Common use of Range of Gross Interest Clause in Contracts

Range of Gross Interest. Rates (%) ------------------------------------------------------------------------------------------------------------------------------------ % of Mortgage Aggregate Pool by Weighted Weighted Cut-off Aggregate Average Weighted Average Non-Zero Number Date Cut-off Gross Average Original Weighted of Principal Date Interest Remaining Combined Average Pct Pct Pct Weighted Range of Gross Mortgage Balance Principal Rate Term LTV FICO Full Owner Fixed Average Interest Rates (%) Loans ($) Balance (%) (Months) (%) Score Doc Occ Rate DTI ------------------------------------------------------------------------------------------------------------------------------------ 4.000 - 4.999 12 3,408,055 0.30 4.986 358 79.55 718 67.74 95.04 0.00 38.46 5.000 - 5.999 568 165,199,842 14.58 5.757 356 79.06 676 66.32 95.90 5.30 39.60 6.000 - 6.999 1,876 476,291,238 42.04 6.587 355 79.84 646 45.04 95.00 14.67 40.95 7.000 - 7.999 1,327 280,678,234 24.77 7.493 355 81.43 619 42.08 94.40 12.75 40.97 8.000 - 8.999 713 100,206,095 8.85 8.503 325 85.83 601 57.26 93.38 24.14 40.22 9.000 - 9.999 641 50,735,561 4.48 9.639 244 92.92 633 44.97 96.03 68.42 40.14 10.000 - 10.999 672 39,750,241 3.51 10.668 186 98.05 648 31.73 98.60 96.34 41.76 11.000 - 11.999 210 8,199,831 0.72 11.711 186 98.08 630 50.58 98.66 97.06 41.47 12.000 - 12.999 207 8,405,243 0.74 12.673 179 99.44 629 52.59 95.82 100.00 41.78 13.000 - 13.999 2 35,169 0.00 13.492 176 100.00 626 51.11 100.00 100.00 45.13 ------------------------------------------------------------------------------------------------------------------------------------ Total: 6,228 1,132,909,507 100.00 7.217 339 82.15 639 48.18 95.04 20.13 40.69 ------------------------------------------------------------------------------------------------------------------------------------ Minimum: 4.875 Maximum: 13.875 Weighted Average: 7.217

Range of Gross Interest. Rates (%) ------------------------------------------------------------------------------------------------------------------------------------ --------------------------------------------------------------------------------------------------------------------- % of Mortgage Aggregate Pool by Aggregate Aggregate Weighted Weighted Weighted Number Cut-off Aggregate Average Weighted Average Non-Zero Number Date Cut-off Gross Average Original Average Average Weighted of Principal Date Interest Date Gross Remaining Combined Average Pct Pct Pct Weighted Mortgage Principal Principal Interest Term Original FICO Range of Gross Mortgage Balance Principal Rate Term LTV FICO Full Owner Fixed Average Interest Rates (%) Loans Balance ($) Balance Rate (%) (Monthsmonths) (%) LTV Score Doc Occ Rate DTI ------------------------------------------------------------------------------------------------------------------------------------ 4.000 --------------------------------------------------------------------------------------------------------------------- 4.750 - 4.999 12 3,408,055 0.30 4.986 358 79.55 718 67.74 95.04 0.00 38.46 1 102,803 0.06 4.750 177 77.04 709 5.000 - 5.249 1 101,646 0.06 5.125 177 66.15 679 5.250 - 5.499 6 1,599,379 0.87 5.281 309 66.97 661 5.500 - 5.749 22 5,111,472 2.78 5.551 299 72.65 658 5.750 - 5.999 568 165,199,842 14.58 5.757 356 79.06 676 66.32 95.90 5.30 39.60 85 20,554,664 11.16 5.880 344 77.49 668 6.000 - 6.249 49 11,496,658 6.24 6.079 324 75.58 659 6.250 - 6.499 86 16,663,265 9.05 6.322 345 76.09 648 6.500 - 6.749 87 16,991,079 9.23 6.545 343 78.86 644 6.750 - 6.999 1,876 476,291,238 42.04 6.587 355 79.84 646 45.04 95.00 14.67 40.95 124 22,611,334 12.28 6.879 348 76.70 625 7.000 - 7.249 31 4,405,682 2.39 7.124 337 81.00 625 7.250 - 7.499 49 7,250,875 3.94 7.325 341 81.88 616 7.500 - 7.749 42 5,578,078 3.03 7.546 336 82.55 603 7.750 - 7.999 1,327 280,678,234 24.77 7.493 355 81.43 619 42.08 94.40 12.75 40.97 49 6,094,629 3.31 7.877 346 83.99 602 8.000 - 8.249 12 1,578,710 0.86 8.108 352 79.79 608 8.250 - 8.499 42 3,129,440 1.70 8.291 249 93.22 655 8.500 - 8.749 25 2,239,793 1.22 8.524 273 90.08 636 8.750 - 8.999 713 100,206,095 8.85 8.503 325 85.83 601 57.26 93.38 24.14 40.22 90 7,425,809 4.03 8.837 238 94.44 660 9.000 - 9.249 10 727,951 0.40 9.045 246 92.80 643 9.250 - 9.499 35 2,390,020 1.30 9.271 222 96.03 669 9.500 - 9.749 39 2,458,859 1.34 9.518 199 97.03 661 9.750 - 9.999 641 50,735,561 4.48 9.639 244 92.92 633 44.97 96.03 68.42 40.14 102 6,957,768 3.78 9.895 185 96.60 657 10.000 - 10.249 13 839,561 0.46 10.029 177 99.10 653 10.250 - 10.499 42 2,609,024 1.42 10.279 177 99.55 653 10.500 - 10.749 73 4,532,980 2.46 10.505 177 99.10 648 10.750 - 10.999 672 39,750,241 3.51 10.668 186 98.05 648 31.73 98.60 96.34 41.76 341 21,934,420 11.91 10.866 177 98.98 655 11.000 - 11.249 7 269,343 0.15 11.012 177 98.81 666 11.250 - 11.499 29 1,171,717 0.64 11.262 191 97.89 626 11.500 - 11.749 7 256,555 0.14 11.552 177 96.94 640 11.750 - 11.999 210 8,199,831 0.72 11.711 186 98.08 59 2,195,021 1.19 11.933 177 99.54 630 50.58 98.66 97.06 41.47 12.000 - 12.249 9 310,054 0.17 12.118 175 100.00 626 12.250 - 12.499 4 91,000 0.05 12.378 175 99.08 601 12.500 - 12.749 18 758,898 0.41 12.531 182 98.77 664 12.750 - 12.999 207 8,405,243 0.74 12.673 179 99.44 629 52.59 95.82 100.00 41.78 95 3,558,565 1.93 12.859 177 99.53 633 13.000 - 13.999 2 35,169 0.00 13.492 13.249 1 32,677 0.02 13.125 176 95.00 669 13.250 - 13.499 3 107,700 0.06 13.361 177 100.00 626 51.11 100.00 100.00 45.13 ------------------------------------------------------------------------------------------------------------------------------------ 634 Total: 6,228 1,132,909,507 1,688 184,137,432 100.00 7.217 339 82.15 639 48.18 95.04 20.13 40.69 ------------------------------------------------------------------------------------------------------------------------------------ 7.865 289 84.61 645 --------------------------------------------------------------------------------------------------------------------- Minimum: 4.875 4.750 Maximum: 13.875 13.490 Weighted Average: 7.2177.865

Range of Gross Interest. Rates (%) ------------------------------------------------------------------------------------------------------------------------------------ --------------------------------------------------------------------------------------------------------------------- % of Mortgage Aggregate Pool by Aggregate Aggregate Weighted Weighted Weighted Number Cut-off Aggregate Average Weighted Average Non-Zero Number Date Cut-off Gross Average Original Average Average Weighted of Principal Date Interest Date Gross Remaining Combined Average Pct Pct Pct Weighted Mortgage Principal Principal Interest Term Original FICO Range of Gross Mortgage Balance Principal Rate Term LTV FICO Full Owner Fixed Average Interest Rates (%) Loans Balance ($) Balance Rate (%) (Monthsmonths) (%) LTV Score Doc Occ Rate DTI ------------------------------------------------------------------------------------------------------------------------------------ 4.000 --------------------------------------------------------------------------------------------------------------------- 4.500 - 4.749 3 957,250 0.17 4.625 357 74.15 671 4.750 - 4.999 12 3,408,055 0.30 4.986 358 79.55 718 67.74 95.04 0.00 38.46 33 10,662,030 1.89 4.872 357 78.17 683 5.000 - 5.249 36 8,910,606 1.58 5.121 357 78.16 680 5.250 - 5.499 99 30,159,890 5.35 5.323 357 78.49 663 5.500 - 5.749 130 35,285,078 6.26 5.554 357 78.85 659 5.750 - 5.999 568 165,199,842 14.58 5.757 356 79.06 676 66.32 95.90 5.30 39.60 351 93,046,694 16.52 5.895 357 80.76 656 6.000 - 6.249 151 39,475,699 7.01 6.090 357 80.66 645 6.250 - 6.499 279 67,861,650 12.05 6.324 357 81.02 648 6.500 - 6.749 244 54,327,152 9.65 6.556 357 82.03 632 6.750 - 6.999 1,876 476,291,238 42.04 6.587 355 79.84 646 45.04 95.00 14.67 40.95 319 72,977,535 12.96 6.876 357 83.08 624 7.000 - 7.249 94 18,570,238 3.30 7.065 357 83.06 609 7.250 - 7.499 183 34,814,502 6.18 7.322 357 84.33 605 7.500 - 7.749 151 29,173,807 5.18 7.558 357 84.19 595 7.750 - 7.999 1,327 280,678,234 24.77 7.493 355 81.43 619 42.08 94.40 12.75 40.97 175 35,371,917 6.28 7.861 357 84.21 597 8.000 - 8.249 43 6,556,749 1.16 8.087 357 81.81 574 8.250 - 8.499 61 8,438,891 1.50 8.319 357 84.15 567 8.500 - 8.749 30 5,485,273 0.97 8.534 357 82.47 558 8.750 - 8.999 713 100,206,095 8.85 8.503 325 85.83 601 57.26 93.38 24.14 40.22 42 6,151,156 1.09 8.874 356 82.20 538 9.000 - 9.249 21 2,763,610 0.49 9.048 356 78.21 556 9.250 - 9.499 9 1,167,880 0.21 9.406 357 85.69 539 9.500 - 9.749 2 233,794 0.04 9.501 356 83.39 534 9.750 - 9.999 641 50,735,561 4.48 9.639 244 92.92 633 44.97 96.03 68.42 40.14 4 596,093 0.11 9.878 357 85.55 541 10.000 - 10.999 672 39,750,241 3.51 10.668 186 98.05 648 31.73 98.60 96.34 41.76 11.000 10.249 1 215,514 0.04 10.000 355 90.00 528 10.500 - 11.999 210 8,199,831 0.72 11.711 186 98.08 630 50.58 98.66 97.06 41.47 12.000 - 12.999 207 8,405,243 0.74 12.673 179 99.44 629 52.59 95.82 100.00 41.78 13.000 - 13.999 2 35,169 0.00 13.492 176 100.00 626 51.11 100.00 100.00 45.13 ------------------------------------------------------------------------------------------------------------------------------------ 10.749 1 47,543 0.01 10.500 357 85.00 536 Total: 6,228 1,132,909,507 2,462 563,250,550 100.00 7.217 339 82.15 639 48.18 95.04 20.13 40.69 ------------------------------------------------------------------------------------------------------------------------------------ 6.552 357 81.66 632 --------------------------------------------------------------------------------------------------------------------- Minimum: 4.875 4.625 Maximum: 13.875 10.500 Weighted Average: 7.2176.552 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. 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Range of Gross Interest. Rates (%) ------------------------------------------------------------------------------------------------------------------------------------ ---------------------------------- -------- ----------- --------- -------- --------- -------- -------- ------ % of Mortgage Aggregate Pool by Weighted Weighted Cut-off Aggregate Average Weighted Average Non-Zero Number Date Cut-off Gross Average Original Weighted of Principal Date Interest Remaining Combined Average Pct Pct Pct Weighted Range of Gross Mortgage Balance Principal Rate Term LTV FICO Full Owner Fixed Average Interest Rates (%) Loans ($) Balance (%) (Months) (%) Score Doc Occ Rate DTI ------------------------------------------------------------------------------------------------------------------------------------ ---------------------------------- -------- ----------- --------- -------- --------- -------- -------- ------ 4.000 - 4.999 12 3,408,055 0.30 4.986 358 79.55 718 67.74 95.04 0.00 38.46 33 10,617,627 1.08 4.990 357 80.85 685.8 52.22 5.000 - 5.999 568 165,199,842 14.58 5.757 843 251,675,165 25.51 5.718 356 79.06 676 66.32 95.90 5.30 39.60 79.72 662.5 53.17 6.000 - 6.999 1,876 476,291,238 42.04 6.587 1,647 412,630,028 41.82 6.550 355 79.84 646 45.04 95.00 14.67 40.95 80.68 645.8 39.62 7.000 - 7.999 1,327 280,678,234 24.77 7.493 869 177,057,959 17.95 7.488 355 81.43 619 42.08 94.40 12.75 40.97 81.03 609.6 43.40 8.000 - 8.999 713 100,206,095 8.85 8.503 325 85.83 601 57.26 93.38 24.14 40.22 456 54,625,203 5.54 8.486 311 87.62 609.4 56.98 9.000 - 9.999 641 50,735,561 4.48 9.639 244 92.92 633 44.97 96.03 68.42 40.14 610 41,100,774 4.17 9.728 204 96.56 657.2 36.56 10.000 - 10.999 672 39,750,241 3.51 10.668 186 98.05 648 31.73 98.60 96.34 41.76 513 31,876,164 3.23 10.640 178 99.09 643 30.54 11.000 - 11.999 210 8,199,831 0.72 11.711 186 98.08 630 50.58 98.66 97.06 41.47 145 6,706,286 0.68 11.508 177 98.94 629.5 31.87 12.000 - 12.999 207 8,405,243 0.74 12.673 179 99.44 629 52.59 95.82 100.00 41.78 11 342,431 0.03 12.766 182 98.85 637.5 44.14 13.000 - 13.999 2 35,169 1 25,260 0.00 13.492 13.125 176 100.00 626 51.11 608 100.00 100.00 45.13 ------------------------------------------------------------------------------------------------------------------------------------ ---------------------------------- -------- ----------- --------- -------- --------- -------- -------- ------ Total: 6,228 1,132,909,507 5,128 986,656,898 100.00 7.217 6.897 339 82.15 639 48.18 95.04 20.13 40.69 ------------------------------------------------------------------------------------------------------------------------------------ Minimum: 4.875 Maximum: 13.875 Weighted Average: 7.21782.27 642.2 44.38 ---------------------------------- -------- ----------- --------- -------- --------- -------- -------- ------

Range of Gross Interest. Rates (%) ------------------------------------------------------------------------------------------------------------------------------------ ---------------------------------- -------- ----------- --------- -------- --------- -------- -------- % of Mortgage Aggregate Pool by Aggregate Aggregate Weighted Weighted Weighted Number Cut-off Aggregate Average Weighted Average Non-Zero Number Date Cut-off Gross Average Original Average Average Weighted of Principal Date Interest Date Gross Remaining Combined Average Pct Pct Pct Weighted Range of Gross Mortgage Balance Principal Rate Principal Interest Term LTV Original FICO Full Owner Fixed Average Interest Rates (%) Loans Balance ($) Balance Rate (%) (Monthsmonths) (%) LTV Score Doc Occ Rate DTI ------------------------------------------------------------------------------------------------------------------------------------ ---------------------------------- -------- ----------- --------- -------- --------- -------- -------- 4.000 - 4.999 12 3,408,055 0.30 4.986 358 79.55 718 67.74 95.04 0.00 38.46 2 451,582 0.87 4.99 356 87 752 5.000 - 5.999 568 165,199,842 14.58 5.757 356 79.06 676 66.32 95.90 5.30 39.60 30 5,669,916 10.94 5.768 357 80.69 687 6.000 - 6.999 1,876 476,291,238 42.04 6.587 102 22,877,222 44.13 6.614 355 79.84 646 45.04 95.00 14.67 40.95 80.35 688 7.000 - 7.999 1,327 280,678,234 24.77 7.493 94 17,393,313 33.55 7.523 355 81.43 619 42.08 94.40 12.75 40.97 80.95 648 8.000 - 8.999 713 100,206,095 8.85 8.503 325 85.83 601 57.26 93.38 24.14 40.22 33 3,837,524 7.4 8.426 343 85.43 648 9.000 - 9.999 641 50,735,561 4.48 9.639 244 92.92 633 44.97 96.03 68.42 40.14 20 961,659 1.85 9.659 216 92.53 686 10.000 - 10.999 672 39,750,241 3.51 10.668 186 98.05 648 31.73 98.60 96.34 41.76 14 623,798 1.2 10.554 188 96.3 712 11.000 - 11.999 210 8,199,831 0.72 11.711 186 98.08 630 50.58 98.66 97.06 41.47 12.000 - 12.999 207 8,405,243 0.74 12.673 179 99.44 629 52.59 95.82 100.00 41.78 13.000 - 13.999 2 35,169 0.00 13.492 176 100.00 626 51.11 100.00 100.00 45.13 ------------------------------------------------------------------------------------------------------------------------------------ 1 31,129 0.06 11.5 177 100 692 ---------------------------------- -------- ----------- --------- -------- --------- -------- -------- Total: 6,228 1,132,909,507 100.00 7.217 339 82.15 639 48.18 95.04 20.13 40.69 ------------------------------------------------------------------------------------------------------------------------------------ 296 51,846,144 100 7.053 349 81.45 672 ---------------------------------- -------- ----------- --------- -------- --------- -------- -------- Minimum: 4.875 4.990 Maximum: 13.875 11.500 Weighted Average: 7.2177.053

Range of Gross Interest. Rates (%) ------------------------------------------------------------------------------------------------------------------------------------ ---------------------------------- -------- ----------- --------- -------- --------- -------- -------- % of Mortgage Aggregate Pool by Aggregate Aggregate Weighted Weighted Weighted Number Cut-off Aggregate Average Weighted Average Non-Zero Number Date Cut-off Gross Average Original Average Average Weighted of Principal Date Interest Date Gross Remaining Combined Average Pct Pct Pct Weighted Range of Gross Mortgage Balance Principal Rate Principal Interest Term LTV Original FICO Full Owner Fixed Average Interest Rates (%) Loans Balance ($) Balance Rate (%) (Monthsmonths) (%) LTV Score Doc Occ Rate DTI ------------------------------------------------------------------------------------------------------------------------------------ ---------------------------------- -------- ----------- --------- -------- --------- -------- -------- 4.000 - 4.999 12 3,408,055 0.30 4.986 358 79.55 718 67.74 95.04 0.00 38.46 15 5,073,124 0.92 4.99 357 82.15 700 5.000 - 5.999 568 165,199,842 14.58 5.757 366 117,852,491 21.48 5.771 356 79.06 676 66.32 95.90 5.30 39.60 78.87 670 6.000 - 6.999 1,876 476,291,238 42.04 6.587 920 249,154,677 45.4 6.562 355 79.84 646 45.04 95.00 14.67 40.95 79.95 658 7.000 - 7.999 1,327 280,678,234 24.77 7.493 355 81.43 619 42.08 94.40 12.75 40.97 439 100,214,797 18.26 7.452 356 79.46 628 8.000 - 8.999 713 100,206,095 8.85 8.503 325 85.83 601 57.26 93.38 24.14 40.22 163 23,498,933 4.28 8.501 317 85.98 620 9.000 - 9.999 641 50,735,561 4.48 9.639 244 92.92 633 44.97 96.03 68.42 40.14 382 26,074,857 4.75 9.779 191 97.17 681 10.000 - 10.999 672 39,750,241 3.51 10.668 186 98.05 648 31.73 98.60 96.34 41.76 336 22,141,560 4.03 10.641 177 99.25 655 11.000 - 11.999 210 8,199,831 0.72 11.711 186 98.08 630 50.58 98.66 97.06 41.47 86 4,569,287 0.83 11.592 177 99.49 642 12.000 - 12.999 207 8,405,243 0.74 12.673 179 99.44 629 52.59 95.82 100.00 41.78 13.000 - 13.999 2 35,169 0.00 13.492 5 191,272 0.03 12.813 176 100.00 626 51.11 100.00 100.00 45.13 ------------------------------------------------------------------------------------------------------------------------------------ 97.94 670 ---------------------------------- -------- ----------- --------- -------- --------- -------- -------- Total: 6,228 1,132,909,507 100.00 7.217 339 82.15 639 48.18 95.04 20.13 40.69 ------------------------------------------------------------------------------------------------------------------------------------ 2,712 548,770,998 100 6.985 338 81.67 655 ---------------------------------- -------- ----------- --------- -------- --------- -------- -------- Minimum: 4.875 4.990 Maximum: 13.875 12.875 Weighted Average: 7.2176.985

Range of Gross Interest. Rates (%) ------------------------------------------------------------------------------------------------------------------------------------ ---------------------------------- -------- ----------- --------- -------- --------- -------- -------- % of Mortgage Aggregate Pool by Aggregate Aggregate Weighted Weighted Weighted Number Cut-off Aggregate Average Weighted Average Non-Zero Number Date Cut-off Gross Average Original Average Average Weighted of Principal Date Interest Date Gross Remaining Combined Average Pct Pct Pct Weighted Range of Gross Mortgage Balance Principal Rate Principal Interest Term LTV Original FICO Full Owner Fixed Average Interest Rates (%) Loans Balance ($) Balance Rate (%) (Monthsmonths) (%) LTV Score Doc Occ Rate DTI ------------------------------------------------------------------------------------------------------------------------------------ ---------------------------------- -------- ----------- --------- -------- --------- -------- -------- 4.000 - 4.999 12 3,408,055 0.30 4.986 358 79.55 718 67.74 95.04 0.00 38.46 2 283,899 0.07 4.990 357 80.00 731 5.000 - 5.999 568 165,199,842 14.58 5.757 239 74,700,996 17.79 5.823 356 79.06 676 66.32 95.90 5.30 39.60 77.96 680 6.000 - 6.999 1,876 476,291,238 42.04 6.587 355 79.84 646 45.04 95.00 14.67 40.95 731 200,057,527 47.65 6.570 356 79.09 664 7.000 - 7.999 1,327 280,678,234 24.77 7.493 355 81.43 619 42.08 94.40 12.75 40.97 360 83,823,015 19.97 7.451 356 78.83 633 8.000 - 8.999 713 100,206,095 8.85 8.503 325 85.83 601 57.26 93.38 24.14 40.22 104 16,049,841 3.82 8.495 331 83.49 618 9.000 - 9.999 641 50,735,561 4.48 9.639 244 92.92 633 44.97 96.03 68.42 40.14 325 21,999,455 5.24 9.789 187 97.19 691 10.000 - 10.999 672 39,750,241 3.51 10.668 186 98.05 648 31.73 98.60 96.34 41.76 280 18,534,924 4.41 10.646 177 99.18 662 11.000 - 11.999 210 8,199,831 0.72 11.711 186 98.08 630 50.58 98.66 97.06 41.47 81 4,194,443 1.00 11.614 177 99.58 646 12.000 - 12.999 207 8,405,243 0.74 12.673 179 99.44 629 52.59 95.82 100.00 41.78 13.000 - 13.999 2 35,169 0.00 13.492 5 191,272 0.05 12.813 176 100.00 626 51.11 100.00 100.00 45.13 ------------------------------------------------------------------------------------------------------------------------------------ 97.94 670 ---------------------------------- -------- ----------- --------- -------- --------- -------- -------- Total: 6,228 1,132,909,507 2,127 419,835,371 100.00 7.217 339 82.15 639 48.18 95.04 20.13 40.69 ------------------------------------------------------------------------------------------------------------------------------------ 7.087 336 81.06 660 ---------------------------------- -------- ----------- --------- -------- --------- -------- -------- Minimum: 4.875 4.990 Maximum: 13.875 12.875 Weighted Average: 7.2177.087

Range of Gross Interest. Rates (%) ------------------------------------------------------------------------------------------------------------------------------------ ---------------------------------------------------------------------------------------------------------------------- % of Mortgage Aggregate Pool by Aggregate Aggregate Weighted Weighted Weighted Number Cut-off Aggregate Average Weighted Average Non-Zero Number Date Cut-off Gross Average Original Average Average Weighted of Principal Date Interest Date Gross Remaining Combined Average Pct Pct Pct Weighted Mortgage Principal Principal Interest Term Original FICO Range of Gross Mortgage Balance Principal Rate Term LTV FICO Full Owner Fixed Average Interest Rates (%) Loans Balance ($) Balance Rate (%) (Monthsmonths) (%) LTV Score Doc Occ Rate DTI ------------------------------------------------------------------------------------------------------------------------------------ 4.000 ---------------------------------------------------------------------------------------------------------------------- 4.500 - 4.749 3 957,250 0.13 4.625 357 74.15 671 4.750 - 4.999 12 3,408,055 0.30 4.986 358 79.55 718 67.74 95.04 0.00 38.46 34 10,764,833 1.44 4.871 355 78.16 684 5.000 - 5.249 37 9,012,252 1.21 5.121 355 78.02 680 5.250 - 5.499 105 31,759,270 4.25 5.321 354 77.91 662 5.500 - 5.749 152 40,396,550 5.41 5.553 349 78.06 659 5.750 - 5.999 568 165,199,842 14.58 5.757 356 79.06 676 66.32 95.90 5.30 39.60 436 113,601,358 15.20 5.893 354 80.17 658 6.000 - 6.249 200 50,972,357 6.82 6.087 349 79.52 648 6.250 - 6.499 365 84,524,915 11.31 6.324 355 80.05 648 6.500 - 6.749 331 71,318,232 9.54 6.554 354 81.27 635 6.750 - 6.999 1,876 476,291,238 42.04 6.587 443 95,588,870 12.79 6.876 355 79.84 646 45.04 95.00 14.67 40.95 81.57 624 7.000 - 7.249 125 22,975,920 3.07 7.076 353 82.66 612 7.250 - 7.499 232 42,065,377 5.63 7.323 354 83.91 607 7.500 - 7.749 193 34,751,885 4.65 7.556 353 83.93 597 7.750 - 7.999 1,327 280,678,234 24.77 7.493 224 41,466,546 5.55 7.863 355 81.43 619 42.08 94.40 12.75 40.97 84.18 598 8.000 - 8.249 55 8,135,459 1.09 8.091 356 81.42 580 8.250 - 8.499 103 11,568,331 1.55 8.311 328 86.60 591 8.500 - 8.749 55 7,725,066 1.03 8.532 332 84.68 581 8.750 - 8.999 713 100,206,095 8.85 8.503 325 85.83 601 57.26 93.38 24.14 40.22 132 13,576,965 1.82 8.853 292 88.89 605 9.000 - 9.249 31 3,491,562 0.47 9.048 333 81.25 574 9.250 - 9.499 44 3,557,900 0.48 9.315 266 92.64 626 9.500 - 9.749 41 2,692,653 0.36 9.516 212 95.84 650 9.750 - 9.999 641 50,735,561 4.48 9.639 244 92.92 633 44.97 96.03 68.42 40.14 106 7,553,861 1.01 9.894 199 95.73 648 10.000 - 10.249 14 1,055,076 0.14 10.023 213 97.24 627 10.250 - 10.499 42 2,609,024 0.35 10.279 177 99.55 653 10.500 - 10.749 74 4,580,522 0.61 10.505 179 98.96 647 10.750 - 10.999 672 39,750,241 3.51 10.668 186 98.05 648 31.73 98.60 96.34 41.76 341 21,934,420 2.93 10.866 177 98.98 655 11.000 - 11.249 7 269,343 0.04 11.012 177 98.81 666 11.250 - 11.499 29 1,171,717 0.16 11.262 191 97.89 626 11.500 - 11.749 7 256,555 0.03 11.552 177 96.94 640 11.750 - 11.999 210 8,199,831 0.72 11.711 186 98.08 59 2,195,021 0.29 11.933 177 99.54 630 50.58 98.66 97.06 41.47 12.000 - 12.249 9 310,054 0.04 12.118 175 100.00 626 12.250 - 12.499 4 91,000 0.01 12.378 175 99.08 601 12.500 - 12.749 18 758,898 0.10 12.531 182 98.77 664 12.750 - 12.999 207 8,405,243 0.74 12.673 179 99.44 629 52.59 95.82 100.00 41.78 95 3,558,565 0.48 12.859 177 99.53 633 13.000 - 13.999 2 35,169 13.249 1 32,677 0.00 13.492 13.125 176 95.00 669 13.250 - 13.499 3 107,700 0.01 13.361 177 100.00 626 51.11 100.00 100.00 45.13 ------------------------------------------------------------------------------------------------------------------------------------ 634 Total: 6,228 1,132,909,507 4,150 747,387,982 100.00 7.217 339 82.15 639 48.18 95.04 20.13 40.69 ------------------------------------------------------------------------------------------------------------------------------------ 6.876 340 82.39 635 ---------------------------------------------------------------------------------------------------------------------- Minimum: 4.875 4.625 Maximum: 13.875 13.490 Weighted Average: 7.2176.876 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 reliaxxx. Xoxxxx Xxanley makes no represexxxxxxn xx xxxranty with respect to txx xxxuxxxx xx 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. 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Morgan Stanley is acting as the lead underwriter and not acting as axxxx xox xxx xssuer 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 xxxxxx xx Xxx Securities and Xxxxxex Xxxxxrity, and by Morgan Stanley Japan Ltd. We recommend that such investors obtain thx xxxxcx xx xxeir Morgan Stanley, Morgan Stanley International or Morgan Stanley Japan Xxx. rxxxxxxxxxxxxx xxxxx xxx investments concexxxx. NXX XXX DISTRIBUTION TO PRIVATE CUSTOMERS AS DEFINED BY THE U.K. SECURITIES AND FUTURES AUTHORITY. MORGAN STANLEY MSAC 2004-WMC1 Adjustable Rate Population Selection Criteria: Adjustable Rate Population Table of Contents

Range of Gross Interest. Rates (%) ------------------------------------------------------------------------------------------------------------------------------------ ---------------------------------- -------- ----------- --------- -------- --------- -------- -------- % of Mortgage Aggregate Pool by Aggregate Aggregate Weighted Weighted Weighted Number Cut-off Aggregate Average Weighted Average Non-Zero Number Date Cut-off Gross Average Original Average Average Weighted of Principal Date Interest Date Gross Remaining Combined Average Pct Pct Pct Weighted Range of Gross Mortgage Balance Principal Rate Principal Interest Term LTV Original FICO Full Owner Fixed Average Interest Rates (%) Loans Balance ($) Balance Rate (%) (Monthsmonths) (%) LTV Score Doc Occ Rate DTI ------------------------------------------------------------------------------------------------------------------------------------ ---------------------------------- -------- ----------- --------- -------- --------- -------- -------- 4.000 - 4.999 12 3,408,055 0.30 4.986 358 79.55 718 67.74 95.04 0.00 38.46 18 7,028,515 1.24 4.990 357 80.89 687 5.000 - 5.999 568 165,199,842 14.58 5.757 356 79.06 676 66.32 95.90 5.30 39.60 566 186,495,271 33.03 5.712 357 79.88 663 6.000 - 6.999 1,876 476,291,238 42.04 6.587 355 79.84 646 45.04 95.00 14.67 40.95 775 234,268,049 41.49 6.515 356 80.09 647 7.000 - 7.999 1,327 280,678,234 24.77 7.493 248 69,286,513 12.27 7.488 355 81.43 619 42.08 94.40 12.75 40.97 79.02 608 8.000 - 8.999 713 100,206,095 8.85 8.503 325 85.83 601 57.26 93.38 24.14 40.22 158 22,007,190 3.90 8.477 283 88.93 631 9.000 - 9.999 641 50,735,561 4.48 9.639 244 92.92 633 44.97 96.03 68.42 40.14 310 24,737,782 4.38 9.753 189 97.69 671 10.000 - 10.999 672 39,750,241 3.51 10.668 186 98.05 648 31.73 98.60 96.34 41.76 269 20,616,794 3.65 10.643 177 99.06 640 11.000 - 11.999 210 8,199,831 0.72 11.711 186 98.08 630 50.58 98.66 97.06 41.47 12.000 - 12.999 207 8,405,243 0.74 12.673 179 99.44 629 52.59 95.82 1 179,715 0.03 11.625 175 100.00 41.78 13.000 - 13.999 2 35,169 0.00 13.492 176 100.00 626 51.11 100.00 100.00 45.13 ------------------------------------------------------------------------------------------------------------------------------------ 669 ---------------------------------- -------- ----------- --------- -------- --------- -------- -------- Total: 6,228 1,132,909,507 2,345 564,619,829 100.00 7.217 6.721 339 82.15 639 48.18 95.04 20.13 40.69 ------------------------------------------------------------------------------------------------------------------------------------ 81.72 648 ---------------------------------- -------- ----------- --------- -------- --------- -------- -------- Minimum: 4.875 4.990 Maximum: 13.875 11.625 Weighted Average: 7.2176.721

Range of Gross Interest. Rates (%) ------------------------------------------------------------------------------------------------------------------------------------ ---------------------------------- -------- ----------- --------- -------- --------- -------- -------- % of Mortgage Aggregate Pool by Aggregate Aggregate Weighted Weighted Weighted Number Cut-off Aggregate Average Weighted Average Non-Zero Number Date Cut-off Gross Average Original Average Average Weighted of Principal Date Interest Date Gross Remaining Combined Average Pct Pct Pct Weighted Range of Gross Mortgage Balance Principal Rate Principal Interest Term LTV Original FICO Full Owner Fixed Average Interest Rates (%) Loans Balance ($) Balance Rate (%) (Monthsmonths) (%) LTV Score Doc Occ Rate DTI ------------------------------------------------------------------------------------------------------------------------------------ ---------------------------------- -------- ----------- --------- -------- --------- -------- -------- 4.000 - 4.999 12 3,408,055 0.30 4.986 358 79.55 718 67.74 95.04 0.00 38.46 8 1,988,351 2.05 4.99 357 80.27 684 5.000 - 5.999 568 165,199,842 14.58 5.757 356 79.06 676 66.32 95.90 5.30 39.60 204 50,748,804 52.37 5.678 357 80.64 687 6.000 - 6.999 1,876 476,291,238 42.04 6.587 355 79.84 646 45.04 95.00 14.67 40.95 162 39,180,990 40.43 6.475 357 82.2 683 7.000 - 7.999 1,327 280,678,234 24.77 7.493 355 81.43 619 42.08 94.40 12.75 40.97 21 4,748,801 4.9 7.374 357 82.81 669 8.000 - 8.999 713 100,206,095 8.85 8.503 325 85.83 601 57.26 93.38 24.14 40.22 9.000 - 9.999 641 50,735,561 4.48 9.639 244 92.92 633 44.97 96.03 68.42 40.14 10.000 - 10.999 672 39,750,241 3.51 10.668 186 98.05 648 31.73 98.60 96.34 41.76 11.000 - 11.999 210 8,199,831 0.72 11.711 186 98.08 630 50.58 98.66 97.06 41.47 12.000 - 12.999 207 8,405,243 0.74 12.673 179 99.44 629 52.59 95.82 100.00 41.78 13.000 - 13.999 2 35,169 0.00 13.492 176 100.00 626 51.11 100.00 100.00 45.13 ------------------------------------------------------------------------------------------------------------------------------------ 1 244,000 0.25 8.975 356 80 638 ---------------------------------- -------- ----------- --------- -------- --------- -------- -------- Total: 6,228 1,132,909,507 100.00 7.217 339 82.15 639 48.18 95.04 20.13 40.69 ------------------------------------------------------------------------------------------------------------------------------------ 396 96,910,946 100 6.077 357 81.37 684 ---------------------------------- -------- ----------- --------- -------- --------- -------- -------- Minimum: 4.875 4.990 Maximum: 13.875 8.975 Weighted Average: 7.2176.077