July 25, 2003 Distribution
	Delinquency Report - Group 1 Group
				<1 PAYMENT	1 PAYMENT	2 PAYMENTS	3+ PAYMENTS	TOTAL
DELINQUENT		Balance			16,776,859.28	2,449,687.94	989,915.92	20,216,463.14
		% Balance			2.74%	0.40%	0.16%	3.31%
		# Loans			131	17	6	154
		% # Loans			3.04%	0.39%	0.14%	3.57%
FORECLOSURE		Balance		-	-	4,448,471.50	7,080,114.42	11,528,585.92
		% Balance		0.00%	0.00%	0.73%	1.16%	1.89%
		# Loans		-	-	33	56	89
		% # Loans		0.00%	0.00%	0.77%	1.30%	2.06%
BANKRUPTCY		Balance		2,280,207.38	322,853.75	105,710.59	941,468.99	3,650,240.71
		% Balance		0.37%	0.05%	0.02%	0.15%	0.60%
		# Loans		17	3	1	9	30
		% # Loans		0.39%	0.07%	0.02%	0.21%	0.70%
REO		Balance		-	-	-	488,329.43	488,329.43
		% Balance		0.00%	0.00%	0.00%	0.08%	0.08%
		# Loans		-	-	-	6	6
		% # Loans		0.00%	0.00%	0.00%	0.14%	0.14%
TOTAL		Balance		2,280,207.38	17,099,713.03	7,003,870.03	9,499,828.76	35,883,619.20
		% Balance		0.37%	2.80%	1.15%	1.55%	5.87%
		# Loans		17	134	51	77	279
		% # Loans		0.39%	3.11%	1.18%	1.79%	6.47%
Note: <1 Payment = 0-30days, 1 Payment = 31-60days, 2 Payments = 61-90days, 3+ Payments = 91+
								6 Months Moving Average
1 or 2 Payments Delinquent					3 or More Payments Delinquent
Total Foreclosure					Total Bankruptcy and REO
Note: Dates correspond to distribution dates.
				Page 12 of 27				© COPYRIGHT 2003 Deutsche Bank
	Morgan Stanley Dean Witter Capital I Inc. 2003-NC1
	Mortgage Pass-Through Certificates
	Delinquency Report for July 25, 2003 Distribution
	Delinquency Report - Group 2 Group
				<1 PAYMENT	1 PAYMENT	2 PAYMENTS	3+ PAYMENTS	TOTAL
DELINQUENT		Balance			8,617,472.26	907,853.56	136,119.91	9,661,445.73
		% Balance			3.08%	0.32%	0.05%	3.45%
		# Loans			55	5	2	62
		% # Loans			3.56%	0.32%	0.13%	4.02%
FORECLOSURE		Balance		-	-	631,204.88	3,569,629.18	4,200,834.06
		% Balance		0.00%	0.00%	0.23%	1.27%	1.50%
		# Loans		-	-	7	20	27
		% # Loans		0.00%	0.00%	0.45%	1.30%	1.75%
BANKRUPTCY		Balance		1,531,251.58	90,146.56	309,253.83	706,111.38	2,636,763.35
		% Balance		0.55%	0.03%	0.11%	0.25%	0.94%
		# Loans		6	1	2	5	14
		% # Loans		0.39%	0.06%	0.13%	0.32%	0.91%
REO		Balance		-	-	-	165,979.43	165,979.43
		% Balance		0.00%	0.00%	0.00%	0.06%	0.06%
		# Loans		-	-	-	1	1
		% # Loans		0.00%	0.00%	0.00%	0.06%	0.06%
TOTAL		Balance		1,531,251.58	8,707,618.82	1,848,312.27	4,577,839.90	16,665,022.57
		% Balance		0.55%	3.11%	0.66%	1.63%	5.95%
		# Loans		6	56	14	28	104
		% # Loans		0.39%	3.63%	0.91%	1.81%	6.74%
Note: <1 Payment = 0-30days, 1 Payment = 31-60days, 2 Payments = 61-90days, 3+ Payments = 91+
								6 Months Moving Average
1 or 2 Payments Delinquent					3 or More Payments Delinquent
Total Foreclosure					Total Bankruptcy and REO
Note: Dates correspond to distribution dates.
				Page 13 of 27				© COPYRIGHT 2003 Deutsche Bank
	Morgan Stanley Dean Witter Capital I Inc. 2003-NC1
	Mortgage Pass-Through Certificates
	REO Report for July 25, 2003 Distribution
	REO Report - Mortgage Loans that Become REO During Current Distribution
SUMMARY				LOAN GROUP
Total Loan Count = 3				Loan Group 1 = Group 1 Group; REO Book Value = Not Available
Total Original Principal Balance = 274,600.00				Loan Group 2 = Group 2 Group; REO Book Value = Not Available
Total Current Balance = 273,223.35
REO Book Value = Not Available
REO Book Value reported corresponds to total REO loans, including loans that become REO during current distribution.
Loan Number		Original	Stated		Current	State &
&		Principal	Principal	Paid to	Note	LTV at	Original	Origination
Loan Group		Balance	Balance	Date	Rate	Origination	Term	Date
684374 1		55,500.00	55,217.03	Oct-01-02	9.500%	AL - 75.00%	360
690666 1		146,000.00	145,258.80	Dec-01-02	8.990%	MN - 78.07%	360
696050 1		73,100.00	72,747.52	Nov-01-02	9.250%	MO - 85.00%	360
				Page 14 of 27				© COPYRIGHT 2003 Deutsche Bank
	Morgan Stanley Dean Witter Capital I Inc. 2003-NC1
	Mortgage Pass-Through Certificates
	Foreclosure Report for July 25, 2003 Distribution
	Foreclosure Report - Mortgage Loans that Become Foreclosure During Current Distribution
SUMMARY				LOAN GROUP
Total Loan Count = 47				Loan Group 1 = Group 1 Group
Total Original Principal Balance = 5,906,430.00				Loan Group 2 = Group 2 Group
Total Current Balance = 5,874,408.92
Loan Number		Original	Stated		Current	State &
&		Principal	Principal	Paid to	Note	LTV at	Original	Origination
Loan Group		Balance	Balance	Date	Rate	Origination	Term	Date
633660 1		178,300.00	177,191.90	Mar-01-03	7.990%	CA - 79.99%	360
644474 1		55,200.00	54,889.69	Mar-01-03	8.500%	IA - 80.00%	360
656620 1		191,250.00	190,374.21	Mar-01-03	9.490%	NJ - 85.00%	360
667973 1		215,250.00	214,157.19	Mar-01-03	8.990%	CA - 75.00%	360
671515 1		195,000.00	194,010.02	Mar-01-03	8.990%	FL - 75.00%	360
671710 1		194,400.00	193,363.48	Mar-01-03	8.750%	FL - 80.00%	360
672945 1		182,750.00	181,547.96	Dec-01-02	8.250%	LA - 85.00%	360
676077 1		131,200.00	130,336.94	Mar-01-03	8.250%	AZ - 80.00%	360
679902 1		153,000.00	152,336.26	Mar-01-03	9.750%	MI - 85.00%	360
681515 1		209,950.00	208,761.22	Mar-01-03	8.990%	FL - 85.00%	360
684600 1		130,240.00	129,514.63	Mar-01-03	8.500%	WA - 88.00%	360
685564 1		240,000.00	238,495.73	Mar-01-03	8.490%	CA - 80.00%	360
687272 1		54,000.00	53,019.93	Mar-01-03	10.400%	IL - 75.00%	360
689161 1		108,720.00	108,219.47	Jan-01-03	9.990%	IN - 80.00%	360
689689 1		63,000.00	62,766.60	Mar-01-03	10.500%	MI - 69.23%	360
689706 1		139,400.00	138,434.12	Mar-01-03	7.990%	CA - 85.00%	360
690376 1		94,000.00	93,412.03	Mar-01-03	8.500%	WA - 80.00%	360
690672 1		35,000.00	34,844.15	Mar-01-03	10.300%	NE - 59.32%	360
690939 1		153,930.00	153,296.26	Mar-01-03	10.000%	VA - 70.00%	360
691862 1		97,665.00	97,054.09	Mar-01-03	8.500%	MS - 85.00%	360
694498 1		57,200.00	56,767.20	Mar-01-03	6.990%	TN - 80.00%	360
694659 1		96,000.00	95,512.63	Mar-01-03	8.990%	IN - 76.80%	360
695170 1		41,600.00	41,399.74	Mar-01-03	9.250%	KS - 80.00%	360
695775 1		79,200.00	78,792.84	Mar-01-03	8.990%	TN - 80.00%	360
696788 1		220,000.00	218,765.96	Mar-01-03	8.500%	FL - 80.00%	360
697291 1		256,750.00	255,982.51	Mar-01-03	11.500%	CA - 65.00%	360
697688 1		204,000.00	202,732.17	Feb-01-03	7.990%	CA - 85.00%	360
697806 1		96,000.00	95,713.06	Mar-01-03	11.500%	MI - 80.00%	360
697979 1		188,000.00	186,774.45	Mar-01-03	7.750%	NJ - 80.00%	360
699408 1		61,600.00	61,315.48	Mar-01-03	9.450%	TX - 80.00%	360
701865 1		287,600.00	286,326.05	Mar-01-03	9.650%	MA - 80.00%	360
703068 1		215,000.00	214,112.94	Mar-01-03	9.990%	MN - 64.18%	360
704571 1		52,800.00	52,530.76	Mar-01-03	8.990%	MO - 80.00%	360
705587 1		36,900.00	36,504.81	Mar-01-03	8.990%	TN - 90.00%	360
706279 1		91,000.00	90,662.12	Jan-01-03	10.490%	MI - 62.33%	360
707064 1		189,000.00	187,992.26	Mar-01-03	8.750%	MS - 58.15%	360
708938 1		64,000.00	63,722.36	Mar-01-03	9.750%	MS - 80.00%	360
713893 1		68,000.00	67,694.89	Jan-01-03	9.000%	NE - 85.00%	360
680675 2		55,000.00	54,691.43	Mar-01-03	8.500%	NC - 69.62%	360
682334 2		128,000.00	127,317.52	Mar-01-03	8.750%	OH - 79.01%	360
683086 2		55,200.00	55,021.66	Mar-01-03	11.650%	TX - 80.00%	360
686634 2		82,000.00	81,007.90	Mar-01-03	10.450%	TX - 60.74%	240
693754 2		58,125.00	57,941.57	Dec-01-02	11.250%	FL - 75.00%	360
696465 2		100,000.00	99,492.30	Mar-01-03	8.990%	TX - 66.23%	360
				Page 15 of 27				© COPYRIGHT 2003 Deutsche Bank
	Morgan Stanley Dean Witter Capital I Inc. 2003-NC1
	Mortgage Pass-Through Certificates
	Foreclosure Report for July 25, 2003 Distribution
	Foreclosure Report - Mortage Loans that Become Foreclosure During Current Distribution
Loan Number		Original	Stated		Current	State &
&		Principal	Principal	Paid to	Note	LTV at	Original	Origination
Loan Group		Balance	Balance	Date	Rate	Origination	Term	Date
701377 2		86,350.00	85,934.36	Nov-01-02	9.250%	TX - 78.50%	360
706550 2		104,850.00	104,255.83	Mar-01-03	8.450%	OK - 90.00%	360
707252 2		110,000.00	109,418.24	Mar-01-03	8.790%	CA - 78.01%	360
				Page 16 of 27				© COPYRIGHT 2003 Deutsche Bank
	Morgan Stanley Dean Witter Capital I Inc. 2003-NC1
	Mortgage Pass-Through Certificates
	Prepayment Report for July 25, 2003 Distribution
	Prepayment Report - Voluntary Prepayments
VOLUNTARY PREPAYMENTS						GROUP 2	GROUP 1	TOTAL
	Current
	Number of Paid in Full Loans					33	114	147
	Number of Repurchased Loans					-	-	-
	Total Number of Loans Prepaid in Full					33	114	147
	Paid in Full Balance					8,702,979.64	18,539,155.70	27,242,135.34
	Repurchased Loans Balance					-	-	-
	Curtailments Amount					33,766.54	47,909.22	81,675.76
	Total Prepayment Amount					8,736,746.18	18,587,064.92	27,323,811.10
	Cumulative
	Number of Paid in Full Loans					110	352	462
	Number of Repurchased Loans					-	-	-
	Total Number of Loans Prepaid in Full					110	352	462
	Paid in Full Balance					29,014,693.94	57,808,440.89	86,823,134.83
	Repurchased Loans Balance					-	-	-
	Curtailments Amount					592,171.82	294,941.43	887,113.25
	Total Prepayment Amount					29,606,865.76	58,103,382.32	87,710,248.08
SPACE INTENTIONALLY LEFT BLANK
Total Prepayments by Groups (in thousands of dollars)					Total Prepayments (in thousands of dollars)
				Page 17 of 27				© COPYRIGHT 2003 Deutsche Bank
	Morgan Stanley Dean Witter Capital I Inc. 2003-NC1
	Mortgage Pass-Through Certificates
	Prepayment Report for July 25, 2003 Distribution
	Prepayment Report - Voluntary Prepayments
VOLUNTARY PREPAYMENT RATES						GROUP 2	GROUP 1	TOTAL
	SMM					3.02%	2.95%	2.97%
	3 Months Avg SMM					2.30%	2.18%	2.22%
	12 Months Avg SMM
	Avg SMM Since Cut-off					1.66%	1.50%	1.55%
	CPR					30.82%	30.18%	30.38%
	3 Months Avg CPR					24.40%	23.21%	23.59%
	12 Months Avg CPR
	Avg CPR Since Cut-off					18.18%	16.58%	17.09%
	PSA					1674.34%	1643.93%	1653.54%
	3 Months Avg PSA Approximation					1486.38%	1418.74%	1440.19%
	12 Months Avg PSA Approximation
	Avg PSA Since Cut-off Approximation					1354.58%	1240.77%	1277.01%
	Group 1
	Group 2
CPR by Groups					Total CPR
PSA by Groups					Total PSA
				Page 18 of 27				© COPYRIGHT 2003 Deutsche Bank
	Morgan Stanley Dean Witter Capital I Inc. 2003-NC1
	Mortgage Pass-Through Certificates
	Prepayment Report for July 25, 2003 Distribution
	Prepayment Report - Voluntary Prepayments
	Group 1
	Group 2
CPR Avg since Cut-Off by Groups					Total CPR Avg since Cut-Off
PSA Avg since Cut-Off by Groups					Total PSA Avg since Cut-Off
PREPAYMENT CALCULATION METHODOLOGY
Single Monthly Mortality (SMM): (Voluntary partial and full prepayments + Repurchases)/(Beg Principal Balance - Sched Principal)
Conditional Prepayment Rate (CPR): 1-((1-SMM)^12)
PSA Standard Prepayment Model: CPR/(0.02*min(30,WAS))
Average SMM over period between nth month and mth month (AvgSMMn,m): [(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/(0.02*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 19 of 27				© COPYRIGHT 2003 Deutsche Bank
	Morgan Stanley Dean Witter Capital I Inc. 2003-NC1
	Mortgage Pass-Through Certificates
	Prepayment Detail Report for July 25, 2003 Distribution
	Prepayment Detail Report - Loans Prepaid in Full During Current Distribution
SUMMARY						LOAN GROUP
Total Loan Count = 147						Loan Group 1 = Group 1 Group
Total Original Principal Balance = 27,411,070.00						Loan Group 2 = Group 2 Group
Total Prepayment Amount = 27,242,135.34
Loan Number			Original			Current	State &	Type Prepayment
&		Loan	Principal	Prepayment	Prepayment	Note	LTV at	&	Origination
Loan Group		Status	Balance	Amount	Date	Rate	Origination	Original Term	Date
652013 1			116,250.00	115,779.10	Jun-10-03	9.500%	CA - 75.00%	Paid Off - 360
654058 1			117,500.00	116,869.23	Jun-20-03	9.250%	AR - 50.00%	Paid Off - 360
662935 1			138,750.00	138,126.23	Jun-23-03	8.990%	CA - 75.00%	Paid Off - 360
663002 1			225,000.00	222,915.71	Jun-18-03	6.500%	CA - 75.00%	Paid Off - 360
667465 1			82,500.00	81,635.02	Jun-26-03	7.250%	CA - 75.00%	Paid Off - 360
667916 1			201,750.00	200,298.75	Jun-30-03	7.250%	CA - 75.00%	Paid Off - 360
668414 1			60,900.00	60,521.51	Jun-19-03	7.990%	NC - 79.09%	Paid Off - 360
672181 1			42,415.00	42,204.23	Jun-19-03	8.500%	NC - 85.00%	Paid Off - 360
672616 1			123,250.00	122,695.85	Jun-05-03	8.990%	IL - 85.00%	Paid Off - 360
674738 1			181,800.00	180,798.74	Jun-19-03	7.990%	NY - 90.00%	Paid Off - 360
677206 1			186,500.00	185,021.86	Jun-18-03	6.750%	FL - 61.15%	Paid Off - 360
677211 1			190,500.00	189,795.82	Jun-18-03	12.000%	CA - 75.00%	Paid Off - 360
677404 1			250,500.00	248,784.31	Jun-05-03	7.500%	CA - 84.92%	Paid Off - 360
677751 1			82,500.00	82,229.56	Jun-26-03	10.500%	OH - 75.00%	Paid Off - 360
678291 1			88,000.00	87,642.50	Jun-13-03	9.490%	MI - 83.02%	Paid Off - 360
680065 1			139,000.00	138,485.09	Jun-03-03	10.500%	CA - 63.18%	Paid Off - 360
681178 1			108,000.00	107,563.00	Jun-05-03	9.500%	RI - 80.00%	Paid Off - 360
681346 1			84,915.00	84,534.01	Jun-25-03	9.000%	CA - 85.00%	Paid Off - 360
681512 1			360,000.00	354,662.79	Jun-25-03	7.500%	MN - 75.00%	Paid Off - 240
681648 1			258,750.00	256,828.59	Jun-30-03	7.500%	NJ - 75.00%	Paid Off - 360
681970 1			222,550.00	220,673.47	Jun-09-03	6.990%	CA - 55.64%	Paid Off - 360
683318 1			106,000.00	105,524.02	Jun-09-03	9.500%	FL - 84.80%	Paid Off - 360
683449 1			169,500.00	168,217.51	Jun-24-03	6.990%	IL - 77.05%	Paid Off - 360
683927 1			215,050.00	214,083.20	Jun-18-03	8.990%	CA - 85.00%	Paid Off - 360
683977 1			128,800.00	128,160.00	Jun-30-03	8.500%	IL - 80.00%	Paid Off - 360
684139 1			243,000.00	241,415.88	Jun-30-03	7.750%	CA - 90.00%	Paid Off - 360
684143 1			80,560.00	80,036.75	Jun-05-03	7.990%	NY - 80.00%	Paid Off - 360
684188 1			119,850.00	118,987.91	Jun-05-03	7.250%	FL - 85.00%	Paid Off - 360
684315 1			240,000.00	238,273.64	Jun-27-03	7.250%	CA - 72.73%	Paid Off - 360
684502 1			221,000.00	219,613.51	Jun-13-03	7.950%	CA - 83.40%	Paid Off - 360
685261 1			330,000.00	327,384.52	Jun-12-03	6.750%	IL - 49.77%	Paid Off - 360
685499 1			97,500.00	96,762.24	Jun-03-03	6.990%	MI - 75.00%	Paid Off - 360
686398 1			89,250.00	88,869.69	Jun-03-03	9.250%	NC - 85.00%	Paid Off - 360
687451 1			110,000.00	108,625.32	Jun-26-03	9.490%	MA - 61.62%	Paid Off - 360
687573 1			60,000.00	59,655.98	Jun-26-03	8.490%	MI - 50.85%	Paid Off - 360
687900 1			297,000.00	294,216.97	Jun-23-03	7.250%	MA - 88.13%	Paid Off - 360
689010 1			154,000.00	153,065.35	Jun-04-03	7.500%	VA - 70.00%	Paid Off - 360
689249 1			215,000.00	209,633.75	Jun-11-03	7.375%	CA - 47.78%	Paid Off - 180
689582 1			182,000.00	181,183.44	Jun-11-03	9.000%	IN - 84.65%	Paid Off - 360
689733 1			272,000.00	270,213.90	Jun-17-03	7.990%	CA - 85.00%	Paid Off - 360
689961 1			76,000.00	75,405.14	Jun-30-03	6.990%	AL - 80.00%	Paid Off - 360
690182 1			300,000.00	297,989.50	Jun-12-03	7.000%	IL - 80.00%	Paid Off - 360
690367 1			43,000.00	42,725.88	Jun-25-03	7.250%	FL - 30.71%	Paid Off - 360
690435 1			252,000.00	251,079.75	Jun-27-03	9.990%	MN - 70.00%	Paid Off - 360
					Page 20 of 27				© COPYRIGHT 2003 Deutsche Bank
	Morgan Stanley Dean Witter Capital I Inc. 2003-NC1
	Mortgage Pass-Through Certificates
	Prepayment Detail Report for July 25, 2003 Distribution
	Prepayment Detail Report - Loans Prepaid in Full During Current Distribution
Loan Number			Original			Current	State &
&		Loan	Principal	Prepayment	Prepayment	Note	LTV at	Original	Origination
Loan Group		Status	Balance	Amount	Date	Rate	Origination	Term	Date
690982 1			180,000.00	175,362.95	Jun-09-03	7.000%	IL - 80.00%	Paid Off - 180
691119 1			265,250.00	263,433.32	Jun-26-03	7.500%	CA - 86.97%	Paid Off - 360
691257 1			144,000.00	143,242.49	Jun-26-03	8.750%	CA - 90.00%	Paid Off - 360
691390 1			128,000.00	127,031.48	Jun-11-03	6.990%	CA - 76.19%	Paid Off - 360
691533 1			270,000.00	268,141.29	Jun-11-03	7.750%	CA - 75.42%	Paid Off - 360
691685 1			200,000.00	198,819.98	Jun-30-03	7.650%	MD - 49.14%	Paid Off - 360
691805 1			180,000.00	178,881.26	Jun-10-03	7.990%	FL - 90.00%	Paid Off - 360
692398 1			316,000.00	314,040.01	Jun-17-03	8.000%	NY - 80.00%	Paid Off - 360
692533 1			208,250.00	207,161.68	Jun-27-03	8.250%	CA - 85.00%	Paid Off - 360
693430 1			208,000.00	207,073.38	Jun-23-03	9.250%	CA - 80.00%	Paid Off - 360
693537 1			213,600.00	212,303.74	Jun-24-03	7.500%	CA - 80.00%	Paid Off - 360
693626 1			101,600.00	101,120.24	Jun-05-03	8.750%	FL - 80.00%	Paid Off - 360
693868 1			190,000.00	189,102.77	Jun-23-03	8.750%	CA - 74.51%	Paid Off - 360
694876 1			127,500.00	126,626.38	Jun-12-03	6.990%	CA - 75.00%	Paid Off - 360
694899 1			102,000.00	101,268.58	Jun-30-03	8.990%	NE - 85.00%	Paid Off - 360
695068 1			176,400.00	175,932.55	Jun-12-03	11.490%	MA - 70.00%	Paid Off - 360
695453 1			168,300.00	167,276.59	Jun-16-03	7.490%	MI - 90.00%	Paid Off - 360
695746 1			37,000.00	36,269.86	Jun-13-03	7.750%	OH - 31.62%	Paid Off - 360
696856 1			268,000.00	266,171.10	Jun-27-03	6.900%	CA - 74.44%	Paid Off - 360
697218 1			194,650.00	193,665.80	Jun-19-03	8.500%	CA - 85.00%	Paid Off - 360
697290 1			48,300.00	48,047.53	Jun-06-03	8.250%	IN - 70.00%	Paid Off - 360
697574 1			189,200.00	188,349.42	Jun-13-03	8.990%	VA - 80.00%	Paid Off - 360
698202 1			85,000.00	84,576.79	Jun-20-03	8.490%	CA - 28.33%	Paid Off - 360
698478 1			165,000.00	163,895.66	Jun-19-03	7.000%	CA - 70.21%	Paid Off - 360
698595 1			208,000.00	207,158.46	Jun-30-03	9.500%	NJ - 80.00%	Paid Off - 360
698688 1			114,750.00	114,179.87	Jun-02-03	8.500%	CA - 85.00%	Paid Off - 360
698896 1			72,000.00	71,676.99	Jun-30-03	9.000%	MI - 80.00%	Paid Off - 360
699197 1			83,700.00	82,919.75	Jun-11-03	8.990%	NE - 90.00%	Paid Off - 360
699405 1			118,800.00	118,000.68	Jun-05-03	7.250%	FL - 80.00%	Paid Off - 360
699417 1			85,000.00	84,477.13	Jun-26-03	7.750%	FL - 66.41%	Paid Off - 360
699782 1			119,000.00	118,518.52	Jun-23-03	9.500%	CA - 70.00%	Paid Off - 360
700227 1			265,000.00	263,808.65	Jun-09-03	8.990%	CA - 60.23%	Paid Off - 360
700514 1			153,000.00	152,329.26	Jun-30-03	9.125%	WA - 85.00%	Paid Off - 360
701144 1			190,400.00	189,300.32	Jun-05-03	7.750%	IL - 80.00%	Paid Off - 360
701236 1			209,500.00	208,227.40	Jun-16-03	7.990%	VA - 83.80%	Paid Off - 360
701239 1			59,189.00	58,892.77	Jun-24-03	8.490%	MI - 79.99%	Paid Off - 360
701246 1			132,600.00	131,941.19	Jun-30-03	8.500%	IL - 74.92%	Paid Off - 360
701251 1			224,000.00	222,992.96	Jun-30-03	8.990%	CA - 80.00%	Paid Off - 360
701350 1			266,000.00	263,925.69	Jun-13-03	7.250%	CA - 70.00%	Paid Off - 360
701845 1			263,500.00	262,315.39	Jun-30-03	8.990%	HI - 85.00%	Paid Off - 360
702134 1			285,000.00	282,758.41	Jun-23-03	7.990%	CA - 89.06%	Paid Off - 360
702233 1			96,050.00	95,467.07	Jun-18-03	7.500%	TX - 85.00%	Paid Off - 360
702456 1			75,000.00	74,754.09	Jun-13-03	10.500%	NE - 75.00%	Paid Off - 360
702602 1			175,200.00	174,025.06	Jun-30-03	6.990%	CA - 80.00%	Paid Off - 360
702908 1			36,000.00	35,820.54	Jun-18-03	8.500%	MI - 52.94%	Paid Off - 360
703234 1			200,000.00	198,867.63	Jun-09-03	7.850%	DC - 61.54%	Paid Off - 360
703300 1			130,000.00	129,128.13	Jun-13-03	6.990%	CA - 65.00%	Paid Off - 360
703327 1			77,900.00	77,377.57	Jun-09-03	6.990%	MI - 76.37%	Paid Off - 360
703527 1			171,520.00	170,649.60	Jun-20-03	8.490%	CA - 79.78%	Paid Off - 360
703907 1			125,703.00	125,046.82	Jun-30-03	8.400%	CO - 75.72%	Paid Off - 360
704117 1			122,400.00	121,913.52	Jun-17-03	9.750%	IL - 85.00%	Paid Off - 360
704751 1			74,700.00	74,381.68	Jun-11-03	9.250%	MI - 90.00%	Paid Off - 360
					Page 21 of 27				© COPYRIGHT 2003 Deutsche Bank
	Morgan Stanley Dean Witter Capital I Inc. 2003-NC1
	Mortgage Pass-Through Certificates
	Prepayment Detail Report for July 25, 2003 Distribution
	Prepayment Detail Report - Loans Prepaid in Full During Current Distribution
Loan Number			Original			Current	State &
&		Loan	Principal	Prepayment	Prepayment	Note	LTV at	Original	Origination
Loan Group		Status	Balance	Amount	Date	Rate	Origination	Term	Date
704915 1			190,000.00	188,788.82	Jun-04-03	7.250%	CA - 72.52%	Paid Off - 360
705046 1			190,000.00	189,200.08	Jun-19-03	9.490%	CA - 45.24%	Paid Off - 360
706015 1			240,000.00	238,541.07	Jun-27-03	7.490%	CA - 80.00%	Paid Off - 360
706622 1			272,700.00	271,198.55	Jun-20-03	7.990%	CA - 90.00%	Paid Off - 360
707116 1			35,000.00	34,787.15	Jun-30-03	7.490%	MI - 46.67%	Paid Off - 360
707221 1			307,000.00	304,701.00	Jun-03-03	6.750%	CA - 71.73%	Paid Off - 360
707391 1			226,400.00	225,483.97	Jun-04-03	9.500%	CA - 80.00%	Paid Off - 360
707394 1			129,000.00	128,134.88	Jun-30-03	6.990%	CA - 46.07%	Paid Off - 360
707398 1			177,650.00	176,671.85	Jun-11-03	7.990%	CA - 93.50%	Paid Off - 360
707439 1			155,500.00	154,780.54	Jun-30-03	8.850%	AZ - 84.97%	Paid Off - 360
707498 1			179,200.00	178,436.39	Jun-05-03	9.250%	IL - 80.00%	Paid Off - 360
707601 1			55,000.00	54,776.92	Jun-23-03	9.500%	FL - 62.50%	Paid Off - 360
708156 1			285,000.00	283,183.25	Jun-24-03	7.250%	NY - 75.00%	Paid Off - 360
708243 1			168,000.00	167,284.10	Jun-16-03	9.250%	LA - 79.25%	Paid Off - 360
709313 1			180,000.00	178,851.90	Jun-30-03	7.250%	CA - 90.00%	Paid Off - 360
709770 1			91,000.00	90,523.36	Jun-30-03	8.250%	IL - 65.00%	Paid Off - 360
711304 1			75,000.00	74,480.58	Jun-30-03	8.990%	MI - 75.00%	Paid Off - 360
711665 1			142,400.00	141,492.07	Jun-19-03	7.250%	CA - 80.00%	Paid Off - 360
653064 2			588,000.00	588,000.00	Jun-25-03	5.837%	CT - 80.00%	Paid Off - 300
666433 2			360,000.00	357,534.39	Jun-03-03	7.500%	CA - 90.00%	Paid Off - 360
670399 2			562,500.00	557,532.48	Jun-17-03	6.750%	CA - 75.00%	Paid Off - 360
671617 2			102,000.00	100,466.44	Jun-05-03	9.640%	IL - 85.00%	Paid Off - 240
679277 2			51,450.00	51,188.81	Jun-23-03	8.990%	IL - 70.00%	Paid Off - 360
679821 2			315,000.00	312,678.19	Jun-12-03	6.500%	CA - 74.82%	Paid Off - 360
683292 2			454,000.00	453,986.69	Jun-06-03	5.840%	CA - 29.79%	Paid Off - 300
685259 2			152,750.00	152,425.61	Jun-12-03	12.500%	MN - 65.00%	Paid Off - 360
685894 2			342,000.00	340,081.58	Jun-27-03	8.500%	CA - 90.00%	Paid Off - 360
687374 2			71,200.00	70,809.46	Jun-11-03	8.990%	IL - 80.00%	Paid Off - 360
688231 2			184,000.00	183,157.33	Jun-11-03	9.750%	CA - 80.00%	Paid Off - 360
690146 2			51,000.00	50,682.12	Jun-23-03	8.750%	AL - 44.93%	Paid Off - 360
690549 2			105,000.00	104,581.15	Jun-18-03	10.150%	NM - 80.00%	Paid Off - 360
691703 2			248,000.00	246,634.55	Jun-25-03	7.990%	IL - 80.00%	Paid Off - 360
692918 2			99,450.00	98,998.28	Jun-30-03	8.940%	FL - 85.00%	Paid Off - 360
694856 2			337,500.00	335,700.44	Jun-19-03	8.150%	NY - 84.38%	Paid Off - 360
695195 2			407,443.00	404,439.83	Jun-10-03	6.500%	CA - 90.00%	Paid Off - 360
696362 2			50,000.00	49,660.09	Jun-26-03	9.490%	FL - 80.00%	Paid Off - 360
696443 2			315,000.00	312,787.08	Jun-04-03	6.750%	CA - 57.27%	Paid Off - 360
696741 2			131,400.00	130,713.29	Jun-10-03	8.250%	MA - 65.70%	Paid Off - 360
697582 2			171,200.00	170,285.29	Jun-26-03	8.140%	IN - 80.00%	Paid Off - 360
697823 2			450,000.00	448,082.54	Jun-30-03	9.250%	CA - 75.00%	Paid Off - 360
697969 2			373,600.00	371,442.21	Jun-30-03	7.750%	CA - 80.00%	Paid Off - 360
698152 2			306,000.00	303,947.88	Jun-06-03	6.990%	CA - 85.00%	Paid Off - 360
698182 2			472,500.00	469,903.72	Jun-18-03	8.000%	IL - 75.00%	Paid Off - 360
698380 2			252,000.00	250,683.03	Jun-16-03	8.250%	IL - 90.00%	Paid Off - 360
698588 2			374,000.00	371,940.78	Jun-10-03	7.990%	CA - 85.00%	Paid Off - 360
699344 2			67,500.00	67,219.95	Jun-30-03	10.990%	IA - 75.00%	Paid Off - 360
700714 2			480,000.00	477,357.18	Jun-25-03	7.990%	NY - 64.00%	Paid Off - 360
700841 2			136,000.00	135,364.29	Jun-05-03	8.800%	CA - 80.00%	Paid Off - 360
702589 2			279,000.00	277,682.55	Jun-03-03	8.750%	CA - 90.00%	Paid Off - 360
703463 2			400,000.00	397,317.56	Jun-30-03	6.990%	IL - 80.00%	Paid Off - 360
706355 2			59,925.00	59,694.85	Jun-10-03	9.750%	VT - 75.00%	Paid Off - 360
					Page 22 of 27				© COPYRIGHT 2003 Deutsche Bank
	Morgan Stanley Dean Witter Capital I Inc. 2003-NC1
	Mortgage Pass-Through Certificates
	Realized Loss Report for July 25, 2003 Distribution
	Realized Loss Report - Collateral
COLLATERAL REALIZED LOSSES						GROUP 2	GROUP 1	TOTAL
	Current
	Number of Loans Liquidated					-	1	1
	Collateral Realized Loss/(Gain) Amount					-	682.02	682.02
	Net Liquidation Proceeds					-	94,674.17	94,674.17
	Cumulative
	Number of Loans Liquidated					-	1	1
	Collateral Realized Loss/(Gain) Amount					-	682.02	682.02
	Net Liquidation Proceeds					-	94,674.17	94,674.17
	Note: Collateral Realized Loss Amount may include adjustments to loans liquidated in prior periods.
	Cumulative Loss Percentage							0.00%
	Group 1						3 Months Moving Average
	Group 2
Collateral Loss Severity Approximation by Groups					Collateral Loss Severity Approximation
				Page 23 of 27				© COPYRIGHT 2003 Deutsche Bank
	Morgan Stanley Dean Witter Capital I Inc. 2003-NC1
	Mortgage Pass-Through Certificates
	Realized Loss Report for July 25, 2003 Distribution
	Realized Loss Report - Collateral
DEFAULT SPEEDS						GROUP 2	GROUP 1	TOTAL
	MDR					0.00%	0.02%	0.01%
	3 Months Avg MDR					0.00%	0.01%	0.00%
	12 Months Avg MDR
	Avg MDR Since Cut-off					0.00%	0.00%	0.00%
	CDR					0.00%	0.18%	0.12%
	3 Months Avg CDR					0.00%	0.06%	0.04%
	12 Months Avg CDR
	Avg CDR Since Cut-off					0.00%	0.03%	0.02%
	SDA					0.00%	0.99%	0.68%
	3 Months Avg SDA Approximation					0.00%	0.37%	0.25%
	12 Months Avg SDA Approximation
	Avg SDA Since Cut-off Approximation					0.00%	0.23%	0.15%
	Loss Severity Approximation for Current Period
	3 Months Avg Loss Severity Approximation
	12 Months Avg Loss Severity Approximation
	Avg Loss Severity Approximation Since Cut-off
	Group 1
	Group 2
CDR by Groups					Total CDR
SDA by Groups					Total SDA
				Page 24 of 27				© COPYRIGHT 2003 Deutsche Bank
	Morgan Stanley Dean Witter Capital I Inc. 2003-NC1
	Mortgage Pass-Through Certificates
	Realized Loss Report for July 25, 2003 Distribution
	Realized Loss Report - Collateral
	Group 1
	Group 2
CDR Avg since Cut-Off by Groups					Total CDR Avg since Cut-Off
SDA Avg since Cut-Off by Groups					Total SDA Avg since Cut-Off
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: 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 25 of 27				© COPYRIGHT 2003 Deutsche Bank
	Morgan Stanley Dean Witter Capital I Inc. 2003-NC1
	Mortgage Pass-Through Certificates
	Realized Loss Detail Report for July 25, 2003 Distribution
	Realized Loss Detail Report - Loans Liquidated During Current Distribution
SUMMARY						LOAN GROUP
Total Loan Count = 1						Loan Group 1 = Group 1 Group
Total Original Principal Balance = 96,000.00						Loan Group 2 = Group 2 Group
Total Prior Principal Balance = 95,356.19
Total Realized Loss Amount = 682.02
Total Net Liquidation Proceeds = 94,674.17
Note: Total Realized Loss Amount may include adjustments to loans liquidated in prior periods.
Loan Number			Original	Prior		Current	State &
&		Loan	Principal	Principal	Realized	Note	LTV at	Original	Origination
Loan Group		Status	Balance	Balance	Loss/(Gain)	Rate	Origination	Term	Date
706596 1			96,000.00	95,356.19	682.02	6.990%	CA - 80.00%	360
					Page 26 of 27				© COPYRIGHT 2003 Deutsche Bank
	Morgan Stanley Dean Witter Capital I Inc. 2003-NC1
	Mortgage Pass-Through Certificates
	Triggers, Adj. Rate Cert. and Miscellaneous Report for July 25, 2003 Distribution
	Triggers, Adj. Rate Cert. and Miscellaneous Report
TRIGGER EVENTS						GROUP 2	GROUP 1	TOTAL
	Has a Stepdown Date occurred?							No
	Does Trigger Event exist?							No
	1. Does (A) equal or exceed (B)?							No
	(A) 60+ Day Delinq % (quotient of (x) over (y))							2.51%
	(x) Rolling 3-month avg. of 60+ Day Delinq. Loans							22,385,355.65
	(y) Stated Principal Balance							891,709,211.58
	(B) 40% of Sr. Enhancement Percentage							8.13%
	2. Does (A) exceed (B)?							No
	(A) Realized Loss % (quotient of (x) over (y))							0.00%
	(x) Agg. Realized Losses to date							682.02
	(y) Cut-off Date Pool Principal Balance							983,630,496.59
	(B) Applicable Percentage							100.00%
	Senior Enhancement Percentage (Prior)							20.32%
ADJUSTABLE RATE CERTIFICATE INFORMATION						GROUP 2	GROUP 1	TOTAL
SPACE INTENTIONALLY LEFT BLANK
ADDITIONAL INFORMATION						GROUP 2	GROUP 1	TOTAL
	Basis Risk Carry Forward Amount							0.00
	Class A-2 Certificate Deficiency Amount							0.00
	Preference Amount							0.00
	Reimbursement Amount							0.00
				Page 27 of 27				© COPYRIGHT 2003 Deutsche Bank