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):  September 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
     September 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:  Oct 01, 2003               By:  /s/  Katherine M. Wannenmacher
                                            Katherine M. Wannenmacher
                                            Vice President

                                   EXHIBIT INDEX

          DOCUMENT

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






			

	Morgan Stanley Dean Witter Capital I Inc. 2003-NC1
	Mortgage Pass-Through Certificates
	September 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				24
			12.	Realized Loss Detail Report				27
			13.	Triggers, Adj. Rate Cert. and Miscellaneous Report				28
				Total Number of Pages				28
			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: September 25, 2003
	Underwriter(s):		Morgan Stanley Dean Witter Lead Underwriter					Record Date: September 24, 2003
			Blaylock & Partners, L.P. Underwriter					August 29, 2003
			Utendahl Capital Partners, L.P. Underwriter
						Page 1 of 28					© 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 September 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			463,802,803.57	615,054.05	22,809,972.08	23,425,026.13	-	-	440,992,831.50
A-2	FLT	140,000,000.00			118,391,051.07	155,980.21	6,450,683.15	6,606,663.36	-	-	111,940,367.92
A-3	FLT	112,007,000.00			94,718,760.41	128,870.14	5,160,869.05	5,289,739.19	-	-	89,557,891.35
M-1	MEZ	60,493,000.00			60,493,000.00	112,516.98	-	112,516.98	-	-	60,493,000.00
M-2	MEZ	51,641,000.00			51,641,000.00	140,520.90	-	140,520.90	-	-	51,641,000.00
M-3	MEZ	8,361,000.00			8,361,000.00	23,111.20	-	23,111.20	-	-	8,361,000.00
B-1	SUB	32,952,000.00			32,952,000.00	135,066.59	-	135,066.59	-	-	32,952,000.00
B-2	SUB	16,229,000.00			16,229,000.00	57,437.14	-	57,437.14	-	-	16,229,000.00
X	SUB	17,214,497.00			17,213,533.69	4,043,360.13	-	4,043,360.13	-	-	17,213,533.69
P	SUB	-			-	768,986.35	-	768,986.35	-	-	-
UT-R	R	-			-	-	-	-	-	-	-
Total		983,630,497.00			863,802,148.74	6,180,903.69	34,421,524.28	40,602,427.97	-	-	829,380,624.46
	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	08/25/03	09/24/03		A-Act/360	61746WZE3	544,733,000.00	851.431442	1.129093	41.873674	43.002767	809.557768
A-2	08/25/03	09/24/03		A-Act/360	61746WYS3	140,000,000.00	845.650365	1.114144	46.076308	47.190453	799.574057
A-3	08/25/03	09/24/03		A-Act/360	61746WYT1	112,007,000.00	845.650365	1.150554	46.076308	47.226863	799.574057
M-1	08/25/03	09/24/03		A-Act/360	61746WYU8	60,493,000.00	1,000.000000	1.860000	-	1.860000	1,000.000000
M-2	08/25/03	09/24/03		A-Act/360	61746WYV6	51,641,000.00	1,000.000000	2.721111	-	2.721111	1,000.000000
M-3	08/25/03	09/24/03		A-Act/360	61746WYW4	8,361,000.00	1,000.000000	2.764167	-	2.764167	1,000.000000
B-1	08/25/03	09/24/03		A-Act/360	61746WYX2	32,952,000.00	1,000.000000	4.098889	-	4.098889	1,000.000000
B-2	08/25/03	09/24/03		A-Act/360	61746WYY0	16,229,000.00	1,000.000000	3.539167	-	3.539167	1,000.000000
X				A-30/360		17,214,497.00	999.944041	234.881108	-	234.881108	999.944041
P				-		-	-	-	-	-	-
UT-R				-		-	-	-	-	-	-
							Page 2 of 28				© 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 September 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		5,704,914.75		100,157,971.95	3,582,196.56	103,740,168.50	109,445,083.25	-	-	440,992,831.50
A-2	140,000,000.00		1,447,762.03		27,051,494.91	1,008,137.17	28,059,632.08	29,507,394.11	-	-	111,940,367.92
A-3	112,007,000.00		1,193,219.19		21,642,548.50	806,560.15	22,449,108.65	23,642,327.84	-	-	89,557,891.35
M-1	60,493,000.00		920,358.99		0.00	-	-	920,358.99	-	-	60,493,000.00
M-2	51,641,000.00		1,129,955.27		-	-	-	1,129,955.27	-	-	51,641,000.00
M-3	8,361,000.00		185,733.81		-	-	-	185,733.81	-	-	8,361,000.00
B-1	32,952,000.00		1,072,509.79		-	-	-	1,072,509.79	-	-	32,952,000.00
B-2	16,229,000.00		457,889.98		-	-	-	457,889.98	-	-	16,229,000.00
X	17,214,497.00		34,992,978.60		878.67	84.64	963.31	34,993,941.91	-	-	17,213,533.69
P	-		3,039,428.90		-	-	-	3,039,428.90	-	-	-
UT-R	-		-		-	-	-	-	-	-	-
Total	983,630,497.00		50,144,751.31		148,852,894.02	5,396,978.52	154,249,872.54	204,394,623.85	-	-	829,380,624.46
	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	1.54000%	463,802,803.57			615,054.05	-	-	-	615,054.05	615,054.05	-
A-2	1.53000%	118,391,051.07			155,980.21	-	-	-	155,980.21	155,980.21	-
A-3	1.58000%	94,718,760.41			128,870.14	-	-	-	128,870.14	128,870.14	-
M-1	2.16000%	60,493,000.00			112,516.98	-	-	-	112,516.98	112,516.98	-
M-2	3.16000%	51,641,000.00			140,520.90	-	-	-	140,520.90	140,520.90	-
M-3	3.21000%	8,361,000.00			23,111.20	-	-	-	23,111.20	23,111.20	-
B-1	4.76000%	32,952,000.00			135,066.59	-	-	-	135,066.59	135,066.59	-
B-2	4.11000%	16,229,000.00			57,437.14	-	-	-	57,437.14	57,437.14	-
X	5.47239%	17,213,533.69			4,043,360.13	-	-	-	4,043,360.13	4,043,360.13	-
P		-			768,986.35	-	-	-	768,986.35	768,986.35	-
UT-R		-			-	-	-	-	-	-	-
Total		863,802,148.74			6,180,903.69	-	-	-	6,180,903.69	6,180,903.69	-
							Page 3 of 28				© COPYRIGHT 2003 Deutsche Bank
	Morgan Stanley Dean Witter Capital I Inc. 2003-NC1
	Mortgage Pass-Through Certificates
	Collection Account Report for September 25, 2003 Distribution
	Collection Account Report
SUMMARY						GROUP 2	GROUP 1	TOTAL
	Principal Collections					11,602,388.28	22,791,970.28	34,394,358.56
	Principal Other Accounts					0.00	0.00	0.00
	TOTAL NET PRINCIPAL					11,602,388.28	22,791,970.28	34,394,358.56
	Interest Collections					1,720,536.34	3,765,882.74	5,486,419.08
	Interest Withdrawals					0.00	0.00	0.00
	Interest Other Accounts					0.00	0.00	0.00
	Interest Fees					(19,203.24)	(26,049.78)	(45,253.02)
	TOTAL NET INTEREST					1,701,333.10	3,739,832.96	5,441,166.06
	TOTAL PRINCIPAL & INTEREST DISTRIBUTABLE					13,303,721.38	26,531,803.24	39,835,524.62
	Prepayment Penalties Collected					202,452.00	566,534.35	768,986.35
	TOTAL AVAILABLE FUNDS FOR DISTRIBUTION					13,506,173.38	27,098,337.59	40,604,510.97
PRINCIPAL - COLLECTIONS						GROUP 2	GROUP 1	TOTAL
	Scheduled Principal Received					205,254.78	425,818.47	631,073.25
	Prepayments In Full					11,383,084.23	22,043,440.84	33,426,525.07
	Curtailments					14,049.27	36,390.59	50,439.86
	Liquidations					0.00	313,486.10	313,486.10
	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	(27,165.72)	(27,165.72)
	Delinquent Principal					(193,094.57)	(395,652.45)	(588,747.02)
	Advanced Principal					193,094.57	395,652.45	588,747.02
	TOTAL PRINCIPAL COLLECTED					11,602,388.28	22,791,970.28	34,394,358.56
				Page 4 of 28				© COPYRIGHT 2003 Deutsche Bank
	Morgan Stanley Dean Witter Capital I Inc. 2003-NC1
	Mortgage Pass-Through Certificates
	Collection Account Report for September 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					1,821,650.24	3,985,990.43	5,807,640.67
	Liquidation Interest					0.00	2,546.84	2,546.84
	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					(1,645,379.74)	(3,613,463.20)	(5,258,842.94)
	Interest Advanced					1,543,224.34	3,390,808.67	4,934,033.01
	Realized Losses of Interest					1,041.50	0.00	1,041.50
	TOTAL INTEREST COLLECTED					1,720,536.34	3,765,882.74	5,486,419.08
				Page 5 of 28				© COPYRIGHT 2003 Deutsche Bank
	Morgan Stanley Dean Witter Capital I Inc. 2003-NC1
	Mortgage Pass-Through Certificates
	Collection Account Report for September 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					11,276.22	23,831.41	35,107.63
	Class A-2 Certificate Insurance Premium					6,906.14	0.00	6,906.14
	Trustee Fees					1,020.88	2,218.37	3,239.25
	TOTAL INTEREST OTHER FEES					19,203.24	26,049.78	45,253.02
				Page 6 of 28				© COPYRIGHT 2003 Deutsche Bank
	Morgan Stanley Dean Witter Capital I Inc. 2003-NC1
	Mortgage Pass-Through Certificates
	Credit Enhancement Report for September 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							17,186,367.97
	Ending Subordinated Amount							17,213,533.69
	Specified Subordinated Amount							17,213,533.69
	Senior Enhancement Percentage							22.54%
				Page 7 of 28				© COPYRIGHT 2003 Deutsche Bank
	Morgan Stanley Dean Witter Capital I Inc. 2003-NC1
	Mortgage Pass-Through Certificates
	Collateral Report for September 25, 2003 Distribution
	Collateral Report
COLLATERAL						GROUP 2	GROUP 1	TOTAL
	Loan Count:
	Original					1653	4664	6317
	Prior					1,513	4,196	5,709
	Prefunding					-	-	-
	Scheduled Paid Offs					-	-	-
	Full Voluntary Prepayments					(49)	(137)	(186)
	Repurchases					-	-	-
	Liquidations					-	(4)	(4)
	Current					1,464	4,055	5,519
	Principal Balance:
	Original					311,120,564.87	672,509,931.72	983,630,496.59
	Prior					272,235,886.72	591,566,262.02	863,802,148.74
	Prefunding					-	-	-
	Scheduled Principal					(205,254.78)	(425,818.47)	(631,073.25)
	Partial and Full Voluntary Prepayments					(11,397,133.50)	(22,079,831.43)	(33,476,964.93)
	Repurchases					-	-	-
	Liquidations					-	(313,486.10)	(313,486.10)
	Current					260,633,498.44	568,747,126.02	829,380,624.46
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 28				© COPYRIGHT 2003 Deutsche Bank
	Morgan Stanley Dean Witter Capital I Inc. 2003-NC1
	Mortgage Pass-Through Certificates
	Collateral Report for September 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					8.027990%	8.088956%	8.069800%
	Weighted Average Coupon Current					8.029729%	8.090801%	8.071553%
	Weighted Average Months to Maturity Original					343	353	350
	Weighted Average Months to Maturity Prior					336	347	344
	Weighted Average Months to Maturity Current					336	346	343
	Weighted Avg Remaining Amortization Term Original					342	353	350
	Weighted Avg Remaining Amortization Term Prior					336	347	343
	Weighted Avg Remaining Amortization Term Current					335	346	342
	Weighted Average Seasoning Original					4.21	4.18	4.19
	Weighted Average Seasoning Prior					10.20	10.18	10.19
	Weighted Average Seasoning Current					11.20	11.18	11.19
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 28				© COPYRIGHT 2003 Deutsche Bank
	Morgan Stanley Dean Witter Capital I Inc. 2003-NC1
	Mortgage Pass-Through Certificates
	Collateral Report for September 25, 2003 Distribution
	Collateral Report
ARM CHARACTERISTICS						GROUP 2	GROUP 1	TOTAL
	Weighted Average Margin Original					3.515%	5.591%
	Weighted Average Margin Prior					3.434%	5.576%
	Weighted Average Margin Current					3.426%	5.583%
	Weighted Average Max Rate Original					8.680%	13.016%
	Weighted Average Max Rate Prior					8.388%	12.974%
	Weighted Average Max Rate Current					8.376%	12.988%
	Weighted Average Min Rate Original					4.281%	7.017%
	Weighted Average Min Rate Prior					4.164%	6.991%
	Weighted Average Min Rate Current					4.154%	7.000%
	Weighted Average Cap Up Original					0.976%	1.289%
	Weighted Average Cap Up Prior					0.934%	1.285%
	Weighted Average Cap Up Current					0.934%	1.286%
	Weighted Average Cap Down Original					0.976%	1.289%
	Weighted Average Cap Down Prior					0.934%	1.285%
	Weighted Average Cap Down Current					0.934%	1.286%
Note: Original information refers to deal issue.
SERVICING FEES / ADVANCES						GROUP 2	GROUP 1	TOTAL
	Current Servicing Fees					11,276.22	23,831.41	35,107.63
	Delinquent Servicing Fees					102,155.40	222,654.53	324,809.93
	TOTAL SERVICING FEES					113,431.62	246,485.94	359,917.56
	Prepayment Interest Shortfall					29,073.95	70,995.20	100,069.15
	Compensating Interest					(29,073.95)	(70,995.20)	(100,069.15)
	Delinquent Servicing Fees					(102,155.40)	(222,654.53)	(324,809.93)
	COLLECTED SERVICING FEES					11,276.22	23,831.41	35,107.63
	Aggregate Advances with respect to this Distribution					1,736,318.91	3,786,461.12	5,522,780.03
	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							4,070,525.85
	Ending Pool Stated Principal Balance					260,633,498.44	568,747,126.02	829,380,624.46
				Page 10 of 28				© COPYRIGHT 2003 Deutsche Bank
	Morgan Stanley Dean Witter Capital I Inc. 2003-NC1
	Mortgage Pass-Through Certificates
	Delinquency Report for September 25, 2003 Distribution
	Delinquency Report - Total
				<1 PAYMENT	1 PAYMENT	2 PAYMENTS	3+ PAYMENTS	TOTAL
DELINQUENT		Balance			23,925,536.50	5,943,538.33	1,926,608.77	31,795,683.60
		% Balance			2.88%	0.72%	0.23%	3.83%
		# Loans			172	43	14	229
		% # Loans			3.12%	0.78%	0.25%	4.15%
FORECLOSURE		Balance		-	-	5,431,243.22	14,207,409.42	19,638,652.64
		% Balance		0.00%	0.00%	0.65%	1.71%	2.37%
		# Loans		-	-	46	102	148
		% # Loans		0.00%	0.00%	0.83%	1.85%	2.68%
BANKRUPTCY		Balance		4,307,959.16	296,496.81	305,427.45	4,196,686.24	9,106,569.66
		% Balance		0.52%	0.04%	0.04%	0.51%	1.10%
		# Loans		26	4	3	32	65
		% # Loans		0.47%	0.07%	0.05%	0.58%	1.18%
REO		Balance		-	-	-	1,546,216.37	1,546,216.37
		% Balance		0.00%	0.00%	0.00%	0.19%	0.19%
		# Loans		-	-	-	17	17
		% # Loans		0.00%	0.00%	0.00%	0.31%	0.31%
TOTAL		Balance		4,307,959.16	24,222,033.31	11,680,209.00	21,876,920.80	62,087,122.27
		% Balance		0.52%	2.92%	1.41%	2.64%	7.49%
		# Loans		26	176	92	165	459
		% # Loans		0.47%	3.19%	1.67%	2.99%	8.32%
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 28				© COPYRIGHT 2003 Deutsche Bank
	Morgan Stanley Dean Witter Capital I Inc. 2003-NC1
	Mortgage Pass-Through Certificates
	Delinquency Report for September 25, 2003 Distribution
	Delinquency Report - Group 1 Group
				<1 PAYMENT	1 PAYMENT	2 PAYMENTS	3+ PAYMENTS	TOTAL
DELINQUENT		Balance			15,762,256.54	4,368,725.52	1,444,296.13	21,575,278.19
		% Balance			2.77%	0.77%	0.25%	3.79%
		# Loans			124	31	11	166
		% # Loans			3.06%	0.76%	0.27%	4.09%
FORECLOSURE		Balance		-	-	4,530,851.68	9,293,797.66	13,824,649.34
		% Balance		0.00%	0.00%	0.80%	1.63%	2.43%
		# Loans		-	-	35	76	111
		% # Loans		0.00%	0.00%	0.86%	1.87%	2.74%
BANKRUPTCY		Balance		2,574,809.85	206,666.80	305,427.45	2,393,654.45	5,480,558.55
		% Balance		0.45%	0.04%	0.05%	0.42%	0.96%
		# Loans		18	3	3	19	43
		% # Loans		0.44%	0.07%	0.07%	0.47%	1.06%
REO		Balance		-	-	-	1,301,726.77	1,301,726.77
		% Balance		0.00%	0.00%	0.00%	0.23%	0.23%
		# Loans		-	-	-	14	14
		% # Loans		0.00%	0.00%	0.00%	0.35%	0.35%
TOTAL		Balance		2,574,809.85	15,968,923.34	9,205,004.65	14,433,475.01	42,182,212.85
		% Balance		0.45%	2.81%	1.62%	2.54%	7.42%
		# Loans		18	127	69	120	334
		% # Loans		0.44%	3.13%	1.70%	2.96%	8.24%
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 28				© COPYRIGHT 2003 Deutsche Bank
	Morgan Stanley Dean Witter Capital I Inc. 2003-NC1
	Mortgage Pass-Through Certificates
	Delinquency Report for September 25, 2003 Distribution
	Delinquency Report - Group 2 Group
				<1 PAYMENT	1 PAYMENT	2 PAYMENTS	3+ PAYMENTS	TOTAL
DELINQUENT		Balance			8,163,279.96	1,574,812.81	482,312.64	10,220,405.41
		% Balance			3.13%	0.60%	0.19%	3.92%
		# Loans			48	12	3	63
		% # Loans			3.28%	0.82%	0.20%	4.30%
FORECLOSURE		Balance		-	-	900,391.54	4,913,611.76	5,814,003.30
		% Balance		0.00%	0.00%	0.35%	1.89%	2.23%
		# Loans		-	-	11	26	37
		% # Loans		0.00%	0.00%	0.75%	1.78%	2.53%
BANKRUPTCY		Balance		1,733,149.31	89,830.01	-	1,803,031.79	3,626,011.11
		% Balance		0.66%	0.03%	0.00%	0.69%	1.39%
		# Loans		8	1	-	13	22
		% # Loans		0.55%	0.07%	0.00%	0.89%	1.50%
REO		Balance		-	-	-	244,489.60	244,489.60
		% Balance		0.00%	0.00%	0.00%	0.09%	0.09%
		# Loans		-	-	-	3	3
		% # Loans		0.00%	0.00%	0.00%	0.20%	0.20%
TOTAL		Balance		1,733,149.31	8,253,109.97	2,475,204.35	7,443,445.79	19,904,909.42
		% Balance		0.66%	3.17%	0.95%	2.86%	7.64%
		# Loans		8	49	23	45	125
		% # Loans		0.55%	3.35%	1.57%	3.07%	8.54%
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 13 of 28				© COPYRIGHT 2003 Deutsche Bank
	Morgan Stanley Dean Witter Capital I Inc. 2003-NC1
	Mortgage Pass-Through Certificates
	REO Report for September 25, 2003 Distribution
	REO Report - Mortgage Loans that Become REO During Current Distribution
SUMMARY				LOAN GROUP
Total Loan Count = 6				Loan Group 1 = Group 1 Group; REO Book Value = Not Available
Total Original Principal Balance = 658,600.00				Loan Group 2 = Group 2 Group; REO Book Value = Not Available
Total Current Balance = 653,757.63
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
653209 1		97,600.00	96,887.59	Jan-01-03	8.250%	NM - 80.00%	360
654081 1		128,000.00	127,107.41	Mar-01-03	8.900%	MI - 80.00%	360
662944 1		282,200.00	279,837.88	Dec-01-02	7.990%	WA - 85.00%	360
689689 1		63,000.00	62,712.20	Mar-01-03	10.500%	MI - 69.23%	360
704571 1		52,800.00	52,468.67	Mar-01-03	8.990%	MO - 80.00%	360
701668 2		35,000.00	34,743.88	Apr-01-03	8.500%	MI - 70.00%	360
				Page 14 of 28				© COPYRIGHT 2003 Deutsche Bank
	Morgan Stanley Dean Witter Capital I Inc. 2003-NC1
	Mortgage Pass-Through Certificates
	Foreclosure Report for September 25, 2003 Distribution
	Foreclosure Report - Mortgage Loans that Become Foreclosure During Current Distribution
SUMMARY				LOAN GROUP
Total Loan Count = 55				Loan Group 1 = Group 1 Group
Total Original Principal Balance = 6,744,430.00				Loan Group 2 = Group 2 Group
Total Current Balance = 6,690,549.22
Loan Number		Original	Stated		Current	State &
&		Principal	Principal	Paid to	Note	LTV at	Original	Origination
Loan Group		Balance	Balance	Date	Rate	Origination	Term	Date
667754 1		120,000.00	118,741.30	May-01-03	8.490%	CA - 75.00%	360
672486 1		114,750.00	113,964.41	May-01-03	8.990%	KS - 90.00%	360
673201 1		68,800.00	68,028.89	May-01-03	6.490%	MI - 80.00%	360
675244 1		90,400.00	89,750.19	May-01-03	8.750%	FL - 80.00%	360
683293 1		43,350.00	43,079.49	May-01-03	9.000%	MI - 85.00%	360
685695 1		208,250.00	206,824.62	May-01-03	8.990%	MA - 85.00%	360
685905 1		170,100.00	168,537.66	May-01-03	8.250%	CA - 90.00%	360
687685 1		300,000.00	298,030.52	May-01-03	8.750%	TX - 75.00%	360
688122 1		57,000.00	56,543.88	May-01-03	8.750%	FL - 78.08%	360
688211 1		92,650.00	92,015.47	Apr-01-03	8.990%	IN - 85.00%	360
688541 1		107,100.00	106,394.97	May-01-03	8.740%	MA - 85.00%	360
688710 1		35,000.00	34,705.11	May-01-03	7.500%	CA - 72.92%	360
690911 1		50,250.00	49,949.01	Apr-01-03	9.200%	MI - 75.00%	360
691220 1		126,650.00	126,068.66	Apr-01-03	10.690%	MO - 85.00%	360
691639 1		256,000.00	253,947.00	May-01-03	7.750%	VA - 80.00%	360
692027 1		208,000.00	206,244.38	May-01-03	7.490%	CA - 78.49%	360
693129 1		76,800.00	76,367.58	May-01-03	9.500%	AZ - 80.00%	360
693198 1		162,000.00	160,714.68	May-01-03	7.990%	CA - 90.00%	360
694263 1		299,700.00	296,859.81	May-01-03	7.500%	FL - 90.00%	360
694921 1		188,800.00	187,837.97	May-01-03	9.990%	CA - 80.00%	360
695085 1		56,250.00	55,763.11	May-01-03	8.500%	MI - 75.00%	360
695481 1		73,100.00	72,642.92	May-01-03	8.990%	OH - 85.00%	360
695608 1		200,000.00	198,315.27	May-01-03	7.500%	CA - 80.00%	360
696179 1		51,850.00	51,491.88	May-01-03	8.500%	MI - 85.00%	360
698064 1		248,000.00	246,371.94	Dec-01-02	8.750%	NJ - 80.00%	360
698233 1		171,500.00	170,298.30	May-01-03	9.750%	CA - 65.46%	360
698727 1		72,250.00	71,751.29	May-01-03	8.500%	AL - 85.00%	360
698941 1		120,100.00	119,270.18	May-01-03	8.500%	MI - 75.06%	360
699657 1		127,800.00	126,774.42	May-01-03	9.750%	AZ - 90.00%	360
700103 1		159,800.00	158,694.28	Apr-01-03	8.490%	IL - 85.00%	360
700652 1		53,550.00	53,215.11	Nov-01-02	8.990%	MI - 85.00%	360
700739 1		283,000.00	280,367.44	May-01-03	6.990%	CA - 88.44%	360
702875 1		78,965.00	78,406.63	May-01-03	8.500%	SC - 85.00%	360
703664 1		51,750.00	51,481.71	May-01-03	9.950%	OH - 75.00%	360
705193 1		55,250.00	54,867.66	May-01-03	8.490%	TN - 85.00%	360
705207 1		83,700.00	82,994.88	May-01-03	7.500%	OH - 90.00%	360
705691 1		145,350.00	144,346.32	May-01-03	8.500%	OR - 85.00%	360
706239 1		119,000.00	118,026.63	May-01-03	7.650%	NJ - 85.00%	360
706253 1		135,150.00	134,427.50	May-01-03	9.750%	TX - 85.00%	360
706481 1		79,900.00	79,228.96	May-01-03	7.750%	OH - 85.00%	360
707287 1		97,750.00	97,138.26	Jan-01-03	8.990%	IN - 85.00%	360
709496 1		154,615.00	153,824.12	May-01-03	9.990%	MN - 85.00%	360
653957 2		77,000.00	76,693.19	May-01-03	12.750%	MI - 63.11%	360
665904 2		45,050.00	44,756.43	May-01-03	10.000%	MI - 85.00%	360
				Page 15 of 28				© COPYRIGHT 2003 Deutsche Bank
	Morgan Stanley Dean Witter Capital I Inc. 2003-NC1
	Mortgage Pass-Through Certificates
	Foreclosure Report for September 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
666570 2		37,800.00	37,619.42	May-01-03	10.290%	OK - 90.00%	360
673059 2		48,000.00	46,397.27	May-01-03	8.990%	LA - 80.00%	180
685719 2		70,200.00	69,843.02	May-01-03	9.990%	AR - 86.67%	360
687048 2		46,000.00	45,863.53	May-01-03	12.500%	OK - 69.38%	360
687571 2		85,000.00	84,441.96	May-01-03	8.750%	NC - 85.00%	360
688286 2		90,950.00	87,957.89	Feb-01-03	7.990%	PA - 85.00%	180
697044 2		76,500.00	75,110.10	May-01-03	8.500%	OH - 85.00%	240
697525 2		215,200.00	213,258.09	May-01-03	8.750%	TX - 80.00%	360
701361 2		117,900.00	117,043.92	May-01-03	8.250%	AL - 90.00%	360
701512 2		89,600.00	89,364.61	May-01-03	13.050%	TX - 80.00%	360
702634 2		351,000.00	347,895.38	Apr-01-03	7.250%	CA - 90.00%	360
				Page 16 of 28				© COPYRIGHT 2003 Deutsche Bank
	Morgan Stanley Dean Witter Capital I Inc. 2003-NC1
	Mortgage Pass-Through Certificates
	Prepayment Report for September 25, 2003 Distribution
	Prepayment Report - Voluntary Prepayments
VOLUNTARY PREPAYMENTS						GROUP 2	GROUP 1	TOTAL
	Current
	Number of Paid in Full Loans					49	137	186
	Number of Repurchased Loans					-	-	-
	Total Number of Loans Prepaid in Full					49	137	186
	Paid in Full Balance					11,383,084.23	22,043,440.84	33,426,525.07
	Repurchased Loans Balance					-	-	-
	Curtailments Amount					14,049.27	36,390.59	50,439.86
	Total Prepayment Amount					11,397,133.50	22,079,831.43	33,476,964.93
	Cumulative
	Number of Paid in Full Loans					189	602	791
	Number of Repurchased Loans					-	-	-
	Total Number of Loans Prepaid in Full					189	602	791
	Paid in Full Balance					48,117,396.77	98,895,843.09	147,013,239.86
	Repurchased Loans Balance					-	-	-
	Curtailments Amount					628,855.32	507,479.80	1,136,335.12
	Total Prepayment Amount					48,746,252.09	99,403,322.89	148,149,574.98
SPACE INTENTIONALLY LEFT BLANK
Total Prepayments by Groups (in thousands of dollars)					Total Prepayments (in thousands of dollars)
				Page 17 of 28				© COPYRIGHT 2003 Deutsche Bank
	Morgan Stanley Dean Witter Capital I Inc. 2003-NC1
	Mortgage Pass-Through Certificates
	Prepayment Report for September 25, 2003 Distribution
	Prepayment Report - Voluntary Prepayments
VOLUNTARY PREPAYMENT RATES						GROUP 2	GROUP 1	TOTAL
	SMM					4.19%	3.74%	3.88%
	3 Months Avg SMM					3.33%	3.28%	3.29%
	12 Months Avg SMM
	Avg SMM Since Cut-off					2.12%	1.99%	2.03%
	CPR					40.17%	36.67%	37.79%
	3 Months Avg CPR					33.38%	32.96%	33.09%
	12 Months Avg CPR
	Avg CPR Since Cut-off					22.64%	21.42%	21.81%
	PSA					1793.43%	1639.93%	1689.24%
	3 Months Avg PSA Approximation					1636.21%	1618.72%	1624.24%
	12 Months Avg PSA Approximation
	Avg PSA Since Cut-off Approximation					1468.90%	1394.03%	1417.82%
	Group 1
	Group 2
CPR by Groups					Total CPR
PSA by Groups					Total PSA
				Page 18 of 28				© COPYRIGHT 2003 Deutsche Bank
	Morgan Stanley Dean Witter Capital I Inc. 2003-NC1
	Mortgage Pass-Through Certificates
	Prepayment Report for September 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 28				© COPYRIGHT 2003 Deutsche Bank
	Morgan Stanley Dean Witter Capital I Inc. 2003-NC1
	Mortgage Pass-Through Certificates
	Prepayment Detail Report for September 25, 2003 Distribution
	Prepayment Detail Report - Loans Prepaid in Full During Current Distribution
SUMMARY						LOAN GROUP
Total Loan Count = 186						Loan Group 1 = Group 1 Group
Total Original Principal Balance = 33,680,096.00						Loan Group 2 = Group 2 Group
Total Prepayment Amount = 33,426,525.07
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
628956 1			296,750.00	293,711.97	Aug-21-03	6.490%	CA - 77.68%	Paid Off - 360
647932 1			144,000.00	143,184.57	Aug-26-03	8.990%	VA - 90.00%	Paid Off - 360
648214 1			55,920.00	55,350.56	Aug-13-03	8.750%	NY - 80.00%	Paid Off - 360
658779 1			105,200.00	104,338.11	Aug-28-03	7.990%	CO - 80.00%	Paid Off - 360
658810 1			288,000.00	285,432.81	Aug-19-03	7.750%	CA - 90.00%	Paid Off - 360
659434 1			93,750.00	93,058.80	Aug-27-03	8.250%	MO - 75.00%	Paid Off - 360
666291 1			92,000.00	91,153.62	Aug-29-03	7.250%	CA - 80.00%	Paid Off - 360
667771 1			60,000.00	59,694.91	Aug-07-03	9.990%	MO - 80.00%	Paid Off - 360
671357 1			195,750.00	194,523.98	Aug-28-03	10.990%	VA - 75.00%	Paid Off - 360
671515 1			195,000.00	193,895.86	Aug-15-03	8.990%	FL - 75.00%	Paid Off - 360
672305 1			230,000.00	228,156.17	Aug-06-03	7.250%	CA - 52.27%	Paid Off - 360
672678 1			119,000.00	118,089.90	Aug-27-03	7.990%	CA - 85.00%	Paid Off - 360
673749 1			90,250.00	89,739.99	Aug-20-03	9.000%	CA - 95.00%	Paid Off - 360
674896 1			136,000.00	135,373.91	Aug-01-03	9.990%	NC - 85.00%	Paid Off - 360
677018 1			188,000.00	187,132.91	Aug-19-03	9.990%	NV - 80.34%	Paid Off - 360
677625 1			288,750.00	286,074.51	Aug-04-03	6.500%	IL - 75.00%	Paid Off - 360
677642 1			297,000.00	294,949.18	Aug-27-03	8.500%	CA - 90.00%	Paid Off - 360
677862 1			69,700.00	69,304.25	Aug-13-03	9.240%	TN - 85.00%	Paid Off - 360
677889 1			232,000.00	229,739.91	Aug-04-03	6.750%	FL - 80.00%	Paid Off - 360
678148 1			63,600.00	63,202.31	Aug-28-03	8.990%	WA - 80.00%	Paid Off - 360
678397 1			143,500.00	142,349.03	Aug-29-03	7.990%	MD - 80.85%	Paid Off - 360
678850 1			142,000.00	141,047.01	Aug-07-03	8.150%	NJ - 57.72%	Paid Off - 360
679611 1			108,000.00	106,981.74	Aug-05-03	7.750%	OH - 90.00%	Paid Off - 360
679934 1			256,000.00	254,136.03	Aug-21-03	7.740%	NJ - 80.00%	Paid Off - 360
679942 1			120,000.00	118,888.28	Aug-08-03	6.500%	CA - 63.16%	Paid Off - 360
680425 1			129,000.00	128,406.14	Aug-25-03	9.990%	NJ - 83.77%	Paid Off - 360
680752 1			225,000.00	223,365.00	Aug-18-03	7.750%	CA - 75.00%	Paid Off - 360
681568 1			172,800.00	171,478.30	Aug-05-03	7.490%	OH - 80.00%	Paid Off - 360
682017 1			300,000.00	299,099.98	Aug-19-03	11.990%	NY - 64.52%	Paid Off - 360
682126 1			270,000.00	267,725.64	Aug-06-03	7.500%	CA - 75.00%	Paid Off - 360
682828 1			225,000.00	223,238.60	Aug-05-03	7.990%	CA - 72.58%	Paid Off - 360
684099 1			89,600.00	88,766.52	Aug-04-03	6.990%	CO - 80.00%	Paid Off - 360
684673 1			152,800.00	151,381.27	Aug-21-03	7.000%	MI - 80.00%	Paid Off - 360
684974 1			298,000.00	294,806.40	Aug-29-03	6.250%	CA - 83.94%	Paid Off - 360
684990 1			187,500.00	186,686.82	Aug-06-03	10.750%	MA - 75.00%	Paid Off - 360
686206 1			60,800.00	60,520.66	Aug-07-03	10.000%	MI - 80.00%	Paid Off - 360
686788 1			204,800.00	203,640.37	Aug-04-03	8.990%	CA - 80.00%	Paid Off - 360
686857 1			192,000.00	190,604.72	Aug-27-03	7.750%	MA - 80.00%	Paid Off - 360
686863 1			108,750.00	108,086.48	Aug-07-03	8.500%	FL - 75.00%	Paid Off - 360
687228 1			166,000.00	164,152.68	Aug-11-03	6.500%	CA - 71.86%	Paid Off - 360
687762 1			120,000.00	118,830.97	Aug-25-03	6.750%	FL - 74.07%	Paid Off - 360
688020 1			103,500.00	103,019.53	Aug-30-03	9.950%	GA - 90.00%	Paid Off - 360
688645 1			144,000.00	143,128.64	Aug-07-03	9.150%	IL - 80.00%	Paid Off - 360
688679 1			200,000.00	198,493.80	Aug-11-03	7.990%	NY - 48.78%	Paid Off - 360
					Page 20 of 28				© COPYRIGHT 2003 Deutsche Bank
	Morgan Stanley Dean Witter Capital I Inc. 2003-NC1
	Mortgage Pass-Through Certificates
	Prepayment Detail Report for September 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
688691 1			104,000.00	103,175.65	Aug-14-03	7.500%	OH - 75.36%	Paid Off - 360
688763 1			171,200.00	169,838.20	Aug-06-03	7.290%	MN - 80.00%	Paid Off - 360
688893 1			45,000.00	44,813.66	Aug-28-03	10.500%	IN - 75.00%	Paid Off - 360
689248 1			147,500.00	146,406.72	Aug-19-03	7.650%	FL - 68.60%	Paid Off - 360
689352 1			238,500.00	236,652.39	Aug-07-03	7.990%	CA - 90.00%	Paid Off - 360
689469 1			238,000.00	236,652.47	Aug-29-03	8.990%	CA - 85.00%	Paid Off - 360
689616 1			250,700.00	248,586.06	Aug-29-03	6.990%	MA - 84.98%	Paid Off - 360
690997 1			110,000.00	107,894.50	Aug-30-03	7.750%	IL - 27.85%	Paid Off - 360
691437 1			128,250.00	127,470.16	Aug-26-03	8.640%	MD - 95.00%	Paid Off - 360
691554 1			272,000.00	270,023.42	Aug-08-03	7.750%	MA - 80.00%	Paid Off - 360
691574 1			93,500.00	92,998.03	Aug-22-03	9.250%	MI - 85.00%	Paid Off - 360
691682 1			272,000.00	269,119.14	Aug-08-03	6.990%	CA - 85.00%	Paid Off - 360
691863 1			35,870.00	35,744.94	Aug-13-03	11.300%	TX - 85.00%	Paid Off - 360
692126 1			170,000.00	165,030.21	Aug-15-03	6.750%	CA - 71.13%	Paid Off - 240
692228 1			42,000.00	41,762.20	Aug-07-03	8.990%	NV - 60.00%	Paid Off - 360
692538 1			190,000.00	188,011.18	Aug-30-03	7.250%	FL - 71.70%	Paid Off - 360
692661 1			283,500.00	281,106.42	Aug-13-03	7.990%	CA - 90.00%	Paid Off - 360
693094 1			184,450.00	183,105.07	Aug-13-03	8.000%	IL - 85.00%	Paid Off - 360
693350 1			206,000.00	204,638.12	Aug-30-03	8.240%	CA - 79.84%	Paid Off - 360
693931 1			136,000.00	135,149.36	Aug-27-03	8.500%	IL - 80.00%	Paid Off - 360
694150 1			110,000.00	108,963.52	Aug-07-03	6.990%	RI - 75.86%	Paid Off - 360
694529 1			88,500.00	87,974.03	Aug-30-03	8.750%	GA - 75.00%	Paid Off - 360
694595 1			129,500.00	128,356.33	Aug-30-03	6.750%	ME - 70.00%	Paid Off - 360
694748 1			133,500.00	131,601.57	Aug-25-03	7.750%	MA - 63.57%	Paid Off - 360
695008 1			72,850.00	72,235.68	Aug-25-03	6.990%	LA - 82.78%	Paid Off - 360
695142 1			96,000.00	95,190.51	Aug-26-03	6.990%	CT - 80.00%	Paid Off - 360
695399 1			204,000.00	202,252.58	Aug-18-03	6.990%	NH - 85.00%	Paid Off - 360
695457 1			130,000.00	128,957.85	Aug-20-03	7.250%	MN - 78.31%	Paid Off - 360
695462 1			72,500.00	71,998.67	Aug-05-03	8.000%	FL - 82.39%	Paid Off - 360
695502 1			73,950.00	72,880.60	Aug-07-03	6.740%	IL - 85.00%	Paid Off - 360
695642 1			98,100.00	97,441.64	Aug-27-03	8.150%	MO - 90.00%	Paid Off - 360
695844 1			210,000.00	208,396.83	Aug-05-03	7.500%	NY - 70.00%	Paid Off - 360
695912 1			60,000.00	59,764.77	Aug-13-03	10.750%	WV - 47.66%	Paid Off - 360
696335 1			202,400.00	200,929.25	Aug-06-03	7.750%	CA - 80.00%	Paid Off - 360
696413 1			150,000.00	148,852.63	Aug-06-03	7.490%	NY - 37.04%	Paid Off - 360
696420 1			134,250.00	133,723.70	Aug-25-03	10.750%	MN - 75.00%	Paid Off - 360
696444 1			202,500.00	200,872.75	Aug-08-03	7.250%	CA - 75.00%	Paid Off - 360
696670 1			140,000.00	139,315.35	Aug-07-03	9.700%	CA - 70.00%	Paid Off - 360
696770 1			78,000.00	77,622.41	Aug-19-03	9.750%	IN - 77.23%	Paid Off - 360
696852 1			276,250.00	274,335.99	Aug-26-03	7.990%	CA - 85.00%	Paid Off - 360
696983 1			256,000.00	254,755.68	Aug-04-03	9.750%	CA - 80.00%	Paid Off - 360
697427 1			225,250.00	223,350.74	Aug-25-03	7.990%	CA - 85.00%	Paid Off - 360
697462 1			192,000.00	190,381.02	Aug-06-03	6.990%	CA - 80.00%	Paid Off - 360
697595 1			175,000.00	174,348.18	Aug-06-03	10.990%	CA - 64.81%	Paid Off - 360
697769 1			76,100.00	75,743.02	Aug-19-03	9.900%	MI - 73.88%	Paid Off - 360
698108 1			184,000.00	182,849.02	Aug-19-03	8.500%	CA - 80.00%	Paid Off - 360
698234 1			109,500.00	108,569.96	Aug-06-03	6.990%	CA - 82.95%	Paid Off - 360
698393 1			104,500.00	103,907.58	Aug-26-03	8.990%	IL - 67.64%	Paid Off - 360
698421 1			286,000.00	284,299.41	Aug-18-03	8.750%	CA - 80.00%	Paid Off - 360
698528 1			162,000.00	158,763.18	Aug-14-03	7.290%	NV - 67.22%	Paid Off - 360
698580 1			311,000.00	308,506.84	Aug-11-03	7.250%	MA - 53.99%	Paid Off - 360
699138 1			175,000.00	173,723.93	Aug-26-03	7.750%	MA - 58.72%	Paid Off - 360
					Page 21 of 28				© COPYRIGHT 2003 Deutsche Bank
	Morgan Stanley Dean Witter Capital I Inc. 2003-NC1
	Mortgage Pass-Through Certificates
	Prepayment Detail Report for September 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
699155 1			177,600.00	176,243.21	Aug-14-03	7.500%	CA - 80.00%	Paid Off - 360
699216 1			120,000.00	119,321.91	Aug-08-03	9.000%	IL - 58.54%	Paid Off - 360
699322 1			106,000.00	105,407.12	Aug-18-03	9.050%	CA - 73.10%	Paid Off - 360
699373 1			93,750.00	93,318.36	Aug-26-03	9.990%	KS - 75.00%	Paid Off - 360
699509 1			216,000.00	213,639.17	Aug-04-03	6.500%	CA - 90.00%	Paid Off - 360
699541 1			51,300.00	51,087.44	Aug-30-03	10.490%	AZ - 90.00%	Paid Off - 360
699548 1			265,000.00	263,702.38	Aug-11-03	9.990%	FL - 77.94%	Paid Off - 360
699778 1			285,250.00	282,206.78	Aug-08-03	5.750%	CA - 66.34%	Paid Off - 360
699831 1			122,400.00	121,632.77	Aug-28-03	8.490%	CA - 90.00%	Paid Off - 360
699874 1			113,500.00	112,382.69	Aug-06-03	6.990%	IL - 73.23%	Paid Off - 360
700986 1			297,000.00	295,130.53	Aug-06-03	8.550%	CA - 90.00%	Paid Off - 360
701110 1			150,000.00	145,137.29	Aug-15-03	6.990%	NM - 55.56%	Paid Off - 180
701225 1			112,500.00	111,926.28	Aug-30-03	9.500%	FL - 75.00%	Paid Off - 360
701314 1			198,000.00	196,488.47	Aug-22-03	7.500%	CA - 88.00%	Paid Off - 360
701427 1			135,000.00	134,153.86	Aug-08-03	8.490%	MO - 64.90%	Paid Off - 360
701447 1			125,300.00	124,780.80	Aug-28-03	10.490%	AZ - 70.00%	Paid Off - 360
702404 1			110,000.00	109,203.70	Aug-30-03	8.000%	MN - 72.37%	Paid Off - 360
702596 1			150,000.00	148,954.23	Aug-05-03	8.250%	CA - 75.00%	Paid Off - 360
704312 1			119,000.00	117,996.48	Aug-04-03	6.990%	CA - 85.00%	Paid Off - 360
704552 1			135,500.00	133,985.85	Aug-06-03	5.500%	CA - 79.71%	Paid Off - 360
704822 1			63,750.00	63,381.00	Aug-20-03	9.240%	MN - 75.00%	Paid Off - 360
705042 1			216,000.00	214,430.32	Aug-04-03	7.750%	CA - 74.74%	Paid Off - 360
705361 1			143,650.00	142,834.60	Aug-04-03	8.990%	CA - 85.00%	Paid Off - 360
705531 1			190,000.00	189,030.59	Aug-27-03	9.500%	NJ - 86.36%	Paid Off - 360
705650 1			264,000.00	262,582.83	Aug-11-03	9.250%	VA - 80.00%	Paid Off - 360
705746 1			77,600.00	77,040.50	Aug-30-03	7.790%	IL - 80.00%	Paid Off - 360
705903 1			110,500.00	109,568.26	Aug-04-03	6.990%	CA - 85.00%	Paid Off - 360
705924 1			191,250.00	190,017.01	Aug-30-03	8.350%	CA - 85.00%	Paid Off - 360
705974 1			289,000.00	286,997.61	Aug-28-03	7.990%	CA - 85.00%	Paid Off - 360
706633 1			212,500.00	210,796.42	Aug-28-03	7.250%	CA - 83.33%	Paid Off - 360
706741 1			97,500.00	97,028.09	Aug-30-03	9.750%	CA - 72.22%	Paid Off - 360
706786 1			202,500.00	200,522.85	Aug-12-03	6.990%	CA - 48.21%	Paid Off - 360
707580 1			276,000.00	273,954.39	Aug-04-03	7.650%	CA - 84.92%	Paid Off - 360
708146 1			94,000.00	92,642.70	Aug-25-03	7.250%	NE - 48.21%	Paid Off - 360
708602 1			94,800.00	94,143.17	Aug-20-03	7.990%	IA - 80.00%	Paid Off - 360
708999 1			169,000.00	167,796.00	Aug-28-03	7.850%	CA - 90.13%	Paid Off - 360
709074 1			68,000.00	67,528.82	Aug-27-03	7.990%	FL - 80.00%	Paid Off - 360
709419 1			107,500.00	106,679.34	Aug-18-03	7.500%	CA - 68.91%	Paid Off - 360
711094 1			267,750.00	265,820.71	Aug-30-03	7.990%	CA - 85.00%	Paid Off - 360
711158 1			234,000.00	232,741.15	Aug-30-03	9.240%	CA - 90.00%	Paid Off - 360
712110 1			168,000.00	167,219.20	Aug-30-03	9.950%	CA - 80.00%	Paid Off - 360
649704 2			212,500.00	211,573.05	Aug-20-03	10.250%	NJ - 85.00%	Paid Off - 360
658842 2			102,200.00	101,602.71	Aug-22-03	10.990%	FL - 70.00%	Paid Off - 360
666555 2			527,000.00	527,000.00	Aug-08-03	5.338%	CA - 85.00%	Paid Off - 300
669100 2			332,000.00	328,933.48	Aug-30-03	7.490%	CA - 80.00%	Paid Off - 360
670453 2			322,200.00	322,200.00	Aug-11-03	5.340%	CA - 90.00%	Paid Off - 300
670929 2			215,135.00	213,792.72	Aug-20-03	9.000%	NJ - 84.85%	Paid Off - 360
674937 2			74,400.00	73,654.91	Aug-13-03	8.500%	NM - 80.00%	Paid Off - 360
676009 2			166,250.00	165,207.94	Aug-05-03	8.490%	MN - 95.00%	Paid Off - 360
678553 2			191,250.00	189,927.49	Aug-31-03	8.000%	NJ - 85.00%	Paid Off - 360
678874 2			63,200.00	62,165.69	Aug-26-03	8.900%	SC - 80.00%	Paid Off - 360
680203 2			150,000.00	147,453.70	Aug-05-03	8.250%	NJ - 47.17%	Paid Off - 240
					Page 22 of 28				© COPYRIGHT 2003 Deutsche Bank
	Morgan Stanley Dean Witter Capital I Inc. 2003-NC1
	Mortgage Pass-Through Certificates
	Prepayment Detail Report for September 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
681814 2			396,000.00	393,645.37	Aug-06-03	8.750%	CA - 90.00%	Paid Off - 360
682862 2			408,000.00	407,961.40	Aug-15-03	5.330%	CA - 89.67%	Paid Off - 300
683485 2			38,280.00	37,147.08	Aug-25-03	9.250%	SC - 64.88%	Paid Off - 180
683671 2			94,000.00	91,267.61	Aug-13-03	8.140%	CT - 64.83%	Paid Off - 360
684140 2			310,500.00	309,037.06	Aug-08-03	5.340%	IL - 90.00%	Paid Off - 300
684877 2			176,250.00	172,946.75	Aug-22-03	9.000%	NY - 75.00%	Paid Off - 360
690531 2			77,000.00	76,542.16	Aug-05-03	8.750%	MI - 56.83%	Paid Off - 360
690580 2			60,000.00	59,787.02	Aug-20-03	11.750%	NM - 58.25%	Paid Off - 360
691303 2			135,000.00	134,235.64	Aug-22-03	8.990%	CA - 84.91%	Paid Off - 360
691375 2			382,500.00	379,577.21	Aug-30-03	8.000%	CA - 85.00%	Paid Off - 360
691403 2			313,500.00	310,856.63	Aug-01-03	6.990%	CA - 95.00%	Paid Off - 360
691421 2			161,500.00	160,437.55	Aug-28-03	8.250%	NH - 85.00%	Paid Off - 360
693073 2			445,000.00	442,072.94	Aug-30-03	8.250%	CA - 87.77%	Paid Off - 360
694956 2			300,050.00	298,154.11	Aug-27-03	8.450%	IL - 85.00%	Paid Off - 360
695239 2			102,000.00	101,393.47	Aug-20-03	8.750%	NC - 65.38%	Paid Off - 360
695779 2			70,000.00	69,710.58	Aug-19-03	10.500%	AZ - 63.64%	Paid Off - 360
696984 2			75,000.00	74,500.34	Aug-22-03	8.500%	CA - 78.95%	Paid Off - 360
698710 2			85,000.00	80,828.25	Aug-12-03	8.500%	TN - 85.00%	Paid Off - 360
698764 2			238,500.00	236,850.82	Aug-11-03	8.000%	CA - 90.00%	Paid Off - 360
699638 2			505,000.00	505,000.00	Aug-11-03	5.300%	CA - 77.69%	Paid Off - 300
699983 2			220,500.00	219,032.00	Aug-15-03	8.190%	OH - 90.00%	Paid Off - 360
700271 2			322,991.00	321,165.97	Aug-13-03	9.000%	CA - 85.00%	Paid Off - 360
701057 2			175,500.00	174,509.87	Aug-25-03	9.250%	MI - 65.00%	Paid Off - 360
701064 2			340,000.00	337,873.30	Aug-11-03	8.500%	CA - 66.67%	Paid Off - 360
704296 2			320,000.00	317,787.25	Aug-26-03	8.000%	CA - 79.01%	Paid Off - 360
704319 2			373,500.00	371,040.25	Aug-11-03	8.250%	VA - 90.00%	Paid Off - 360
704579 2			318,750.00	316,463.93	Aug-18-03	8.490%	CO - 85.00%	Paid Off - 360
705190 2			189,000.00	188,256.06	Aug-15-03	10.740%	NJ - 70.00%	Paid Off - 360
706100 2			181,200.00	179,950.67	Aug-19-03	8.100%	CA - 77.11%	Paid Off - 360
706508 2			460,000.00	451,706.42	Aug-30-03	7.750%	VA - 80.00%	Paid Off - 240
706710 2			308,000.00	305,249.26	Aug-28-03	8.250%	CA - 80.00%	Paid Off - 360
706736 2			116,000.00	115,431.45	Aug-29-03	9.690%	OH - 80.00%	Paid Off - 360
706892 2			264,000.00	262,280.76	Aug-27-03	8.300%	CA - 80.00%	Paid Off - 360
707151 2			155,000.00	154,030.46	Aug-29-03	8.500%	RI - 72.09%	Paid Off - 360
707399 2			88,800.00	88,282.56	Aug-13-03	8.850%	MO - 80.00%	Paid Off - 360
708326 2			326,700.00	324,551.48	Aug-30-03	8.250%	LA - 90.00%	Paid Off - 360
708440 2			307,700.00	305,676.05	Aug-28-03	8.250%	CA - 85.00%	Paid Off - 360
711727 2			266,000.00	264,332.81	Aug-25-03	8.490%	CA - 83.13%	Paid Off - 360
					Page 23 of 28				© COPYRIGHT 2003 Deutsche Bank
	Morgan Stanley Dean Witter Capital I Inc. 2003-NC1
	Mortgage Pass-Through Certificates
	Realized Loss Report for September 25, 2003 Distribution
	Realized Loss Report - Collateral
COLLATERAL REALIZED LOSSES						GROUP 2	GROUP 1	TOTAL
	Current
	Number of Loans Liquidated					-	4	4
	Collateral Realized Loss/(Gain) Amount					-	27,165.72	27,165.72
	Net Liquidation Proceeds					-	286,320.38	286,320.38
	Cumulative
	Number of Loans Liquidated					-	7	7
	Collateral Realized Loss/(Gain) Amount					-	72,097.10	72,097.10
	Net Liquidation Proceeds					-	631,221.94	631,221.94
	Note: Collateral Realized Loss Amount may include adjustments to loans liquidated in prior periods.
	Cumulative Loss Percentage							0.01%
	Group 1						3 Months Moving Average
	Group 2
Collateral Loss Severity Approximation by Groups					Collateral Loss Severity Approximation
				Page 24 of 28				© COPYRIGHT 2003 Deutsche Bank
	Morgan Stanley Dean Witter Capital I Inc. 2003-NC1
	Mortgage Pass-Through Certificates
	Realized Loss Report for September 25, 2003 Distribution
	Realized Loss Report - Collateral
DEFAULT SPEEDS						GROUP 2	GROUP 1	TOTAL
	MDR					0.00%	0.05%	0.04%
	3 Months Avg MDR					0.00%	0.04%	0.03%
	12 Months Avg MDR
	Avg MDR Since Cut-off					0.00%	0.01%	0.01%
	CDR					0.00%	0.63%	0.43%
	3 Months Avg CDR					0.00%	0.46%	0.32%
	12 Months Avg CDR
	Avg CDR Since Cut-off					0.00%	0.17%	0.12%
	SDA					0.00%	2.84%	1.94%
	3 Months Avg SDA Approximation					0.00%	2.28%	1.56%
	12 Months Avg SDA Approximation
	Avg SDA Since Cut-off Approximation					0.00%	1.13%	0.78%
	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 25 of 28				© COPYRIGHT 2003 Deutsche Bank
	Morgan Stanley Dean Witter Capital I Inc. 2003-NC1
	Mortgage Pass-Through Certificates
	Realized Loss Report for September 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 26 of 28				© COPYRIGHT 2003 Deutsche Bank
	Morgan Stanley Dean Witter Capital I Inc. 2003-NC1
	Mortgage Pass-Through Certificates
	Realized Loss Detail Report for September 25, 2003 Distribution
	Realized Loss Detail Report - Loans Liquidated During Current Distribution
SUMMARY						LOAN GROUP
Total Loan Count = 4						Loan Group 1 = Group 1 Group
Total Original Principal Balance = 316,120.00						Loan Group 2 = Group 2 Group
Total Prior Principal Balance = 313,486.10
Total Realized Loss Amount = 27,165.72
Total Net Liquidation Proceeds = 286,320.38
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
678091 1			109,200.00	107,685.05	1,453.56	8.990%	FL - 70.00%	360
684818 1			66,320.00	65,896.52	158.92	8.990%	MI - 80.00%	360
696050 1			73,100.00	72,706.90	21,947.00	9.250%	MO - 85.00%	360
706980 1			67,500.00	67,197.63	2,292.49	12.250%	TX - 75.00%	360
					Page 27 of 28				© 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 September 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))							4.21%
	(x) Rolling 3-month avg. of 60+ Day Delinq. Loans							34,923,204.83
	(y) Stated Principal Balance							829,380,624.46
	(B) 40% of Sr. Enhancement Percentage							8.66%
	2. Does (A) exceed (B)?							No
	(A) Realized Loss % (quotient of (x) over (y))							0.01%
	(x) Agg. Realized Losses to date							72,097.10
	(y) Cut-off Date Pool Principal Balance							983,630,496.59
	(B) Applicable Percentage							100.00%
	Senior Enhancement Percentage (Prior)							21.64%
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 28 of 28				© COPYRIGHT 2003 Deutsche Bank