UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K ~~Current~~CURRENT ~~Report~~REPORT Pursuant Toto Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): ~~April~~September 2627, 2004 (Date of earliest event reported) MORGAN STANLEY ABS CAPITAL I INC. (as Depositor, ~~Bank~~under ofthe ~~America~~Pooling ~~as Servicer~~Agreement, ~~Washington~~dated ~~Mutual~~ as ~~Servicer~~January 1, ~~Wilshire~~2004, ~~Credit~~providing ~~Corporation~~for asthe ~~Servicer~~issuance ~~and~~of ~~Deutsche~~Morgan ~~Bank~~Stanley ~~National Trust Company, as Trustee MORGAN STANLEY~~ ABS ~~CAPITAL~~Capital I ~~INC~~Inc. ~~TRUST~~Trust, ~~SERIES~~Series 2004 -SD1) (Exact name of ~~Registrant~~registrant as specified in ~~its Charter~~charter) DELAWARE (State or Other Jurisdiction of Incorporation) 333-104046-18 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~~(Former 5name or former address, if changed since last report.) ~~Other~~Check ~~Events~~the ~~Attached~~appropriate ~~hereto~~box below if the Form 8-K filing is aintended ~~copy~~to simultaneously satisfy the filing obligation of the ~~Monthly~~registrant ~~Remittance~~under ~~Statements~~any of the following provisions (see General Instruction A.2. below): [ ] Written communications pursuant to Rule 425 under the ~~Certificateholders~~Securities ~~which~~Act ~~was~~(17 ~~derived~~CFR ~~from~~230.425) [ ] Soliciting material pursuant to Rule 14a-12(b) under the ~~monthly~~Exchange ~~information~~Act ~~submitted~~(17 byCFR 240.14a-12(b)) [ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the ~~Master~~Exchange ~~Servicer~~Act of(17 CFR 240.14d-2(b)) [ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the ~~Trust~~Exchange Act (17 CFR 240.13e-4(c)) Item 8.01 Other Events. This current report on Form 8-K relates to the ~~Trustee~~monthly distribution reported to the holders of Morgan Stanley ABS Capital I Inc. Trust, Series 2004-SD1, which was made on January 1, 2004 Item 79.01 Financial ~~Statement~~Statements and Exhibits. ~~Exhibits:~~ (asc) ~~noted~~Exhibits inExhibit ~~Item~~No. 5Description ~~above)~~99.1 Monthly Remittance Statement to the Certificateholders dated as of ~~April~~September 2627, 2004. ~~SIGNATURE~~SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on ~~its~~ behalf of the Registrant by the undersigned, ~~hereunto~~thereunto duly authorized. ~~Deutsche~~DEUTSCHE ~~Bank~~BANK ~~National~~NATIONAL ~~Trust~~TRUST ~~Company~~COMPANY, ~~not~~IN inITS ~~its~~CAPACITY ~~individual~~AS ~~capacity,~~TRUSTEE ~~but~~UNDER ~~solely~~THE asPOOLING aAGREEMENT ~~duly~~ON ~~authorized~~BEHALF ~~agent~~OF ofMORGAN ~~the~~STANLEY ~~Registrant~~ABS ~~pursuant~~CAPITAL toI ~~the Pooling and Servicing Agreement~~INC., ~~dated~~REGISTRANT ~~as of January 1,2004.~~ Date: ~~Apr~~Sep 2627, 2004 By: /s/ Katherine M. Wannenmacher Katherine M. Wannenmacher Vice President EXHIBIT INDEX DOCUMENT 99.1 Monthly Remittance Statement to the Certificateholders dated as of ~~April~~September 2627, 2004.

	Morgan Stanley ABS Capital I Inc. 2004-SD1
	Mortgage Pass-Through Certificates
	April 26, 2004 Distribution
	September 27, 2004 Distribution
	Contents
			TABLE OF CONTENTS
								Page
			1.	Contents				1
			2.	Certificate Payment Report				2
			3.	Collection Account Report				6
			4.	Credit Enhancement Report				9
			5.	Collateral Report				10
			6.	Delinquency Report				13
			7.	REO Report				17
			8.	Foreclosure Report				18
			9.	Prepayment Report				19
			10.	Prepayment Detail Report				22
			11.	Realized Loss Report				23
			12.	Realized Loss Detail Report				26
			13.	Triggers, Adj. Rate Cert. and Miscellaneous Report				27
				Total Number of Pages				27
			CONTACTS
				Administrator: Jeremy Conyers
				Administrator: Kumar Khambhaita
				Direct Phone Number: (714)247-6274
				Direct Phone Number: (714)247-6327
				Address: Deutsche Bank
				1761 E. St. Andrew Place, Santa Ana, CA 92705
				Web Site: https://www.corporatetrust.db.com/invr
				Factor Information: (800) 735-7777
				Main Phone Number: (714) 247-6000
ISSUANCE INFORMATION
	Seller:		Morgan Stanley					Cut-Off Date: January 1, 2004
	Certificate Insurer(s):							Closing Date: January 30, 2004
								First Payment Date: February 25, 2004
	Servicer(s):		Bank of America NT&SA Master Servicer
			Washington Mutual Bank Master Servicer
			Wilshire Credit Corp Master Servicer
								Distribution Date: April 26, 2004
								Distribution Date: September 27, 2004
	Underwriter(s):		Morgan Stanley Dean Witter					Record Date: ~~April~~September 2324, 2004
			Utendahl Capital Partners, L.P.
			Blaylock & Partners, L.P.
						Page 1 of 27					© COPYRIGHT 2004 Deutsche Bank
	Morgan Stanley ABS Capital I Inc. 2004-SD1
	Mortgage Pass-Through Certificates
	REMIC II Series 2004-SD1
	Certificate Payment Report for April 26, 2004 Distribution
	Certificate Payment Report for September 27, 2004 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		230,065,000.00			~~217~~168,~~257~~131,~~162~~689.6546	~~287~~310,~~745~~553.0424	8,~~902~~074,~~060~~497.3599	98,~~189~~385,~~805~~051.3923	-	-	~~208~~160,~~355~~057,~~102~~191.3047
M-1		10,517,000.00			10,517,000.00	1622,~~733~~317.7295	-	1622,~~733~~317.7295	-	-	10,517,000.00
M-2		8,545,000.00			8,545,000.00	2025,~~432~~182.0483	-	2025,~~432~~182.0483	-	-	8,545,000.00
B		8,545,000.00			8,545,000.00	2530,~~369~~274.1622	-	2530,~~369~~274.1622	-	-	8,545,000.00
X		5,261,431.79			5,258,670.64	~~954~~651,~~949~~144.6244	-	~~954~~651,~~949~~144.6244	-	-	5,258,670.64
UT-R		-			-	-	-	-	-	-	-
P		100.00			100.00	4338,~~351~~466.2269	-	4338,~~351~~466.2269	-	-	100.00
Total		262,933,531.79			~~250~~200,~~122~~997,~~933~~460.2910	1,~~348~~077,~~580~~939.8037	8,~~902~~074,~~060~~497.3599	109,~~250~~152,~~641~~437.1536	-	-	~~241~~192,~~220~~922,~~872~~962.9411
	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	0308/25/04	0409/2526/04		A-Act/360	61744CBD7	230,065,000.00	~~944~~730.~~329484~~800815	1.~~250712~~349850	3835.~~693675~~096594	3936.~~944387~~446444	~~905~~695.~~635809~~704220
M-1	0308/25/04	0409/2526/04		A-Act/360	61744CBE5	10,517,000.00	1,000.000000	12.~~591112~~122083	-	12.~~591112~~122083	1,000.000000
M-2	0308/25/04	0409/2526/04		A-Act/360	61744CBF2	8,545,000.00	1,000.000000	2.~~391111~~947084	-	2.~~391111~~947084	1,000.000000
B	0308/25/04	0409/2526/04		A-Act/360	61744CBG0	8,545,000.00	1,000.000000	23.~~968889~~542916	-	23.~~968889~~542916	1,000.000000
X	0308/25/04	0409/2526/04		A-Act/360	MS04S1101	5,261,431.79	4839,~~538~~201.~~423403~~521368	~~181~~123.~~499953~~758031	-	~~181~~123.~~499953~~758031	4637,~~846~~666.~~477046~~863443
UT-R	0308/25/04	0409/2526/04		A-Act/360	MS04S1103	-	-	-	-	-	-
P	0308/25/04	0409/2526/04		A-Act/360	MS04S1102	100.00	1,000.000000	~~433~~384,~~512~~666.~~200000~~900000	-	~~433~~384,~~512~~666.~~200000~~900000	1,000.000000
							Page 2 of 27				© COPYRIGHT 2004 Deutsche Bank
	Morgan Stanley ABS Capital I Inc. 2004-SD1
	Mortgage Pass-Through Certificates
	REMIC II Series 2004-SD1
	Certificate Payment Report for April 26, 2004 Distribution
	Certificate Payment Report for September 27, 2004 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	230,065,000.00		~~805~~2,~~456~~158,656.9482		2067,~~688~~452,~~169~~745.1424	12,~~021~~555,~~728~~063.5629	2170,~~709~~007,~~897~~808.7053	2272,~~515~~166,~~354~~465.6435	-	-	~~208~~160,~~355~~057,~~102~~191.3047
M-1	10,517,000.00		45136,~~570~~395.7527		-	-	-	45136,~~570~~395.7527	-	-	10,517,000.00
M-2	8,545,000.00		55162,~~611~~303.3397		-	-	-	55162,~~611~~303.3397	-	-	8,545,000.00
B	8,545,000.00		69199,~~034~~486.1158		-	-	-	69199,~~034~~486.1158	-	-	8,545,000.00
X	5,261,431.79		37,~~050~~034,~~467~~568.9093		2,612.21	148.94	2,761.15	37,~~053~~037,~~229~~330.0508	-	-	5,258,670.64
UT-R	-		-		-	-	-	-	-	-	-
P	100.00		~~114~~322,~~590~~617.9017		-	-	-	~~114~~322,~~590~~617.9017	-	-	100.00
Total	262,933,531.79		410,~~140~~014,~~731~~028.9374		2067,~~690~~455,~~781~~357.3545	12,~~021~~555,~~877~~212.5023	2170,~~712~~010,~~658~~569.8568	2580,~~853~~024,~~390~~598.7842	-	-	~~241~~192,~~220~~922,~~872~~962.9411
	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	12.~~49000~~01500%	~~217~~168,~~257~~131,~~162~~689.6546			~~287~~310,~~745~~553.0424	-	-	-	~~287~~310,~~745~~553.0424	~~287~~310,~~745~~553.0424	-
M-1	12.~~79000~~31500%	10,517,000.00			1622,~~733~~317.7295	-	-	-	1622,~~733~~317.7295	1622,~~733~~317.7295	-
M-2	23.~~69000~~21500%	8,545,000.00			2025,~~432~~182.0483	-	-	-	2025,~~432~~182.0483	2025,~~432~~182.0483	-
B	3.~~34000~~86500%	8,545,000.00			2530,~~369~~274.1622	-	-	-	2530,~~369~~274.1622	2530,~~369~~274.1622	-
X	43.~~58182~~93175%	~~255~~206,~~381~~256,~~603~~130.9374			~~954~~651,~~949~~144.6244	-	-	-	~~954~~651,~~949~~144.6244	~~954~~651,~~949~~144.6244	-
UT-R		-			-	-	-	-	-	-	-
P		100.00			4338,~~351~~466.2269	-	-	-	4338,~~351~~466.2269	4338,~~351~~466.2269	-
Total		~~500~~401,~~245~~994,~~866~~920.5820			1,~~348~~077,~~580~~939.8037	-	-	-	1,~~348~~077,~~580~~939.8037	1,~~348~~077,~~580~~939.8037	-
							Page 3 of 27				© COPYRIGHT 2004 Deutsche Bank
	Morgan Stanley ABS Capital I Inc. 2004-SD1
	Mortgage Pass-Through Certificates
	REMIC I Series 2004-SD1
	Certificate Payment Report for April 26, 2004 Distribution
	Certificate Payment Report for September 27, 2004 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)
REMIC I		262,933,531.79			~~250~~200,~~122~~997,~~933~~460.2910	1,~~348~~077,~~580~~939.8037	8,~~902~~074,~~060~~497.3599	109,~~250~~152,~~641~~437.1536	-	-	~~241~~192,~~220~~922,~~872~~962.9411
Total		262,933,531.79			~~250~~200,~~122~~997,~~933~~460.2910	1,~~348~~077,~~580~~939.8037	8,~~902~~074,~~060~~497.3599	109,~~250~~152,~~641~~437.1536	-	-	~~241~~192,~~220~~922,~~872~~962.9411
	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)
REMIC I	0308/25/04	0409/2526/04		A-Act/360		262,933,531.79	~~951~~764.~~278186~~442096	54.~~128980~~099665	3330.~~856695~~709274	3834.~~985675~~808939	~~917~~733.~~421492~~732821
							Page 4 of 27				© COPYRIGHT 2004 Deutsche Bank
	Morgan Stanley ABS Capital I Inc. 2004-SD1
	Mortgage Pass-Through Certificates
	REMIC I Series 2004-SD1
	Certificate Payment Report for April 26, 2004 Distribution
	Certificate Payment Report for September 27, 2004 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)
REMIC I	262,933,531.79		410,~~140~~014,~~731~~028.9374		2067,~~690~~416,~~781~~583.3526	12,~~021~~593,~~877~~986.5042	2170,~~712~~010,~~658~~569.8568	2580,~~853~~024,~~390~~598.7842	-	-	~~241~~192,~~220~~922,~~872~~962.9411
Total	262,933,531.79		410,~~140~~014,~~731~~028.9374		2067,~~690~~416,~~781~~583.3526	12,~~021~~593,~~877~~986.5042	2170,~~712~~010,~~658~~569.8568	2580,~~853~~024,~~390~~598.7842	-	-	~~241~~192,~~220~~922,~~872~~962.9411
	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)
REMIC I	6.~~26234~~25016%	~~250~~200,~~122~~997,~~933~~460.2910			1,~~348~~077,~~580~~939.8037	-	-	-	1,~~348~~077,~~580~~939.8037	1,~~348~~077,~~580~~939.8037	-
Total		~~250~~200,~~122~~997,~~933~~460.2910			1,~~348~~077,~~580~~939.8037	-	-	-	1,~~348~~077,~~580~~939.8037	1,~~348~~077,~~580~~939.8037	-
							Page 5 of 27				© COPYRIGHT 2004 Deutsche Bank
	Morgan Stanley ABS Capital I Inc. 2004-SD1
	Mortgage Pass-Through Certificates
	Collection Account Report for April 26, 2004 Distribution
	Collection Account Report for September 27, 2004 Distribution
	Collection Account Report
SUMMARY					B OF A	WAMU	WILSHIRE	TOTAL
	Principal Collections				2,~~709~~833,~~154~~189.6056	1667,~~580,205~~620.0322	4,~~612~~565,~~700~~590.7260	8,~~902~~066,~~060~~400.3538
	Principal Other Accounts				0.00	0.00	0.00	0.00
	TOTAL NET PRINCIPAL				2,~~709~~833,~~154~~189.6056	1667,~~580,205~~620.0322	4,~~612~~565,~~700~~590.7260	8,~~902~~066,~~060~~400.3538
	Interest Collections				~~404~~338,~~967~~654.0259	~~245~~192,~~033~~223.8138	~~666~~526,~~661~~423.3736	1,~~316~~057,~~662~~301.2033
	Interest Withdrawals				0.00	0.00	0.00	0.00
	Interest Fees				(2,~~797~~574.8190)	(21,~~443~~996.4709)	(65,~~191~~160.3405)	(119,~~432~~731.6204)
	TOTAL NET INTEREST				~~402~~336,~~169~~079.2169	~~242~~190,~~590~~227.3429	~~660~~521,~~470~~263.0331	1,~~305~~047,~~229~~570.5829
	TOTAL PRINCIPAL & INTEREST DISTRIBUTABLE				3,~~111~~169,~~323~~269.8125	1857,~~822,795~~847.3751	5,~~273~~086,~~170~~853.7591	109,~~207~~113,~~289~~970.9367
	Prepayment Penalties Collected				0.00	0.00	4338,~~351~~466.2269	4338,~~351~~466.2269
	TOTAL AVAILABLE FUNDS FOR DISTRIBUTION				3,~~111~~169,~~323~~269.8125	1857,~~822,795~~847.3751	5,~~316~~125,~~521~~320.9760	109,~~250~~152,~~641~~437.1536
	NOTE: Grp1 = Wilshire, Grp2 = WAMU, Grp3 = B of A
PRINCIPAL - COLLECTIONS					B OF A	WAMU	WILSHIRE	TOTAL
	Scheduled Principal Received				~~175~~153,~~668~~735.4219	6458,~~657~~447.3516	9577,~~340~~714.4416	~~335~~289,~~666~~896.2151
	Prepayments In Full				2,~~516~~616,~~411~~917.3581	1593,~~469,369~~795.3401	4,~~502~~344,~~880~~469.6209	87,~~488~~555,~~661~~181.3191
	Curtailments				1762,~~074~~536.8356	4615,~~178~~378.3405	144,~~479~~890.6665	7782,~~732~~805.8326
	Liquidations				0.00	0.00	0146,614.0031	0146,614.0031
	Insurance Principal				0.00	0.00	0.00	0.00
	Repurchased Principal Amounts				0.00	0.00	0.00	0.00
	Other Principal				0.00	0.00	0.00	0.00
	Total Realized Loss Of Principal				0.00	0.00	0(8,097.0061)	0(8,097.0061)
	Delinquent Principal				(~~161~~143,~~786~~163.5504)	(5547,~~521~~111.9241)	(8570,~~006~~029.5123)	(~~302~~260,~~314~~303.9868)
	Advanced Principal				~~161~~143,~~786~~163.5504	5547,~~521~~111.9241	8570,~~006~~029.5123	~~302~~260,~~314~~303.9868
	TOTAL PRINCIPAL COLLECTED				2,~~709~~833,~~154~~189.6056	1667,~~580,205~~620.0322	4,~~612~~565,~~700~~590.7260	8,~~902~~066,~~060~~400.3538
	NOTE: Grp1 = Wilshire, Grp2 = WAMU, Grp3 = B of A
				Page 6 of 27				© COPYRIGHT 2004 Deutsche Bank
	Morgan Stanley ABS Capital I Inc. 2004-SD1
	Mortgage Pass-Through Certificates
	Collection Account Report for April 26, 2004 Distribution
	Collection Account Report for September 27, 2004 Distribution
	Collection Account Report
PRINCIPAL - WITHDRAWALS					B OF A	WAMU	WILSHIRE	TOTAL
SPACE INTENTIONALLY LEFT BLANK
PRINCIPAL - OTHER ACCOUNTS					B OF A	WAMU	WILSHIRE	TOTAL
SPACE INTENTIONALLY LEFT BLANK
INTEREST - COLLECTIONS					B OF A	WAMU	WILSHIRE	TOTAL
	Scheduled Interest				~~421~~352,~~878~~624.5336	~~255~~200,~~774~~717.9629	~~700~~551,~~676~~944.5266	1,~~378~~105,~~330~~286.0131
	Liquidation Interest				0.00	0.00	0940.0078	0940.0078
	Repurchased Interest				0.00	0.00	0.00	0.00
	Insurance Interest				0.00	0.00	0.00	0.00
	Other Interest				0.00	0.00	0.00	0.00
	Relief Act Interest Shortfalls				0.00	0.00	0.00	0.00
	Net Prepayment Interest Shortfalls				0.00	0.00	0.00	0.00
	Delinquent Interest				(~~386~~317,~~991~~038.5584)	(~~222~~172,~~995~~421.9320)	(~~613~~483,~~144~~381.2603)	(1972,~~223,131~~841.7407)
	Interest Advanced				~~370~~303,~~080~~069.0407	~~212~~163,~~254~~927.7829	~~579~~457,~~129~~185.1146	1924,~~161,463~~181.9382
	TOTAL INTEREST COLLECTED				~~402~~336,~~169~~079.2169	~~242~~190,~~590~~227.3429	~~660~~521,~~470~~263.0331	1,~~305~~047,~~229~~570.5829
	NOTE: Grp1 = Wilshire, Grp2 = WAMU, Grp3 = B of A
				Page 7 of 27				© COPYRIGHT 2004 Deutsche Bank
	Morgan Stanley ABS Capital I Inc. 2004-SD1
	Mortgage Pass-Through Certificates
	Collection Account Report for April 26, 2004 Distribution
	Collection Account Report for September 27, 2004 Distribution
	Collection Account Report
INTEREST - WITHDRAWALS					B OF A	WAMU	WILSHIRE	TOTAL
	Trust Fund Expenses				0.00	0.00	0.00	0.00
	Nonrecoverable Advances				0.00	0.00	0.00	0.00
	Reimbursements to Master Servicer				0.00	0.00	0.00	0.00
	TOTAL INTEREST WITHDRAWALS				0.00	0.00	0.00	0.00
INTEREST - OTHER ACCOUNTS					B OF A	WAMU	WILSHIRE	TOTAL
SPACE INTENTIONALLY LEFT BLANK
INTEREST - FEES					B OF A	WAMU	WILSHIRE	TOTAL
	Current Servicing Fees				1,~~577~~550.5356	1,~~672~~388.2005	4,~~743~~028.7071	76,~~993~~967.4332
	Trustee Fees				1,~~220~~024.2834	~~771~~608.2704	1,~~447~~131.6434	32,~~439~~763.1972
	TOTAL INTEREST OTHER FEES				2,~~797~~574.8190	21,~~443~~996.4709	65,~~191~~160.3405	119,~~432~~731.6204
	NOTE: Grp1 = Wilshire, Grp2 = WAMU, Grp3 = B of A
				Page 8 of 27				© COPYRIGHT 2004 Deutsche Bank
	Morgan Stanley ABS Capital I Inc. 2004-SD1
	Mortgage Pass-Through Certificates
	Credit Enhancement Report for April 26, 2004 Distribution
	Credit Enhancement Report for September 27, 2004 Distribution
	Credit Enhancement Report
ACCOUNTS					B OF A	WAMU	WILSHIRE	TOTAL
	Beginning Excess Reserve Fund Balance							0.00
	Total Deposits to Excess Reserve Fund:							0.00
	(1) Basis Risk Payment to Reserve Fund							0.00
	(2) Interest Cap Payments							0.00
	Amt Withdrawn							0.00
	Ending Excess Reserve Fund Balance							0.00
INSURANCE					B OF A	WAMU	WILSHIRE	TOTAL
SPACE INTENTIONALLY LEFT BLANK
STRUCTURAL FEATURES					B OF A	WAMU	WILSHIRE	TOTAL
	Target OC Amount							5,258,670.64
	OC Amount (For Calculating Deficiency/Release)							5,~~258~~250,~~670~~573.6403
	OC Release Amount							0.00
	OC Deficiency							08,097.0061
	OC Amount After Distributions							5,258,670.64
	Senior Enhancement Percentage							1317.6204%
				Page 9 of 27				© COPYRIGHT 2004 Deutsche Bank
	Morgan Stanley ABS Capital I Inc. 2004-SD1
	Mortgage Pass-Through Certificates
	Collateral Report for April 26, 2004 Distribution
	Collateral Report for September 27, 2004 Distribution
	Collateral Report
COLLATERAL					B OF A	WAMU	WILSHIRE	TOTAL
	Loan Count:
	Original				383	246	785	1414
	Prior				~~375~~335	~~239~~207	~~744~~615	1,~~358~~157
	Prefunding				-	-	-	-
	Scheduled Paid Offs				-	-	-	-
	Full Voluntary Prepayments				(810)	(63)	(2528)	(3941)
	Repurchases				-	-	-	-
	Liquidations				-	-	-(1)	-(1)
	Current				~~367~~325	~~233~~204	~~719~~586	1,~~319~~115
	Principal Balance:
	Original				91,263,756.30	58,851,338.26	112,818,437.23	262,933,531.79
	Prior				8874,~~747~~497,~~382~~589.1018	5644,~~092~~220,~~632~~882.2077	~~105~~82,~~282~~278,~~918~~988.9915	~~250~~200,~~122~~997,~~933~~460.2910
	Prefunding				-	-	-	-
	Scheduled Principal				(~~175~~153,~~668~~735.4219)	(6458,~~657~~447.3516)	(9577,~~340~~714.4416)	(~~335~~289,~~666~~896.2151)
	Partial and Full Voluntary Prepayments				(2,~~533~~679,~~486~~454.1837)	(1609,~~515,547~~173.6806)	(4,~~517~~349,~~360~~359.2874)	(87,~~566~~637,~~394~~987.1417)
	Repurchases				-	-	-	-
	Liquidations				-	-	-(146,614.31)	-(146,614.31)
	Current				8671,~~038~~664,~~227~~399.5062	5443,~~512~~553,~~427~~262.1755	~~100~~77,~~670~~705,~~218~~299.2794	~~241~~192,~~220~~922,~~872~~962.9411
PREFUNDING					B OF A	WAMU	WILSHIRE	TOTAL
SPACE INTENTIONALLY LEFT BLANK
	Wilshire		B of A
	WAMU
Current Prin Balance by Groups (in millions of dollars)					Total Current Principal Balance (in millions of dollars)
				Page 10 of 27				© COPYRIGHT 2004 Deutsche Bank
	Morgan Stanley ABS Capital I Inc. 2004-SD1
	Mortgage Pass-Through Certificates
	Collateral Report for April 26, 2004 Distribution
	Collateral Report for September 27, 2004 Distribution
	Collateral Report
CHARACTERISTICS					B OF A	WAMU	WILSHIRE	TOTAL
	Weighted Average Coupon Original				5.722184%	5.492453%	8.002143%	6.649040%
	Weighted Average Coupon Prior				5.~~716080~~662238%	5.~~499057~~443675%	8.~~000415~~077006%	6.~~640960~~610727%
	Weighted Average Coupon Current				5.~~704441~~680039%	5.~~471841~~446765%	78.~~973202~~062934%	6.~~607256~~604163%
	Weighted Average Months to Maturity Original				302	320	328	317
	Weighted Average Months to Maturity Prior				~~301~~293	~~319~~309	~~327~~320	~~316~~308
	Weighted Average Months to Maturity Current				~~300~~292	~~318~~307	~~325~~319	~~315~~306
	Weighted Avg Remaining Amortization Term Original				302	319	331	318
	Weighted Avg Remaining Amortization Term Prior				~~300~~293	~~318~~308	~~329~~322	~~317~~308
	Weighted Avg Remaining Amortization Term Current				~~299~~292	~~317~~307	~~328~~321	~~315~~307
	Weighted Average Seasoning Original				14.78	29.32	15.23	18.20
	Weighted Average Seasoning Prior				1520.6049	3037.1888	1621.1853	1924.1174
	Weighted Average Seasoning Current				1620.4999	3138.5697	1722.3250	2025.2466
Note: Original information refers to deal issue.
	Wilshire		B of A
	WAMU
WAC by Groups					Total WAC
WARAT by Groups					Total WARAT
Note: Dates correspond to distribution dates.
				Page 11 of 27				© COPYRIGHT 2004 Deutsche Bank
	Morgan Stanley ABS Capital I Inc. 2004-SD1
	Mortgage Pass-Through Certificates
	Collateral Report for April 26, 2004 Distribution
	Collateral Report for September 27, 2004 Distribution
	Collateral Report
ARM CHARACTERISTICS					B OF A	WAMU	WILSHIRE	TOTAL
	Weighted Average Margin Original				0.793%	1.883%	3.968%
	Weighted Average Margin Prior				0.~~792~~755%	1.~~885~~832%	3.~~939~~848%
	Weighted Average Margin Current				0.~~791~~729%	1.~~896~~824%	3.~~897~~827%
	Weighted Average Max Rate Original				3.476%	7.536%	9.720%
	Weighted Average Max Rate Prior				3.~~473~~285%	7.~~510~~389%	9.~~666~~464%
	Weighted Average Max Rate Current				3.~~467~~168%	7.~~548~~346%	9.~~555~~414%
	Weighted Average Min Rate Original				0.827%	2.060%	5.155%
	Weighted Average Min Rate Prior				0.~~827~~775%	2.~~053~~026%	5.~~121~~058%
	Weighted Average Min Rate Current				0.~~826~~749%	2.~~065~~013%	5.~~061~~026%
	Weighted Average Cap Up Original				0.699%	1.397%	0.932%
	Weighted Average Cap Up Prior				0.~~698~~665%	1.~~396~~364%	0.~~927~~900%
	Weighted Average Cap Up Current				0.~~697~~642%	1.~~404~~357%	0.~~916~~896%
	Weighted Average Cap Down Original				0.699%	1.397%	0.932%
	Weighted Average Cap Down Prior				0.~~698~~665%	1.~~396~~364%	0.~~927~~900%
	Weighted Average Cap Down Current				0.~~697~~642%	1.~~404~~357%	0.~~916~~896%
Note: Original information refers to deal issue.
SERVICING FEES / ADVANCES					B OF A	WAMU	WILSHIRE	TOTAL
	Current Servicing Fees				1,~~577~~550.5356	1,~~672~~388.2005	4,~~743~~028.7071	76,~~993~~967.4332
	Delinquent Servicing Fees				1613,~~911~~969.5177	108,~~741~~493.1591	3426,~~015~~195.1557	6148,~~667~~659.8125
	TOTAL SERVICING FEES				1815,~~489~~520.0433	129,~~413~~881.3596	3830,~~758~~224.8528	6955,~~661~~626.2457
	Prepayment Interest Shortfall				74,~~155~~039.7130	0.00	014,843.0040	718,~~155~~882.7170
	Compensating Interest				(74,~~155~~039.7130)	0.00	0(14,843.0040)	(718,~~155~~882.7170)
	Delinquent Servicing Fees				(1613,~~911~~969.5177)	(108,~~741~~493.1591)	(3426,~~015~~195.1557)	(6148,~~667~~659.8125)
	COLLECTED SERVICING FEES				1,~~577~~550.5356	1,~~672~~388.2005	4,~~743~~028.7071	76,~~993~~967.4332
	Aggregate Advances with respect to this Distribution				~~531~~446,~~866~~232.5911	~~267~~211,~~776~~038.70	~~664~~527,~~135~~214.6269	1,~~463~~184,~~778~~485.9150
	Current Nonrecoverable Advances				0.00	0.00	0.00	0.00
	NOTE: Grp1 = Wilshire, Grp2 = WAMU, Grp3 = B of A
ADDITIONAL COLLATERAL INFORMATION					B OF A	WAMU	WILSHIRE	TOTAL
	Net Prepayment Interest Shortfall							0.00
	Monthly Excess Cash Flow							~~954~~659,~~949~~242.6205
	Ending Pool Stated Principal Balance				8671,~~038~~664,~~227~~399.5062	5443,~~512~~553,~~427~~262.1755	~~100~~77,~~670~~705,~~218~~299.2794	~~241~~192,~~220~~922,~~872~~962.9411
				Page 12 of 27				© COPYRIGHT 2004 Deutsche Bank
	Morgan Stanley ABS Capital I Inc. 2004-SD1
	Mortgage Pass-Through Certificates
	Delinquency Report for April 26, 2004 Distribution
	Delinquency Report for September 27, 2004 Distribution
	Delinquency Report - Total
				<1 PAYMENT	1 PAYMENT	2 PAYMENTS	3+ PAYMENTS	TOTAL
DELINQUENT		Balance			5,~~024~~863,~~424~~115.2306	23,~~489~~115,~~562~~605.1940	1,~~955~~909,~~951~~421.0523	910,~~469~~888,~~937~~141.4769
		% Balance			23.0804%	1.0361%	0.8199%	35.9364%
		# Loans			3638	1719	1916	7273
		% # Loans			23.7341%	1.2970%	1.4443%	56.4655%
FORECLOSURE		Balance		254,~~943~~867.9826	~~283,180.16~~-	~~64,554.22~~-	36,~~818~~344,~~942~~693.0717	46,~~421~~599,~~620~~560.43
		% Balance		0.1113%	0.1200%	0.0300%	13.5829%	13.8342%
		# Loans		1	1-	1-	2748	3049
		% # Loans		0.0809%	0.0800%	0.0800%	24.0530%	24.2739%
BANKRUPTCY		Balance		~~980~~1,~~126~~162,432.5519	~~122~~320,~~986~~007.9274	~~238,686.56~~-	2,~~905~~577,~~850~~132.9485	4,~~247~~059,~~650~~572.9778
		% Balance		0.4160%	0.0517%	0.1000%	1.2034%	12.7610%
		# Loans		48	12	3-	3433	4243
		% # Loans		0.3072%	0.0818%	0.2300%	2.5896%	3.1886%
REO		Balance		-	-	-	-756,960.48	-756,960.48
		% Balance		0.00%	0.00%	0.00%	0.0039%	0.0039%
		# Loans		-	-	-	-5	-5
		% # Loans		0.00%	0.00%	0.00%	0.0045%	0.0045%
TOTAL		Balance		1,~~235~~417,~~070~~299.5345	56,~~430~~183,~~591~~122.3180	23,~~792~~115,~~802~~605.9740	811,~~680~~588,~~744~~207.0673	1822,~~139~~304,~~208~~235.8738
		% Balance		0.5173%	23.2520%	1.1661%	36.6001%	711.5256%
		# Loans		59	3840	2119	80102	~~144~~170
		% # Loans		0.3881%	23.8859%	1.5970%	69.0715%	1015.9225%
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 27				© COPYRIGHT 2004 Deutsche Bank
	Morgan Stanley ABS Capital I Inc. 2004-SD1
	Mortgage Pass-Through Certificates
	Delinquency Report for April 26, 2004 Distribution
	Delinquency Report for September 27, 2004 Distribution
	Delinquency Report - Wilshire Group
				<1 PAYMENT	1 PAYMENT	2 PAYMENTS	3+ PAYMENTS	TOTAL
DELINQUENT		Balance			4,~~796~~977,~~423~~083.3656	12,~~946~~398,~~754~~609.0236	1,~~684~~756,~~917~~668.8018	89,~~428~~132,~~095~~361.1810
		% Balance			46.7641%	13.9309%	12.6726%	811.3775%
		# Loans			34	1416	1715	65
		% # Loans			45.7380%	12.9573%	2.3656%	911.0409%
FORECLOSURE		Balance		254,~~943~~867.9826	-	~~64,554.22~~-	35,~~818~~607,~~942~~701.0798	45,~~138~~862,~~440~~569.2724
		% Balance		0.2533%	0.00%	0.0600%	37.7922%	47.1154%
		# Loans		1	-	1-	2745	2946
		% # Loans		0.1417%	0.00%	0.1400%	37.7668%	47.0385%
BANKRUPTCY		Balance		~~254~~440,~~617~~266.8132	~~122~~320,~~986~~007.9274	~~238,686.56~~-	2,~~905~~577,~~850~~132.9485	3,~~522~~337,~~142~~406.2391
		% Balance		0.2557%	0.1241%	0.2400%	23.8932%	34.5029%
		# Loans		26	12	3-	3433	4041
		% # Loans		01.2802%	0.1434%	0.4200%	45.7363%	57.5600%
REO		Balance		-	-	-	-756,960.48	-756,960.48
		% Balance		0.00%	0.00%	0.00%	0.0097%	0.0097%
		# Loans		-	-	-	-5	-5
		% # Loans		0.00%	0.00%	0.00%	0.0085%	0.0085%
TOTAL		Balance		~~509~~695,~~561~~133.7958	45,~~919~~297,~~410~~091.2830	2,~~249~~398,~~994~~609.8036	810,~~409~~698,~~710~~463.8149	1619,~~088~~089,~~677~~297.6873
		% Balance		0.5189%	46.8982%	23.2409%	813.3577%	1524.9857%
		# Loans		37	3536	1816	7898	~~134~~157
		% # Loans		01.4219%	46.8714%	2.5073%	1016.8572%	1826.6479%
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 14 of 27				© COPYRIGHT 2004 Deutsche Bank
	Morgan Stanley ABS Capital I Inc. 2004-SD1
	Mortgage Pass-Through Certificates
	Delinquency Report for April 26, 2004 Distribution
	Delinquency Report for September 27, 2004 Distribution
	Delinquency Report - WAMU Group
				<1 PAYMENT	1 PAYMENT	2 PAYMENTS	3+ PAYMENTS	TOTAL
DELINQUENT		Balance			~~228~~493,~~000~~677.8702	~~542~~282,~~808~~687.1722	~~153~~152,~~433~~753.6105	~~924~~929,~~242~~117.6529
		% Balance			01.4213%	10.0065%	0.2835%	12.7013%
		# Loans			23	32	1	6
		% # Loans			01.8647%	10.2998%	0.4349%	2.5894%
FORECLOSURE		Balance		-	-	-	-	-
		% Balance		0.00%	0.00%	0.00%	0.00%	0.00%
		# Loans		-	-	-	-	-
		% # Loans		0.00%	0.00%	0.00%	0.00%	0.00%
BANKRUPTCY		Balance		-	-	-	-	-
		% Balance		0.00%	0.00%	0.00%	0.00%	0.00%
		# Loans		-	-	-	-	-
		% # Loans		0.00%	0.00%	0.00%	0.00%	0.00%
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		-	~~228~~493,~~000~~677.8702	~~542~~282,~~808~~687.1722	~~153~~152,~~433~~753.6105	~~924~~929,~~242~~117.6529
		% Balance		0.00%	01.4213%	10.0065%	0.2835%	12.7013%
		# Loans		-	23	32	1	6
		% # Loans		0.00%	01.8647%	10.2998%	0.4349%	2.5894%
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 15 of 27				© COPYRIGHT 2004 Deutsche Bank
	Morgan Stanley ABS Capital I Inc. 2004-SD1
	Mortgage Pass-Through Certificates
	Delinquency Report for April 26, 2004 Distribution
	Delinquency Report for September 27, 2004 Distribution
	Delinquency Report - B of A Group
				<1 PAYMENT	1 PAYMENT	2 PAYMENTS	3+ PAYMENTS	TOTAL
DELINQUENT		Balance			-392,354.48	-434,308.82	~~117,599.64~~-	~~117~~826,~~599~~663.6430
		% Balance			0.0055%	0.0061%	0.1400%	01.1415%
		# Loans			-1	-1	1-	12
		% # Loans			0.0031%	0.0031%	0.2700%	0.2762%
FORECLOSURE		Balance		-	~~283,180.16~~-	-	-736,991.19	~~283~~736,~~180~~991.1619
		% Balance		0.00%	0.3300%	0.00%	01.0003%	01.3303%
		# Loans		-	1-	-	-3	13
		% # Loans		0.00%	0.2700%	0.00%	0.0092%	0.2792%
BANKRUPTCY		Balance		~~725~~722,~~508~~165.7487	-	-	-	~~725~~722,~~508~~165.7487
		% Balance		01.8401%	0.00%	0.00%	0.00%	01.8401%
		# Loans		2	-	-	-	2
		% # Loans		0.5462%	0.00%	0.00%	0.00%	0.5462%
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		~~725~~722,~~508~~165.7487	~~283~~392,~~180~~354.1648	-434,308.82	~~117~~736,~~599~~991.6419	12,~~126~~285,~~288~~820.5436
		% Balance		01.8401%	0.3355%	0.0061%	01.1403%	13.3119%
		# Loans		2	1	-1	13	47
		% # Loans		0.5462%	0.2731%	0.0031%	0.2792%	12.0915%
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 16 of 27				© COPYRIGHT 2004 Deutsche Bank
	Morgan Stanley ABS Capital I Inc. 2004-SD1
	Mortgage Pass-Through Certificates
	REO Report for April 26, 2004 Distribution
	REO Report for September 27, 2004 Distribution
	REO Report - Mortgage Loans that Become REO During Current Distribution
SUMMARY				LOAN GROUP
Total Loan Count = 0				Loan Group 1 = Wilshire; REO Book Value = 000.00
Total Loan Count = 4				Loan Group 1 = Wilshire; REO Book Value = Not Available
Total Original Principal Balance = 000.00				Loan Group 2 = WAMU; REO Book Value = 000.00
Total Original Principal Balance = 732,789.00				Loan Group 2 = WAMU; REO Book Value = Not Available
Total Current Balance = 000.00				Loan Group 3 = B of A; REO Book Value = 000.00
Total Current Balance = 713,567.40				Loan Group 3 = B of A; REO Book Value = Not Available
REO Book Value = 000.00
REO Book Value = Not Available
REO Book Value reported corresponds to total REO loans, including loans that become REO during current distribution.
Loan Number		Original	Stated		Current	State &
&		Principal	Principal	Paid to	Note	LTV at	Original	Origination
Loan Group		Balance	Balance	Date	Rate	Origination	Term	Date
SPACE INTENTIONALLY LEFT BLANK
177505 1		157,039.00	151,988.23	Jan-01-04	6.750%	CO - 95.18%	360	Oct-26-01
312027 1		337,250.00	329,468.42	Oct-01-03	6.640%	CT - 95.00%	360	Dec-31-02
767237 1		153,000.00	149,029.26	Feb-25-01	12.650%	IL - 87.43%	180	Sep-10-98
767849 1		85,500.00	83,081.49	Aug-01-01	10.875%	NC - 75.00%	364	Jun-17-99
				Page 17 of 27				© COPYRIGHT 2004 Deutsche Bank
	Morgan Stanley ABS Capital I Inc. 2004-SD1
	Mortgage Pass-Through Certificates
	Foreclosure Report for April 26, 2004 Distribution
	Foreclosure Report for September 27, 2004 Distribution
	Foreclosure Report - Mortgage Loans that Become Foreclosure During Current Distribution
SUMMARY				LOAN GROUP
Total Loan Count = 23				Loan Group 1 = Wilshire
Total Loan Count = 22				Loan Group 1 = Wilshire
Total Original Principal Balance = 3,607,554.92				Loan Group 2 = WAMU
Total Original Principal Balance = 3,301,394.92				Loan Group 2 = WAMU
Total Current Balance = 3,553,249.65				Loan Group 3 = B of A
Total Current Balance = 3,190,150.73				Loan Group 3 = B of A
Loan Number		Original	Stated		Current	State &
&		Principal	Principal	Paid to	Note	LTV at	Original	Origination
Loan Group		Balance	Balance	Date	Rate	Origination	Term	Date
177046 1		116,000.00	115,406.54	Oct-01-03	10.750%	PA - 80.00%	360	Mar-24-03
174448 1		33,750.00	33,059.93	Mar-01-04	10.950%	PA - 75.00%	360	Jan-30-02
177255 1		85,500.00	84,641.51	Nov-01-03	8.250%	TX - 90.00%	360	Dec-30-02
177048 1		76,940.00	76,410.12	Jan-01-04	10.745%	TN - 94.99%	360	Mar-26-03
177301 1		77,250.00	76,596.03	Sep-01-03	8.740%	MN - 75.00%	360	Jan-17-03
177255 1		85,500.00	84,335.18	Nov-01-03	8.250%	TX - 90.00%	360	Dec-30-02
177899 1		80,000.00	79,158.95	Oct-01-03	6.350%	FL - 42.11%	360	Apr-24-03
177317 1		268,000.00	262,925.84	Apr-01-04	6.240%	CA - 80.00%	360	Jan-30-03
177904 1		448,250.00	444,268.11	Aug-01-03	8.500%	TX - 75.97%	360	Jan-31-03
179286 1		84,750.00	82,980.41	Oct-01-03	7.500%	TX - 94.96%	360	Jun-21-02
179286 1		84,750.00	83,343.33	Oct-01-03	7.500%	TX - 94.96%	360	Jun-21-02
210273 1		48,000.00	45,899.50	Jan-01-04	10.750%	TN - 80.00%	180	Feb-10-03
210248 1		90,400.00	89,774.70	Aug-01-03	9.350%	MI - 80.00%	360	Feb-04-03
309279 1		49,500.00	49,093.51	Apr-01-04	8.510%	IN - 90.00%	360	Jul-14-03
210274 1		87,500.00	86,486.80	Oct-01-03	6.750%	NV - 70.00%	360	Feb-27-03
309296 1		96,000.00	93,791.79	Mar-01-04	7.990%	MI - 80.00%	240	Jul-24-03
234866 1		103,500.00	86,836.20	Mar-01-03	11.500%	NY - 90.00%	360	Jul-12-89
309976 1		188,100.00	185,791.09	Mar-01-04	7.900%	MN - 90.00%	360	Mar-31-03
308031 1		93,000.00	92,403.42	Sep-01-03	8.375%	NC - 72.66%	360	May-19-03
311614 1		416,500.00	413,154.95	Apr-01-04	9.000%	MN - 85.00%	360	May-29-03
309990 1		120,000.00	119,119.67	Nov-01-03	10.290%	NJ - 55.81%	360	Apr-23-03
311926 1		51,000.00	50,487.60	May-01-03	11.500%	MI - 85.00%	360	Jun-03-02
311675 1		57,750.00	57,555.62	Oct-01-03	10.950%	TX - 55.00%	360	Jun-04-03
311954 1		414,704.92	407,100.02	Aug-01-03	9.750%	NC - 82.94%	360	Oct-22-01
311709 1		236,000.00	234,214.33	Oct-01-03	6.990%	NY - 80.00%	360	Jun-17-03
312131 1		85,500.00	84,018.92	Jan-01-04	7.375%	MO - 90.00%	360	Dec-06-02
311933 1		65,250.00	64,554.22	Dec-01-03	10.450%	CA - 75.00%	360	Apr-02-02
766877 1		210,600.00	175,861.22	May-01-02	5.000%	PA - 67.94%	360	Jul-18-93
311935 1		44,100.00	43,728.42	Jul-01-03	10.075%	OH - 90.00%	360	Sep-05-02
767530 1		52,000.00	49,686.79	Mar-01-03	8.770%	MO - 80.00%	364	Nov-17-98
311954 1		414,704.92	408,343.27	Apr-01-03	9.750%	NC - 82.94%	360	Oct-22-01
767832 1		67,680.00	66,010.59	Jun-01-01	11.610%	LA - 90.00%	360	Jun-17-99
311977 1		399,500.00	396,293.16	Sep-01-03	8.990%	FL - 79.11%	360	Jan-27-03
768124 1		93,000.00	90,703.93	Mar-10-01	10.650%	FL - 78.00%	360	Apr-26-00
312027 1		337,250.00	332,998.12	Oct-01-03	6.640%	CT - 95.00%	360	Dec-31-02
768732 1		137,520.00	135,120.81	Dec-01-01	13.550%	GA - 80.00%	120	Oct-18-99
322854 1		148,750.00	147,085.74	Oct-01-03	7.700%	FL - 85.00%	360	Dec-17-02
769326 1		68,700.00	66,727.34	Dec-01-01	10.250%	SC - 79.98%	360	Mar-10-00
322867 1		52,000.00	51,725.58	Sep-01-03	10.250%	OH - 80.00%	360	Mar-11-03
28136786 3		231,900.00	208,167.41	Feb-01-04	7.000%	MO - 74.81%	300	May-27-99
322869 1		186,400.00	184,929.50	Oct-01-03	8.300%	CA - 79.32%	360	Mar-12-03
6201328330 3		289,750.00	281,358.75	Feb-01-04	5.250%	CA - 95.00%	360	Aug-21-02
767461 1		211,000.00	206,838.82	Nov-01-03	9.750%	OH - 65.00%	360	Oct-17-98
7064247161 3		252,000.00	247,465.03	Feb-01-04	3.875%	FL - 80.00%	360	Aug-01-03
769326 1		68,700.00	66,947.61	Dec-01-01	10.250%	SC - 79.98%	360	Mar-10-00
				Page 18 of 27				© COPYRIGHT 2004 Deutsche Bank
	Morgan Stanley ABS Capital I Inc. 2004-SD1
	Mortgage Pass-Through Certificates
	Prepayment Report for April 26, 2004 Distribution
	Prepayment Report for September 27, 2004 Distribution
	Prepayment Report - Voluntary Prepayments
VOLUNTARY PREPAYMENTS					B OF A	WAMU	WILSHIRE	TOTAL
	Current
	Number of Paid in Full Loans				810	63	2528	3941
	Number of Repurchased Loans				-	-	-	-
	Total Number of Loans Prepaid in Full				810	63	2528	3941
	Paid in Full Balance				2,~~516~~616,~~411~~917.3581	1593,~~469,369~~795.3401	4,~~502~~344,~~880~~469.6209	87,~~488~~555,~~661~~181.3191
	Repurchased Loans Balance				-	-	-	-
	Curtailments Amount				1762,~~074~~536.8356	4615,~~178~~378.3405	144,~~479~~890.6665	7782,~~732~~805.8326
	Total Prepayment Amount				2,~~533~~679,~~486~~454.1837	1609,~~515,547~~173.6806	4,~~517~~349,~~360~~359.2874	87,~~566~~637,~~394~~987.1417
	Cumulative
	Number of Paid in Full Loans				1658	1342	66194	95294
	Number of Repurchased Loans				-	-	-	-
	Total Number of Loans Prepaid in Full				1658	1342	66194	95294
	Paid in Full Balance				417,~~512~~911,~~665~~277.0447	414,~~037~~382,~~477~~031.5536	1133,~~817~~522,~~343~~416.2574	2065,~~367~~815,~~485~~725.8457
	Repurchased Loans Balance				-	-	-	-
	Curtailments Amount				~~180~~357,~~209~~547.4655	~~106~~417,~~620~~566.9063	36650,~~465~~325.1516	~~323~~1,~~295~~425,439.5134
	Total Prepayment Amount				418,~~692~~268,~~874~~825.5002	414,~~144~~799,~~098~~597.4599	1134,~~853~~172,~~808~~741.4090	2067,~~690~~241,~~781~~164.3591
SPACE INTENTIONALLY LEFT BLANK
Total Prepayments by Groups (in thousands of dollars)					Total Prepayments (in thousands of dollars)
				Page 19 of 27				© COPYRIGHT 2004 Deutsche Bank
	Morgan Stanley ABS Capital I Inc. 2004-SD1
	Mortgage Pass-Through Certificates
	Prepayment Report for April 26, 2004 Distribution
	Prepayment Report for September 27, 2004 Distribution
	Prepayment Report - Voluntary Prepayments
VOLUNTARY PREPAYMENT RATES					B OF A	WAMU	WILSHIRE	TOTAL
	SMM				23.8660%	21.7038%	45.29%	3.4381%
	3 Months Avg SMM				12.7593%	23.4128%	35.6409%	23.7090%
	12 Months Avg SMM
	Avg SMM Since Cut-off				12.7578%	23.4158%	34.6443%	23.7065%
	CPR				2935.4163%	2815.0435%	4047.9592%	3437.2122%
	3 Months Avg CPR				1930.1205%	2532.3898%	3546.9159%	2837.0298%
	12 Months Avg CPR
	Avg CPR Since Cut-off				1928.1273%	2535.3841%	3541.9196%	2836.0200%
	PSA				~~891~~848.6678%	~~467~~255.3488%	~~1181~~1064.8693%	~~845~~725.0341%
	3 Months Avg PSA Approximation				~~611~~740.8706%	~~426~~549.2073%	~~1105~~1083.3986%	~~730~~769.2402%
	12 Months Avg PSA Approximation
	Avg PSA Since Cut-off Approximation				~~611~~797.8733%	~~426~~591.2077%	~~1105~~1115.3980%	~~730~~819.2498%
	Wilshire		B of A
	WAMU
CPR by Groups					Total CPR
PSA by Groups					Total PSA
				Page 20 of 27				© COPYRIGHT 2004 Deutsche Bank
	Morgan Stanley ABS Capital I Inc. 2004-SD1
	Mortgage Pass-Through Certificates
	Prepayment Report for April 26, 2004 Distribution
	Prepayment Report for September 27, 2004 Distribution
	Prepayment Report - Voluntary Prepayments
	Wilshire		B of A
	WAMU
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 PSA Approximation over period between the nth month and mth month: AvgCPRn,m/(0.002*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 21 of 27				© COPYRIGHT 2004 Deutsche Bank
	Morgan Stanley ABS Capital I Inc. 2004-SD1
	Mortgage Pass-Through Certificates
	Prepayment Detail Report for April 26, 2004 Distribution
	Prepayment Detail Report for September 27, 2004 Distribution
	Prepayment Detail Report - Loans Prepaid in Full During Current Distribution
SUMMARY						LOAN GROUP
Total Loan Count = 39						Loan Group 1 = Wilshire
Total Loan Count = 41						Loan Group 1 = Wilshire
Total Original Principal Balance = 8,681,145.00						Loan Group 2 = WAMU
Total Original Principal Balance = 7,947,861.00						Loan Group 2 = WAMU
Total Prepayment Amount = 8,488,661.31						Loan Group 3 = B of A
Total Prepayment Amount = 7,555,181.91						Loan Group 3 = B of A
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
177042 1			310,500.00	308,125.66	Apr-01-04	7.990%	VA - 90.00%	Paid Off - 360	Mar-17-03
177264 1			331,500.00	320,751.09	Aug-09-04	8.250%	VA - 85.00%	Paid Off - 360	Dec-10-02
177304 1			170,400.00	168,511.78	Apr-01-04	7.750%	CA - 80.00%	Paid Off - 360	Dec-31-02
177269 1			347,000.00	342,525.20	Aug-30-04	8.250%	CA - 82.62%	Paid Off - 360	Dec-19-02
177484 1			79,920.00	73,747.01	Apr-01-04	7.750%	FL - 88.68%	Paid Off - 360	Aug-17-98
177330 1			76,000.00	74,518.28	Aug-26-04	7.750%	CA - 84.92%	Paid Off - 360	Jan-28-03
177894 1			105,000.00	104,343.54	Apr-01-04	8.990%	NY - 67.74%	Paid Off - 360	Mar-26-03
178132 1			99,000.00	98,643.11	Aug-04-04	12.990%	AZ - 20.00%	Paid Off - 180	May-05-03
210257 1			92,000.00	91,516.96	Apr-01-04	10.650%	AZ - 80.00%	Paid Off - 360	Feb-05-03
179668 1			135,660.00	134,679.80	Aug-11-04	8.750%	NJ - 85.00%	Paid Off - 360	Jul-24-03
309992 1			440,000.00	438,024.23	Apr-01-04	8.500%	FL - 80.00%	Paid Off - 360	Jun-20-03
309278 1			125,800.00	124,588.75	Aug-06-04	7.750%	AR - 85.00%	Paid Off - 360	Jul-11-03
311602 1			269,000.00	267,367.50	Apr-01-04	7.500%	ME - 86.77%	Paid Off - 360	Jun-05-03
309996 1			141,000.00	139,360.49	Aug-19-04	7.850%	NY - 66.51%	Paid Off - 360	Apr-08-03
311654 1			125,100.00	124,235.69	Apr-01-04	6.850%	VA - 78.19%	Paid Off - 360	Jun-07-03
311499 1		FCL	108,800.00	107,613.70	Aug-03-04	8.500%	IL - 85.00%	Paid Off - 360	Feb-24-03
311688 1			73,800.00	73,575.29	Apr-01-04	11.750%	CA - 61.50%	Paid Off - 360	Jun-14-03
311598 1			254,700.00	252,246.25	Aug-06-04	7.700%	NJ - 90.00%	Paid Off - 360	Jun-25-03
311703 1			88,400.00	88,099.31	Apr-01-04	10.350%	MI - 65.00%	Paid Off - 360	Jun-06-03
311647 1			192,000.00	190,399.26	Aug-23-04	8.850%	TN - 80.00%	Paid Off - 360	Jun-20-03
311714 1			205,100.00	204,208.36	Apr-01-04	9.950%	CA - 70.00%	Paid Off - 360	Jun-19-03
311674 1			300,000.00	297,138.14	Aug-26-04	7.750%	TX - 75.00%	Paid Off - 360	Jun-20-03
311797 1			25,000.00	24,711.85	Apr-01-04	11.990%	NC - 20.00%	Paid Off - 240	Jun-25-03
311734 1			31,300.00	30,802.47	Aug-05-04	10.990%	IL - 20.00%	Paid Off - 240	Jun-26-03
311967 1			80,750.00	80,188.59	Apr-01-04	11.790%	MI - 85.00%	Paid Off - 360	Mar-01-02
311745 1			384,000.00	378,174.40	Aug-05-04	5.300%	CA - 80.00%	Paid Off - 360	Jun-14-03
311974 1			211,115.00	209,259.07	Apr-01-04	9.750%	CA - 64.96%	Paid Off - 360	Dec-17-02
311746 1			96,000.00	94,421.05	Aug-05-04	10.990%	CA - 20.00%	Paid Off - 240	Jun-14-03
311988 1			321,600.00	312,136.45	Apr-01-04	5.990%	CA - 80.00%	Paid Off - 360	Dec-31-02
311759 1			319,500.00	316,545.64	Aug-16-04	8.000%	IL - 90.00%	Paid Off - 360	Jun-13-03
312033 1			64,600.00	64,168.53	Apr-01-04	9.900%	OK - 85.00%	Paid Off - 360	Jan-06-03
311769 1			58,000.00	57,078.17	Aug-16-04	10.990%	CA - 20.00%	Paid Off - 240	Jun-24-03
312086 1			555,600.00	548,189.85	Apr-01-04	6.000%	IL - 79.94%	Paid Off - 360	Jan-15-03
311963 1			36,750.00	36,285.78	Aug-12-04	9.150%	FL - 75.00%	Paid Off - 360	Sep-19-02
312111 1			150,000.00	146,805.20	Apr-01-04	6.625%	VA - 65.79%	Paid Off - 360	Oct-17-02
311964 1			39,000.00	38,527.09	Aug-09-04	9.730%	FL - 62.90%	Paid Off - 360	Sep-18-02
312126 1			126,100.00	123,523.87	Apr-01-04	5.500%	CA - 97.00%	Paid Off - 360	Dec-26-02
311987 1			211,000.00	208,768.33	Aug-20-04	9.375%	MD - 89.86%	Paid Off - 360	Dec-16-02
312133 1			31,500.00	31,144.32	Apr-01-04	8.000%	VA - 15.00%	Paid Off - 180	Oct-30-02
312055 1			297,500.00	293,335.96	Aug-12-04	7.500%	CA - 85.00%	Paid Off - 360	Jan-23-03
312143 1			385,600.00	378,784.02	Apr-01-04	4.875%	IL - 80.00%	Paid Off - 360	Dec-06-02
312068 1			162,450.00	160,472.21	Aug-24-04	8.250%	VA - 90.00%	Paid Off - 360	Jan-24-03
312155 1			189,150.00	186,369.93	Apr-01-04	6.500%	CA - 97.00%	Paid Off - 360	Dec-23-02
312081 1		FCL	49,875.00	47,275.10	Aug-24-04	12.250%	GA - 100.00%	Paid Off - 180	Jan-16-95
312190 1			85,500.00	84,375.44	Apr-01-04	7.250%	MD - 90.00%	Paid Off - 360	Feb-04-03
312093 1			155,200.00	151,607.49	Aug-10-04	5.750%	CA - 97.00%	Paid Off - 360	Oct-09-02
321408 1			48,000.00	47,506.00	Apr-01-04	8.125%	CA - 15.00%	Paid Off - 180	Nov-06-02
312119 1			191,200.00	176,400.19	Aug-10-04	5.750%	AZ - 74.98%	Paid Off - 180	Oct-25-02
321415 1			330,000.00	323,962.17	Apr-01-04	4.250%	IL - 82.91%	Paid Off - 360	Jan-14-03
312132 1			30,550.00	30,005.69	Aug-24-04	7.625%	AZ - 15.01%	Paid Off - 180	Oct-24-02
58834466 2			650,000.00	650,000.00	Mar-31-04	5.125%	CA - 59.09%	Paid Off - 360	Oct-29-02
312185 1			25,000.00	24,731.02	Aug-16-04	8.875%	CA - 11.90%	Paid Off - 180	Jan-23-03
615068657 2			157,500.00	155,605.73	Mar-31-04	6.550%	ID - 85.83%	Paid Off - 360	Jan-21-03
767003 1		FCL	101,000.00	82,929.54	Aug-18-04	8.250%	NJ - 80.00%	Paid Off - 360	Dec-18-86
617443692 2			192,000.00	191,495.86	Mar-31-04	5.500%	CO - 78.37%	Paid Off - 360	Jan-20-03
767991 1			136,425.00	134,644.89	Aug-31-04	12.000%	CO - 85.00%	Paid Off - 120	Aug-01-99
623539046 2			304,300.00	304,300.00	Mar-31-04	5.125%	CA - 41.97%	Paid Off - 360	Feb-07-03
48399620 2			135,200.00	132,512.59	Aug-31-04	5.750%	RI - 64.38%	Paid Off - 360	Jan-28-03
623594967 2			102,800.00	102,800.00	Mar-31-04	5.250%	IL - 79.98%	Paid Off - 360	Feb-14-03
54537766 2			398,000.00	385,465.38	Aug-31-04	6.500%	IL - 72.36%	Paid Off - 360	Nov-05-01
5272675207 2			68,800.00	65,167.75	Mar-31-04	6.875%	PA - 80.00%	Paid Off - 360	May-11-01
73428112 2			77,503.00	75,817.04	Aug-31-04	7.500%	FL - 97.00%	Paid Off - 360	May-02-02
29185782 3			380,250.00	359,956.06	Mar-10-04	8.125%	VA - 90.00%	Paid Off - 360	Dec-15-00
29290640 3			300,000.00	290,636.63	Aug-31-04	8.750%	CA - 75.00%	Paid Off - 360	Dec-05-00
4263533509 3			264,000.00	186,427.03	Mar-24-04	6.875%	CA - 58.02%	Paid Off - 180	Jan-28-98
29375581 3			399,000.00	386,035.47	Aug-23-04	8.500%	CA - 77.48%	Paid Off - 360	Nov-17-00
6001602637 3			37,800.00	37,500.69	Mar-29-04	5.875%	NM - 94.50%	Paid Off - 360	Jul-10-03
63916304 3			375,000.00	262,255.81	Aug-31-04	7.000%	CA - 50.20%	Paid Off - 180	Feb-27-98
6105077843 3			359,950.00	355,018.13	Mar-25-04	4.375%	CA - 79.99%	Paid Off - 360	Apr-04-03
2004886798 3			143,900.00	41,848.78	Aug-16-04	6.750%	MD - 89.94%	Paid Off - 360	Jan-15-99
6766297276 3			450,500.00	444,962.40	Mar-10-04	4.500%	CA - 74.46%	Paid Off - 360	May-05-03
6299579943 3			244,000.00	240,646.58	Aug-25-04	6.250%	CA - 74.92%	Paid Off - 360	May-19-03
7016827821 3			72,910.00	68,647.42	Mar-25-04	5.250%	TN - 65.68%	Paid Off - 180	Dec-02-02
6489602091 3			246,500.00	237,513.73	Aug-18-04	6.500%	CA - 82.17%	Paid Off - 360	Jul-10-01
7062273292 3			750,000.00	743,613.60	Mar-11-04	6.375%	CA - 61.98%	Paid Off - 360	May-14-03
6518787079 3			315,000.00	305,105.63	Aug-16-04	8.500%	CA - 74.12%	Paid Off - 360	Dec-21-00
7062793430 3			326,600.00	320,286.02	Mar-11-04	6.000%	CA - 50.22%	Paid Off - 300	Jan-17-03
6888339360 3			322,700.00	317,608.29	Aug-24-04	4.625%	CA - 64.54%	Paid Off - 360	Jul-25-03
7063156777 3			233,432.00	219,635.07	Aug-30-04	5.375%	VA - 76.54%	Paid Off - 180	Apr-03-03
7064045276 3			321,416.00	315,631.82	Aug-02-04	3.875%	VA - 79.95%	Paid Off - 360	Jul-25-03
					Page 22 of 27				© COPYRIGHT 2004 Deutsche Bank
	Morgan Stanley ABS Capital I Inc. 2004-SD1
	Mortgage Pass-Through Certificates
	Realized Loss Report for April 26, 2004 Distribution
	Realized Loss Report for September 27, 2004 Distribution
	Realized Loss Report - Collateral
COLLATERAL REALIZED LOSSES					B OF A	WAMU	WILSHIRE	TOTAL
	Current
	Number of Loans Liquidated				-	-	-1	-1
	Collateral Realized Loss/(Gain) Amount				-	-	-8,097.61	-8,097.61
	Net Liquidation Proceeds				-	-	-138,516.70	-138,516.70
	Cumulative
	Number of Loans Liquidated				-	-	-3	-3
	Collateral Realized Loss/(Gain) Amount				-	-	-38,774.19	-38,774.19
	Net Liquidation Proceeds				-	-	-175,418.35	-175,418.35
	Note: Collateral Realized Loss Amount may include adjustments to loans liquidated in prior periods.
	Applied Realized Loss Amount							0.00
	Cumulative Loss Percentage							0.0001%
	Wilshire		B of A				3 Months Moving Average
	WAMU
Collateral Loss Severity Approximation by Groups					Collateral Loss Severity Approximation
				Page 23 of 27				© COPYRIGHT 2004 Deutsche Bank
	Morgan Stanley ABS Capital I Inc. 2004-SD1
	Mortgage Pass-Through Certificates
	Realized Loss Report for April 26, 2004 Distribution
	Realized Loss Report for September 27, 2004 Distribution
	Realized Loss Report - Collateral
DEFAULT SPEEDS					B OF A	WAMU	WILSHIRE	TOTAL
	MDR				0.00%	0.00%	0.0018%	0.0007%
	3 Months Avg MDR				0.00%	0.00%	0.0009%	0.0004%
	12 Months Avg MDR
	Avg MDR Since Cut-off				0.00%	0.00%	0.0003%	0.0001%
	CDR				0.00%	0.00%	02.0012%	0.0087%
	3 Months Avg CDR				0.00%	0.00%	01.0003%	0.0042%
	12 Months Avg CDR
	Avg CDR Since Cut-off				0.00%	0.00%	0.0039%	0.0016%
	SDA				0.00%	0.00%	04.0071%	01.0070%
	3 Months Avg SDA Approximation				0.00%	0.00%	02.0039%	0.0085%
	12 Months Avg SDA Approximation
	Avg SDA Since Cut-off Approximation				0.00%	0.00%	01.0003%	0.0036%
	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
	Wilshire		B of A
	WAMU
CDR by Groups					Total CDR
SDA by Groups					Total SDA
				Page 24 of 27				© COPYRIGHT 2004 Deutsche Bank
	Morgan Stanley ABS Capital I Inc. 2004-SD1
	Mortgage Pass-Through Certificates
	Realized Loss Report for April 26, 2004 Distribution
	Realized Loss Report for September 27, 2004 Distribution
	Realized Loss Report - Collateral
	Wilshire		B of A
	WAMU
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 25 of 27				© COPYRIGHT 2004 Deutsche Bank
	Morgan Stanley ABS Capital I Inc. 2004-SD1
	Mortgage Pass-Through Certificates
	Realized Loss Detail Report for April 26, 2004 Distribution
	Realized Loss Detail Report for September 27, 2004 Distribution
	Realized Loss Detail Report - Loans Liquidated During Current Distribution
SUMMARY							LOAN GROUP
Total Loan Count Current Losses = 0
Total Loan Count Current Losses = 1
Total Loan Count Revisions = 0						Loan Group 1 = Wilshire
Total Loan Count Revisions = 2						Loan Group 1 = Wilshire
Total Prior Principal Balance = 0.00						Loan Group 2 = WAMU
Total Prior Principal Balance = 146,614.31						Loan Group 2 = WAMU
Total Current Realized Loss Amount = 0.00						Loan Group 3 = B of A
Total Current Realized Loss Amount = 7,916.11						Loan Group 3 = B of A
Total Revisions Amount = 0.00
Total Revisions Amount = 181.50
Total Realized Loss Amount = 0.00
Total Realized Loss Amount = 8,097.61
Total Net Liquidation Proceeds = 0.00
Total Net Liquidation Proceeds = 138,516.70
Note: Total Realized Loss Amount may include adjustments to loans liquidated in prior periods.
Loan Number			Current	State &		Prior	Realized		Cumulative
&		Loan	Note	LTV at	Original	Principal	Loss/(Gain)	Realized	Realized
Loan Group		Status	Rate	Origination	Term	Balance	Revisions	Loss/(Gain)	Loss/(Gain)
SPACE INTENTIONALLY LEFT BLANK
322854 1		REO	7.700%	FL - 85.00%	360	146,614.31		7,916.11	7,916.11
178135 1				MO - 80.00%	180		Revision	177.00	177.00
311623 1				IL - 20.00%	240		Revision	4.50	4.50
					Page 26 of 27				© COPYRIGHT 2004 Deutsche Bank
	Morgan Stanley ABS Capital I Inc. 2004-SD1
	Mortgage Pass-Through Certificates
	Triggers, Adj. Rate Cert. and Miscellaneous Report for April 26, 2004 Distribution
	Triggers, Adj. Rate Cert. and Miscellaneous Report for September 27, 2004 Distribution
	Triggers, Adj. Rate Cert. and Miscellaneous Report
TRIGGER EVENTS					B OF A	WAMU	WILSHIRE	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)							46.8399%
	(x) 60+ DQ 3Mo Avg Bal (ex Reperf)							1113,~~639~~476,~~670~~759.3499
	(y) ending Stated Prin Bal							~~241~~192,~~220~~922,~~872~~962.9411
	(b) 50% of Senior Enhancement Percentage							68.8152%
	(ii) Does (x) divided by (y) exceed Loss Trigger Threshold Pctg?							No
	(x) Aggregate Realized Losses to date							038,774.0019
	(y) Cut-off Balance							262,933,531.79
	Loss Trigger Threshold Percentage							100.00%
	Reperforming 60+ Balance				0.00	0324,019.0036	12,~~409~~501,~~962~~014.2911	12,~~409~~825,~~962~~033.2947
ADJUSTABLE RATE CERTIFICATE INFORMATION					B OF A	WAMU	WILSHIRE	TOTAL
SPACE INTENTIONALLY LEFT BLANK
ADDITIONAL INFORMATION					B OF A	WAMU	WILSHIRE	TOTAL
	Total Basis Risk Carry Forward Amount							0.00
	Class A Basis Risk Paid							0.00
	Class M-1 Basis Risk Paid							0.00
	Class M-2 Basis Risk Paid							0.00
	Class B Basis Risk Paid							0.00
	Class A Basis Risk Carry Forward							0.00
	Class M-1 Basis Risk Carry Forward							0.00
	Class M-2 Basis Risk Carry Forward							0.00
	Class B Basis Risk Carry Forward							0.00
				Page 27 of 27				© COPYRIGHT 2004 Deutsche Bank

Filing Compare · MORGAN STANLEY ABS CAPITAL I INC TRUST SERIES 2004-SD1