8-K 1 ms809219-8k.txt CURRENT REPORT UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 OR 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported) December 1, 2004 ------------------------------- Morgan Stanley ABS Capital I Inc. (as depositor under the Pooling and Servicing Agreement, dated as of September 1, 2003, relating to the Morgan Stanley ABS Capital I Inc. Trust Mortgage Pass-Through Certificates Series 2003-NC8) -------------------------------------------------------------------------------- (Exact name of registrant as specified in its charter) Delaware 333-104046-12 13-3939229 ------------------------------------------------------------------------------- (State or other (Commission (IRS Employer jurisdiction of File Number) Identification No.) incorporation) 1585 Broadway, New York, New York 10036 -------------------------------------------------------------------------------- (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code (212) 296-7000 ---------------------------- Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: [ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) [ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) [ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) [ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) ITEM 8.01. Other Events ------------ On December 1, 2004, The Provident Bank ("Provident") resigned as servicer under the Pooling and Servicing Agreement (as defined below), and Litton Loan Servicing LP ("Litton") was appointed as successor servicer thereunder. In connection with such resignation and succession, the Registrant, Provident, Litton and Deutsche Bank National Trust Company, as trustee (the "Trustee"), entered into a Servicer Resignation, Appointment, Assumption and Amendment Agreement, dated as of December 1, 2004 ("Amendment"), which Amendment, among other things, amends certain provisions of the Pooling and Servicing Agreement, dated as of September 1, 2003 (the "Pooling and Servicing Agreement"), by and among the Registrant, Provident and the Trustee relating to the Morgan Stanley ABS Capital I Inc. Trust Mortgage Pass-Through Certificates, Series 2003-NC8. Item 9.01. Financial Statements, Pro Forma Financial Information and Exhibits. ------------------------------------------------------------------- (c) Exhibits Exhibit 4 The Servicer Resignation, Appointment, Assumption and Amendment Agreement, dated as of December 1, 2004, by and among the Registrant, as depositor, The Provident Bank, as servicer, Litton Loan Servicing LP, as successor servicer, and Deutsche Bank National Trust Company, as trustee. Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. MORGAN STANLEY ABS CAPITAL I INC. January 12, 2005 By: /s/ Valerie Kay -------------------------------- Name: Valerie Kay Title: Executive Director INDEX TO EXHIBITS Item 601(a) of Regulation S-K Paper (P) or Exhibit No. Description Electronic (E) ----------- ----------- -------------- 4 The Servicer Resignation, E Appointment, Assumption and Amendment Agreement, dated as of December 1, 2004, by and among the Registrant, as depositor, The Provident Bank, as servicer, Litton Loan Servicing LP, as successor servicer, and Deutsche Bank National Trust Company, as trustee.

SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K Current Report Pursuant To Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): December 26, 2003 MORGAN STANLEY ABS CAPITAL I INC. (as Depositor, The Provident Bank as Servicer, NC Capital Corporation, as Responsible Party and Deutsche Bank National Trust Company, as Trustee MORGAN STANLEY ABS CAPITAL I INC (Exact name of Registrant as specified in its Charter) DELAWARE (State or Other Jurisdiction of Incorporation) 333-104046-12 13-3939229 (Commission File Number) (I.R.S. Employer Identification No.) 1585 BROADWAY, 2ND FLOOR NEW YORK, NEW YORK 10036 (Address of principal executive offices) (Zip Code) Registrant's Telephone Number, Including Area Code: (212) 761-4000 Item 5. Other Events Attached hereto is a copy of the Monthly Remittance Statements to the Certificateholders which was derived from the monthly information submitted by the Master Servicer of the Trust to the Trustee. Item 7. Financial Statement and Exhibits Exhibits: (as noted in Item 5 above) Monthly Remittance Statement to the Certificateholders dated as of December 26, 2003. SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized. Deutsche Bank National Trust Company, not in its individual capacity, but solely as a duly authorized agent of the Registrant pursuant to the Pooling and Servicing Agreement, dated as of September 1,2003. Date: Jan 02, 2004 By: /s/ Katherine M. Wannenmacher Katherine M. Wannenmacher Vice President EXHIBIT INDEX DOCUMENT Monthly Remittance Statement to the Certificateholders dated as of December 26, 2003.

	Morgan Stanley ABS Capital I Inc. 2003-NC8
	Mortgage Pass-Through Certificates
	December 26, 2003 Distribution
	Contents
			TABLE OF CONTENTS
								Page
			1.	Contents				1
			2.	Certificate Payment Report				2
			3.	Collection Account Report				4
			4.	Credit Enhancement Report				7
			5.	Collateral Report				8
			6.	Delinquency Report				11
			7.	REO Report				14
			8.	Foreclosure Report				15
			9.	Prepayment Report				16
			10.	Prepayment Detail Report				19
			11.	Realized Loss Report				21
			12.	Realized Loss Detail Report				24
			13.	Triggers, Adj. Rate Cert. and Miscellaneous Report				25
				Total Number of Pages				25
			CONTACTS
				Administrator: Jeremy Conyers
				Direct Phone Number: (714)247-6274
				Address: Deutsche Bank
				1761 E. St. Andrew Place, Santa Ana, CA 92705
				Web Site: https://www.corporatetrust.db.com/invr
				Factor Information: (800) 735-7777
				Main Phone Number: (714) 247-6000
ISSUANCE INFORMATION
	Seller:		Morgan Stanley					Cut-Off Date: September 1, 2003
	Certificate Insurer(s):							Closing Date: September 25, 2003
								First Payment Date: October 27, 2003
	Servicer(s):		Provident Bank Master Servicer
								Distribution Date: December 26, 2003
	Underwriter(s):		Morgan Stanley Dean Witter					Record Date: December 24, 2003
								November 28, 2003
						Page 1 of 25					© COPYRIGHT 2003 Deutsche Bank
	Morgan Stanley ABS Capital I Inc. 2003-NC8
	Mortgage Pass-Through Certificates
	REMIC II Series 2003-NC8
	Certificate Payment Report for December 26, 2003 Distribution
	Distribution in Dollars - Current Period
					Prior						Current
	Class	Original			Principal			Total	Realized	Deferred	Principal
Class	Type	Face Value			Balance	Interest	Principal	Distribution	Losses	Interest	Balance
					(1)	(2)	(3)	(4)=(2)+(3)	(5)	(6)	(7)=(1)-(3)-(5)+(6)
A1	FLT, STEP	708,882,000.00			695,774,694.43	927,917.02	10,680,396.46	11,608,313.48	-	-	685,094,297.97
A2	FLT, STEP	386,901,000.00			378,670,176.84	482,186.51	3,842,563.28	4,324,749.79	-	-	374,827,613.56
M1	MEZ, FLT,ST	87,118,000.00			87,118,000.00	136,439.49	-	136,439.49	-	-	87,118,000.00
M2	MEZ, FLT,ST	71,464,000.00			71,464,000.00	176,538.41	-	176,538.41	-	-	71,464,000.00
M3	MEZ, FLT,ST	23,822,000.00			23,822,000.00	66,027.47	-	66,027.47	-	-	23,822,000.00
B1	SUB, FLT,ST	20,418,000.00			20,418,000.00	82,965.85	-	82,965.85	-	-	20,418,000.00
B2	SUB, FLT,ST	14,293,000.00			14,293,000.00	59,923.90	-	59,923.90	-	-	14,293,000.00
B3	SUB, FLT,ST	17,696,000.00			17,696,000.00	74,191.09	-	74,191.09	-	-	17,696,000.00
X	SUB	30,627,758.00			30,627,489.48	5,761,278.77	-	5,761,278.77	-	-	30,627,489.48
P	SUB,EXE	-			-	277,179.63	-	277,179.63	-	-	-
R	R	-			-	-	-	-	-	-	-
Total		1,361,221,758.00			1,339,883,360.75	8,044,648.14	14,522,959.74	22,567,607.88	-	-	1,325,360,401.01
	Interest Accrual Detail				Current Period Factor Information per $1,000 of Original Face
						Orig. Principal	Prior				Current
	Period	Period				(with Notional)	Principal			Total	Principal
Class	Starting	Ending		Method	Cusip	Balance	Balance	Interest	Principal	Distribution	Balance
							(1)	(2)	(3)	(4)=(2)+(3)	(5)
A1	11/25/03	12/25/03		A-Act/360	61746RDK4	708,882,000.00	981.509891	1.308987	15.066536	16.375523	966.443354
A2	11/25/03	12/25/03		A-Act/360	61746RDL2	386,901,000.00	978.726281	1.246279	9.931645	11.177924	968.794636
M1	11/25/03	12/25/03		A-Act/360	61746RDM0	87,118,000.00	1,000.000000	1.566146	-	1.566146	1,000.000000
M2	11/25/03	12/25/03		A-Act/360	61746RDN8	71,464,000.00	1,000.000000	2.470312	-	2.470312	1,000.000000
M3	11/25/03	12/25/03		A-Act/360	61746RDP3	23,822,000.00	1,000.000000	2.771701	-	2.771701	1,000.000000
B1	11/25/03	12/25/03		A-Act/360	61746RDQ1	20,418,000.00	1,000.000000	4.063368	-	4.063368	1,000.000000
B2	11/25/03	12/25/03		A-Act/360	61746RDR9	14,293,000.00	1,000.000000	4.192535	-	4.192535	1,000.000000
B3	11/25/03	12/25/03		A-Act/360	61746RDS7	17,696,000.00	1,000.000000	4.192534	-	4.192534	1,000.000000
X				A-Act/360		30,627,758.00	999.991233	188.106448	-	188.106448	999.991233
P				A-Act/360		-	-	-	-	-	-
R				A-Act/360		-	-	-	-	-	-
							Page 2 of 25				© COPYRIGHT 2003 Deutsche Bank
	Morgan Stanley ABS Capital I Inc. 2003-NC8
	Mortgage Pass-Through Certificates
	REMIC II Series 2003-NC8
	Certificate Payment Report for December 26, 2003 Distribution
	Distribution in Dollars - to Date
											Current
	Original				Unscheduled	Scheduled	Total	Total	Realized	Deferred	Principal
Class	Face Value		Interest		Principal	Principal	Principal	Distribution	Losses	Interest	Balance
	(1)		(2)		(3)	(4)	(5)=(3)+(4)	(6)=(2)+(5)	(7)	(8)	(9)=(1)-(5)-(7)+(8)
A1	708,882,000.00		2,783,231.21		21,614,257.21	2,173,444.81	23,787,702.03	26,570,933.24	-	-	685,094,297.97
A2	386,901,000.00		1,447,206.21		10,910,488.34	1,162,898.11	12,073,386.44	13,520,592.65	-	-	374,827,613.56
M1	87,118,000.00		405,101.72		0.00	-	-	405,101.72	-	-	87,118,000.00
M2	71,464,000.00		524,071.81		-	-	-	524,071.81	-	-	71,464,000.00
M3	23,822,000.00		196,002.95		-	-	-	196,002.95	-	-	23,822,000.00
B1	20,418,000.00		246,264.47		-	-	-	246,264.47	-	-	20,418,000.00
B2	14,293,000.00		177,868.94		-	-	-	177,868.94	-	-	14,293,000.00
B3	17,696,000.00		220,217.50		-	-	-	220,217.50	-	-	17,696,000.00
X	30,627,758.00		17,498,297.35		237.83	30.69	268.52	17,498,565.87	-	-	30,627,489.48
P	-		489,149.73		-	-	-	489,149.73	-	-	-
R	-		-		-	-	-	-	-	-	-
Total	1,361,221,758.00		23,987,411.89		32,524,983.38	3,336,373.61	35,861,356.99	59,848,768.88	-	-	1,325,360,401.01
	Interest Detail
	Pass-	Prior Principal				Non-	Prior	Unscheduled		Paid or	Current
	Through	(with Notional)			Accrued	Supported	Unpaid	Interest	Optimal	Deferred	Unpaid
Class	Rate	Balance			Interest	Interest SF	Interest	Adjustments	Interest	Interest	Interest
					(1)	(2)	(3)	(4)	(5)=(1)-(2)+(3)+(4)	(6)	(7)=(5)-(6)
A1	1.54875%	695,774,694.43			927,917.02	-	-	-	927,917.02	927,917.02	-
A2	1.47875%	378,670,176.84			482,186.51	-	-	-	482,186.51	482,186.51	-
M1	1.81875%	87,118,000.00			136,439.49	-	-	-	136,439.49	136,439.49	-
M2	2.86875%	71,464,000.00			176,538.41	-	-	-	176,538.41	176,538.41	-
M3	3.21875%	23,822,000.00			66,027.47	-	-	-	66,027.47	66,027.47	-
B1	4.71875%	20,418,000.00			82,965.85	-	-	-	82,965.85	82,965.85	-
B2	4.86875%	14,293,000.00			59,923.90	-	-	-	59,923.90	59,923.90	-
B3	4.86875%	17,696,000.00			74,191.09	-	-	-	74,191.09	74,191.09	-
X	5.15980%	30,627,489.48			5,761,278.77	-	-	-	5,761,278.77	5,761,278.77	-
P		-			277,179.63	-	-	-	277,179.63	277,179.63	-
R		-			-	-	-	-	-	-	-
Total		1,339,883,360.75			8,044,648.14	-	-	-	8,044,648.14	8,044,648.14	-
							Page 3 of 25				© COPYRIGHT 2003 Deutsche Bank
	Morgan Stanley ABS Capital I Inc. 2003-NC8
	Mortgage Pass-Through Certificates
	Collection Account Report for December 26, 2003 Distribution
	Collection Account Report
SUMMARY						GROUP 2	GROUP 1	TOTAL
	Principal Collections					3,842,563.28	10,680,396.46	14,522,959.74
	Principal Other Accounts					0.00	0.00	0.00
	TOTAL NET PRINCIPAL					3,842,563.28	10,680,396.46	14,522,959.74
	Interest Collections					2,843,868.71	5,172,357.88	8,016,226.59
	Interest Withdrawals					0.00	0.00	0.00
	Interest Other Accounts					0.00	0.00	0.00
	Interest Fees					(90,654.92)	(158,103.16)	(248,758.08)
	TOTAL NET INTEREST					2,753,213.79	5,014,254.72	7,767,468.51
	TOTAL PRINCIPAL & INTEREST DISTRIBUTABLE					6,595,777.07	15,694,651.18	22,290,428.25
	Prepayment Penalties Collected							277,179.63
	TOTAL AVAILABLE FUNDS FOR DISTRIBUTION							22,567,607.88
PRINCIPAL - COLLECTIONS						GROUP 2	GROUP 1	TOTAL
	Scheduled Principal Received					417,380.93	727,689.36	1,145,070.29
	Prepayments In Full					3,407,935.54	9,927,043.83	13,334,979.37
	Curtailments					17,246.81	25,663.27	42,910.08
	Liquidations					0.00	0.00	0.00
	Insurance Principal					0.00	0.00	0.00
	Repurchased Principal Amounts					0.00	0.00	0.00
	Other Principal					0.00	0.00	0.00
	Total Realized Loss Of Principal					0.00	0.00	0.00
	Delinquent Principal					(222,870.68)	(407,361.40)	(630,232.08)
	Advanced Principal					222,870.68	407,361.40	630,232.08
	TOTAL PRINCIPAL COLLECTED					3,842,563.28	10,680,396.46	14,522,959.74
				Page 4 of 25				© COPYRIGHT 2003 Deutsche Bank
	Morgan Stanley ABS Capital I Inc. 2003-NC8
	Mortgage Pass-Through Certificates
	Collection Account Report for December 26, 2003 Distribution
	Collection Account Report
PRINCIPAL - WITHDRAWALS						GROUP 2	GROUP 1	TOTAL
SPACE INTENTIONALLY LEFT BLANK
PRINCIPAL - OTHER ACCOUNTS						GROUP 2	GROUP 1	TOTAL
SPACE INTENTIONALLY LEFT BLANK
INTEREST - COLLECTIONS						GROUP 2	GROUP 1	TOTAL
	Scheduled Interest					2,951,342.95	5,378,094.98	8,329,437.93
	Liquidation Interest					0.00	0.00	0.00
	Repurchased Interest					0.00	0.00	0.00
	Insurance Interest					0.00	0.00	0.00
	Other Interest					0.00	0.00	0.00
	Relief Act Interest Shortfalls					0.00	0.00	0.00
	Net Prepayment Interest Shortfalls					0.00	0.00	0.00
	Delinquent Interest					(1,632,749.81)	(3,115,687.73)	(4,748,437.54)
	Interest Advanced					1,525,275.57	2,909,950.63	4,435,226.20
	TOTAL INTEREST COLLECTED					2,843,868.71	5,172,357.88	8,016,226.59
				Page 5 of 25				© COPYRIGHT 2003 Deutsche Bank
	Morgan Stanley ABS Capital I Inc. 2003-NC8
	Mortgage Pass-Through Certificates
	Collection Account Report for December 26, 2003 Distribution
	Collection Account Report
INTEREST - WITHDRAWALS						GROUP 2	GROUP 1	TOTAL
	Trust Fund Expenses							0.00
	Nonrecoverable Advances							0.00
	Reimbursements to Master Servicer							0.00
	TOTAL INTEREST WITHDRAWALS							0.00
INTEREST - OTHER ACCOUNTS						GROUP 2	GROUP 1	TOTAL
	TOTAL INTEREST OTHER ACCOUNTS					0.00	0.00	0.00
INTEREST - FEES						GROUP 2	GROUP 1	TOTAL
	Current Servicing Fees					89,355.84	155,717.56	245,073.40
	Trustee Fees					1,299.08	2,385.60	3,684.68
	TOTAL INTEREST OTHER FEES					90,654.92	158,103.16	248,758.08
				Page 6 of 25				© COPYRIGHT 2003 Deutsche Bank
	Morgan Stanley ABS Capital I Inc. 2003-NC8
	Mortgage Pass-Through Certificates
	Credit Enhancement Report for December 26, 2003 Distribution
	Credit Enhancement Report
ACCOUNTS						GROUP 2	GROUP 1	TOTAL
	Excess Reserve Fund Balance (Ending)							0.00
INSURANCE						GROUP 2	GROUP 1	TOTAL
SPACE INTENTIONALLY LEFT BLANK
STRUCTURAL FEATURES						GROUP 2	GROUP 1	TOTAL
	Beginning Subordinated Amount							30,627,489.56
	Ending Subordinated Amount							30,627,489.56
	Specified Subordinated Amount							30,627,489.56
	Senior Enhancement Percentage							20.03%
				Page 7 of 25				© COPYRIGHT 2003 Deutsche Bank
	Morgan Stanley ABS Capital I Inc. 2003-NC8
	Mortgage Pass-Through Certificates
	Collateral Report for December 26, 2003 Distribution
	Collateral Report
COLLATERAL						GROUP 2	GROUP 1	TOTAL
	Loan Count:
	Original					2798	5542	8340
	Prior					2,767	5,470	8,237
	Prefunding					-	-	-
	Scheduled Paid Offs					-	-	-
	Full Voluntary Prepayments					(13)	(54)	(67)
	Repurchases					-	-	-
	Liquidations					-	-	-
	Current					2,754	5,416	8,170
	Principal Balance:
	Original					480,541,365.15	880,477,769.88	1,361,019,135.03
	Prior					472,392,171.58	867,491,189.25	1,339,883,360.83
	Prefunding					-	-	-
	Scheduled Principal					(417,380.93)	(727,689.36)	(1,145,070.29)
	Partial and Full Voluntary Prepayments					(3,425,182.35)	(9,952,707.10)	(13,377,889.45)
	Repurchases					-	-	-
	Liquidations					-	-	-
	Current					468,549,608.30	856,810,792.79	1,325,360,401.09
PREFUNDING						GROUP 2	GROUP 1	TOTAL
	Closing Date Deposit Amount					0.00	0.00	0.00
	Group 1
	Group 2
Current Prin Balance by Groups (in millions of dollars)					Total Current Principal Balance (in millions of dollars)
				Page 8 of 25				© COPYRIGHT 2003 Deutsche Bank
	Morgan Stanley ABS Capital I Inc. 2003-NC8
	Mortgage Pass-Through Certificates
	Collateral Report for December 26, 2003 Distribution
	Collateral Report
CHARACTERISTICS						GROUP 2	GROUP 1	TOTAL
	Weighted Average Coupon Original					7.500342%	7.442099%	7.462663%
	Weighted Average Coupon Prior					7.499935%	7.440833%	7.461657%
	Weighted Average Coupon Current					7.497185%	7.439515%	7.459847%
	Weighted Average Months to Maturity Original					345	355	351
	Weighted Average Months to Maturity Prior					344	354	350
	Weighted Average Months to Maturity Current					341	352	348
	Weighted Avg Remaining Amortization Term Original					345	354	351
	Weighted Avg Remaining Amortization Term Prior					344	353	350
	Weighted Avg Remaining Amortization Term Current					342	352	349
	Weighted Average Seasoning Original					3.18	3.17	3.17
	Weighted Average Seasoning Prior					4.18	4.16	4.17
	Weighted Average Seasoning Current					5.19	5.16	5.17
Note: Original information refers to deal issue.
	Group 1
	Group 2
WAC by Groups					Total WAC
WARAT by Groups					Total WARAT
Note: Dates correspond to distribution dates.
				Page 9 of 25				© COPYRIGHT 2003 Deutsche Bank
	Morgan Stanley ABS Capital I Inc. 2003-NC8
	Mortgage Pass-Through Certificates
	Collateral Report for December 26, 2003 Distribution
	Collateral Report
ARM CHARACTERISTICS						GROUP 2	GROUP 1	TOTAL
	Weighted Average Margin Original					3.534%	4.792%
	Weighted Average Margin Prior					3.522%	4.791%
	Weighted Average Margin Current					3.521%	4.787%
	Weighted Average Max Rate Original					9.061%	12.316%
	Weighted Average Max Rate Prior					9.028%	12.308%
	Weighted Average Max Rate Current					9.025%	12.296%
	Weighted Average Min Rate Original					4.545%	6.368%
	Weighted Average Min Rate Prior					4.528%	6.364%
	Weighted Average Min Rate Current					4.526%	6.357%
	Weighted Average Cap Up Original					1.015%	1.283%
	Weighted Average Cap Up Prior					1.012%	1.282%
	Weighted Average Cap Up Current					1.012%	1.281%
	Weighted Average Cap Down Original					1.015%	1.283%
	Weighted Average Cap Down Prior					1.012%	1.282%
	Weighted Average Cap Down Current					1.012%	1.281%
Note: Original information refers to deal issue.
SERVICING FEES / ADVANCES						GROUP 2	GROUP 1	TOTAL
	Current Servicing Fees					89,355.84	155,717.56	245,073.40
	Delinquent Servicing Fees					107,474.24	205,737.10	313,211.34
	TOTAL SERVICING FEES					196,830.08	361,454.66	558,284.74
	Prepayment Interest Shortfall					13,101.30	26,110.88	39,212.18
	Compensating Interest					(13,101.30)	(26,110.88)	(39,212.18)
	Delinquent Servicing Fees					(107,474.24)	(205,737.10)	(313,211.34)
	COLLECTED SERVICING FEES					89,355.84	155,717.56	245,073.40
	Aggregate Advances with respect to this Distribution					1,748,146.25	3,317,312.03	5,065,458.28
	Current Nonrecoverable Advances					0.00	0.00	0.00
	Cumulative Nonrecoverable Advances					0.00	0.00	0.00
ADDITIONAL COLLATERAL INFORMATION						GROUP 2	GROUP 1	TOTAL
	Net Prepayment Interest Shortfall					0.00	0.00	0.00
	Net Monthly Excess Cash Flow							5,761,278.77
	Ending Pool Stated Principal Balance					468,549,608.30	856,810,792.79	1,325,360,401.09
				Page 10 of 25				© COPYRIGHT 2003 Deutsche Bank
	Morgan Stanley ABS Capital I Inc. 2003-NC8
	Mortgage Pass-Through Certificates
	Delinquency Report for December 26, 2003 Distribution
	Delinquency Report - Total
				<1 PAYMENT	1 PAYMENT	2 PAYMENTS	3+ PAYMENTS	TOTAL
DELINQUENT		Balance			12,170,724.56	3,604,770.57	164,379.48	15,939,874.61
		% Balance			0.92%	0.27%	0.01%	1.20%
		# Loans			87	28	1	116
		% # Loans			1.06%	0.34%	0.01%	1.42%
FORECLOSURE		Balance		-	-	4,613,160.42	1,124,061.77	5,737,222.19
		% Balance		0.00%	0.00%	0.35%	0.08%	0.43%
		# Loans		-	-	30	6	36
		% # Loans		0.00%	0.00%	0.37%	0.07%	0.44%
BANKRUPTCY		Balance		2,740,172.76	137,657.37	-	-	2,877,830.13
		% Balance		0.21%	0.01%	0.00%	0.00%	0.22%
		# Loans		19	1	-	-	20
		% # Loans		0.23%	0.01%	0.00%	0.00%	0.24%
REO		Balance		-	-	-	-	-
		% Balance		0.00%	0.00%	0.00%	0.00%	0.00%
		# Loans		-	-	-	-	-
		% # Loans		0.00%	0.00%	0.00%	0.00%	0.00%
TOTAL		Balance		2,740,172.76	12,308,381.93	8,217,930.99	1,288,441.25	24,554,926.93
		% Balance		0.21%	0.93%	0.62%	0.10%	1.85%
		# Loans		19	88	58	7	172
		% # Loans		0.23%	1.08%	0.71%	0.09%	2.11%
Note: <1 Payment = 0-30days, 1 Payment = 31-60days, 2 Payments = 61-90days, 3+ Payments = 91+
								6 Months Moving Average
1 or 2 Payments Delinquent					3 or More Payments Delinquent
Total Foreclosure					Total Bankruptcy and REO
Note: Dates correspond to distribution dates.
				Page 11 of 25				© COPYRIGHT 2003 Deutsche Bank
	Morgan Stanley ABS Capital I Inc. 2003-NC8
	Mortgage Pass-Through Certificates
	Delinquency Report for December 26, 2003 Distribution
	Delinquency Report - Group 1 Group
				<1 PAYMENT	1 PAYMENT	2 PAYMENTS	3+ PAYMENTS	TOTAL
DELINQUENT		Balance			8,092,408.97	2,310,931.21	-	10,403,340.18
		% Balance			0.94%	0.27%	0.00%	1.21%
		# Loans			50	18	-	68
		% # Loans			0.92%	0.33%	0.00%	1.26%
FORECLOSURE		Balance		-	-	3,419,800.43	252,831.70	3,672,632.13
		% Balance		0.00%	0.00%	0.40%	0.03%	0.43%
		# Loans		-	-	23	2	25
		% # Loans		0.00%	0.00%	0.42%	0.04%	0.46%
BANKRUPTCY		Balance		2,210,722.41	137,657.37	-	-	2,348,379.78
		% Balance		0.26%	0.02%	0.00%	0.00%	0.27%
		# Loans		14	1	-	-	15
		% # Loans		0.26%	0.02%	0.00%	0.00%	0.28%
REO		Balance		-	-	-	-	-
		% Balance		0.00%	0.00%	0.00%	0.00%	0.00%
		# Loans		-	-	-	-	-
		% # Loans		0.00%	0.00%	0.00%	0.00%	0.00%
TOTAL		Balance		2,210,722.41	8,230,066.34	5,730,731.64	252,831.70	16,424,352.09
		% Balance		0.26%	0.96%	0.67%	0.03%	1.92%
		# Loans		14	51	41	2	108
		% # Loans		0.26%	0.94%	0.76%	0.04%	1.99%
Note: <1 Payment = 0-30days, 1 Payment = 31-60days, 2 Payments = 61-90days, 3+ Payments = 91+
								6 Months Moving Average
1 or 2 Payments Delinquent					3 or More Payments Delinquent
Total Foreclosure					Total Bankruptcy and REO
Note: Dates correspond to distribution dates.
				Page 12 of 25				© COPYRIGHT 2003 Deutsche Bank
	Morgan Stanley ABS Capital I Inc. 2003-NC8
	Mortgage Pass-Through Certificates
	Delinquency Report for December 26, 2003 Distribution
	Delinquency Report - Group 2 Group
				<1 PAYMENT	1 PAYMENT	2 PAYMENTS	3+ PAYMENTS	TOTAL
DELINQUENT		Balance			4,078,315.59	1,293,839.36	164,379.48	5,536,534.43
		% Balance			0.87%	0.28%	0.04%	1.18%
		# Loans			37	10	1	48
		% # Loans			1.34%	0.36%	0.04%	1.74%
FORECLOSURE		Balance		-	-	1,193,359.99	871,230.07	2,064,590.06
		% Balance		0.00%	0.00%	0.25%	0.19%	0.44%
		# Loans		-	-	7	4	11
		% # Loans		0.00%	0.00%	0.25%	0.15%	0.40%
BANKRUPTCY		Balance		529,450.35	-	-	-	529,450.35
		% Balance		0.11%	0.00%	0.00%	0.00%	0.11%
		# Loans		5	-	-	-	5
		% # Loans		0.18%	0.00%	0.00%	0.00%	0.18%
REO		Balance		-	-	-	-	-
		% Balance		0.00%	0.00%	0.00%	0.00%	0.00%
		# Loans		-	-	-	-	-
		% # Loans		0.00%	0.00%	0.00%	0.00%	0.00%
TOTAL		Balance		529,450.35	4,078,315.59	2,487,199.35	1,035,609.55	8,130,574.84
		% Balance		0.11%	0.87%	0.53%	0.22%	1.74%
		# Loans		5	37	17	5	64
		% # Loans		0.18%	1.34%	0.62%	0.18%	2.32%
Note: <1 Payment = 0-30days, 1 Payment = 31-60days, 2 Payments = 61-90days, 3+ Payments = 91+
								6 Months Moving Average
1 or 2 Payments Delinquent					3 or More Payments Delinquent
Total Foreclosure					Total Bankruptcy and REO
Note: Dates correspond to distribution dates.
				Page 13 of 25				© COPYRIGHT 2003 Deutsche Bank
	Morgan Stanley ABS Capital I Inc. 2003-NC8
	Mortgage Pass-Through Certificates
	REO Report for December 26, 2003 Distribution
	REO Report - Mortgage Loans that Become REO During Current Distribution
SUMMARY				LOAN GROUP
Total Loan Count = 0				Loan Group 1 = Group 1 Group; REO Book Value = 000.00
Total Original Principal Balance = 000.00				Loan Group 2 = Group 2 Group; REO Book Value = 000.00
Total Current Balance = 000.00
REO Book Value = 000.00
REO Book Value reported corresponds to total REO loans, including loans that become REO during current distribution.
Loan Number		Original	Stated		Current	State &
&		Principal	Principal	Paid to	Note	LTV at	Original	Origination
Loan Group		Balance	Balance	Date	Rate	Origination	Term	Date
SPACE INTENTIONALLY LEFT BLANK
				Page 14 of 25				© COPYRIGHT 2003 Deutsche Bank
	Morgan Stanley ABS Capital I Inc. 2003-NC8
	Mortgage Pass-Through Certificates
	Foreclosure Report for December 26, 2003 Distribution
	Foreclosure Report - Mortgage Loans that Become Foreclosure During Current Distribution
SUMMARY				LOAN GROUP
Total Loan Count = 36				Loan Group 1 = Group 1 Group
Total Original Principal Balance = 5,759,330.00				Loan Group 2 = Group 2 Group
Total Current Balance = 5,737,222.19
Loan Number		Original	Stated		Current	State &
&		Principal	Principal	Paid to	Note	LTV at	Original	Origination
Loan Group		Balance	Balance	Date	Rate	Origination	Term	Date
890182 1		251,750.00	250,719.39	Aug-01-03	8.000%	CA - 95.00%	360	May-21-03
897305 1		110,500.00	110,157.03	Aug-01-03	8.450%	NV - 85.00%	360	Jun-24-03
904036 1		56,000.00	55,785.33	Aug-01-03	7.400%	NE - 80.00%	360	Jun-11-03
904769 1		155,000.00	154,583.37	Aug-01-03	9.150%	MI - 79.49%	360	Jun-10-03
905051 1		138,400.00	137,710.72	Aug-01-03	6.050%	CA - 80.00%	360	Jun-20-03
906635 1		91,600.00	91,418.69	Aug-01-03	10.600%	WI - 80.00%	360	Jun-16-03
911370 1		237,000.00	236,206.86	Aug-01-03	8.990%	CA - 67.71%	360	Jun-04-03
917060 1		124,000.00	123,221.15	Aug-01-03	5.800%	CA - 80.00%	360	Jun-02-03
919976 1		150,000.00	149,669.69	Jul-01-03	10.100%	FL - 71.43%	360	Jun-13-03
921445 1		186,000.00	184,910.04	Aug-01-03	7.250%	CA - 37.96%	360	Jun-06-03
921677 1		103,500.00	103,162.01	Jul-01-03	8.200%	KY - 90.00%	360	Jun-11-03
924334 1		45,000.00	44,922.59	Aug-01-03	11.250%	MI - 75.00%	360	Jun-16-03
925622 1		79,900.00	79,744.22	Aug-01-03	9.600%	IN - 85.00%	360	Jul-08-03
925735 1		40,000.00	39,863.70	Aug-01-03	7.990%	MO - 30.08%	360	Jun-11-03
926510 1		224,100.00	223,086.40	Aug-01-03	7.500%	NV - 90.00%	360	Jun-05-03
926642 1		189,000.00	188,423.70	Aug-01-03	9.450%	CA - 70.00%	360	Jun-04-03
928669 1		225,000.00	224,374.88	Aug-01-03	8.990%	CA - 68.18%	360	Jun-11-03
930822 1		101,600.00	101,287.84	Aug-01-03	8.500%	CA - 80.00%	360	Jun-17-03
931749 1		80,750.00	80,583.14	Aug-01-03	10.400%	IN - 85.00%	360	Jun-11-03
937823 1		78,200.00	77,947.18	Aug-01-03	8.250%	MI - 85.00%	360	Jun-11-03
938994 1		225,000.00	224,146.14	Aug-01-03	7.450%	CA - 75.00%	360	Jun-24-03
941457 1		207,000.00	206,007.64	Aug-01-03	6.250%	CA - 90.00%	360	Jun-24-03
943365 1		202,500.00	201,892.30	Aug-01-03	9.100%	MI - 75.00%	360	Jun-30-03
944416 1		121,500.00	121,043.45	Aug-01-03	7.500%	GA - 90.00%	360	Jun-30-03
944916 1		262,500.00	261,764.67	Aug-01-03	8.950%	CA - 75.00%	360	Jun-20-03
861175 2		80,750.00	80,368.62	Jun-01-03	8.750%	AZ - 85.00%	360	Mar-31-03
889147 2		332,100.00	330,216.73	Jul-01-03	7.150%	CA - 90.00%	360	May-01-03
912068 2		288,135.00	286,694.30	Jul-01-03	6.990%	CA - 90.00%	360	Jun-06-03
922624 2		84,500.00	84,219.80	Aug-01-03	8.125%	WV - 65.00%	360	Jun-11-03
923186 2		394,825.00	392,716.07	Aug-01-03	6.650%	CA - 85.00%	360	Jun-03-03
926314 2		54,400.00	54,272.37	Aug-01-03	9.800%	IN - 80.00%	360	Jun-27-03
928514 2		478,380.00	476,720.47	Aug-01-03	7.900%	CA - 84.67%	360	Jun-30-03
933171 2		174,600.00	173,950.42	Jul-01-03	7.550%	TX - 90.00%	360	Jun-30-03
943615 2		75,040.00	74,879.93	Aug-01-03	10.250%	AL - 80.00%	360	Jun-27-03
945511 2		50,800.00	50,680.73	Aug-01-03	9.990%	TX - 80.00%	360	Jun-30-03
954111 2		60,000.00	59,870.62	Aug-01-03	10.200%	NE - 69.77%	360	Jun-25-03
				Page 15 of 25				© COPYRIGHT 2003 Deutsche Bank
	Morgan Stanley ABS Capital I Inc. 2003-NC8
	Mortgage Pass-Through Certificates
	Prepayment Report for December 26, 2003 Distribution
	Prepayment Report - Voluntary Prepayments
VOLUNTARY PREPAYMENTS						GROUP 2	GROUP 1	TOTAL
	Current
	Number of Paid in Full Loans					13	54	67
	Number of Repurchased Loans					-	-	-
	Total Number of Loans Prepaid in Full					13	54	67
	Paid in Full Balance					3,407,935.54	9,927,043.83	13,334,979.37
	Repurchased Loans Balance					-	-	-
	Curtailments Amount					17,246.81	25,663.27	42,910.08
	Total Prepayment Amount					3,425,182.35	9,952,707.10	13,377,889.45
	Cumulative
	Number of Paid in Full Loans					44	126	170
	Number of Repurchased Loans					-	-	-
	Total Number of Loans Prepaid in Full					44	126	170
	Paid in Full Balance					10,710,360.20	21,467,433.94	32,177,794.14
	Repurchased Loans Balance					-	-	-
	Curtailments Amount					67,370.60	77,195.59	144,566.19
	Total Prepayment Amount					10,777,730.80	21,544,629.53	32,322,360.33
SPACE INTENTIONALLY LEFT BLANK
Total Prepayments by Groups (in thousands of dollars)					Total Prepayments (in thousands of dollars)
				Page 16 of 25				© COPYRIGHT 2003 Deutsche Bank
	Morgan Stanley ABS Capital I Inc. 2003-NC8
	Mortgage Pass-Through Certificates
	Prepayment Report for December 26, 2003 Distribution
	Prepayment Report - Voluntary Prepayments
VOLUNTARY PREPAYMENT RATES						GROUP 2	GROUP 1	TOTAL
	SMM					0.73%	1.15%	1.00%
	3 Months Avg SMM					0.75%	0.82%	0.80%
	12 Months Avg SMM
	Avg SMM Since Cut-off					0.75%	0.82%	0.80%
	CPR					8.37%	12.94%	11.35%
	3 Months Avg CPR					8.69%	9.45%	9.18%
	12 Months Avg CPR
	Avg CPR Since Cut-off					8.69%	9.45%	9.18%
	PSA					807.06%	1253.15%	1097.81%
	3 Months Avg PSA Approximation					1038.20%	1134.75%	1100.63%
	12 Months Avg PSA Approximation
	Avg PSA Since Cut-off Approximation					1038.20%	1134.75%	1100.63%
	Group 1
	Group 2
CPR by Groups					Total CPR
PSA by Groups					Total PSA
				Page 17 of 25				© COPYRIGHT 2003 Deutsche Bank
	Morgan Stanley ABS Capital I Inc. 2003-NC8
	Mortgage Pass-Through Certificates
	Prepayment Report for December 26, 2003 Distribution
	Prepayment Report - Voluntary Prepayments
	Group 1
	Group 2
CPR Avg since Cut-Off by Groups					Total CPR Avg since Cut-Off
PSA Avg since Cut-Off by Groups					Total PSA Avg since Cut-Off
PREPAYMENT CALCULATION METHODOLOGY
Single Monthly Mortality (SMM): (Voluntary partial and full prepayments + Repurchases)/(Beg Principal Balance - Sched Principal)
Conditional Prepayment Rate (CPR): 1-((1-SMM)^12)
PSA Standard Prepayment Model: CPR/(0.02*min(30,WAS))
Average SMM over period between nth month and mth month (AvgSMMn,m): [(1-SMMn) * (1-SMMn+1) .......(1-SMMm)]^(1/months in period n,m)
Average CPR over period between the nth month and mth month (AvgCPRn,m): 1-((1-AvgSMMn,m)^12)
Average PSA Approximation over period between the nth month and mth month: AvgCPRn,m/(0.02*Avg WASn,m))
Average WASn,m: (min(30,WASn)+min(30,WASn+1)+.......+min(30,WASm)/(number of months in the period n,m)
Weighted Average Seasoning (WAS)
Note: Prepayment rates are calculated since deal issue date and include partial and full voluntary prepayments and repurchases.
Dates correspond to distribution dates.
				Page 18 of 25				© COPYRIGHT 2003 Deutsche Bank
	Morgan Stanley ABS Capital I Inc. 2003-NC8
	Mortgage Pass-Through Certificates
	Prepayment Detail Report for December 26, 2003 Distribution
	Prepayment Detail Report - Loans Prepaid in Full During Current Distribution
SUMMARY						LOAN GROUP
Total Loan Count = 67						Loan Group 1 = Group 1 Group
Total Original Principal Balance = 13,382,135.00						Loan Group 2 = Group 2 Group
Total Prepayment Amount = 13,334,979.37
Loan Number			Original			Current	State &	Type Prepayment
&		Loan	Principal	Prepayment	Prepayment	Note	LTV at	&	Origination
Loan Group		Status	Balance	Amount	Date	Rate	Origination	Original Term	Date
861576 1			231,000.00	230,476.22	Nov-17-03	8.875%	NY - 70.00%	Paid Off - 360	Jun-04-03
867802 1			188,000.00	187,436.63	Nov-05-03	7.500%	MA - 80.00%	Paid Off - 360	Jun-09-03
875907 1			150,000.00	149,479.64	Nov-17-03	7.900%	CA - 63.83%	Paid Off - 360	Jun-18-03
878163 1			174,600.00	173,942.58	Nov-13-03	7.490%	CA - 90.00%	Paid Off - 360	May-05-03
881784 1			110,500.00	110,202.97	Nov-24-03	9.150%	MO - 85.00%	Paid Off - 360	May-07-03
890449 1			101,250.00	100,796.26	Nov-04-03	8.000%	CA - 75.00%	Paid Off - 360	May-01-03
900722 1			222,000.00	221,314.66	Nov-28-03	7.350%	FL - 80.00%	Paid Off - 360	Jun-26-03
902612 1			229,500.00	228,491.08	Nov-06-03	6.700%	CA - 85.00%	Paid Off - 360	Jun-06-03
903517 1			166,500.00	166,157.91	Nov-29-03	9.350%	RI - 75.00%	Paid Off - 360	Jun-04-03
908224 1			300,000.00	299,068.88	Nov-29-03	8.450%	CA - 80.00%	Paid Off - 360	Jun-09-03
908898 1			192,400.00	192,083.38	Nov-29-03	10.400%	NJ - 65.00%	Paid Off - 360	Jun-02-03
915671 1			85,000.00	84,752.79	Nov-20-03	7.650%	NY - 70.25%	Paid Off - 360	Jun-30-03
916697 1			203,000.00	202,664.17	Nov-04-03	10.375%	CA - 70.00%	Paid Off - 360	Jun-26-03
918163 1			216,000.00	215,333.19	Nov-20-03	7.350%	IL - 90.00%	Paid Off - 360	Jun-11-03
918284 1			135,200.00	134,964.39	Nov-18-03	11.350%	IN - 80.00%	Paid Off - 360	Jun-23-03
919879 1			57,375.00	57,188.92	Nov-13-03	7.100%	IA - 85.00%	Paid Off - 360	Jun-23-03
920887 1			180,000.00	179,589.36	Nov-14-03	8.850%	NJ - 80.00%	Paid Off - 360	Jun-10-03
922545 1			211,500.00	210,720.95	Nov-24-03	7.600%	MN - 90.00%	Paid Off - 360	Jun-06-03
922819 1			110,000.00	109,670.37	Nov-03-03	7.500%	RI - 67.48%	Paid Off - 360	Jun-04-03
923792 1			200,000.00	199,318.62	Nov-20-03	7.990%	CA - 64.52%	Paid Off - 360	May-30-03
923856 1			270,000.00	269,015.68	Nov-11-03	6.500%	MA - 90.00%	Paid Off - 360	Jun-12-03
924309 1			266,000.00	265,205.47	Nov-29-03	8.650%	WA - 95.00%	Paid Off - 360	May-23-03
924327 1			308,100.00	304,260.05	Nov-25-03	7.250%	NJ - 65.00%	Paid Off - 180	Jun-18-03
927741 1			252,450.00	251,613.33	Nov-29-03	6.990%	NY - 90.00%	Paid Off - 360	Jun-17-03
927798 1			81,600.00	81,393.95	Nov-29-03	8.350%	IA - 85.00%	Paid Off - 360	Jun-23-03
929368 1			209,200.00	208,466.30	Nov-25-03	6.700%	MD - 87.90%	Paid Off - 360	Jun-24-03
930056 1			266,000.00	265,020.50	Dec-01-03	6.450%	NJ - 95.00%	Paid Off - 360	Jun-17-03
930306 1			250,000.00	249,171.47	Nov-05-03	6.990%	CA - 79.87%	Paid Off - 360	Jun-30-03
931250 1			95,960.00	95,634.74	Nov-28-03	6.875%	AZ - 80.30%	Paid Off - 360	Jun-17-03
932690 1			227,200.00	226,620.37	Nov-20-03	8.300%	FL - 80.00%	Paid Off - 360	Jun-06-03
933386 1			190,000.00	189,562.43	Nov-26-03	8.800%	CO - 61.29%	Paid Off - 360	Jun-13-03
933495 1			181,500.00	181,174.76	Nov-13-03	10.000%	IL - 66.00%	Paid Off - 360	Jun-19-03
934663 1			160,000.00	159,351.93	Nov-03-03	5.950%	CA - 53.33%	Paid Off - 360	Jun-16-03
935000 1			208,250.00	207,468.54	Nov-21-03	6.350%	CA - 85.00%	Paid Off - 360	Jun-25-03
935146 1			93,000.00	92,706.56	Dec-01-03	7.250%	FL - 75.00%	Paid Off - 360	Jun-20-03
937045 1			314,100.00	313,006.29	Nov-25-03	6.750%	CA - 90.00%	Paid Off - 360	Jun-30-03
937789 1			202,350.00	201,680.72	Nov-18-03	7.000%	MD - 75.00%	Paid Off - 360	Jun-09-03
938612 1			97,500.00	97,305.86	Nov-05-03	9.500%	VA - 75.00%	Paid Off - 360	Jun-23-03
938738 1			200,000.00	199,337.68	Nov-25-03	7.000%	CA - 80.32%	Paid Off - 360	Jun-30-03
939690 1			175,950.00	175,386.57	Nov-21-03	7.165%	CA - 85.00%	Paid Off - 360	Jun-11-03
939993 1			296,000.00	295,197.55	Dec-01-03	8.000%	NY - 80.00%	Paid Off - 360	Jun-25-03
944645 1			85,000.00	84,710.45	Nov-25-03	6.850%	IL - 50.00%	Paid Off - 360	Jun-16-03
944684 1			296,100.00	295,295.66	Nov-25-03	7.990%	CA - 90.00%	Paid Off - 360	Jun-24-03
945198 1			128,000.00	127,716.57	Nov-03-03	8.990%	CA - 80.00%	Paid Off - 360	Jun-26-03
					Page 19 of 25				© COPYRIGHT 2003 Deutsche Bank
	Morgan Stanley ABS Capital I Inc. 2003-NC8
	Mortgage Pass-Through Certificates
	Prepayment Detail Report for December 26, 2003 Distribution
	Prepayment Detail Report - Loans Prepaid in Full During Current Distribution
Loan Number			Original			Current	State &
&		Loan	Principal	Prepayment	Prepayment	Note	LTV at	Original	Origination
Loan Group		Status	Balance	Amount	Date	Rate	Origination	Term	Date
945273 1			159,800.00	159,311.52	Nov-07-03	7.400%	MD - 85.00%	Paid Off - 360	Jun-20-03
947884 1			165,750.00	163,922.74	Nov-04-03	7.990%	AZ - 67.38%	Paid Off - 360	Jun-25-03
948111 1			285,600.00	284,654.40	Nov-17-03	7.150%	CA - 85.00%	Paid Off - 360	Jun-18-03
948314 1			72,800.00	72,690.78	Nov-24-03	10.830%	CA - 65.00%	Paid Off - 360	Jun-24-03
949407 1			145,000.00	144,374.79	Nov-19-03	6.000%	CO - 42.03%	Paid Off - 360	Jun-18-03
952436 1			193,800.00	192,969.30	Nov-14-03	5.650%	IL - 85.00%	Paid Off - 360	Jun-12-03
953435 1			121,600.00	121,196.98	Nov-24-03	6.990%	ID - 80.00%	Paid Off - 360	Jun-25-03
954126 1			187,000.00	186,564.92	Nov-24-03	8.750%	CA - 85.00%	Paid Off - 360	Jun-20-03
958969 1			177,000.00	176,608.09	Nov-05-03	8.990%	CA - 66.04%	Paid Off - 360	Jun-30-03
960474 1			135,000.00	134,793.96	Nov-05-03	10.750%	MA - 42.86%	Paid Off - 360	Jun-24-03
833526 2			86,000.00	85,643.73	Oct-31-03	8.720%	CA - 74.78%	Paid Off - 360	Mar-31-03
890357 2			214,000.00	213,465.05	Nov-24-03	8.400%	NJ - 68.37%	Paid Off - 360	Jun-24-03
902676 2			306,000.00	304,957.72	Nov-18-03	6.850%	MI - 90.00%	Paid Off - 360	Jun-10-03
903414 2			75,000.00	74,842.66	Nov-28-03	9.250%	CA - 57.69%	Paid Off - 360	Jun-25-03
912444 2			311,100.00	310,213.17	Nov-04-03	7.750%	CA - 85.00%	Paid Off - 360	Jun-27-03
916819 2			168,000.00	167,756.52	Nov-20-03	10.990%	CO - 70.00%	Paid Off - 360	Jun-13-03
922291 2			108,000.00	107,730.02	Nov-26-03	8.400%	NV - 80.00%	Paid Off - 360	Jun-26-03
929243 2			452,000.00	450,519.53	Nov-04-03	7.050%	GA - 80.00%	Paid Off - 360	Jun-05-03
935798 2			453,600.00	452,039.87	Nov-24-03	6.800%	CA - 80.00%	Paid Off - 360	Jun-25-03
936268 2			125,000.00	124,621.70	Nov-07-03	7.450%	KS - 69.83%	Paid Off - 360	Jun-20-03
936612 2			337,250.00	335,935.04	Nov-04-03	6.150%	CA - 95.00%	Paid Off - 360	Jun-06-03
951002 2			415,000.00	411,782.67	Nov-04-03	7.800%	CA - 51.88%	Paid Off - 360	Jun-30-03
953895 2			369,750.00	368,427.85	Nov-03-03	6.600%	CA - 85.00%	Paid Off - 360	Jun-30-03
					Page 20 of 25				© COPYRIGHT 2003 Deutsche Bank
	Morgan Stanley ABS Capital I Inc. 2003-NC8
	Mortgage Pass-Through Certificates
	Realized Loss Report for December 26, 2003 Distribution
	Realized Loss Report - Collateral
COLLATERAL REALIZED LOSSES						GROUP 2	GROUP 1	TOTAL
	Current
	Number of Loans Liquidated					-	-	-
	Collateral Realized Loss/(Gain) Amount					-	-	-
	Net Liquidation Proceeds					-	-	-
	Cumulative
	Number of Loans Liquidated					-	-	-
	Collateral Realized Loss/(Gain) Amount					-	-	-
	Net Liquidation Proceeds					-	-	-
	Note: Collateral Realized Loss Amount may include adjustments to loans liquidated in prior periods.
	Cumulative Loss Percentage							0.00%
	Group 1						3 Months Moving Average
	Group 2
Collateral Loss Severity Approximation by Groups					Collateral Loss Severity Approximation
				Page 21 of 25				© COPYRIGHT 2003 Deutsche Bank
	Morgan Stanley ABS Capital I Inc. 2003-NC8
	Mortgage Pass-Through Certificates
	Realized Loss Report for December 26, 2003 Distribution
	Realized Loss Report - Collateral
DEFAULT SPEEDS						GROUP 2	GROUP 1	TOTAL
	MDR					0.00%	0.00%	0.00%
	3 Months Avg MDR					0.00%	0.00%	0.00%
	12 Months Avg MDR
	Avg MDR Since Cut-off					0.00%	0.00%	0.00%
	CDR					0.00%	0.00%	0.00%
	3 Months Avg CDR					0.00%	0.00%	0.00%
	12 Months Avg CDR
	Avg CDR Since Cut-off					0.00%	0.00%	0.00%
	SDA					0.00%	0.00%	0.00%
	3 Months Avg SDA Approximation					0.00%	0.00%	0.00%
	12 Months Avg SDA Approximation
	Avg SDA Since Cut-off Approximation					0.00%	0.00%	0.00%
	Loss Severity Approximation for Current Period
	3 Months Avg Loss Severity Approximation
	12 Months Avg Loss Severity Approximation
	Avg Loss Severity Approximation Since Cut-off
	Group 1
	Group 2
CDR by Groups					Total CDR
SDA by Groups					Total SDA
				Page 22 of 25				© COPYRIGHT 2003 Deutsche Bank
	Morgan Stanley ABS Capital I Inc. 2003-NC8
	Mortgage Pass-Through Certificates
	Realized Loss Report for December 26, 2003 Distribution
	Realized Loss Report - Collateral
	Group 1
	Group 2
CDR Avg since Cut-Off by Groups					Total CDR Avg since Cut-Off
SDA Avg since Cut-Off by Groups					Total SDA Avg since Cut-Off
COLLATERAL REALIZED LOSS CALCULATION METHODOLOGY
Monthly Default Rate (MDR): (Beg Principal Balance of Liquidated Loans)/(Total Beg Principal Balance)
Conditional Default Rate (CDR): 1-((1-MDR)^12)
SDA Standard Default Assumption: CDR/IF(WAS<61,MIN(30,WAS)0.02,MAX(0.03,MIN(30,WAS)0.02-0.0095*(WAS-60)))
Average MDR over period between nth month and mth month (AvgMDRn,m): [(1-MDRn) * (1-MDRn+1) .......(1-MDRm)]^(1/months in period n,m)
Average CDR over period between the nth month and mth month (AvgCDRn,m): 1-((1-AvgMDRn,m)^12)
Average SDA Approximation over period between the nth month and mth month:
AvgCDRn,m/IF(Avg WASn,m<61,MIN(30,Avg WASn,m)0.02,MAX(0.03,MIN(30,Avg WASn,m)0.02-0.0095*(Avg WASn,m-60)))
Average WASn,m: (WASn + WASn+1 +.......+ WASm )/(number of months in the period n,m)
Loss Severity Approximation for current period: sum(Realized Loss Amount)/sum(Beg Principal Balance of Liquidated Loans)
Average Loss Severity Approximation over period between nth month and mth month: Avg(Loss Severityn,m)
Note: Default rates are calculated since deal issue date and include realized gains and additional realized losses and gains from prior periods.
Dates correspond to distribution dates.
				Page 23 of 25				© COPYRIGHT 2003 Deutsche Bank
	Morgan Stanley ABS Capital I Inc. 2003-NC8
	Mortgage Pass-Through Certificates
	Realized Loss Detail Report for December 26, 2003 Distribution
	Realized Loss Detail Report - Loans Liquidated During Current Distribution
SUMMARY						LOAN GROUP
Total Loan Count = 0						Loan Group 1 = Group 1 Group
Total Original Principal Balance = 0.00						Loan Group 2 = Group 2 Group
Total Prior Principal Balance = 0.00
Total Realized Loss Amount = 0.00
Total Net Liquidation Proceeds = 0.00
Note: Total Realized Loss Amount may include adjustments to loans liquidated in prior periods.
Loan Number			Original	Prior		Current	State &
&		Loan	Principal	Principal	Realized	Note	LTV at	Original	Origination
Loan Group		Status	Balance	Balance	Loss/(Gain)	Rate	Origination	Term	Date
SPACE INTENTIONALLY LEFT BLANK
					Page 24 of 25				© COPYRIGHT 2003 Deutsche Bank
	Morgan Stanley ABS Capital I Inc. 2003-NC8
	Mortgage Pass-Through Certificates
	Triggers, Adj. Rate Cert. and Miscellaneous Report for December 26, 2003 Distribution
	Triggers, Adj. Rate Cert. and Miscellaneous Report
TRIGGER EVENTS						GROUP 2	GROUP 1	TOTAL
	Has a Stepdown Date occurred?							No
	Does Trigger Event exist?							No
	1. Does (A) equal or exceed (B)?							No
	(A) 60+ Day Delinq % (quotient of (x) over (y))							0.27%
	(x) Rolling 3-month avg. of 60+ Day Delinq. Loans							3,543,772.05
	(y) Stated Principal Balance							1,325,360,401.09
	(B) 40% of Sr. Enhancement Percentage							7.92%
	2. Does (A) exceed (B)?							No
	(A) Realized Loss % (quotient of (x) over (y))							0.00%
	(x) Agg. Realized Losses to date							0.00
	(y) Cut-off Date Pool Principal Balance							1,361,221,758.08
	(B) Applicable Percentage							100.00%
	Senior Enhancement Percentage (Prior)							19.81%
ADJUSTABLE RATE CERTIFICATE INFORMATION						GROUP 2	GROUP 1	TOTAL
SPACE INTENTIONALLY LEFT BLANK
ADDITIONAL INFORMATION						GROUP 2	GROUP 1	TOTAL
	Basis Risk Carry Forward Amount							0.00
				Page 25 of 25				© COPYRIGHT 2003 Deutsche Bank

Filing Compare · MORTGAGE PASS-THROUGH CERTIFICATES SERIES 2003-NC8