EX-99 3 exhibit.htm EXHIBIT 99.1 Exhibit


Aames 2002-2 Final Deal Population

MORGAN STANLEY

Actual Balances as of 12/12/2002

2,442 records

Group I

Balance: 275,047,145



Summary Statistics

Number of Mortgage Loans:  2,442

Aggregate Principal Balance ($):  275,047,145

Weighted Average Current Mortgage Rate (%):  7.905

Non-Zero Weighted Average Margin (%):  6.879

Non-Zero Weighted Average Maximum Rate (%):  15.264

Weighted Average Stated Original Term (months):  337

Weighted Average Stated Remaining Term (months):  335

Weighted Average Original LTV (%):  76.65

% First Liens: 100.00

% Owner Occupied: 92.86

% Purchase: 7.45

% Full Doc: 80.51

Non-Zero Weighted Average Credit Score: 619




Product

Number

of

Mortgage

Loans


Principal Balance

Outstanding as of

the Cutoff Date

% of Aggregate

Principal Balance

Outstanding as of

the Cutoff Date

6 Month

84

10,330,293

3.76

6 Month

139

13,848,288

5.03

Fixed Rate

2,219

250,868,564

91.21

Total:

2,442

275,047,145

100.00



Current Mortgage Loan

Principal Balance ($)

Number

of

Mortgage

Loans


Principal Balance

Outstanding as of

the Cutoff Date

% of Aggregate

Principal Balance

Outstanding as of

the Cutoff Date

0.01 - 50,000.00

343

12,796,112

4.65

50,000.01- 100,000.00

951

69,915,384

25.42

100,000.01 - 150,000.00

543

66,682,289

24.24

150,000.01 - 200,000.00

309

54,048,826

19.65

200,000.01 - 250,000.00

194

43,421,554

15.79

250,000.01 - 300,000.00

95

25,650,949

9.33

300,000.01 - 350,000.00

4

1,277,531

0.46

350,000.01 - 400,000.00

1

368,000

0.13

400,000.01 - 450,000.00

2

886,500

0.32

Total:

2,442

275,047,145

100.00

Minimum: 1,543

   

Maximum: 450,000

   

Average: 112,632

   

This information is being delivered to a specific number of prospective sophisticated investors in order to assist them in determining whether they have an interest in the type of security described herein. It has been prepared solely for information purposes and is not an offer to buy or sell or a solicitation of an offer to buy or sell any security or instrument or to participate in any trading strategy.  This material is based on information that Morgan Stanley & Co. Incorporated ("Morgan Stanley") considers reliable.  Morgan Stanley makes no representation or warranty with respect to the accuracy or completeness of the information, or with respect to the terms of any future offer of securities conforming to the terms hereof. Any such offer of securities would be made pursuant to a definitive Prospectus or Private Placement Memorandum, as the case may be, prepared by the issuer which could contain material information not contained herein and to which the prospective purchasers are referred.  In the event of any such offering, this information shall be deemed superseded, amended and supplemented in its entirety by such Prospectus or Private Placement Memorandum.  Such Prospectus or Private Placement Memorandum will contain all material information in respect of any securities offered thereby and any decision to invest in such securities should be made solely in reliance upon such Prospectus or Private Placement Memorandum.  The information contained herein may be based on certain assumptions regarding market conditions and other matters and is therefore subject to change.  We make no representations regarding the reasonableness of such assumptions or the likelihood that any of such assumptions will coincide with actual market conditions or events, and this material should not be relied on for such purposes.  No representation is made that any returns indicated will be achieved.  Changes to the assumptions may have a material impact on any returns detailed.  Morgan Stanley disclaims any and all liability relating to this information, including without limitation any express or implied representations or warranties for, statements contained in, and omissions from the information contained herein.  Additional information is available upon request.  Morgan Stanley and others associated with it may have positions in, and may effect transaction in, securities and instruments of issuers mentioned herein and may also perform or seek to perform investment banking services for the issuers of such securities and instruments.  Past performance is not necessarily indicative of future results.  Price and availability are subject to change without notice.  Information contained in this material is current as of the date appearing on this material only.  Information in this material regarding any assets backing any securities discussed herein supercedes all prior information regarding such assets.  Morgan Stanley is acting as the lead underwriter and not acting as agent for the issuer or its affiliates in connection with the proposed transaction.  To our readers worldwide: In addition, please note that this publication has been issued by Morgan Stanley, approved by Morgan Stanley International Limited, a member of The Securities and Futures Authority, and by Morgan Stanley Japan Ltd. We recommend that such investors obtain the advice of their Morgan Stanley, Morgan Stanley International or Morgan Stanley Japan Ltd. representative about the investments concerned. NOT FOR DISTRIBUTION TO PRIVATE CUSTOMERS AS DEFINED BY THE U.K SECURITIES AND FUTURES AUTHORITY.


Aames 2002-2 Final Deal Population

MORGAN STANLEY

Actual Balances as of 12/12/2002

2,442 records

Group I

Balance: 275,047,145




Current Mortgage Rates (%)

Number

of

Mortgage

Loans


Principal Balance

Outstanding as of

the Cutoff Date

% of Aggregate

Principal Balance

Outstanding as of

the Cutoff Date

5.001 - 5.500

4

396,709

0.14

5.501 - 6.000

64

8,231,955

2.99

6.001 - 6.500

200

28,933,873

10.52

6.501 - 7.000

311

43,595,938

15.85

7.001 -7.500

340

45,446,364

16.52

7.501 - 8.000

352

44,733,170

16.26

8.001 - 8.500

269

30,710,708

11.17

8.501 - 9.000

290

29,179,095

10.61

9.001 - 9.500

150

13,616,031

4.95

9.501 - 10.000

176

12,739,459

4.63

10.001- 10.500

91

6,214,821

2.26

10.501- 11.000

81

4,981,382

1.81

11.001- 11.500

41

2,396,420

0.87

11.501- 12.000

36

1,622,841

0.59

12.001- 12.500

14

702,747

0.26

12.501- 13.000

12

707,406

0.26

13.001- 13.500

6

509,713

0.19

13.501- 14.000

4

289,639

0.11

14.501- 15.000

1

38,876

0.01

Total:

2,442

275,047,145

100.00

Minimum: 5.375

   

Maximum: 14.780

   

Weighted Average: 7.905

   




Margin (%)

Number

of

Mortgage

Loans


Principal Balance

Outstanding as of

the Cutoff Date

% of Aggregate

Principal Balance

Outstanding as of

the Cutoff Date

4.001 - 4.500

1

274,963

1.14

5.001 - 5.500

12

1,510,635

6.25

5.501 - 6.000

28

3,080,241

12.74

6.001 - 6.500

57

5,863,365

24.25

6.501 -7.000

48

5,735,711

23.72

7.001 - 7.500

27

2,781,149

11.50

7.501 - 8.000

13

1,361,462

5.63

8.001 - 8.500

21

2,228,152

9.22

8.501 - 9.000

5

423,359

1.75

9.501 - 10.000

11

919,545

3.80

Total:

223

24,178,581

100.00

Minimum: 4.5000

   

Maximum: 9.7000

   

Weighted Average: 6.8790

   

This information is being delivered to a specific number of prospective sophisticated investors in order to assist them in determining whether they have an interest in the type of security described herein. It has been prepared solely for information purposes and is not an offer to buy or sell or a solicitation of an offer to buy or sell any security or instrument or to participate in any trading strategy.  This material is based on information that Morgan Stanley & Co. Incorporated ("Morgan Stanley") considers reliable.  Morgan Stanley makes no representation or warranty with respect to the accuracy or completeness of the information, or with respect to the terms of any future offer of securities conforming to the terms hereof. Any such offer of securities would be made pursuant to a definitive Prospectus or Private Placement Memorandum, as the case may be, prepared by the issuer which could contain material information not contained herein and to which the prospective purchasers are referred.  In the event of any such offering, this information shall be deemed superseded, amended and supplemented in its entirety by such Prospectus or Private Placement Memorandum.  Such Prospectus or Private Placement Memorandum will contain all material information in respect of any securities offered thereby and any decision to invest in such securities should be made solely in reliance upon such Prospectus or Private Placement Memorandum.  The information contained herein may be based on certain assumptions regarding market conditions and other matters and is therefore subject to change.  We make no representations regarding the reasonableness of such assumptions or the likelihood that any of such assumptions will coincide with actual market conditions or events, and this material should not be relied on for such purposes.  No representation is made that any returns indicated will be achieved.  Changes to the assumptions may have a material impact on any returns detailed.  Morgan Stanley disclaims any and all liability relating to this information, including without limitation any express or implied representations or warranties for, statements contained in, and omissions from the information contained herein.  Additional information is available upon request.  Morgan Stanley and others associated with it may have positions in, and may effect transaction in, securities and instruments of issuers mentioned herein and may also perform or seek to perform investment banking services for the issuers of such securities and instruments.  Past performance is not necessarily indicative of future results.  Price and availability are subject to change without notice.  Information contained in this material is current as of the date appearing on this material only.  Information in this material regarding any assets backing any securities discussed herein supercedes all prior information regarding such assets.  Morgan Stanley is acting as the lead underwriter and not acting as agent for the issuer or its affiliates in connection with the proposed transaction.  To our readers worldwide: In addition, please note that this publication has been issued by Morgan Stanley, approved by Morgan Stanley International Limited, a member of The Securities and Futures Authority, and by Morgan Stanley Japan Ltd. We recommend that such investors obtain the advice of their Morgan Stanley, Morgan Stanley International or Morgan Stanley Japan Ltd. representative about the investments concerned. NOT FOR DISTRIBUTION TO PRIVATE CUSTOMERS AS DEFINED BY THE U.K SECURITIES AND FUTURES AUTHORITY.


Aames 2002-2 Final Deal Population

MORGAN STANLEY

Actual Balances as of 12/12/2002

2,442 records

Group I

Balance: 275,047,145



Maximum Mortgage Rates (%)

Number

of

Mortgage

Loans


Principal Balance

Outstanding as of

the Cutoff Date

% of Aggregate

Principal Balance

Outstanding as of

the Cutoff Date

12.001- 12.500

1

119,452

0.49

12.501- 13.000

5

705,543

2.92

13.001- 13.500

10

1,523,646

6.30

13.501- 14.000

16

2,598,445

10.75

14.001- 14.500

20

2,329,082

9.63

14.501- 15.000

45

5,597,473

23.15

15.001- 15.500

24

2,437,358

10.08

15.501- 16.000

29

2,919,246

12.07

16.001- 16.500

26

2,029,938

8.40

16.501- 17.000

20

1,754,398

7.26

17.001- 17.500

10

807,080

3.34

17.501- 18.000

3

187,586

0.78

18.001- 18.500

5

237,096

0.98

18.501- 19.000

4

324,277

1.34

19.001- 19.500

2

344,147

1.42

19.501 - 20.000

2

224,939

0.93

20.501 - 21.000

1

38,876

0.16

Total:

223

24,178,581

100.00

Minimum: 12.5000

   

Maximum: 20.7800

   

Weighted Average: 15.2639

   




Minimum Mortgage Rates (%)

Number

of

Mortgage

Loans


Principal Balance

Outstanding as of

the Cutoff Date

% of Aggregate

Principal Balance

Outstanding as of

the Cutoff Date

6.001 - 6.500

1

119,452

0.49

6.501 -7.000

5

705,543

2.92

7.001 -7.500

10

1,523,646

6.30

7.501 - 8.000

16

2,598,445

10.75

8.001 - 8.500

20

2,329,082

9.63

8.501 - 9.000

45

5,597,473

23.15

9.001 - 9.500

24

2,437,358

10.08

9.501 - 10.000

29

2,919,246

12.07

10.001- 10.500

26

2,029,938

8.40

10.501- 11.000

20

1,754,398

7.26

11.001- 11.500

10

807,080

3.34

11.501- 12.000

3

187,586

0.78

12.001- 12.500

5

237,096

0.98

12.501- 13.000

4

324,277

1.34

13.001- 13.500

2

344,147

1.42

13.501- 14.000

2

224,939

0.93

14.501- 15.000

1

38,876

0.16

Total:

223

24,178,581

100.00

Minimum: 6.5000

   

Maximum: 14.7800

   

Weighted Average: 9.2639

   


This information is being delivered to a specific number of prospective sophisticated investors in order to assist them in determining whether they have an interest in the type of security described herein. It has been prepared solely for information purposes and is not an offer to buy or sell or a solicitation of an offer to buy or sell any security or instrument or to participate in any trading strategy.  This material is based on information that Morgan Stanley & Co. Incorporated ("Morgan Stanley") considers reliable.  Morgan Stanley makes no representation or warranty with respect to the accuracy or completeness of the information, or with respect to the terms of any future offer of securities conforming to the terms hereof. Any such offer of securities would be made pursuant to a definitive Prospectus or Private Placement Memorandum, as the case may be, prepared by the issuer which could contain material information not contained herein and to which the prospective purchasers are referred.  In the event of any such offering, this information shall be deemed superseded, amended and supplemented in its entirety by such Prospectus or Private Placement Memorandum.  Such Prospectus or Private Placement Memorandum will contain all material information in respect of any securities offered thereby and any decision to invest in such securities should be made solely in reliance upon such Prospectus or Private Placement Memorandum.  The information contained herein may be based on certain assumptions regarding market conditions and other matters and is therefore subject to change.  We make no representations regarding the reasonableness of such assumptions or the likelihood that any of such assumptions will coincide with actual market conditions or events, and this material should not be relied on for such purposes.  No representation is made that any returns indicated will be achieved.  Changes to the assumptions may have a material impact on any returns detailed.  Morgan Stanley disclaims any and all liability relating to this information, including without limitation any express or implied representations or warranties for, statements contained in, and omissions from the information contained herein.  Additional information is available upon request.  Morgan Stanley and others associated with it may have positions in, and may effect transaction in, securities and instruments of issuers mentioned herein and may also perform or seek to perform investment banking services for the issuers of such securities and instruments.  Past performance is not necessarily indicative of future results.  Price and availability are subject to change without notice.  Information contained in this material is current as of the date appearing on this material only.  Information in this material regarding any assets backing any securities discussed herein supercedes all prior information regarding such assets.  Morgan Stanley is acting as the lead underwriter and not acting as agent for the issuer or its affiliates in connection with the proposed transaction.  To our readers worldwide: In addition, please note that this publication has been issued by Morgan Stanley, approved by Morgan Stanley International Limited, a member of The Securities and Futures Authority, and by Morgan Stanley Japan Ltd. We recommend that such investors obtain the advice of their Morgan Stanley, Morgan Stanley International or Morgan Stanley Japan Ltd. representative about the investments concerned. NOT FOR DISTRIBUTION TO PRIVATE CUSTOMERS AS DEFINED BY THE U.K SECURITIES AND FUTURES AUTHORITY.


Aames 2002-2 Final Deal Population

MORGAN STANLEY

Actual Balances as of 12/12/2002

2,442 records

Group I

Balance: 275,047,145




Initial Periodic Cap (%)

Number

of

Mortgage

Loans


Principal Balance

Outstanding as of

the Cutoff Date

% of Aggregate

Principal Balance

Outstanding as of

the Cutoff Date

3.000

223

24,178,581

100.00

Total:

223

24,178,581

100.00

Minimum: 3.0000

   

Maximum: 3.0000

   

Weighted Average: 3.0000

   




Periodic Cap (%)

Number

of

Mortgage

Loans


Principal Balance

Outstanding as of

the Cutoff Date

% of Aggregate

Principal Balance

Outstanding as of

the Cutoff Date

1.000

223

24,178,581

100.00

Total:

223

24,178,581

100.00

Minimum: 1.0000

   

Maximum: 1.0000

   

Weighted Average: 1.0000

   




Next Rate Adjustment Date

Number

of

Mortgage

Loans


Principal Balance

Outstanding as of

the Cutoff Date

% of Aggregate

Principal Balance

Outstanding as of

the Cutoff Date

2004-03-01

1

210,336

0.87

2004-04-01

6

558,301

2.31

2004-05-01

7

654,071

2.71

2004-06-01

9

1,144,567

4.73

2004-07-01

15

2,159,546

8.93

2004-08-01

10

950,131

3.93

2004-09-01

7

1,115,592

4.61

2004-11-01

9

1,108,782

4.59

2005-02-01

1

217,297

0.90

2005-03-01

4

242,150

1.00

2005-03-02

1

203,662

0.84

2005-04-01

19

1,727,695

7.15

2005-05-01

14

1,445,646

5.98

2005-06-01

12

1,349,471

5.58

2005-07-01

19

1,925,434

7.96

2005-08-01

23

2,330,200

9.64

2005-09-01

21

1,877,214

7.76

2005-10-01

23

2,491,853

10.31

2005-11-01

21

2,355,434

9.74

2005-12-01

1

111,200

0.46

Total:

223

24,178,581

100.00

Minimum 2004-03-01

   

Maximum: 2005-12-01

   

Weighted Average: 2005-03-22

   

This information is being delivered to a specific number of prospective sophisticated investors in order to assist them in determining whether they have an interest in the type of security described herein. It has been prepared solely for information purposes and is not an offer to buy or sell or a solicitation of an offer to buy or sell any security or instrument or to participate in any trading strategy.  This material is based on information that Morgan Stanley & Co. Incorporated ("Morgan Stanley") considers reliable.  Morgan Stanley makes no representation or warranty with respect to the accuracy or completeness of the information, or with respect to the terms of any future offer of securities conforming to the terms hereof. Any such offer of securities would be made pursuant to a definitive Prospectus or Private Placement Memorandum, as the case may be, prepared by the issuer which could contain material information not contained herein and to which the prospective purchasers are referred.  In the event of any such offering, this information shall be deemed superseded, amended and supplemented in its entirety by such Prospectus or Private Placement Memorandum.  Such Prospectus or Private Placement Memorandum will contain all material information in respect of any securities offered thereby and any decision to invest in such securities should be made solely in reliance upon such Prospectus or Private Placement Memorandum.  The information contained herein may be based on certain assumptions regarding market conditions and other matters and is therefore subject to change.  We make no representations regarding the reasonableness of such assumptions or the likelihood that any of such assumptions will coincide with actual market conditions or events, and this material should not be relied on for such purposes.  No representation is made that any returns indicated will be achieved.  Changes to the assumptions may have a material impact on any returns detailed.  Morgan Stanley disclaims any and all liability relating to this information, including without limitation any express or implied representations or warranties for, statements contained in, and omissions from the information contained herein.  Additional information is available upon request.  Morgan Stanley and others associated with it may have positions in, and may effect transaction in, securities and instruments of issuers mentioned herein and may also perform or seek to perform investment banking services for the issuers of such securities and instruments.  Past performance is not necessarily indicative of future results.  Price and availability are subject to change without notice.  Information contained in this material is current as of the date appearing on this material only.  Information in this material regarding any assets backing any securities discussed herein supercedes all prior information regarding such assets.  Morgan Stanley is acting as the lead underwriter and not acting as agent for the issuer or its affiliates in connection with the proposed transaction.  To our readers worldwide: In addition, please note that this publication has been issued by Morgan Stanley, approved by Morgan Stanley International Limited, a member of The Securities and Futures Authority, and by Morgan Stanley Japan Ltd. We recommend that such investors obtain the advice of their Morgan Stanley, Morgan Stanley International or Morgan Stanley Japan Ltd. representative about the investments concerned. NOT FOR DISTRIBUTION TO PRIVATE CUSTOMERS AS DEFINED BY THE U.K SECURITIES AND FUTURES AUTHORITY.


Aames 2002-2 Final Deal Population

MORGAN STANLEY

Actual Balances as of 12/12/2002

2,442 records

Group I

Balance: 275,047,145



Orig

Loan-to-Value Ratio (%)

Number

of

Mortgage

Loans


Principal Balance

Outstanding as of

the Cutoff Date

% of Aggregate

Principal Balance

Outstanding as of

the Cutoff Date

<= 50.00

167

12,312,721

4.48

50.01 - 60.00

157

14,382,860

5.23

60.01 -70.00

367

38,372,794

13.95

70.01 -75.00

348

37,487,775

13.63

75.01 - 80.00

749

85,553,919

31.11

80.01- 85.00

276

36,180,612

13.15

85.01 - 90.00

276

37,744,697

13.72

90.01 - 95.00

102

13,011,767

4.73

Total:

2,442

275,047,145

100.00

Minimum: 6.85

   

Maximum: 95.00

   

Weighted Average by Original Balance: 76.55

 

Weighted Average by Current Balance: 76.65

 



FICO

Score

Number

of

Mortgage

Loans


Principal Balance

Outstanding as of

the Cutoff Date

% of Aggregate

Principal Balance

Outstanding as of

the Cutoff Date

451-500

25

1,081,939

0.39

501-550

367

35,704,002

12.98

551-600

639

68,459,743

24.89

601-650

768

91,220,044

33.17

651-700

448

53,989,023

19.63

701-750

145

17,989,306

6.54

751-800

49

6,505,638

2.37

801-850

1

97,450

0.04

Total:

2,442

275,047,145

100.00

Minimum: 500

   

Maximum: 814

   

Weighted Average: 618.6

   




Original Term

Number

of

Mortgage

Loans


Principal Balance

Outstanding as of

the Cutoff Date

% of Aggregate

Principal Balance

Outstanding as of

the Cutoff Date

109- 120

15

830,939

0.30

121- 132

3

251,408

0.09

169- 180

339

27,097,283

9.85

181- 192

5

270,030

0.10

193-204

1

51,602

0.02

229-240

93

8,594,229

3.12

289-300

1

59,724

0.02

325-336

1

92,795

0.03

349-360

1,984

237,799,135

86.46

Total:

2,442

275,047,145

100.00

Minimum: 120

   

Maximum: 360

   

Weighted Average: 337.3

   

This information is being delivered to a specific number of prospective sophisticated investors in order to assist them in determining whether they have an interest in the type of security described herein. It has been prepared solely for information purposes and is not an offer to buy or sell or a solicitation of an offer to buy or sell any security or instrument or to participate in any trading strategy.  This material is based on information that Morgan Stanley & Co. Incorporated ("Morgan Stanley") considers reliable.  Morgan Stanley makes no representation or warranty with respect to the accuracy or completeness of the information, or with respect to the terms of any future offer of securities conforming to the terms hereof. Any such offer of securities would be made pursuant to a definitive Prospectus or Private Placement Memorandum, as the case may be, prepared by the issuer which could contain material information not contained herein and to which the prospective purchasers are referred.  In the event of any such offering, this information shall be deemed superseded, amended and supplemented in its entirety by such Prospectus or Private Placement Memorandum.  Such Prospectus or Private Placement Memorandum will contain all material information in respect of any securities offered thereby and any decision to invest in such securities should be made solely in reliance upon such Prospectus or Private Placement Memorandum.  The information contained herein may be based on certain assumptions regarding market conditions and other matters and is therefore subject to change.  We make no representations regarding the reasonableness of such assumptions or the likelihood that any of such assumptions will coincide with actual market conditions or events, and this material should not be relied on for such purposes.  No representation is made that any returns indicated will be achieved.  Changes to the assumptions may have a material impact on any returns detailed.  Morgan Stanley disclaims any and all liability relating to this information, including without limitation any express or implied representations or warranties for, statements contained in, and omissions from the information contained herein.  Additional information is available upon request.  Morgan Stanley and others associated with it may have positions in, and may effect transaction in, securities and instruments of issuers mentioned herein and may also perform or seek to perform investment banking services for the issuers of such securities and instruments.  Past performance is not necessarily indicative of future results.  Price and availability are subject to change without notice.  Information contained in this material is current as of the date appearing on this material only.  Information in this material regarding any assets backing any securities discussed herein supercedes all prior information regarding such assets.  Morgan Stanley is acting as the lead underwriter and not acting as agent for the issuer or its affiliates in connection with the proposed transaction.  To our readers worldwide: In addition, please note that this publication has been issued by Morgan Stanley, approved by Morgan Stanley International Limited, a member of The Securities and Futures Authority, and by Morgan Stanley Japan Ltd. We recommend that such investors obtain the advice of their Morgan Stanley, Morgan Stanley International or Morgan Stanley Japan Ltd. representative about the investments concerned. NOT FOR DISTRIBUTION TO PRIVATE CUSTOMERS AS DEFINED BY THE U.K SECURITIES AND FUTURES AUTHORITY.


Aames 2002-2 Final Deal Population

MORGAN STANLEY

Actual Balances as of 12/12/2002

2,442 records

Group I

Balance: 275,047,145



Remaining Term

to Stated Maturity

Number

of

Mortgage

Loans


Principal Balance

Outstanding as of

the Cutoff Date

% of Aggregate

Principal Balance

Outstanding as of

the Cutoff Date

1 - 12

6

256,778

0.09

61-72

35

958,524

0.35

109- 120

12

825,569

0.30

169- 180

309

26,408,789

9.60

193-204

1

51,602

0.02

229-240

93

8,594,229

3.12

289-300

1

59,724

0.02

325-336

1

92,795

0.03

349-360

1,984

237,799,135

86.46

Total:

2,442

275,047,145

100.00

Minimum: 3

   

Maximum: 360

   

Weighted Average: 335.3

   




Prepayment Penalty Flag

Number

of

Mortgage

Loans


Principal Balance

Outstanding as of

the Cutoff Date

% of Aggregate

Principal Balance

Outstanding as of

the Cutoff Date

No Prepayment Penalty

875

81,031,523

29.46

Prepayment Penalty

1,567

194,015,622

70.54

Total:

2,442

275,047,145

100.00




Prepayment penalty term

Number

of

Mortgage

Loans


Principal Balance

Outstanding as of

the Cutoff Date

% of Aggregate

Principal Balance

Outstanding as of

the Cutoff Date

0

875

81,031,523

29.46

12

169

25,012,302

9.09

24

81

12,154,190

4.42

36

1,287

153,953,990

55.97

60

30

2,895,139

1.05

Total:

2,442

275,047,145

100.00




Documentation Level

Number

of

Mortgage

Loans


Principal Balance

Outstanding as of

the Cutoff Date

% of Aggregate

Principal Balance

Outstanding as of

the Cutoff Date

Full

1,996

221,433,920

80.51

Stated Documentation

412

49,514,911

18.00

Light

34

4,098,315

1.49

Total:

2,442

275,047,145

100.00

This information is being delivered to a specific number of prospective sophisticated investors in order to assist them in determining whether they have an interest in the type of security described herein. It has been prepared solely for information purposes and is not an offer to buy or sell or a solicitation of an offer to buy or sell any security or instrument or to participate in any trading strategy.  This material is based on information that Morgan Stanley & Co. Incorporated ("Morgan Stanley") considers reliable.  Morgan Stanley makes no representation or warranty with respect to the accuracy or completeness of the information, or with respect to the terms of any future offer of securities conforming to the terms hereof. Any such offer of securities would be made pursuant to a definitive Prospectus or Private Placement Memorandum, as the case may be, prepared by the issuer which could contain material information not contained herein and to which the prospective purchasers are referred.  In the event of any such offering, this information shall be deemed superseded, amended and supplemented in its entirety by such Prospectus or Private Placement Memorandum.  Such Prospectus or Private Placement Memorandum will contain all material information in respect of any securities offered thereby and any decision to invest in such securities should be made solely in reliance upon such Prospectus or Private Placement Memorandum.  The information contained herein may be based on certain assumptions regarding market conditions and other matters and is therefore subject to change.  We make no representations regarding the reasonableness of such assumptions or the likelihood that any of such assumptions will coincide with actual market conditions or events, and this material should not be relied on for such purposes.  No representation is made that any returns indicated will be achieved.  Changes to the assumptions may have a material impact on any returns detailed.  Morgan Stanley disclaims any and all liability relating to this information, including without limitation any express or implied representations or warranties for, statements contained in, and omissions from the information contained herein.  Additional information is available upon request.  Morgan Stanley and others associated with it may have positions in, and may effect transaction in, securities and instruments of issuers mentioned herein and may also perform or seek to perform investment banking services for the issuers of such securities and instruments.  Past performance is not necessarily indicative of future results.  Price and availability are subject to change without notice.  Information contained in this material is current as of the date appearing on this material only.  Information in this material regarding any assets backing any securities discussed herein supercedes all prior information regarding such assets.  Morgan Stanley is acting as the lead underwriter and not acting as agent for the issuer or its affiliates in connection with the proposed transaction.  To our readers worldwide: In addition, please note that this publication has been issued by Morgan Stanley, approved by Morgan Stanley International Limited, a member of The Securities and Futures Authority, and by Morgan Stanley Japan Ltd. We recommend that such investors obtain the advice of their Morgan Stanley, Morgan Stanley International or Morgan Stanley Japan Ltd. representative about the investments concerned. NOT FOR DISTRIBUTION TO PRIVATE CUSTOMERS AS DEFINED BY THE U.K SECURITIES AND FUTURES AUTHORITY.


Aames 2002-2 Final Deal Population

MORGAN STANLEY

Actual Balances as of 12/12/2002

2,442 records

Group I

Balance: 275,047,145



Credit Grade

Number

of

Mortgage

Loans


Principal Balance

Outstanding as of

the Cutoff Date

% of Aggregate

Principal Balance

Outstanding as of

the Cutoff Date

A

584

67,625,521

24.59

A-

344

37,019,325

13.46

A+

778

100,920,539

36.69

B

277

27,287,000

9.92

B-

23

1,635,619

0.59

B+

43

3,350,077

1.22

C

107

8,403,325

3.06

C-

49

5,089,808

1.85

C+

16

849,502

0.31

D

83

4,680,565

1.70

S

138

18,185,865

6.61

Total:

2,442

275,047,145

100.00




Occupancy

Number

of

Mortgage

Loans


Principal Balance

Outstanding as of

the Cutoff Date

% of Aggregate

Principal Balance

Outstanding as of

the Cutoff Date

Primary

2,226

255,400,880

92.86

Non-Owner Occupied

216

19,646,265

7.14

Total:

2,442

275,047,145

100.00




Channel

Number

of

Mortgage

Loans


Principal Balance

Outstanding as of

the Cutoff Date

% of Aggregate

Principal Balance

Outstanding as of

the Cutoff Date

Broker/Wholesale

601

83,599,270

30.39

National Loan Center

390

40,511,824

14.73

National Loan Center - Irvine

126

15,025,869

5.46

Retail

946

87,322,504

31.75

Unaffiliated Originator

1

243,908

0.09

Unknown

378

48,343,770

17.58

Total:

2,442

275,047,145

100.00




Property Type

Number

of

Mortgage

Loans


Principal Balance

Outstanding as of

the Cutoff Date

% of Aggregate

Principal Balance

Outstanding as of

the Cutoff Date

Single Family Residence

2,169

239,994,828

87.26

2-4 Family

151

21,428,194

7.79

Condo

96

11,804,990

4.29

Manufactured Housing

19

1,309,269

0.48

Unknown

7

509,864

0.19

Total:

2,442

275,047,145

100.00

This information is being delivered to a specific number of prospective sophisticated investors in order to assist them in determining whether they have an interest in the type of security described herein. It has been prepared solely for information purposes and is not an offer to buy or sell or a solicitation of an offer to buy or sell any security or instrument or to participate in any trading strategy.  This material is based on information that Morgan Stanley & Co. Incorporated ("Morgan Stanley") considers reliable.  Morgan Stanley makes no representation or warranty with respect to the accuracy or completeness of the information, or with respect to the terms of any future offer of securities conforming to the terms hereof. Any such offer of securities would be made pursuant to a definitive Prospectus or Private Placement Memorandum, as the case may be, prepared by the issuer which could contain material information not contained herein and to which the prospective purchasers are referred.  In the event of any such offering, this information shall be deemed superseded, amended and supplemented in its entirety by such Prospectus or Private Placement Memorandum.  Such Prospectus or Private Placement Memorandum will contain all material information in respect of any securities offered thereby and any decision to invest in such securities should be made solely in reliance upon such Prospectus or Private Placement Memorandum.  The information contained herein may be based on certain assumptions regarding market conditions and other matters and is therefore subject to change.  We make no representations regarding the reasonableness of such assumptions or the likelihood that any of such assumptions will coincide with actual market conditions or events, and this material should not be relied on for such purposes.  No representation is made that any returns indicated will be achieved.  Changes to the assumptions may have a material impact on any returns detailed.  Morgan Stanley disclaims any and all liability relating to this information, including without limitation any express or implied representations or warranties for, statements contained in, and omissions from the information contained herein.  Additional information is available upon request.  Morgan Stanley and others associated with it may have positions in, and may effect transaction in, securities and instruments of issuers mentioned herein and may also perform or seek to perform investment banking services for the issuers of such securities and instruments.  Past performance is not necessarily indicative of future results.  Price and availability are subject to change without notice.  Information contained in this material is current as of the date appearing on this material only.  Information in this material regarding any assets backing any securities discussed herein supercedes all prior information regarding such assets.  Morgan Stanley is acting as the lead underwriter and not acting as agent for the issuer or its affiliates in connection with the proposed transaction.  To our readers worldwide: In addition, please note that this publication has been issued by Morgan Stanley, approved by Morgan Stanley International Limited, a member of The Securities and Futures Authority, and by Morgan Stanley Japan Ltd. We recommend that such investors obtain the advice of their Morgan Stanley, Morgan Stanley International or Morgan Stanley Japan Ltd. representative about the investments concerned. NOT FOR DISTRIBUTION TO PRIVATE CUSTOMERS AS DEFINED BY THE U.K SECURITIES AND FUTURES AUTHORITY.


Aames 2002-2 Final Deal Population

MORGAN STANLEY

Actual Balances as of 12/12/2002

2,442 records

Group I

Balance: 275,047,145



Geographic Distribution

by State

Number

of

Mortgage

Loans


Principal Balance

Outstanding as of

the Cutoff Date

% of Aggregate

Principal Balance

Outstanding as of

the Cutoff Date

Arizona

64

6,729,009

2.45

Arkansas

5

284,117

0.10

California

527

81,363,609

29.58

Colorado

22

3,113,155

1.13

Connecticut

9

1,145,458

0.42

Delaware

1

114,932

0.04

Florida

222

23,641,583

8.60

Georgia

20

2,097,484

0.76

Hawaii

6

1,513,928

0.55

Idaho

10

824,016

0.30

Illinois

62

5,899,061

2.14

Indiana

21

1,815,253

0.66

Iowa

51

3,255,074

1.18

Kansas

6

443,099

0.16

Kentucky

11

994,932

0.36

Louisiana

3

199,459

0.07

Maine

3

436,000

0.16

Maryland

21

2,723,413

0.99

Massachusetts

47

7,482,209

2.72

Michigan

87

6,819,920

2.48

Minnesota

37

5,203,577

1.89

Mississippi

5

244,709

0.09

Missouri

49

4,296,793

1.56

Montana

15

1,345,577

0.49

Nebraska

6

533,889

0.19

Nevada

40

5,098,328

1.85

New Hampshire

6

773,020

0.28

New Jersey

49

7,051,657

2.56

New Mexico

7

601,884

0.22

New York

156

23,526,077

8.55

North Carolina

41

3,350,336

1.22

North Dakota

1

139,913

0.05

Ohio

76

5,277,838

1.92

Oklahoma

26

1,692,994

0.62

Oregon

21

2,302,968

0.84

Pennsylvania

54

4,941,294

1.80

Rhode Island

12

1,578,235

0.57

South Carolina

13

1,056,983

0.38

South Dakota

2

122,241

0.04

Tennessee

56

3,829,232

1.39

Texas

409

31,738,407

11.54

Utah

23

2,908,440

1.06

Virginia

45

5,898,185

2.14

Washington

50

7,142,316

2.60

West Virginia

7

551,874

0.20

Wisconsin

37

2,868,910

1.04

Wyoming

1

75,756

0.03

Total:

2,442

275,047,145

100.00

Number of States Represented:

47

  

This information is being delivered to a specific number of prospective sophisticated investors in order to assist them in determining whether they have an interest in the type of security described herein. It has been prepared solely for information purposes and is not an offer to buy or sell or a solicitation of an offer to buy or sell any security or instrument or to participate in any trading strategy.  This material is based on information that Morgan Stanley & Co. Incorporated ("Morgan Stanley") considers reliable.  Morgan Stanley makes no representation or warranty with respect to the accuracy or completeness of the information, or with respect to the terms of any future offer of securities conforming to the terms hereof. Any such offer of securities would be made pursuant to a definitive Prospectus or Private Placement Memorandum, as the case may be, prepared by the issuer which could contain material information not contained herein and to which the prospective purchasers are referred.  In the event of any such offering, this information shall be deemed superseded, amended and supplemented in its entirety by such Prospectus or Private Placement Memorandum.  Such Prospectus or Private Placement Memorandum will contain all material information in respect of any securities offered thereby and any decision to invest in such securities should be made solely in reliance upon such Prospectus or Private Placement Memorandum.  The information contained herein may be based on certain assumptions regarding market conditions and other matters and is therefore subject to change.  We make no representations regarding the reasonableness of such assumptions or the likelihood that any of such assumptions will coincide with actual market conditions or events, and this material should not be relied on for such purposes.  No representation is made that any returns indicated will be achieved.  Changes to the assumptions may have a material impact on any returns detailed.  Morgan Stanley disclaims any and all liability relating to this information, including without limitation any express or implied representations or warranties for, statements contained in, and omissions from the information contained herein.  Additional information is available upon request.  Morgan Stanley and others associated with it may have positions in, and may effect transaction in, securities and instruments of issuers mentioned herein and may also perform or seek to perform investment banking services for the issuers of such securities and instruments.  Past performance is not necessarily indicative of future results.  Price and availability are subject to change without notice.  Information contained in this material is current as of the date appearing on this material only.  Information in this material regarding any assets backing any securities discussed herein supercedes all prior information regarding such assets.  Morgan Stanley is acting as the lead underwriter and not acting as agent for the issuer or its affiliates in connection with the proposed transaction.  To our readers worldwide: In addition, please note that this publication has been issued by Morgan Stanley, approved by Morgan Stanley International Limited, a member of The Securities and Futures Authority, and by Morgan Stanley Japan Ltd. We recommend that such investors obtain the advice of their Morgan Stanley, Morgan Stanley International or Morgan Stanley Japan Ltd. representative about the investments concerned. NOT FOR DISTRIBUTION TO PRIVATE CUSTOMERS AS DEFINED BY THE U.K SECURITIES AND FUTURES AUTHORITY.


Aames 2002-2 Final Deal Population

MORGAN STANLEY

Actual Balances as of 12/12/2002

2,442 records

Group I

Balance: 275,047,145



Lien Position

Number

of

Mortgage

Loans


Principal Balance

Outstanding as of

the Cutoff Date

% of Aggregate

Principal Balance

Outstanding as of

the Cutoff Date

1st Lien

2,442

275,047,145

100.00

Total:

2,442

275,047,145

100.00




Purpose

Number

of

Mortgage

Loans


Principal Balance

Outstanding as of

the Cutoff Date

% of Aggregate

Principal Balance

Outstanding as of

the Cutoff Date

Refinance - Cashout

1,692

193,861,119

70.48

Refinance - Rate Term

572

60,689,343

22.07

Purchase

178

20,496,684

7.45

Total:

2,442

275,047,145

100.00




Mortgage Insurance Flag

Number

of

Mortgage

Loans


Principal Balance

Outstanding as of

the Cutoff Date

% of Aggregate

Principal Balance

Outstanding as of

the Cutoff Date

Mortgage Insurance

63

7,298,108

2.65

No Mortgage Insurance

2,379

267,749,037

97.35

Total:

2,442

275,047,145

100.00




Months Delinquent

Number

of

Mortgage

Loans


Principal Balance

Outstanding as of

the Cutoff Date

% of Aggregate

Principal Balance

Outstanding as of

the Cutoff Date

0

2,442

275,047,145

100.00

Total:

2,442

275,047,145

100.00

Minimum: 0

   

Maximum: 0

   

Weighted Average: 0.0

   

This information is being delivered to a specific number of prospective sophisticated investors in order to assist them in determining whether they have an interest in the type of security described herein. It has been prepared solely for information purposes and is not an offer to buy or sell or a solicitation of an offer to buy or sell any security or instrument or to participate in any trading strategy.  This material is based on information that Morgan Stanley & Co. Incorporated ("Morgan Stanley") considers reliable.  Morgan Stanley makes no representation or warranty with respect to the accuracy or completeness of the information, or with respect to the terms of any future offer of securities conforming to the terms hereof. Any such offer of securities would be made pursuant to a definitive Prospectus or Private Placement Memorandum, as the case may be, prepared by the issuer which could contain material information not contained herein and to which the prospective purchasers are referred.  In the event of any such offering, this information shall be deemed superseded, amended and supplemented in its entirety by such Prospectus or Private Placement Memorandum.  Such Prospectus or Private Placement Memorandum will contain all material information in respect of any securities offered thereby and any decision to invest in such securities should be made solely in reliance upon such Prospectus or Private Placement Memorandum.  The information contained herein may be based on certain assumptions regarding market conditions and other matters and is therefore subject to change.  We make no representations regarding the reasonableness of such assumptions or the likelihood that any of such assumptions will coincide with actual market conditions or events, and this material should not be relied on for such purposes.  No representation is made that any returns indicated will be achieved.  Changes to the assumptions may have a material impact on any returns detailed.  Morgan Stanley disclaims any and all liability relating to this information, including without limitation any express or implied representations or warranties for, statements contained in, and omissions from the information contained herein.  Additional information is available upon request.  Morgan Stanley and others associated with it may have positions in, and may effect transaction in, securities and instruments of issuers mentioned herein and may also perform or seek to perform investment banking services for the issuers of such securities and instruments.  Past performance is not necessarily indicative of future results.  Price and availability are subject to change without notice.  Information contained in this material is current as of the date appearing on this material only.  Information in this material regarding any assets backing any securities discussed herein supercedes all prior information regarding such assets.  Morgan Stanley is acting as the lead underwriter and not acting as agent for the issuer or its affiliates in connection with the proposed transaction.  To our readers worldwide: In addition, please note that this publication has been issued by Morgan Stanley, approved by Morgan Stanley International Limited, a member of The Securities and Futures Authority, and by Morgan Stanley Japan Ltd. We recommend that such investors obtain the advice of their Morgan Stanley, Morgan Stanley International or Morgan Stanley Japan Ltd. representative about the investments concerned. NOT FOR DISTRIBUTION TO PRIVATE CUSTOMERS AS DEFINED BY THE U.K SECURITIES AND FUTURES AUTHORITY.


Aames 2002-2 Final Deal Population

MORGAN STANLEY

Actual Balances as of 12/12/2002

120 records

Group II

Balance: 39,910,844


Summary Statistics

Number of Mortgage Loans:  120

Aggregate Principal Balance ($): 39,910,844

Weighted Average Current Mortgage Rate (%):  7.409

Non-Zero Weighted Average Margin (%): 6.242

Non-Zero Weighted Average Maximum Rate (%): 14.598

Weighted Average Stated Original Term (months): 346

Weighted Average Stated Remaining Term (months): 345

Weighted Average Original LTV (%): 78.10

% First Liens: 100.00

% Owner Occupied: 96.54

% Purchase: 7.87

% Full Doc: 71.67

Non-Zero Weighted Average Credit Score: 627




Product

Number

of

Mortgage

Loans


Principal Balance

Outstanding as of

the Cutoff Date

% of Aggregate

Principal Balance

Outstanding as of

the Cutoff Date

ARM - 2 Year/6 Month

5

1,259,822

3.16

ARM - 3 Year/6 Month

10

2,497,672

6.26

ARM - 5 Year/6 Month

1

39,976

0.10

Fixed Rate

104

36,113,373

90.49

Total:

120

39,910,844

100.00



Current Mortgage Loan

Principal Balance ($)

Number

of

Mortgage

Loans


Principal Balance

Outstanding as of

the Cutoff Date

% of Aggregate

Principal Balance

Outstanding as of

the Cutoff Date

0.01 - 50,000.00

1

39,976

0.10

50,000.01- 100,000.00

9

657,342

1.65

100,000.01 - 150,000.00

9

1,035,138

2.59

150,000.01 - 200,000.00

2

324,000

0.81

200,000.01 - 250,000.00

2

420,000

1.05

250,000.01 - 300,000.00

2

564,400

1.41

300,000.01 - 350,000.00

42

13,594,259

34.06

350,000.01-400,000.00

18

6,844,280

17.15

400,000.01-450,000.00

17

7,231,446

18.12

450,000.01 - 500,000.00

11

5,271,668

13.21

500,000.01 - 550,000.00

5

2,636,327

6.61

550,000.01 - 600,000.00

1

567,008

1.42

700,000.01 - 750,000.00

1

725,000

1.82

Total:

120

39,910,844

100.00

Minimum: 39,976

   

Maximum: 725,000

   

Average: 332,590

   

This information is being delivered to a specific number of prospective sophisticated investors in order to assist them in determining whether they have an interest in the type of security described herein. It has been prepared solely for information purposes and is not an offer to buy or sell or a solicitation of an offer to buy or sell any security or instrument or to participate in any trading strategy.  This material is based on information that Morgan Stanley & Co. Incorporated ("Morgan Stanley") considers reliable.  Morgan Stanley makes no representation or warranty with respect to the accuracy or completeness of the information, or with respect to the terms of any future offer of securities conforming to the terms hereof. Any such offer of securities would be made pursuant to a definitive Prospectus or Private Placement Memorandum, as the case may be, prepared by the issuer which could contain material information not contained herein and to which the prospective purchasers are referred.  In the event of any such offering, this information shall be deemed superseded, amended and supplemented in its entirety by such Prospectus or Private Placement Memorandum.  Such Prospectus or Private Placement Memorandum will contain all material information in respect of any securities offered thereby and any decision to invest in such securities should be made solely in reliance upon such Prospectus or Private Placement Memorandum.  The information contained herein may be based on certain assumptions regarding market conditions and other matters and is therefore subject to change.  We make no representations regarding the reasonableness of such assumptions or the likelihood that any of such assumptions will coincide with actual market conditions or events, and this material should not be relied on for such purposes.  No representation is made that any returns indicated will be achieved.  Changes to the assumptions may have a material impact on any returns detailed.  Morgan Stanley disclaims any and all liability relating to this information, including without limitation any express or implied representations or warranties for, statements contained in, and omissions from the information contained herein.  Additional information is available upon request.  Morgan Stanley and others associated with it may have positions in, and may effect transaction in, securities and instruments of issuers mentioned herein and may also perform or seek to perform investment banking services for the issuers of such securities and instruments.  Past performance is not necessarily indicative of future results.  Price and availability are subject to change without notice.  Information contained in this material is current as of the date appearing on this material only.  Information in this material regarding any assets backing any securities discussed herein supercedes all prior information regarding such assets.  Morgan Stanley is acting as the lead underwriter and not acting as agent for the issuer or its affiliates in connection with the proposed transaction.  To our readers worldwide: In addition, please note that this publication has been issued by Morgan Stanley, approved by Morgan Stanley International Limited, a member of The Securities and Futures Authority, and by Morgan Stanley Japan Ltd. We recommend that such investors obtain the advice of their Morgan Stanley, Morgan Stanley International or Morgan Stanley Japan Ltd. representative about the investments concerned. NOT FOR DISTRIBUTION TO PRIVATE CUSTOMERS AS DEFINED BY THE U.K SECURITIES AND FUTURES AUTHORITY.


Aames 2002-2 Final Deal Population

MORGAN STANLEY

Actual Balances as of 12/12/2002

120 records

Group II

Balance: 39,910,844




Current Mortgage Rates (%)

Number

of

Mortgage

Loans


Principal Balance

Outstanding as of

the Cutoff Date

% of Aggregate

Principal Balance

Outstanding as of

the Cutoff Date

5.501 - 6.000

3

1,074,466

2.69

6.001 - 6.500

16

6,243,323

15.64

6.501 -7.000

27

10,287,690

25.78

7.001 -7.500

23

7,680,713

19.24

7.501 - 8.000

19

5,678,402

14.23

8.001 - 8.500

13

4,840,973

12.13

8.501 - 9.000

6

2,315,669

5.80

9.001 - 9.500

5

451,776

1.13

9.501 - 10.000

5

1,098,594

2.75

11.501 - 12.000

2

96,926

0.24

12.501- 13.000

1

142,312

0.36

Total:

120

39,910,844

100.00

Minimum: 5.750

   

Maximum: 12.680

   

Weighted Average: 7.409

   




Margin (%)

Number

of

Mortgage

Loans


Principal Balance

Outstanding as of

the Cutoff Date

% of Aggregate

Principal Balance

Outstanding as of

the Cutoff Date

4.501 - 5.000

1

309,823

8.16

5.001 - 5.500

2

774,129

20.39

5.501 - 6.000

2

638,299

16.81

6.001 - 6.500

1

314,578

8.28

6.501-7.000

5

1,211,127

31.89

7.001 -7.500

3

354,962

9.35

7.501 - 8.000

1

107,693

2.84

8.001 - 8.500

1

86,861

2.29

Total:

16

3,797,471

100.00

Minimum: 5.0000

   

Maximum: 8.1300

   

Weighted Average: 6.2417

   




Maximum Mortgage Rates (%)

Number

of

Mortgage

Loans


Principal Balance

Outstanding as of

the Cutoff Date

% of Aggregate

Principal Balance

Outstanding as of

the Cutoff Date

12.501- 13.000

1

463,780

12.21

13.001- 13.500

2

614,292

16.18

14.001- 14.500

2

800,917

21.09

14.501- 15.000

2

876,831

23.09

15.001- 15.500

4

350,230

9.22

15.501- 16.000

3

509,132

13.41

16.501- 17.000

1

39,976

1.05

18.501- 19.000

1

142,312

3.75

Total:

16

3,797,471

100.00

Minimum: 12.7000

   

Maximum: 18.6800

   

Weighted Average: 14.5984

   

This information is being delivered to a specific number of prospective sophisticated investors in order to assist them in determining whether they have an interest in the type of security described herein. It has been prepared solely for information purposes and is not an offer to buy or sell or a solicitation of an offer to buy or sell any security or instrument or to participate in any trading strategy.  This material is based on information that Morgan Stanley & Co. Incorporated ("Morgan Stanley") considers reliable.  Morgan Stanley makes no representation or warranty with respect to the accuracy or completeness of the information, or with respect to the terms of any future offer of securities conforming to the terms hereof. Any such offer of securities would be made pursuant to a definitive Prospectus or Private Placement Memorandum, as the case may be, prepared by the issuer which could contain material information not contained herein and to which the prospective purchasers are referred.  In the event of any such offering, this information shall be deemed superseded, amended and supplemented in its entirety by such Prospectus or Private Placement Memorandum.  Such Prospectus or Private Placement Memorandum will contain all material information in respect of any securities offered thereby and any decision to invest in such securities should be made solely in reliance upon such Prospectus or Private Placement Memorandum.  The information contained herein may be based on certain assumptions regarding market conditions and other matters and is therefore subject to change.  We make no representations regarding the reasonableness of such assumptions or the likelihood that any of such assumptions will coincide with actual market conditions or events, and this material should not be relied on for such purposes.  No representation is made that any returns indicated will be achieved.  Changes to the assumptions may have a material impact on any returns detailed.  Morgan Stanley disclaims any and all liability relating to this information, including without limitation any express or implied representations or warranties for, statements contained in, and omissions from the information contained herein.  Additional information is available upon request.  Morgan Stanley and others associated with it may have positions in, and may effect transaction in, securities and instruments of issuers mentioned herein and may also perform or seek to perform investment banking services for the issuers of such securities and instruments.  Past performance is not necessarily indicative of future results.  Price and availability are subject to change without notice.  Information contained in this material is current as of the date appearing on this material only.  Information in this material regarding any assets backing any securities discussed herein supercedes all prior information regarding such assets.  Morgan Stanley is acting as the lead underwriter and not acting as agent for the issuer or its affiliates in connection with the proposed transaction.  To our readers worldwide: In addition, please note that this publication has been issued by Morgan Stanley, approved by Morgan Stanley International Limited, a member of The Securities and Futures Authority, and by Morgan Stanley Japan Ltd. We recommend that such investors obtain the advice of their Morgan Stanley, Morgan Stanley International or Morgan Stanley Japan Ltd. representative about the investments concerned. NOT FOR DISTRIBUTION TO PRIVATE CUSTOMERS AS DEFINED BY THE U.K SECURITIES AND FUTURES AUTHORITY.


Aames 2002-2 Final Deal Population

MORGAN STANLEY

Actual Balances as of 12/12/2002

120 records

Group II

Balance: 39,910,844




Minimum Mortgage Rates (%)

Number

of

Mortgage

Loans


Principal Balance

Outstanding as of

the Cutoff Date

% of Aggregate

Principal Balance

Outstanding as of

the Cutoff Date

6.501 -7.000

1

463,780

12.21

7.001-7.500

2

614,292

16.18

8.001 - 8.500

2

800,917

21.09

8.501 - 9.000

2

876,831

23.09

9.001 - 9.500

4

350,230

9.22

9.501 - 10.000

3

509,132

13.41

11.501 - 12.000

1

39,976

1.05

12.501- 13.000

1

142,312

3.75

Total:

16

3,797,471

100.00

Minimum: 6.7000

   

Maximum: 12.6800

   

Weighted Average: 8.6089

   




Initial Periodic Cap (%)

Number

of

Mortgage

Loans


Principal Balance

Outstanding as of

the Cutoff Date

% of Aggregate

Principal Balance

Outstanding as of

the Cutoff Date

3.000

15

3,757,495

98.95

5.000

1

39,976

1.05

Total:

16

3,797,471

100.00

Minimum: 3.0000

   

Maximum: 5.0000

   

Weighted Average: 3.0211

   




Periodic Cap (%)

Number

of

Mortgage

Loans


Principal Balance

Outstanding as of

the Cutoff Date

% of Aggregate

Principal Balance

Outstanding as of

the Cutoff Date

1.000

16

3,797,471

100.00

Total:

16

3,797,471

100.00

Minimum: 1.0000

   

Maximum: 1.0000

   

Weighted Average: 1.0000

   

This information is being delivered to a specific number of prospective sophisticated investors in order to assist them in determining whether they have an interest in the type of security described herein. It has been prepared solely for information purposes and is not an offer to buy or sell or a solicitation of an offer to buy or sell any security or instrument or to participate in any trading strategy.  This material is based on information that Morgan Stanley & Co. Incorporated ("Morgan Stanley") considers reliable.  Morgan Stanley makes no representation or warranty with respect to the accuracy or completeness of the information, or with respect to the terms of any future offer of securities conforming to the terms hereof. Any such offer of securities would be made pursuant to a definitive Prospectus or Private Placement Memorandum, as the case may be, prepared by the issuer which could contain material information not contained herein and to which the prospective purchasers are referred.  In the event of any such offering, this information shall be deemed superseded, amended and supplemented in its entirety by such Prospectus or Private Placement Memorandum.  Such Prospectus or Private Placement Memorandum will contain all material information in respect of any securities offered thereby and any decision to invest in such securities should be made solely in reliance upon such Prospectus or Private Placement Memorandum.  The information contained herein may be based on certain assumptions regarding market conditions and other matters and is therefore subject to change.  We make no representations regarding the reasonableness of such assumptions or the likelihood that any of such assumptions will coincide with actual market conditions or events, and this material should not be relied on for such purposes.  No representation is made that any returns indicated will be achieved.  Changes to the assumptions may have a material impact on any returns detailed.  Morgan Stanley disclaims any and all liability relating to this information, including without limitation any express or implied representations or warranties for, statements contained in, and omissions from the information contained herein.  Additional information is available upon request.  Morgan Stanley and others associated with it may have positions in, and may effect transaction in, securities and instruments of issuers mentioned herein and may also perform or seek to perform investment banking services for the issuers of such securities and instruments.  Past performance is not necessarily indicative of future results.  Price and availability are subject to change without notice.  Information contained in this material is current as of the date appearing on this material only.  Information in this material regarding any assets backing any securities discussed herein supercedes all prior information regarding such assets.  Morgan Stanley is acting as the lead underwriter and not acting as agent for the issuer or its affiliates in connection with the proposed transaction.  To our readers worldwide: In addition, please note that this publication has been issued by Morgan Stanley, approved by Morgan Stanley International Limited, a member of The Securities and Futures Authority, and by Morgan Stanley Japan Ltd. We recommend that such investors obtain the advice of their Morgan Stanley, Morgan Stanley International or Morgan Stanley Japan Ltd. representative about the investments concerned. NOT FOR DISTRIBUTION TO PRIVATE CUSTOMERS AS DEFINED BY THE U.K SECURITIES AND FUTURES AUTHORITY.


Aames 2002-2 Final Deal Population

MORGAN STANLEY

Actual Balances as of 12/12/2002

120 records

Group II

Balance: 39,910,844




Next Rate Adjustment Date

Number

of

Mortgage

Loans


Principal Balance

Outstanding as of

the Cutoff Date

% of Aggregate

Principal Balance

Outstanding as of

the Cutoff Date

2004-07-01

1

314,578

8.28

2004-08-01

1

463,780

12.21

2005-03-01

1

303,944

8.00

2005-05-01

2

418,042

11.01

2005-06-01

2

608,874

16.03

2005-08-01

2

901,363

23.74

2005-10-01

1

86,861

2.29

2005-11-01

2

394,603

10.39

2005-12-01

2

150,450

3.96

2006-01-01

1

115,000

3.03

2007-09-01

1

39,976

1.05

Total:

16

3,797,471

100.00

Minimum 2004-07-01

   

Maximum: 2007-09-01

   

Weighted Average: 2005-05-12

  




Orig

Loan-to-Value Ratio (%)

Number

of

Mortgage

Loans


Principal Balance

Outstanding as of

the Cutoff Date

% of Aggregate

Principal Balance

Outstanding as of

the Cutoff Date

<= 50.00

7

2,544,507

6.38

50.01 - 60.00

3

809,861

2.03

60.01 -70.00

12

4,784,579

11.99

70.01 -75.00

16

5,420,609

13.58

75.01 - 80.00

28

10,307,102

25.83

80.01 - 85.00

11

3,206,907

8.04

85.01 - 90.00

36

10,949,105

27.43

90.01 - 95.00

7

1,888,174

4.73

Total:

120

39,910,844

100.00

Minimum: 34.54

   

Maximum: 95.00

   

Weighted Average by Original Balance: 78.10

 

Weighted Average by Current Balance: 78.10

 



FICO

Score

Number

of

Mortgage

Loans


Principal Balance

Outstanding as of

the Cutoff Date

% of Aggregate

Principal Balance

Outstanding as of

the Cutoff Date

451-500

5

567,874

1.42

501-550

7

1,599,557

4.01

551-600

29

8,874,136

22.23

601-650

45

16,870,647

42.27

651-700

24

8,257,489

20.69

701-750

8

2,894,046

7.25

751-800

2

847,095

2.12

Total:

120

39,910,844

100.00

Minimum: 464

   

Maximum: 761

   

Weighted Average: 627.0

   

This information is being delivered to a specific number of prospective sophisticated investors in order to assist them in determining whether they have an interest in the type of security described herein. It has been prepared solely for information purposes and is not an offer to buy or sell or a solicitation of an offer to buy or sell any security or instrument or to participate in any trading strategy.  This material is based on information that Morgan Stanley & Co. Incorporated ("Morgan Stanley") considers reliable.  Morgan Stanley makes no representation or warranty with respect to the accuracy or completeness of the information, or with respect to the terms of any future offer of securities conforming to the terms hereof. Any such offer of securities would be made pursuant to a definitive Prospectus or Private Placement Memorandum, as the case may be, prepared by the issuer which could contain material information not contained herein and to which the prospective purchasers are referred.  In the event of any such offering, this information shall be deemed superseded, amended and supplemented in its entirety by such Prospectus or Private Placement Memorandum.  Such Prospectus or Private Placement Memorandum will contain all material information in respect of any securities offered thereby and any decision to invest in such securities should be made solely in reliance upon such Prospectus or Private Placement Memorandum.  The information contained herein may be based on certain assumptions regarding market conditions and other matters and is therefore subject to change.  We make no representations regarding the reasonableness of such assumptions or the likelihood that any of such assumptions will coincide with actual market conditions or events, and this material should not be relied on for such purposes.  No representation is made that any returns indicated will be achieved.  Changes to the assumptions may have a material impact on any returns detailed.  Morgan Stanley disclaims any and all liability relating to this information, including without limitation any express or implied representations or warranties for, statements contained in, and omissions from the information contained herein.  Additional information is available upon request.  Morgan Stanley and others associated with it may have positions in, and may effect transaction in, securities and instruments of issuers mentioned herein and may also perform or seek to perform investment banking services for the issuers of such securities and instruments.  Past performance is not necessarily indicative of future results.  Price and availability are subject to change without notice.  Information contained in this material is current as of the date appearing on this material only.  Information in this material regarding any assets backing any securities discussed herein supercedes all prior information regarding such assets.  Morgan Stanley is acting as the lead underwriter and not acting as agent for the issuer or its affiliates in connection with the proposed transaction.  To our readers worldwide: In addition, please note that this publication has been issued by Morgan Stanley, approved by Morgan Stanley International Limited, a member of The Securities and Futures Authority, and by Morgan Stanley Japan Ltd. We recommend that such investors obtain the advice of their Morgan Stanley, Morgan Stanley International or Morgan Stanley Japan Ltd. representative about the investments concerned. NOT FOR DISTRIBUTION TO PRIVATE CUSTOMERS AS DEFINED BY THE U.K SECURITIES AND FUTURES AUTHORITY.


Page 4 of 8

Aames 2002-2 Final Deal Population

MORGAN STANLEY

Actual Balances as of 12/12/2002

2,442 records

Group I

Balance: 275,047,145




Original Term

Number

of

Mortgage

Loans


Principal Balance

Outstanding as of

the Cutoff Date

% of Aggregate

Principal Balance

Outstanding as of

the Cutoff Date

169- 180

6

1,959,808

4.91

229-240

5

1,606,155

4.02

349-360

109

36,344,881

91.07

Total:

120

39,910,844

100.00

Minimum: 180

   

Maximum: 360

   

Weighted Average: 346.3

   



Remaining Term

to Stated Maturity

Number

of

Mortgage

Loans


Principal Balance

Outstanding as of

the Cutoff Date

% of Aggregate

Principal Balance

Outstanding as of

the Cutoff Date

169- 180

6

1,959,808

4.91

229-240

5

1,606,155

4.02

349-360

109

36,344,881

91.07

Total:

120

39,910,844

100.00

Minimum: 179

   

Maximum: 360

   

Weighted Average: 344.8

   




Prepayment Penalty Flag

Number

of

Mortgage

Loans


Principal Balance

Outstanding as of

the Cutoff Date

% of Aggregate

Principal Balance

Outstanding as of

the Cutoff Date

No Prepayment Penalty

23

6,691,637

16.77

Prepayment Penalty

97

33,219,207

83.23

Total:

120

39,910,844

100.00

    




Prepayment penalty term

Number

of

Mortgage

Loans


Principal Balance

Outstanding as of

the Cutoff Date

% of Aggregate

Principal Balance

Outstanding as of

the Cutoff Date

0

23

6,691,637

16.77

12

17

5,970,634

14.96

24

7

2,410,975

6.04

36

72

24,736,349

61.98

60

1

101,250

0.25

Total:

120

39,910,844

100.00

This information is being delivered to a specific number of prospective sophisticated investors in order to assist them in determining whether they have an interest in the type of security described herein. It has been prepared solely for information purposes and is not an offer to buy or sell or a solicitation of an offer to buy or sell any security or instrument or to participate in any trading strategy.  This material is based on information that Morgan Stanley & Co. Incorporated ("Morgan Stanley") considers reliable.  Morgan Stanley makes no representation or warranty with respect to the accuracy or completeness of the information, or with respect to the terms of any future offer of securities conforming to the terms hereof. Any such offer of securities would be made pursuant to a definitive Prospectus or Private Placement Memorandum, as the case may be, prepared by the issuer which could contain material information not contained herein and to which the prospective purchasers are referred.  In the event of any such offering, this information shall be deemed superseded, amended and supplemented in its entirety by such Prospectus or Private Placement Memorandum.  Such Prospectus or Private Placement Memorandum will contain all material information in respect of any securities offered thereby and any decision to invest in such securities should be made solely in reliance upon such Prospectus or Private Placement Memorandum.  The information contained herein may be based on certain assumptions regarding market conditions and other matters and is therefore subject to change.  We make no representations regarding the reasonableness of such assumptions or the likelihood that any of such assumptions will coincide with actual market conditions or events, and this material should not be relied on for such purposes.  No representation is made that any returns indicated will be achieved.  Changes to the assumptions may have a material impact on any returns detailed.  Morgan Stanley disclaims any and all liability relating to this information, including without limitation any express or implied representations or warranties for, statements contained in, and omissions from the information contained herein.  Additional information is available upon request.  Morgan Stanley and others associated with it may have positions in, and may effect transaction in, securities and instruments of issuers mentioned herein and may also perform or seek to perform investment banking services for the issuers of such securities and instruments.  Past performance is not necessarily indicative of future results.  Price and availability are subject to change without notice.  Information contained in this material is current as of the date appearing on this material only.  Information in this material regarding any assets backing any securities discussed herein supercedes all prior information regarding such assets.  Morgan Stanley is acting as the lead underwriter and not acting as agent for the issuer or its affiliates in connection with the proposed transaction.  To our readers worldwide: In addition, please note that this publication has been issued by Morgan Stanley, approved by Morgan Stanley International Limited, a member of The Securities and Futures Authority, and by Morgan Stanley Japan Ltd. We recommend that such investors obtain the advice of their Morgan Stanley, Morgan Stanley International or Morgan Stanley Japan Ltd. representative about the investments concerned. NOT FOR DISTRIBUTION TO PRIVATE CUSTOMERS AS DEFINED BY THE U.K SECURITIES AND FUTURES AUTHORITY.


Aames 2002-2 Final Deal Population

MORGAN STANLEY

Actual Balances as of 12/12/2002

120 records

Group II

Balance: 39,910,844




Documentation Level

Number

of

Mortgage

Loans


Principal Balance

Outstanding as of

the Cutoff Date

% of Aggregate

Principal Balance

Outstanding as of

the Cutoff Date

Full

90

28,602,578

71.67

Stated Documentation

27

10,336,566

25.90

Light

3

971,700

2.43

Total:

120

39,910,844

100.00



Credit Grade

Number

of

Mortgage

Loans


Principal Balance

Outstanding as of

the Cutoff Date

% of Aggregate

Principal Balance

Outstanding as of

the Cutoff Date

A

27

9,422,970

23.61

A-

21

6,959,830

17.44

A+

50

16,974,438

42.53

B

6

1,478,023

3.70

C

3

512,288

1.28

C-

2

188,407

0.47

S

11

4,374,887

10.96

Total:

120

39,910,844

100.00




Occupancy

Number

of

Mortgage

Loans


Principal Balance

Outstanding as of

the Cutoff Date

% of Aggregate

Principal Balance

Outstanding as of

the Cutoff Date

Primary

115

38,528,822

96.54

Non-Owner Occupied

5

1,382,023

3.46

Total:

120

39,910,844

100.00




Channel

Number

of

Mortgage

Loans


Principal Balance

Outstanding as of

the Cutoff Date

% of Aggregate

Principal Balance

Outstanding as of

the Cutoff Date

Broker/Wholesale

62

20,717,516

51.91

National Loan Center

9

3,142,543

7.87

National Loan Center -Irvine

4

1,592,638

3.99

Retail

29

9,003,147

22.56

Unknown

16

5,455,000

13.67

Total:

120

39,910,844

100.00




Property Type

Number

of

Mortgage

Loans


Principal Balance

Outstanding as of

the Cutoff Date

% of Aggregate

Principal Balance

Outstanding as of

the Cutoff Date

Single Family Residence

110

37,265,857

93.37

Condo

4

1,460,814

3.66

2-4 Family

5

1,099,393

2.75

Unknown

1

84,780

0.21

Total:

120

39,910,844

100.00

This information is being delivered to a specific number of prospective sophisticated investors in order to assist them in determining whether they have an interest in the type of security described herein. It has been prepared solely for information purposes and is not an offer to buy or sell or a solicitation of an offer to buy or sell any security or instrument or to participate in any trading strategy.  This material is based on information that Morgan Stanley & Co. Incorporated ("Morgan Stanley") considers reliable.  Morgan Stanley makes no representation or warranty with respect to the accuracy or completeness of the information, or with respect to the terms of any future offer of securities conforming to the terms hereof. Any such offer of securities would be made pursuant to a definitive Prospectus or Private Placement Memorandum, as the case may be, prepared by the issuer which could contain material information not contained herein and to which the prospective purchasers are referred.  In the event of any such offering, this information shall be deemed superseded, amended and supplemented in its entirety by such Prospectus or Private Placement Memorandum.  Such Prospectus or Private Placement Memorandum will contain all material information in respect of any securities offered thereby and any decision to invest in such securities should be made solely in reliance upon such Prospectus or Private Placement Memorandum.  The information contained herein may be based on certain assumptions regarding market conditions and other matters and is therefore subject to change.  We make no representations regarding the reasonableness of such assumptions or the likelihood that any of such assumptions will coincide with actual market conditions or events, and this material should not be relied on for such purposes.  No representation is made that any returns indicated will be achieved.  Changes to the assumptions may have a material impact on any returns detailed.  Morgan Stanley disclaims any and all liability relating to this information, including without limitation any express or implied representations or warranties for, statements contained in, and omissions from the information contained herein.  Additional information is available upon request.  Morgan Stanley and others associated with it may have positions in, and may effect transaction in, securities and instruments of issuers mentioned herein and may also perform or seek to perform investment banking services for the issuers of such securities and instruments.  Past performance is not necessarily indicative of future results.  Price and availability are subject to change without notice.  Information contained in this material is current as of the date appearing on this material only.  Information in this material regarding any assets backing any securities discussed herein supercedes all prior information regarding such assets.  Morgan Stanley is acting as the lead underwriter and not acting as agent for the issuer or its affiliates in connection with the proposed transaction.  To our readers worldwide: In addition, please note that this publication has been issued by Morgan Stanley, approved by Morgan Stanley International Limited, a member of The Securities and Futures Authority, and by Morgan Stanley Japan Ltd. We recommend that such investors obtain the advice of their Morgan Stanley, Morgan Stanley International or Morgan Stanley Japan Ltd. representative about the investments concerned. NOT FOR DISTRIBUTION TO PRIVATE CUSTOMERS AS DEFINED BY THE U.K SECURITIES AND FUTURES AUTHORITY.

Page 6 of 8


Aames 2002-2 Final Deal Population

MORGAN STANLEY

Actual Balances as of 12/12/2002

120 records

Group II

Balance: 39,910,844



Geographic Distribution

by State

Number

of

Mortgage

Loans


Principal Balance

Outstanding as of

the Cutoff Date

% of Aggregate

Principal Balance

Outstanding as of

the Cutoff Date

California

50

19,199,900

48.11

Florida

9

3,171,541

7.95

Hawaii

1

463,780

1.16

Illinois

2

614,183

1.54

Louisiana

2

819,407

2.05

Massachusetts

2

755,173

1.89

Michigan

1

314,578

0.79

Minnesota

1

304,000

0.76

Mississippi

1

56,950

0.14

Missouri

2

383,261

0.96

Nevada

1

399,638

1.00

New Hampshire

1

309,000

0.77

New Jersey

2

718,323

1.80

New York

19

6,578,513

16.48

North Carolina

1

52,800

0.13

Ohio

2

457,416

1.15

Pennsylvania

2

546,651

1.37

Tennessee

3

226,800

0.57

Texas

8

2,462,577

6.17

Virginia

2

420,000

1.05

Washington

6

1,434,477

3.59

Wisconsin

2

221,875

0.56

Total:

120

39,910,844

100.00

Number of States Represented:

22

  




Lien Position

Number

of

Mortgage

Loans


Principal Balance

Outstanding as of

the Cutoff Date

% of Aggregate

Principal Balance

Outstanding as of

the Cutoff Date

1st Lien

120

39,910,844

100.00

Total:

120

39,910,844

100.00




Purpose

Number

of

Mortgage

Loans


Principal Balance

Outstanding as of

the Cutoff Date

% of Aggregate

Principal Balance

Outstanding as of

the Cutoff Date

Refinance- Cashout

90

29,052,134

72.79

Refinance - Rate Term

22

7,719,659

19.34

Purchase

8

3,139,051

7.87

Total:

120

39,910,844

100.00




Mortgage Insurance Flag

Number

of

Mortgage

Loans


Principal Balance

Outstanding as of

the Cutoff Date

% of Aggregate

Principal Balance

Outstanding as of

the Cutoff Date

Mortgage Insurance

2

619,239

1.55

No Mortgage Insurance

118

39,291,605

98.45

Total:

120

39,910,844

100.00

This information is being delivered to a specific number of prospective sophisticated investors in order to assist them in determining whether they have an interest in the type of security described herein. It has been prepared solely for information purposes and is not an offer to buy or sell or a solicitation of an offer to buy or sell any security or instrument or to participate in any trading strategy.  This material is based on information that Morgan Stanley & Co. Incorporated ("Morgan Stanley") considers reliable.  Morgan Stanley makes no representation or warranty with respect to the accuracy or completeness of the information, or with respect to the terms of any future offer of securities conforming to the terms hereof. Any such offer of securities would be made pursuant to a definitive Prospectus or Private Placement Memorandum, as the case may be, prepared by the issuer which could contain material information not contained herein and to which the prospective purchasers are referred.  In the event of any such offering, this information shall be deemed superseded, amended and supplemented in its entirety by such Prospectus or Private Placement Memorandum.  Such Prospectus or Private Placement Memorandum will contain all material information in respect of any securities offered thereby and any decision to invest in such securities should be made solely in reliance upon such Prospectus or Private Placement Memorandum.  The information contained herein may be based on certain assumptions regarding market conditions and other matters and is therefore subject to change.  We make no representations regarding the reasonableness of such assumptions or the likelihood that any of such assumptions will coincide with actual market conditions or events, and this material should not be relied on for such purposes.  No representation is made that any returns indicated will be achieved.  Changes to the assumptions may have a material impact on any returns detailed.  Morgan Stanley disclaims any and all liability relating to this information, including without limitation any express or implied representations or warranties for, statements contained in, and omissions from the information contained herein.  Additional information is available upon request.  Morgan Stanley and others associated with it may have positions in, and may effect transaction in, securities and instruments of issuers mentioned herein and may also perform or seek to perform investment banking services for the issuers of such securities and instruments.  Past performance is not necessarily indicative of future results.  Price and availability are subject to change without notice.  Information contained in this material is current as of the date appearing on this material only.  Information in this material regarding any assets backing any securities discussed herein supercedes all prior information regarding such assets.  Morgan Stanley is acting as the lead underwriter and not acting as agent for the issuer or its affiliates in connection with the proposed transaction.  To our readers worldwide: In addition, please note that this publication has been issued by Morgan Stanley, approved by Morgan Stanley International Limited, a member of The Securities and Futures Authority, and by Morgan Stanley Japan Ltd. We recommend that such investors obtain the advice of their Morgan Stanley, Morgan Stanley International or Morgan Stanley Japan Ltd. representative about the investments concerned. NOT FOR DISTRIBUTION TO PRIVATE CUSTOMERS AS DEFINED BY THE U.K SECURITIES AND FUTURES AUTHORITY.

Page 7 of 8


Aames 2002-2 Final Deal Population

MORGAN STANLEY

Actual Balances as of 12/12/2002

120 records

Group II

Balance: 39,910,844



Months Delinquent

Number

of

Mortgage

Loans


Principal Balance

Outstanding as of

the Cutoff Date

% of Aggregate

Principal Balance

Outstanding as of

the Cutoff Date

0

120

39,910,844

100.00

Total:

120

39,910,844

100.00

Minimum: 0

   

Maximum: 0

   

Weighted Average: 0.0

   

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