SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K Current Report Pursuant To Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): ~~September~~October 2527, 2003 MORGAN STANLEY CAPITAL I INC. (as Depositor, Chase Manhattan Mortgage Corporation as Servicer, Wells Fargo Home Mortgage Inc as Servicer and Responsible Party, Accredited Home Lenders, Inc as Responsible Party and Deutsche Bank National Trust Company, as Trustee). MORGAN STANLEY ABS CAPITAL I INC TRUST 2003-HE 2 (Exact name of Registrant as specified in its Charter) DELAWARE (State or Other Jurisdiction of Incorporation) 333-104046-10 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 ~~September~~October 2527, 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 June 1,2003. Date: Oct 0129, 2003 By: /s/ Katherine M. Wannenmacher Katherine M. Wannenmacher Vice President EXHIBIT INDEX DOCUMENT Monthly Remittance Statement to the Certificateholders dated as of ~~September~~October 2527, 2003.

	Morgan Stanley ABS Capital I Inc. 2003-HE2
	Mortgage Pass-Through Certificates
	September 25, 2003 Distribution
	October 27, 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				2021
			12.	Realized Loss Detail Report				2324
			13.	Triggers, Adj. Rate Cert. and Miscellaneous Report				2425
				Total Number of Pages				2425
			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: August 1, 2003
	Certificate Insurer(s):							Closing Date: August 26, 2003
								First Payment Date: September 25, 2003
	Servicer(s):		Chase Manhattan Mortgage Master Servicer
			Wells Fargo Master Servicer
								Distribution Date: September 25, 2003
								Distribution Date: October 27, 2003
	Underwriter(s):		Morgan Stanley Dean Witter					Record Date: ~~September~~October 24, 2003
								August 29, 2003
								September 30, 2003
						Page 1 of 24					© COPYRIGHT 2003 Deutsche Bank
						Page 1 of 25					© COPYRIGHT 2003 Deutsche Bank
	Morgan Stanley ABS Capital I Inc. 2003-HE2
	Mortgage Pass-Through Certificates
	REMIC II Series 2003-HE2
	Certificate Payment Report for September 25, 2003 Distribution
	Certificate Payment Report for October 27, 2003 Distribution
	Distribution in Dollars - Current Period
					Prior						Current
	Class	Original			Principal			Total	Realized	Deferred	Principal
Class	Type	Face Value			Balance	Interest	Principal	Distribution	Losses	Interest	Balance
					(1)	(2)	(3)	(4)=(2)+(3)	(5)	(6)	(7)=(1)-(3)-(5)+(6)
A-1	FLT	299,599,000.00			~~299~~295,~~599~~528,~~000~~881.0041	~~381~~404,~~988~~546.7320	4,~~070~~469,~~118~~981.5918	4,~~452~~874,~~107~~527.3238	-	-	~~295~~291,~~528~~058,~~881~~900.4123
A-2	FLT	205,944,000.00			~~205~~204,~~944~~061,~~000~~863.0076	~~248~~264,~~849~~826.0095	12,~~882~~617,~~136~~696.2444	2,~~130~~882,~~985~~523.2439	-	-	~~204~~201,~~061~~444,~~863~~167.7632
M-1	MEZ, FLT	37,447,000.00			37,447,000.00	5458,~~922~~916.2761	-	5458,~~922~~916.2761	-	-	37,447,000.00
M-2	MEZ, FLT	34,327,000.00			34,327,000.00	7884,~~952~~520.1070	-	7884,~~952~~520.1070	-	-	34,327,000.00
M-3	MEZ, FLT	9,362,000.00			9,362,000.00	2425,~~263~~963.1895	-	2425,~~263~~963.1895	-	-	9,362,000.00
B-1	SUB, FLT	9,362,000.00			9,362,000.00	3437,~~795~~198.4335	-	3437,~~795~~198.4335	-	-	9,362,000.00
B-2	SUB, FLT	9,362,000.00			9,362,000.00	3941,~~086~~775.3532	-	3941,~~086~~775.3532	-	-	9,362,000.00
B-3	SUB, FLT	9,362,000.00			9,362,000.00	3942,~~866~~607.5250	-	3942,~~866~~607.5250	-	-	9,362,000.00
X	SUB	9,362,306.40			9,~~362~~361,~~306~~909.4060	2,~~989~~890,~~793~~508.2512	~~396.80~~-	2,~~990~~890,~~190~~508.0512	-	-	9,361,909.60
UT-R	R	-			-	-	-	-	-	-	-
P	EXE	-			-	99169,~~093~~611.7743	-	99169,~~093~~611.7743	-	-	-
Total		624,127,306.40			~~624~~618,~~127~~174,~~306~~654.4077	34,~~991~~020,~~610~~475.6013	57,~~952~~087,~~651~~677.6362	911,~~944~~108,~~262~~152.2375	-	-	~~618~~611,~~174~~086,~~654~~977.7715
	Interest Accrual Detail				Current Period Factor Information per $1,000 of Original Face
						Orig. Principal	Prior				Current
	Period	Period				(with Notional)	Principal			Total	Principal
Class	Starting	Ending		Method	Cusip	Balance	Balance	Interest	Principal	Distribution	Balance
							(1)	(2)	(3)	(4)=(2)+(3)	(5)
A-1	0809/2625/03	0910/2426/03		A-Act/360	61746RCY5	299,599,000.00	~~1,000~~986.~~000000~~414779	1.~~275000~~350292	1314.~~585221~~919880	1416.~~860221~~270172	~~986~~971.~~414779~~494899
A-2	0809/2625/03	0910/2426/03		A-Act/360	61746RCZ2	205,944,000.00	~~1,000~~990.~~000000~~860932	1.~~208333~~285917	912.~~139068~~710720	1013.~~347401~~996637	~~990~~978.~~860932~~150212
M-1	0809/2625/03	0910/2426/03		A-Act/360	61746RDA6	37,447,000.00	1,000.000000	1.~~466667~~573333	-	1.~~466667~~573333	1,000.000000
M-2	0809/2625/03	0910/2426/03		A-Act/360	61746RDB4	34,327,000.00	1,000.000000	2.~~300000~~462222	-	2.~~300000~~462222	1,000.000000
M-3	0809/2625/03	0910/2426/03		A-Act/360	61746RDC2	9,362,000.00	1,000.000000	2.~~591666~~773334	-	2.~~591666~~773334	1,000.000000
B-1	0809/2625/03	0910/2426/03		A-Act/360	61746RDD0	9,362,000.00	1,000.000000	3.~~716666~~973334	-	3.~~716666~~973334	1,000.000000
B-2	0809/2625/03	0910/2426/03		A-Act/360	61746RDE8	9,362,000.00	1,000.000000	4.~~175000~~462222	-	4.~~175000~~462222	1,000.000000
B-3	0809/2625/03	0910/2426/03		A-Act/360	61746RDF5	9,362,000.00	1,000.000000	4.~~258334~~551111	-	4.~~258334~~551111	1,000.000000
X	0809/2625/03	0910/2426/03		A-Act/360		9,362,306.40	~~1,000~~999.~~000000~~957617	~~319~~308.~~343666~~738894	~~0.042383~~-	~~319~~308.~~386049~~738894	999.957617
UT-R	0809/2625/03	0910/2426/03		-		-	-	-	-	-	-
P	0809/2625/03	0910/2426/03		-		-	-	-	-	-	-
							Page 2 of 24				© COPYRIGHT 2003 Deutsche Bank
							Page 2 of 25				© COPYRIGHT 2003 Deutsche Bank
	Morgan Stanley ABS Capital I Inc. 2003-HE2
	Mortgage Pass-Through Certificates
	REMIC II Series 2003-HE2
	Certificate Payment Report for September 25, 2003 Distribution
	Certificate Payment Report for October 27, 2003 Distribution
	Distribution in Dollars - to Date
											Current
	Original				Unscheduled	Scheduled	Total	Total	Realized	Deferred	Principal
Class	Face Value		Interest		Principal	Principal	Principal	Distribution	Losses	Interest	Balance
	(1)		(2)		(3)	(4)	(5)=(3)+(4)	(6)=(2)+(5)	(7)	(8)	(9)=(1)-(5)-(7)+(8)
A-1	299,599,000.00		~~381~~786,~~988~~534.7393		37,~~733~~893,~~619~~508.6667	~~336~~646,~~498~~591.9310	48,~~070~~540,~~118~~099.5977	49,~~452~~326,~~107~~634.3270	-	-	~~295~~291,~~528~~058,~~881~~900.4123
A-2	205,944,000.00		~~248~~513,~~849~~675.0095		14,~~726~~162,~~529~~630.7699	~~155~~337,~~606~~201.4869	14,~~882~~499,~~136~~832.2468	25,~~130~~013,~~985~~508.2463	-	-	~~204~~201,~~061~~444,~~863~~167.7632
M-1	37,447,000.00		54113,~~922~~838.2788		0.00	-	-	54113,~~922~~838.2788	-	-	37,447,000.00
M-2	34,327,000.00		78163,~~952~~472.1080		-	-	-	78163,~~952~~472.1080	-	-	34,327,000.00
M-3	9,362,000.00		2450,~~263~~227.1813		-	-	-	2450,~~263~~227.1813	-	-	9,362,000.00
B-1	9,362,000.00		3471,~~795~~993.4378		-	-	-	3471,~~795~~993.4378	-	-	9,362,000.00
B-2	9,362,000.00		3980,~~086~~861.3567		-	-	-	3980,~~086~~861.3567	-	-	9,362,000.00
B-3	9,362,000.00		3982,~~866~~474.5202		-	-	-	3982,~~866~~474.5202	-	-	9,362,000.00
X	9,362,306.40		25,~~989~~880,~~793~~301.2537		363.99	32.81	396.80	25,~~990~~880,~~190~~698.0517	-	-	9,361,909.60
UT-R	-		-		-	-	-	-	-	-	-
P	-		99268,~~093~~705.7720		-	-	-	99268,~~093~~705.7720	-	-	-
Total	624,127,306.40		38,~~991~~012,~~610~~085.6073		512,~~460~~056,~~513~~503.4265	~~492~~983,~~138~~825.2160	513,~~952~~040,~~651~~329.6325	921,~~944~~052,~~262~~414.2398	-	-	~~618~~611,~~174~~086,~~654~~977.7715
	Interest Detail
	Pass-	Prior Principal				Non-	Prior	Unscheduled		Paid or	Current
	Through	(with Notional)			Accrued	Supported	Unpaid	Interest	Optimal	Deferred	Unpaid
Class	Rate	Balance			Interest	Interest SF	Interest	Adjustments	Interest	Interest	Interest
					(1)	(2)	(3)	(4)	(5)=(1)-(2)+(3)+(4)	(6)	(7)=(5)-(6)
A-1	1.~~53000~~54000%	~~299~~295,~~599~~528,~~000~~881.0041			~~381~~404,~~988~~546.7320	-	-	-	~~381~~404,~~988~~546.7320	~~381~~404,~~988~~546.7320	-
A-2	1.~~45000~~46000%	~~205~~204,~~944~~061,~~000~~863.0076			~~248~~264,~~849~~826.0095	-	-	-	~~248~~264,~~849~~826.0095	~~248~~264,~~849~~826.0095	-
M-1	1.~~76000~~77000%	37,447,000.00			5458,~~922~~916.2761	-	-	-	5458,~~922~~916.2761	5458,~~922~~916.2761	-
M-2	2.~~76000~~77000%	34,327,000.00			7884,~~952~~520.1070	-	-	-	7884,~~952~~520.1070	7884,~~952~~520.1070	-
M-3	3.~~11000~~12000%	9,362,000.00			2425,~~263~~963.1895	-	-	-	2425,~~263~~963.1895	2425,~~263~~963.1895	-
B-1	4.~~46000~~47000%	9,362,000.00			3437,~~795~~198.4335	-	-	-	3437,~~795~~198.4335	3437,~~795~~198.4335	-
B-2	5.~~01000~~02000%	9,362,000.00			3941,~~086~~775.3532	-	-	-	3941,~~086~~775.3532	3941,~~086~~775.3532	-
B-3	5.~~11000~~12000%	9,362,000.00			3942,~~866~~607.5250	-	-	-	3942,~~866~~607.5250	3942,~~866~~607.5250	-
X	5.~~74843~~61105%	9,~~362~~361,~~306~~909.4060			2,~~989~~890,~~793~~508.2512	-	-	-	2,~~989~~890,~~793~~508.2512	2,~~989~~890,~~793~~508.2512	-
UT-R		-			-	-	-	-	-	-	-
P		-			99169,~~093~~611.7743	-	-	-	99169,~~093~~611.7743	99169,~~093~~611.7743	-
Total		~~624~~618,~~127~~174,~~306~~654.4077			34,~~991~~020,~~610~~475.6013	-	-	-	34,~~991~~020,~~610~~475.6013	34,~~991~~020,~~610~~475.6013	-
							Page 3 of 24				© COPYRIGHT 2003 Deutsche Bank
							Page 3 of 25				© COPYRIGHT 2003 Deutsche Bank
	Morgan Stanley ABS Capital I Inc. 2003-HE2
	Mortgage Pass-Through Certificates
	Collection Account Report for September 25, 2003 Distribution
	Collection Account Report for October 27, 2003 Distribution
	Collection Account Report
SUMMARY						GROUP 2	GROUP 1	TOTAL
	Principal Collections					12,~~882~~617,~~261~~696.7144	4,~~070~~469,~~389~~981.9218	57,~~952~~087,~~651~~677.6362
	Principal Other Accounts					0.00	0.00	0.00
	TOTAL NET PRINCIPAL					12,~~882~~617,~~261~~696.7144	4,~~070~~469,~~389~~981.9218	57,~~952~~087,~~651~~677.6362
	Interest Collections					1,~~582~~568,~~233~~666.3585	2,~~310~~282,~~283~~196.4885	3,~~892~~850,~~516~~863.8370
	Interest Withdrawals					0.00	0.00	0.00
	Interest Other Accounts					0.00	0.00	0.00
	Interest Fees					(1715,~~492~~680.8028)	(2622,~~960~~949.66)	(4438,~~453~~629.4694)
	TOTAL NET INTEREST					1,~~564~~552,~~740~~986.5557	2,~~283~~259,~~322~~247.8219	3,~~848~~812,~~063~~233.3776
	TOTAL PRINCIPAL & INTEREST DISTRIBUTABLE					34,~~447~~170,~~002~~683.2601	6,~~353~~729,~~712~~228.7437	910,~~800~~899,~~715~~911.0038
	Prepayment Penalties Collected							99169,~~093~~611.7743
	TOTAL AVAILABLE FUNDS FOR DISTRIBUTION							911,~~944~~108,~~262~~152.2375
PRINCIPAL - COLLECTIONS						GROUP 2	GROUP 1	TOTAL
	Scheduled Principal Received					214,~~318~~424.3639	277,~~819~~263.8500	~~492~~491,~~138~~687.2139
	Prepayments In Full					12,~~652~~388,~~186~~385.6827	34,~~756~~171,~~417~~925.9007	56,~~408~~560,~~604~~310.5834
	Curtailments					1514,~~756~~886.6778	3620,~~152~~793.1711	5135,~~908~~679.8489
	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					(~~181~~185,~~365~~900.1108)	(~~231~~239,~~947~~150.0289)	(~~413~~425,~~312~~050.1397)
	Advanced Principal					~~181~~185,~~365~~900.1108	~~231~~239,~~947~~150.0289	~~413~~425,~~312~~050.1397
	TOTAL PRINCIPAL COLLECTED					12,~~882~~617,~~261~~696.7144	4,~~070~~469,~~389~~981.9218	57,~~952~~087,~~651~~677.6362
				Page 4 of 24				© COPYRIGHT 2003 Deutsche Bank
				Page 4 of 25				© COPYRIGHT 2003 Deutsche Bank
	Morgan Stanley ABS Capital I Inc. 2003-HE2
	Mortgage Pass-Through Certificates
	Collection Account Report for September 25, 2003 Distribution
	Collection Account Report for October 27, 2003 Distribution
	Collection Account Report
PRINCIPAL - WITHDRAWALS						GROUP 2	GROUP 1	TOTAL
SPACE INTENTIONALLY LEFT BLANK
PRINCIPAL - OTHER ACCOUNTS						GROUP 2	GROUP 1	TOTAL
SPACE INTENTIONALLY LEFT BLANK
INTEREST - COLLECTIONS						GROUP 2	GROUP 1	TOTAL
	Scheduled Interest					1,~~689~~675,~~697~~790.1958	2,~~466~~436,~~617~~810.4440	4,~~156~~112,~~314~~600.6398
	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,~~440~~453,~~283~~752.9178)	(2,~~081~~116,~~191~~003.2057)	(3,~~521~~569,~~475~~756.1135)
	Interest Advanced					1,~~350~~362,~~312~~764.8779	1,~~951~~984,~~817~~339.9068	3,~~302~~347,~~130~~104.7747
	TOTAL INTEREST COLLECTED					1,~~582~~568,~~233~~666.3585	2,~~310~~282,~~283~~196.4885	3,~~892~~850,~~516~~863.8370
				Page 5 of 24				© COPYRIGHT 2003 Deutsche Bank
				Page 5 of 25				© COPYRIGHT 2003 Deutsche Bank
	Morgan Stanley ABS Capital I Inc. 2003-HE2
	Mortgage Pass-Through Certificates
	Collection Account Report for September 25, 2003 Distribution
	Collection Account Report for October 27, 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					1514,~~967~~166.2906	2420,~~741~~754.4183	4034,~~708~~920.7089
	Trustee Fees					1,~~525~~514.5122	2,~~219~~194.2583	3,~~744~~709.7605
	TOTAL INTEREST OTHER FEES					1715,~~492~~680.8028	2622,~~960~~949.66	4438,~~453~~629.4694
				Page 6 of 24				© COPYRIGHT 2003 Deutsche Bank
				Page 6 of 25				© COPYRIGHT 2003 Deutsche Bank
	Morgan Stanley ABS Capital I Inc. 2003-HE2
	Mortgage Pass-Through Certificates
	Credit Enhancement Report for September 25, 2003 Distribution
	Credit Enhancement Report for October 27, 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							9,~~362~~361,~~306~~909.4060
	Ending Subordinated Amount							9,361,909.60
	Specified Subordinated Amount							9,361,909.60
	Senior Enhancement Percentage							19.1841%
				Page 7 of 24				© COPYRIGHT 2003 Deutsche Bank
				Page 7 of 25				© COPYRIGHT 2003 Deutsche Bank
	Morgan Stanley ABS Capital I Inc. 2003-HE2
	Mortgage Pass-Through Certificates
	Collateral Report for September 25, 2003 Distribution
	Collateral Report for October 27, 2003 Distribution
	Collateral Report
COLLATERAL						GROUP 2	GROUP 1	TOTAL
	Loan Count:
	Original					1903	2647	4550
	Prior					-1,888	-2,624	-4,512
	Prefunding					-	-	-
	Scheduled Paid Offs					-	-	-
	Full Voluntary Prepayments					(1520)	(2326)	(3846)
	Repurchases					-	-	-
	Liquidations					-	-	-
	Current					1,~~888~~868	2,~~624~~598	4,~~512~~466
	Principal Balance:
	Original					254,251,979.56	369,875,326.84	624,127,306.40
	Prior					-252,369,717.85	-365,804,936.92	-618,174,654.77
	Prefunding					-	-	-
	Scheduled Principal					(214,~~318~~424.3639)	(277,~~819~~263.8500)	(~~492~~491,~~138~~687.2139)
	Partial and Full Voluntary Prepayments					(12,~~667~~403,~~943~~272.3505)	(34,~~792~~192,~~570~~718.0718)	(56,~~460~~595,~~513~~990.4223)
	Repurchases					-	-	-
	Liquidations					-	-	-
	Current					~~252~~249,~~369~~752,~~717~~021.8541	~~365~~361,~~804~~334,~~936~~955.9274	~~618~~611,~~174~~086,~~654~~977.7715
PREFUNDING						GROUP 2	GROUP 1	TOTAL
SPACE INTENTIONALLY LEFT BLANK
	Group 1
	Group 2
Current Prin Balance by Groups (in millions of dollars)					Total Current Principal Balance (in millions of dollars)
				Page 8 of 24				© COPYRIGHT 2003 Deutsche Bank
				Page 8 of 25				© COPYRIGHT 2003 Deutsche Bank
	Morgan Stanley ABS Capital I Inc. 2003-HE2
	Mortgage Pass-Through Certificates
	Collateral Report for September 25, 2003 Distribution
	Collateral Report for October 27, 2003 Distribution
	Collateral Report
CHARACTERISTICS						GROUP 2	GROUP 1	TOTAL
	Weighted Average Coupon Original					7.974910%	8.002537%	7.991282%
	Weighted Average Coupon Prior					7.974910%	8.002537%	7.991282%
	Weighted Average Coupon Current					7.~~974910~~968265%	87.~~002537~~993803%	7.~~991282~~983377%
	Weighted Average Months to Maturity Original					336	349	344
	Weighted Average Months to Maturity Prior					-336	-349	-344
	Weighted Average Months to Maturity Current					~~336~~335	~~349~~348	~~344~~343
	Weighted Avg Remaining Amortization Term Original					345	352	349
	Weighted Avg Remaining Amortization Term Prior					-345	-352	-349
	Weighted Avg Remaining Amortization Term Current					~~345~~344	~~352~~351	~~349~~348
	Weighted Average Seasoning Original					4.12	4.20	4.17
	Weighted Average Seasoning Prior					-4.12	-4.20	-4.17
	Weighted Average Seasoning Current					45.1211	45.2019	45.1716
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 24				© COPYRIGHT 2003 Deutsche Bank
				Page 9 of 25				© COPYRIGHT 2003 Deutsche Bank
	Morgan Stanley ABS Capital I Inc. 2003-HE2
	Mortgage Pass-Through Certificates
	Collateral Report for September 25, 2003 Distribution
	Collateral Report for October 27, 2003 Distribution
	Collateral Report
ARM CHARACTERISTICS						GROUP 2	GROUP 1	TOTAL
	Weighted Average Margin Original					3.525%	5.394%
	Weighted Average Margin Prior					3.525%	5.394%
	Weighted Average Margin Current					3.~~525~~516%	5.~~394~~383%
	Weighted Average Max Rate Original					7.911%	12.119%
	Weighted Average Max Rate Prior					7.911%	12.119%
	Weighted Average Max Rate Current					7.~~911~~891%	12.~~119~~100%
	Weighted Average Min Rate Original					3.914%	5.947%
	Weighted Average Min Rate Prior					3.914%	5.947%
	Weighted Average Min Rate Current					3.~~914~~906%	5.~~947~~939%
	Weighted Average Cap Up Original					0.604%	0.903%
	Weighted Average Cap Up Prior					0.604%	0.903%
	Weighted Average Cap Up Current					0.604%	0.903%
	Weighted Average Cap Down Original					0.604%	0.903%
	Weighted Average Cap Down Prior					0.604%	0.903%
	Weighted Average Cap Down Current					0.604%	0.903%
Note: Original information refers to deal issue.
SERVICING FEES / ADVANCES						GROUP 2	GROUP 1	TOTAL
	Current Servicing Fees					1514,~~967~~166.2906	2420,~~741~~754.4183	4034,~~708~~920.7089
	Delinquent Servicing Fees					8990,~~971~~987.0499	~~129~~131,~~373~~663.3189	~~219~~222,~~344~~651.3588
	TOTAL SERVICING FEES					105,~~938~~154.3305	~~154~~152,~~114~~418.72	~~260~~257,~~053~~572.0577
	Prepayment Interest Shortfall					45,~~023~~164.5055	149,~~907~~673.7965	1814,~~931~~838.2920
	Compensating Interest					(45,~~023~~164.5055)	(149,~~907~~673.7965)	(1814,~~931~~838.2920)
	Delinquent Servicing Fees					(8990,~~971~~987.0499)	(~~129~~131,~~373~~663.3189)	(~~219~~222,~~344~~651.3588)
	COLLECTED SERVICING FEES					1514,~~967~~166.2906	2420,~~741~~754.4183	4034,~~708~~920.7089
	Aggregate Advances with respect to this Distribution					1,~~531~~548,~~677~~664.9887	2,~~183~~223,~~764~~490.9257	3,~~715~~772,~~442~~155.9044
	Current Nonrecoverable Advances					0.00	0.00	0.00
	Cumulative Nonrecoverable Advances					0.00	0.00	0.00
ADDITIONAL COLLATERAL INFORMATION						GROUP 2	GROUP 1	TOTAL
	Net Prepayment Interest Shortfall							0.00
	Net Monthly Excess Cash Flow							2,~~989~~890,~~793~~508.2512
	Ending Pool Stated Principal Balance					~~252~~249,~~369~~752,~~717~~021.8541	~~365~~361,~~804~~334,~~936~~955.9274	~~618~~611,~~174~~086,~~654~~977.7715
				Page 10 of 24				© COPYRIGHT 2003 Deutsche Bank
				Page 10 of 25				© COPYRIGHT 2003 Deutsche Bank
	Morgan Stanley ABS Capital I Inc. 2003-HE2
	Mortgage Pass-Through Certificates
	Delinquency Report for September 25, 2003 Distribution
	Delinquency Report for October 27, 2003 Distribution
	Delinquency Report - Total
				<1 PAYMENT	1 PAYMENT	2 PAYMENTS	3+ PAYMENTS	TOTAL
DELINQUENT		Balance			34,~~168~~398,~~688~~993.7216	-421,714.18	-	34,~~168~~820,~~688~~707.7234
		% Balance			0.5172%	0.0007%	0.00%	0.5179%
		# Loans			2835	-4	-	2839
		% # Loans			0.6278%	0.0009%	0.00%	0.6287%
FORECLOSURE		Balance		-	-	-542,767.46	-	-542,767.46
		% Balance		0.00%	0.00%	0.0009%	0.00%	0.0009%
		# Loans		-	-	-7	-	-7
		% # Loans		0.00%	0.00%	0.0016%	0.00%	0.0016%
BANKRUPTCY		Balance		~~828~~976,~~957~~849.0061	-	-	-	~~828~~976,~~957~~849.0061
		% Balance		0.1316%	0.00%	0.00%	0.00%	0.1316%
		# Loans		57	-	-	-	57
		% # Loans		0.1116%	0.00%	0.00%	0.00%	0.1116%
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		~~828~~976,~~957~~849.0061	34,~~168~~398,~~688~~993.7216	-964,481.64	-	36,~~997~~340,~~645~~324.7241
		% Balance		0.1316%	0.5172%	0.0016%	0.00%	01.6504%
		# Loans		57	2835	-11	-	3353
		% # Loans		0.1116%	0.6278%	0.0025%	0.00%	01.7319%
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 24				© COPYRIGHT 2003 Deutsche Bank
				Page 11 of 25				© COPYRIGHT 2003 Deutsche Bank
	Morgan Stanley ABS Capital I Inc. 2003-HE2
	Mortgage Pass-Through Certificates
	Delinquency Report for September 25, 2003 Distribution
	Delinquency Report for October 27, 2003 Distribution
	Delinquency Report - Group 1 Group
				<1 PAYMENT	1 PAYMENT	2 PAYMENTS	3+ PAYMENTS	TOTAL
DELINQUENT		Balance			13,~~416~~284,~~079~~826.8448	-234,181.12	-	13,~~416~~519,~~079~~007.8460
		% Balance			0.3991%	0.0006%	0.00%	0.3997%
		# Loans			1123	-1	-	1124
		% # Loans			0.4289%	0.0004%	0.00%	0.4292%
FORECLOSURE		Balance		-	-	-125,404.87	-	-125,404.87
		% Balance		0.00%	0.00%	0.0003%	0.00%	0.0003%
		# Loans		-	-	-2	-	-2
		% # Loans		0.00%	0.00%	0.0008%	0.00%	0.0008%
BANKRUPTCY		Balance		~~529~~626,~~562~~659.4904	-	-	-	~~529~~626,~~562~~659.4904
		% Balance		0.1417%	0.00%	0.00%	0.00%	0.1417%
		# Loans		45	-	-	-	45
		% # Loans		0.1519%	0.00%	0.00%	0.00%	0.1519%
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~~626,~~562~~659.4904	13,~~416~~284,~~079~~826.8448	-359,585.99	-	14,~~945~~271,~~642~~071.3351
		% Balance		0.1417%	0.3991%	0.0010%	0.00%	01.5318%
		# Loans		45	1123	-3	-	1531
		% # Loans		0.1519%	0.4289%	0.0012%	0.00%	01.5719%
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 24				© COPYRIGHT 2003 Deutsche Bank
				Page 12 of 25				© COPYRIGHT 2003 Deutsche Bank
	Morgan Stanley ABS Capital I Inc. 2003-HE2
	Mortgage Pass-Through Certificates
	Delinquency Report for September 25, 2003 Distribution
	Delinquency Report for October 27, 2003 Distribution
	Delinquency Report - Group 2 Group
				<1 PAYMENT	1 PAYMENT	2 PAYMENTS	3+ PAYMENTS	TOTAL
DELINQUENT		Balance			1,~~752~~114,~~608~~166.8868	-187,533.06	-	1,~~752~~301,~~608~~699.8874
		% Balance			0.6945%	0.0008%	0.00%	0.6952%
		# Loans			1712	-3	-	1715
		% # Loans			0.9064%	0.0016%	0.00%	0.9080%
FORECLOSURE		Balance		-	-	-417,362.59	-	-417,362.59
		% Balance		0.00%	0.00%	0.0017%	0.00%	0.0017%
		# Loans		-	-	-5	-	-5
		% # Loans		0.00%	0.00%	0.0027%	0.00%	0.0027%
BANKRUPTCY		Balance		~~299~~350,~~394~~190.5157	-	-	-	~~299~~350,~~394~~190.5157
		% Balance		0.1214%	0.00%	0.00%	0.00%	0.1214%
		# Loans		12	-	-	-	12
		% # Loans		0.0511%	0.00%	0.00%	0.00%	0.0511%
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		~~299~~350,~~394~~190.5157	1,~~752~~114,~~608~~166.8868	-604,895.65	-	2,~~052~~069,~~003~~252.3990
		% Balance		0.1214%	0.6945%	0.0024%	0.00%	0.8183%
		# Loans		12	1712	-8	-	1822
		% # Loans		0.0511%	0.9064%	0.0043%	0.00%	01.9518%
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 24				© COPYRIGHT 2003 Deutsche Bank
				Page 13 of 25				© COPYRIGHT 2003 Deutsche Bank
	Morgan Stanley ABS Capital I Inc. 2003-HE2
	Mortgage Pass-Through Certificates
	REO Report for September 25, 2003 Distribution
	REO Report for October 27, 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 24				© COPYRIGHT 2003 Deutsche Bank
				Page 14 of 25				© COPYRIGHT 2003 Deutsche Bank
	Morgan Stanley ABS Capital I Inc. 2003-HE2
	Mortgage Pass-Through Certificates
	Foreclosure Report for September 25, 2003 Distribution
	Foreclosure Report for October 27, 2003 Distribution
	Foreclosure Report - Mortgage Loans that Become Foreclosure During Current Distribution
SUMMARY				LOAN GROUP
Total Loan Count = 0				Loan Group 1 = Group 1 Group
Total Loan Count = 7				Loan Group 1 = Group 1 Group
Total Original Principal Balance = 000.00				Loan Group 2 = Group 2 Group
Total Original Principal Balance = 544,500.00				Loan Group 2 = Group 2 Group
Total Current Balance = 000.00
Total Current Balance = 542,767.46
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
127255016 1		70,500.00	70,293.20	Jun-01-03	9.625%	OH - 78.33%	360	Mar-21-03
				Page 15 of 24				© COPYRIGHT 2003 Deutsche Bank
127883502 1		55,250.00	55,111.67	Jun-01-03	10.375%	OH - 85.00%	360	Mar-26-03
125034454 2		91,800.00	91,373.79	Jun-01-03	9.950%	KY - 85.00%	360	Nov-11-02
125395921 2		35,000.00	34,834.88	Jun-01-03	9.875%	NE - 53.85%	360	Nov-15-02
127407625 2		88,000.00	87,741.88	Jun-01-03	10.375%	MI - 80.00%	360	Feb-28-03
127442234 2		120,700.00	120,372.87	Jun-01-03	10.000%	CT - 85.00%	360	Mar-24-03
127900694 2		83,250.00	83,039.17	Jun-01-03	11.375%	MO - 75.00%	360	Mar-18-03
				Page 15 of 25				© COPYRIGHT 2003 Deutsche Bank
	Morgan Stanley ABS Capital I Inc. 2003-HE2
	Mortgage Pass-Through Certificates
	Prepayment Report for September 25, 2003 Distribution
	Prepayment Report for October 27, 2003 Distribution
	Prepayment Report - Voluntary Prepayments
VOLUNTARY PREPAYMENTS						GROUP 2	GROUP 1	TOTAL
	Current
	Number of Paid in Full Loans					1520	2326	3846
	Number of Repurchased Loans					-	-	-
	Total Number of Loans Prepaid in Full					1520	2326	3846
	Paid in Full Balance					12,~~652~~388,~~186~~385.6827	34,~~756~~171,~~417~~925.9007	56,~~408~~560,~~604~~310.5834
	Repurchased Loans Balance					-	-	-
	Curtailments Amount					1514,~~756~~886.6778	3620,~~152~~793.1711	5135,~~908~~679.8489
	Total Prepayment Amount					12,~~667~~403,~~943~~272.3505	34,~~792~~192,~~570~~718.0718	56,~~460~~595,~~513~~990.4223
	Cumulative
	Number of Paid in Full Loans					1535	2349	3884
	Number of Repurchased Loans					-	-	-
	Total Number of Loans Prepaid in Full					1535	2349	3884
	Paid in Full Balance					14,~~652~~040,~~186~~571.6895	37,~~756~~928,~~417~~342.9097	511,~~408~~968,~~604~~914.5892
	Repurchased Loans Balance					-	-	-
	Curtailments Amount					1530,~~756~~643.6745	3656,~~152~~945.1728	5187,~~908~~588.8473
	Total Prepayment Amount					14,~~667~~071,~~943~~215.3540	37,~~792~~985,~~570~~288.0725	512,~~460~~056,~~513~~503.4265
SPACE INTENTIONALLY LEFT BLANK
Total Prepayments by Groups (in thousands of dollars)					Total Prepayments (in thousands of dollars)
				Page 16 of 24				© COPYRIGHT 2003 Deutsche Bank
				Page 16 of 25				© COPYRIGHT 2003 Deutsche Bank
	Morgan Stanley ABS Capital I Inc. 2003-HE2
	Mortgage Pass-Through Certificates
	Prepayment Report for September 25, 2003 Distribution
	Prepayment Report for October 27, 2003 Distribution
	Prepayment Report - Voluntary Prepayments
VOLUNTARY PREPAYMENT RATES						GROUP 2	GROUP 1	TOTAL
	SMM					0.6695%	1.0315%	01.8807%
	3 Months Avg SMM
	12 Months Avg SMM
	Avg SMM Since Cut-off					0.6680%	1.0309%	0.8897%
	CPR					710.6086%	1112.6493%	1012.0209%
	3 Months Avg CPR
	12 Months Avg CPR
	Avg CPR Since Cut-off					79.6024%	1112.6429%	1011.0206%
	PSA					~~923~~1061.5182%	~~1384~~1244.6465%	~~1201~~1171.5924%
	3 Months Avg PSA Approximation
	12 Months Avg PSA Approximation
	Avg PSA Since Cut-off Approximation					~~923~~1001.5172%	~~1384~~1307.6452%	~~1201~~1185.5945%
	Group 1
	Group 2
CPR by Groups					Total CPR
PSA by Groups					Total PSA
				Page 17 of 24				© COPYRIGHT 2003 Deutsche Bank
				Page 17 of 25				© COPYRIGHT 2003 Deutsche Bank
	Morgan Stanley ABS Capital I Inc. 2003-HE2
	Mortgage Pass-Through Certificates
	Prepayment Report for September 25, 2003 Distribution
	Prepayment Report for October 27, 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 24				© COPYRIGHT 2003 Deutsche Bank
				Page 18 of 25				© COPYRIGHT 2003 Deutsche Bank
	Morgan Stanley ABS Capital I Inc. 2003-HE2
	Mortgage Pass-Through Certificates
	Prepayment Detail Report for September 25, 2003 Distribution
	Prepayment Detail Report for October 27, 2003 Distribution
	Prepayment Detail Report - Loans Prepaid in Full During Current Distribution
SUMMARY						LOAN GROUP
Total Loan Count = 38						Loan Group 1 = Group 1 Group
Total Loan Count = 46						Loan Group 1 = Group 1 Group
Total Original Principal Balance = 5,429,845.00						Loan Group 2 = Group 2 Group
Total Original Principal Balance = 6,578,143.00						Loan Group 2 = Group 2 Group
Total Prepayment Amount = 5,408,604.58
Total Prepayment Amount = 6,560,310.34
Loan Number			Original			Current	State &	Type Prepayment
&		Loan	Principal	Prepayment	Prepayment	Note	LTV at	&	Origination
Loan Group		Status	Balance	Amount	Date	Rate	Origination	Original Term	Date
122725443 1			92,000.00	91,601.40	Aug-20-03	10.750%	AZ - 80.00%	Paid Off - 360	Aug-01-02
123290744 1			244,000.00	242,787.93	Sep-09-03	9.625%	NY - 80.00%	Paid Off - 360	Oct-31-02
123720583 1			47,000.00	45,885.88	Aug-27-03	10.625%	NC - 63.51%	Paid Off - 180	Sep-27-02
125359984 1			130,000.00	129,587.74	Sep-25-03	9.250%	WI - 60.47%	Paid Off - 360	Feb-28-03
126020346 1			208,000.00	205,533.47	Aug-05-03	9.875%	CA - 80.00%	Paid Off - 360	Jan-29-03
125883645 1			174,000.00	173,628.86	Sep-26-03	10.250%	MA - 75.00%	Paid Off - 360	Mar-25-03
126361104 1			200,000.00	199,616.67	Aug-25-03	10.750%	DE - 13.33%	Paid Off - 360	Feb-28-03
126380542 1			180,000.00	179,422.36	Sep-08-03	9.950%	NJ - 50.65%	Paid Off - 360	Jan-15-03
126758846 1			87,750.00	87,473.39	Aug-04-03	9.750%	MO - 65.00%	Paid Off - 360	Jan-31-03
126381359 1			315,000.00	313,830.08	Sep-23-03	9.250%	DC - 78.75%	Paid Off - 360	Jan-30-03
126828433 1			258,300.00	257,714.27	Aug-11-03	8.875%	NV - 90.00%	Paid Off - 360	Mar-26-03
126585025 1			73,500.00	73,163.91	Sep-24-03	7.875%	MO - 69.34%	Paid Off - 360	Feb-14-03
126906643 1			155,000.00	154,568.63	Aug-20-03	9.875%	MI - 57.41%	Paid Off - 360	Jan-31-03
126627678 1			168,000.00	167,344.82	Sep-19-03	8.500%	IL - 80.00%	Paid Off - 360	Feb-12-03
126981943 1			25,000.00	24,129.47	Aug-08-03	10.625%	NY - 44.64%	Paid Off - 360	Feb-11-03
126994516 1			71,000.00	70,817.45	Sep-24-03	10.250%	IA - 58.20%	Paid Off - 360	Feb-24-03
127034007 1			135,150.00	133,435.35	Aug-05-03	9.625%	VA - 85.00%	Paid Off - 180	Feb-17-03
127146702 1			277,100.00	276,424.63	Sep-12-03	10.500%	WY - 85.00%	Paid Off - 360	Feb-24-03
127099943 1			183,200.00	182,776.91	Aug-04-03	9.875%	CA - 80.00%	Paid Off - 360	Feb-18-03
127379311 1			170,100.00	169,658.11	Sep-25-03	9.950%	WI - 90.00%	Paid Off - 360	Mar-28-03
127316289 1			289,750.00	289,058.30	Aug-28-03	8.625%	CT - 95.00%	Paid Off - 360	Mar-31-03
127436756 1			85,000.00	84,798.43	Sep-03-03	9.750%	FL - 85.00%	Paid Off - 360	Mar-24-03
127346443 1			60,500.00	60,102.24	Aug-08-03	10.750%	NJ - 69.54%	Paid Off - 360	Mar-28-03
127500908 1			170,000.00	169,552.49	Sep-19-03	9.250%	CA - 31.48%	Paid Off - 360	Mar-20-03
127381614 1			195,000.00	194,522.39	Aug-06-03	8.500%	MD - 60.19%	Paid Off - 360	Mar-11-03
127514321 1			199,000.00	198,388.61	Sep-10-03	8.500%	VA - 61.23%	Paid Off - 360	Mar-27-03
127615128 1			215,600.00	214,969.82	Aug-06-03	7.625%	NC - 80.75%	Paid Off - 360	Mar-22-03
127732659 1			200,700.00	200,069.34	Sep-26-03	9.250%	CA - 90.00%	Paid Off - 360	Mar-25-03
127676542 1			70,000.00	69,843.71	Aug-21-03	8.950%	VA - 42.94%	Paid Off - 360	Mar-21-03
127983757 1			180,000.00	179,584.31	Sep-29-03	9.875%	MS - 80.00%	Paid Off - 360	Mar-24-03
127939643 1			256,000.00	254,963.14	Aug-01-03	5.950%	DC - 80.00%	Paid Off - 360	Mar-27-03
128108982 1			103,200.00	102,821.73	Sep-25-03	7.625%	IL - 80.00%	Paid Off - 360	Mar-28-03
128032687 1			250,000.00	249,287.30	Aug-08-03	7.750%	MA - 58.14%	Paid Off - 360	Mar-26-03
128308426 1			141,600.00	141,080.99	Sep-03-03	7.625%	FL - 80.00%	Paid Off - 360	Mar-28-03
128125002 1			270,000.00	269,287.42	Aug-04-03	8.950%	OK - 90.00%	Paid Off - 360	Mar-25-03
125155788 2			65,000.00	64,660.27	Sep-10-03	8.250%	CA - 34.76%	Paid Off - 360	Dec-11-02
128419983 1			246,000.00	245,178.29	Aug-20-03	6.950%	LA - 60.00%	Paid Off - 360	Mar-28-03
126667625 2			130,233.00	130,040.78	Sep-03-03	11.950%	IL - 85.00%	Paid Off - 360	Mar-20-03
122716483 2			99,900.00	99,264.72	Aug-13-03	9.250%	NV - 67.96%	Paid Off - 360	Aug-28-02
126740729 2			179,000.00	178,618.21	Sep-09-03	11.125%	CA - 79.56%	Paid Off - 360	Feb-06-03
123295453 2			52,200.00	52,055.97	Aug-19-03	12.375%	MN - 75.00%	Paid Off - 360	Sep-16-02
126800838 2			195,000.00	194,561.46	Sep-30-03	10.875%	CA - 73.58%	Paid Off - 360	Feb-18-03
126392729 2			30,000.00	29,914.98	Aug-04-03	9.950%	VA - 61.22%	Paid Off - 360	Feb-07-03
127032522 2			157,250.00	156,923.89	Sep-02-03	11.250%	MN - 85.00%	Paid Off - 360	Feb-24-03
126944974 2			88,900.00	88,689.22	Aug-18-03	9.750%	VA - 70.00%	Paid Off - 360	Feb-13-03
127147874 2			56,000.00	55,845.17	Sep-18-03	11.125%	OH - 80.00%	Paid Off - 360	Feb-19-03
126997014 2			66,300.00	66,209.18	Aug-12-03	11.250%	OH - 85.00%	Paid Off - 360	Mar-31-03
127218113 2			100,300.00	100,132.87	Sep-30-03	12.250%	MI - 85.00%	Paid Off - 360	Feb-21-03
127455079 2			219,800.00	216,910.74	Aug-25-03	6.625%	CA - 70.00%	Paid Off - 180	Mar-25-03
127280659 2			87,500.00	87,297.91	Sep-09-03	9.875%	SC - 70.00%	Paid Off - 360	Mar-26-03
127653954 2			84,000.00	83,708.22	Aug-21-03	6.750%	OH - 80.00%	Paid Off - 360	Mar-28-03
127718468 2			72,250.00	72,095.88	Sep-23-03	10.250%	TN - 85.00%	Paid Off - 360	Mar-07-03
127831055 2			228,000.00	227,661.27	Aug-08-03	10.875%	CA - 80.00%	Paid Off - 360	Mar-19-03
5344638 3			240,000.00	239,532.99	Oct-01-03	8.200%	MA - 56.47%	Paid Off - 360	May-15-03
127843878 2			390,000.00	389,020.14	Aug-28-03	8.375%	MI - 65.00%	Paid Off - 360	Mar-26-03
5388627 3			129,000.00	128,551.94	Oct-01-03	6.750%	CA - 51.60%	Paid Off - 360	May-06-03
128306313 2			56,000.00	55,813.85	Aug-18-03	8.500%	OH - 69.14%	Paid Off - 360	Mar-26-03
5453097 3			50,100.00	50,019.81	Oct-01-03	9.150%	FL - 55.67%	Paid Off - 360	May-21-03
5070066 3			101,000.00	100,918.49	Sep-01-03	10.450%	NJ - 69.66%	Paid Off - 360	May-30-03
5476992 3			112,000.00	111,805.26	Oct-01-03	8.750%	TX - 80.00%	Paid Off - 360	Jun-03-03
5489466 3			154,000.00	153,903.25	Sep-01-03	11.600%	FL - 78.97%	Paid Off - 360	May-30-03
5577845 3			72,500.00	72,411.85	Oct-01-03	10.450%	MO - 72.50%	Paid Off - 360	May-14-03
5626684 3			112,000.00	111,867.95	Sep-01-03	8.650%	CA - 67.88%	Paid Off - 360	Jun-03-03
5623073 3			240,800.00	240,204.40	Oct-01-03	7.000%	TX - 80.00%	Paid Off - 360	May-29-03
5702151 3			160,000.00	159,780.16	Sep-01-03	7.900%	TX - 89.89%	Paid Off - 360	May-30-03
5630983 3			161,200.00	160,764.68	Oct-01-03	6.550%	WA - 80.00%	Paid Off - 360	May-29-03
5089026 4			57,000.00	56,889.09	Sep-01-03	8.200%	MO - 75.00%	Paid Off - 360	Apr-30-03
5670942 3			141,500.00	141,146.54	Oct-01-03	6.950%	TX - 73.70%	Paid Off - 360	May-29-03
5178010 4			54,600.00	54,465.24	Sep-01-03	9.300%	TX - 58.71%	Paid Off - 360	Apr-28-03
5679478 3			155,000.00	154,525.81	Oct-01-03	5.900%	IL - 54.96%	Paid Off - 360	Jun-02-03
5186846 4			34,645.00	34,614.94	Sep-01-03	12.000%	WV - 65.00%	Paid Off - 360	Apr-30-03
5250641 4			114,750.00	114,524.42	Oct-01-03	8.150%	NY - 85.00%	Paid Off - 360	May-21-03
5266599 4			123,250.00	123,018.79	Sep-01-03	8.380%	RI - 85.00%	Paid Off - 360	May-06-03
5271371 4			117,600.00	117,365.51	Oct-01-03	8.080%	IL - 80.00%	Paid Off - 360	May-21-03
5568293 4			74,000.00	73,950.33	Sep-01-03	11.300%	CA - 44.85%	Paid Off - 360	Jun-03-03
5532965 4			56,800.00	56,682.07	Oct-01-03	7.880%	OH - 80.00%	Paid Off - 360	May-15-03
					Page 19 of 24				© COPYRIGHT 2003 Deutsche Bank
5548314 4			35,100.00	35,028.60	Oct-01-03	9.400%	OH - 90.00%	Paid Off - 360	May-09-03
5550173 4			127,500.00	127,351.52	Oct-01-03	10.650%	TX - 74.13%	Paid Off - 360	May-14-03
5622816 4			110,500.00	110,340.72	Oct-01-03	9.650%	GA - 85.00%	Paid Off - 360	May-29-03
5672058 4			140,000.00	139,618.24	Oct-01-03	6.500%	CA - 66.67%	Paid Off - 360	May-30-03
303189578 4			113,050.00	112,684.55	Oct-01-03	8.250%	FL - 85.00%	Paid Off - 360	Mar-28-03
303190412 4			89,550.00	89,244.87	Oct-01-03	7.990%	TX - 66.33%	Paid Off - 360	Mar-31-03
					Page 19 of 25				© COPYRIGHT 2003 Deutsche Bank
	Morgan Stanley ABS Capital I Inc. 2003-HE2
	Mortgage Pass-Through Certificates
	Realized Loss Report for September 25, 2003 Distribution
	Prepayment Detail Report for October 27, 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
304222053 4			319,200.00	318,329.60	Oct-01-03	6.500%	CA - 80.00%	Paid Off - 360	May-16-03
304285595 4			127,260.00	127,038.73	Oct-01-03	8.750%	MD - 70.70%	Paid Off - 180	May-19-03
					Page 20 of 25				© COPYRIGHT 2003 Deutsche Bank
	Morgan Stanley ABS Capital I Inc. 2003-HE2
	Mortgage Pass-Through Certificates
	Realized Loss Report for October 27, 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.
	Applied Realized Loss Amount Current							0.00
	Applied Realized Loss Amount Aggregate							0.00
	Cumulative Loss Percentage							0.00%
	Group 1						3 Months Moving Average
	Group 2
Collateral Loss Severity Approximation by Groups					Collateral Loss Severity Approximation
				Page 20 of 24				© COPYRIGHT 2003 Deutsche Bank
				Page 21 of 25				© COPYRIGHT 2003 Deutsche Bank
	Morgan Stanley ABS Capital I Inc. 2003-HE2
	Mortgage Pass-Through Certificates
	Realized Loss Report for September 25, 2003 Distribution
	Realized Loss Report for October 27, 2003 Distribution
	Realized Loss Report - Collateral
DEFAULT SPEEDS						GROUP 2	GROUP 1	TOTAL
	MDR					0.00%	0.00%	0.00%
	3 Months Avg MDR
	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
	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
	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 21 of 24				© COPYRIGHT 2003 Deutsche Bank
				Page 22 of 25				© COPYRIGHT 2003 Deutsche Bank
	Morgan Stanley ABS Capital I Inc. 2003-HE2
	Mortgage Pass-Through Certificates
	Realized Loss Report for September 25, 2003 Distribution
	Realized Loss Report for October 27, 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 22 of 24				© COPYRIGHT 2003 Deutsche Bank
				Page 23 of 25				© COPYRIGHT 2003 Deutsche Bank
	Morgan Stanley ABS Capital I Inc. 2003-HE2
	Mortgage Pass-Through Certificates
	Realized Loss Detail Report for September 25, 2003 Distribution
	Realized Loss Detail Report for October 27, 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 23 of 24				© COPYRIGHT 2003 Deutsche Bank
					Page 24 of 25				© COPYRIGHT 2003 Deutsche Bank
	Morgan Stanley ABS Capital I Inc. 2003-HE2
	Mortgage Pass-Through Certificates
	Triggers, Adj. Rate Cert. and Miscellaneous Report for September 25, 2003 Distribution
	Triggers, Adj. Rate Cert. and Miscellaneous Report for October 27, 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
	(i) Does (a) equal or exceed (b)?							No
	(a) the quotient of (x) over (y)							0.0008%
	(x) 60+ DQ 3Mo Avg Bal							0482,240.0082
	(y) ending Stated Prin Bal							~~618~~611,~~174~~086,~~654~~977.7715
	(b) 40% of Prior Period Senior Enhancement Perc							87.0067%
	(ii) Does (x) divided by (y) exceed Loss Trigger Threshold Percentage?							No
	(x) Aggregate Realized Losses to date							0.00
	(y) Cut-off Balance							624,127,306.40
	Loss Trigger Threshold Percentage							100.00%
	Senior Enhancement Percentage (Prior)							2019.0018%
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 24 of 24				© COPYRIGHT 2003 Deutsche Bank
				Page 25 of 25				© COPYRIGHT 2003 Deutsche Bank

Filing Compare · MORGAN STANLEY ABS CAPITAL I INC TRUST 2003-HE2