

                                    UNITED STATES
                          SECURITIES AND EXCHANGE COMMISSION
                                Washington, D.C. 20549

                                      FORM 8-K

                                   CURRENT REPORT
        Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

             Date of Report (Date of earliest event reported): May 25, 2005
                             (Date of earliest event reported)


                                MORGAN STANLEY ABS CAPITAL I INC.
              (as Depositor under the Pooling and Servicing Agreement, dated as
             January 1, 2005, providing for the issuance of Mortgage Pass-Through
                              Certificates, Series 2005-HE1)
                      (Exact name of registrant as specified in charter)


                                         DELAWARE
                     (State or Other Jurisdiction of Incorporation)

               333-113543-22                        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


             (Former name or former address, if changed since last report.)


     Check the appropriate box below if the Form 8-K filing is intended to
     simultaneously satisfy the filing obligation of the registrant under any
     of the following provisions (see General Instruction A.2. below):

     [  ] Written communications pursuant to Rule 425 under the Securities Act
     (17 CFR 230.425)

     [  ] Soliciting material pursuant to Rule 14a-12(b) under the Exchange Act
     (17 CFR 240.14a-12(b))

     [  ] Pre-commencement communications pursuant to Rule 14d-2(b) under the
     Exchange Act (17 CFR 240.14d-2(b))

     [  ] Pre-commencement communications pursuant to Rule 13e-4(c) under the
     Exchange Act (17 CFR 240.13e-4(c))


     Item 8.01 Other Events.

     This current report on Form 8-K relates to the monthly distribution reported to the holders of
     Morgan Stanley ABS Capital I Inc. Mortgage Pass-Through Certificates, Series 2005-HE1, which
     was made on January 1, 2005


     Item 9.01 Financial Statements and Exhibits.

     (c) Exhibits

     Exhibit No. Description

     99.1 Monthly Remittance Statement to the Certificateholders dated as of
     May 25, 2005.


                                  SIGNATURES


    Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly
    caused this report to be signed on behalf of the Registrant by the undersigned thereunto duly
    authorized.



     DEUTSCHE BANK NATIONAL TRUST COMPANY, IN ITS CAPACITY AS TRUSTEE UNDER THE
     POOLING AND SERVICING AGREEMENT ON BEHALF OF MORGAN STANLEY ABS CAPITAL I INC.,
     REGISTRANT



          Date:  Jun 02, 2005               By:  /s/  Katherine M. Wannenmacher
                                            Katherine M. Wannenmacher
                                            Vice President



                                   EXHIBIT INDEX

         DOCUMENT

         99.1 Monthly Remittance Statement to the Certificateholders dated as of
              May 25, 2005.



Morgan Stanley ABS Capital I Inc. 2005-HE1

Mortgage Pass-Through Certificates

2005-HE1

May 25, 2005 Distribution

				External Parties						Table of Contents

													Page
				Seller
										1. Certificate Payment Report					2
				Morgan Stanley
										2. Collection Account Report					6

										3. Credit Enhancement Report					8
										4. Collateral Report					9
				Certificate Insurer(s)						5. Delinquency Report					12

										6. REO Report					16

										7. Foreclosure Report					17
										8. Prepayment Report					19
										9. Prepayment Detail Report					22

										10. Realized Loss Report					29
										11. Realized Loss Detail Report					32
				Servicer(s)
										12. Triggers and Adj. Cert. Report					33
				Chase Securities, Inc
										13. Other Related Information					34
				HomeQ Servicing Corp.



				Underwriter(s)
				Morgan Stanley & Co. Inc


										Total Number of Pages					34


				Dates						Contacts

				Cut-Off Date:			January 01, 2005			Marion Hogan
				Close Date:			January 26, 2005			Administrator
				First Distribution Date:			February 25, 2005			(714) 247-6282
										marion.c.hogan@db.com

										Address:
										1761 East St. Andrew Place, Santa Ana, CA 92705
				Distribution Date:			May 25, 2005
										Factor Information:			(800) 735-7777
				Record Date:			April 29, 2005
										Main Phone Number:			(714) 247-6000

							May 24, 2005


										https://www.tss.db.com/invr






Page 1 of 34
Morgan Stanley ABS Capital I Inc. 2005-HE1

Mortgage Pass-Through Certificates

2005-HE1

May 25, 2005 Distribution
Certificate Payment Report
Current Period Distribution -
					Prior												Current
	Class		Original		Principal						Total		Realized		Deferred		Principal

Class	Type	Cur	Face Value		Balance		Interest		Principal		Distribution		Loss		Interest		Balance


					(1)		(2)		(3)		(4)=(2)+(3)		(5)		(6)		(7)=(1)-(3)-(5)+(6)

A-1SS	FLT, SR	$	334,795,000.00		311,529,170.30		869,036.58		11,049,348.79		11,918,385.37		0.00		0.00		300,479,821.51

A-1MZ	FLT, SR	$	37,200,000.00		34,614,869.23		96,056.26		1,227,723.76		1,323,780.02		0.00		0.00		33,387,145.47
A-2SS	FLT, SR	$	503,344,000.00		468,773,892.61		1,285,221.76		16,110,795.55		17,396,017.31		0.00		0.00		452,663,097.06
A-2MZ	FLT, SR	$	125,837,000.00		117,194,404.48		324,237.85		4,027,730.89		4,351,968.74		0.00		0.00		113,166,673.59
A-3A	FLT, SR	$	155,611,000.00		122,999,433.55		322,873.51		14,404,553.88		14,727,427.39		0.00		0.00		108,594,879.67
A-3B	FLT, SR	$	164,000,000.00		164,000,000.00		442,800.00		0.00		442,800.00		0.00		0.00		164,000,000.00
A-3C	FLT, SR	$	40,000,000.00		40,000,000.00		112,666.67		0.00		112,666.67		0.00		0.00		40,000,000.00
A-3MZ	FLT, SR	$	39,957,000.00		36,333,472.47		101,430.94		1,600,514.89		1,701,945.83		0.00		0.00		34,732,957.58
M-1	MEZ, FLT	$	53,117,000.00		53,117,000.00		153,596.66		0.00		153,596.66		0.00		0.00		53,117,000.00
M-2	MEZ, FLT	$	49,690,000.00		49,690,000.00		144,515.08		0.00		144,515.08		0.00		0.00		49,690,000.00
M-3	MEZ, FLT	$	34,268,000.00		34,268,000.00		101,090.60		0.00		101,090.60		0.00		0.00		34,268,000.00
M-4	MEZ, FLT	$	29,129,000.00		29,129,000.00		90,785.38		0.00		90,785.38		0.00		0.00		29,129,000.00
M-5	MEZ, FLT	$	25,702,000.00		25,702,000.00		81,175.48		0.00		81,175.48		0.00		0.00		25,702,000.00
M-6	MEZ, FLT	$	21,418,000.00		21,418,000.00		69,430.02		0.00		69,430.02		0.00		0.00		21,418,000.00
B-1	MEZ, FLT	$	20,561,000.00		20,561,000.00		74,876.31		0.00		74,876.31		0.00		0.00		20,561,000.00
B-2	MEZ, FLT	$	14,565,000.00		14,565,000.00		54,497.38		0.00		54,497.38		0.00		0.00		14,565,000.00
B-3	MEZ, FLT	$	17,134,000.00		17,134,000.00		76,674.65		0.00		76,674.65		0.00		0.00		17,134,000.00
X	EXE	$	47,120,448.00		47,119,832.32		4,663,495.29		0.00		4,663,495.29		0.00		0.00		47,119,832.32
P	SUB	$	0.00		0.00		1,055,326.32		0.00		1,055,326.32		0.00		0.00		0.00
R	RES	$	0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00


Total			1,713,448,448.00		1,608,149,074.96		10,119,786.74		48,420,667.76		58,540,454.50		0.00		0.00		1,559,728,407.20






Page 2 of 34
Morgan Stanley ABS Capital I Inc. 2005-HE1

Mortgage Pass-Through Certificates

2005-HE1

May 25, 2005 Distribution

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)		(1)		(2)		(3)		(4)=(2)+(3)	(5)
A-1SS	04/25/05		05/24/05		A-Act/360		61744CKX3		334,795,000.00		930.507237		2.595727		33.003327		35.599054	897.503910
A-1MZ	04/25/05		05/24/05		A-Act/360		61744CKG0		37,200,000.00		930.507237		2.582158		33.003327		35.585484	897.503910
A-2SS	04/25/05		05/24/05		A-Act/360		61744CKY1		503,344,000.00		931.319123		2.553367		32.007525		34.560891	899.311598
A-2MZ	04/25/05		05/24/05		A-Act/360		61744CKH8		125,837,000.00		931.319123		2.576650		32.007525		34.584174	899.311598
A-3A	04/25/05		05/24/05		A-Act/360		61744CKJ4		155,611,000.00		790.428913		2.074876		92.567710		94.642586	697.861203
A-3B	04/25/05		05/24/05		A-Act/360		61744CKK1		164,000,000.00		1,000.000000		2.700000		0.000000		2.700000	1,000.000000
A-3C	04/25/05		05/24/05		A-Act/360		61744CKL9		40,000,000.00		1,000.000000		2.816667		0.000000		2.816667	1,000.000000
A-3MZ	04/25/05		05/24/05		A-Act/360		61744CKM7		39,957,000.00		909.314325		2.538502		40.055932		42.594435	869.258392
M-1	04/25/05		05/24/05		A-Act/360		61744CKN5		53,117,000.00		1,000.000000		2.891667		0.000000		2.891667	1,000.000000
M-2	04/25/05		05/24/05		A-Act/360		61744CKP0		49,690,000.00		1,000.000000		2.908333		0.000000		2.908333	1,000.000000
M-3	04/25/05		05/24/05		A-Act/360		61744CKQ8		34,268,000.00		1,000.000000		2.950000		0.000000		2.950000	1,000.000000
M-4	04/25/05		05/24/05		A-Act/360		61744CKR6		29,129,000.00		1,000.000000		3.116667		0.000000		3.116667	1,000.000000
M-5	04/25/05		05/24/05		A-Act/360		61744CKS4		25,702,000.00		1,000.000000		3.158333		0.000000		3.158333	1,000.000000
M-6	04/25/05		05/24/05		A-Act/360		61744CKT2		21,418,000.00		1,000.000000		3.241667		0.000000		3.241667	1,000.000000
B-1	04/25/05		05/24/05		A-Act/360		61744CKU9		20,561,000.00		1,000.000000		3.641667		0.000000		3.641667	1,000.000000
B-2	04/25/05		05/24/05		A-Act/360		61744CKV7		14,565,000.00		1,000.000000		3.741667		0.000000		3.741667	1,000.000000
B-3	04/25/05		05/24/05		A-Act/360		61744CKW5		17,134,000.00		1,000.000000		4.475000		0.000000		4.475000	1,000.000000
X	04/25/05		05/24/05		A-30/360				47,120,448.00		999.986934		98.969672		0.000000		98.969672	999.986934
P	04/25/05		05/24/05		A-30/360				0.00		0.000000		0.000000		0.000000		0.000000	0.000000
R	04/25/05		05/24/05		A-30/360				0.00		0.000000		0.000000		0.000000		0.000000	0.000000




Page 3 of 34
Morgan Stanley ABS Capital I Inc. 2005-HE1

Mortgage Pass-Through Certificates

2005-HE1

May 25, 2005 Distribution

Distribution to Date -
																	Current


	Original				Unscheduled		Scheduled		Total		Total		Realized		Deferred		Principal

Class	Face Value		Interest		Principal		Principal		Principal		Distribution		Loss		Interest		Balance
	(1)		(2)		(3)		(4)		(5)=(3)+(4)		(6)=(2)+(5)		(7)		(8)		(9)=(1)-(5)-(7)+(8)
A-1SS	334,795,000.00		3,313,287.45		33,207,621.92		1,107,581.23		34,315,203.15		37,628,490.60		0.00		0.00		300,479,821.51
A-1MZ	37,200,000.00		366,064.47		3,689,790.85		123,066.42		3,812,857.27		4,178,921.74		0.00		0.00		33,387,145.47
A-2SS	503,344,000.00		4,886,157.85		49,028,222.36		1,652,686.98		50,680,909.34		55,567,067.19		0.00		0.00		452,663,097.06
A-2MZ	125,837,000.00		1,233,628.13		12,257,152.98		413,175.03		12,670,328.01		13,903,956.14		0.00		0.00		113,166,673.59
A-3A	155,611,000.00		1,332,882.83		45,459,690.63		1,556,397.84		47,016,088.47		48,348,971.30		0.00		0.00		108,594,879.67
A-3B	164,000,000.00		1,620,235.26		0.00		0.00		0.00		1,620,235.26		0.00		0.00		164,000,000.00
A-3C	40,000,000.00		413,690.45		0.00		0.00		0.00		413,690.45		0.00		0.00		40,000,000.00
A-3MZ	39,957,000.00		390,551.47		5,051,104.82		172,934.06		5,224,038.88		5,614,590.35		0.00		0.00		34,732,957.58
M-1	53,117,000.00		565,152.20		0.00		0.00		0.00		565,152.20		0.00		0.00		53,117,000.00
M-2	49,690,000.00		531,974.79		0.00		0.00		0.00		531,974.79		0.00		0.00		49,690,000.00
M-3	34,268,000.00		372,532.57		0.00		0.00		0.00		372,532.57		0.00		0.00		34,268,000.00
M-4	29,129,000.00		335,923.23		0.00		0.00		0.00		335,923.23		0.00		0.00		29,129,000.00
M-5	25,702,000.00		300,650.15		0.00		0.00		0.00		300,650.15		0.00		0.00		25,702,000.00
M-6	21,418,000.00		257,617.72		0.00		0.00		0.00		257,617.72		0.00		0.00		21,418,000.00
B-1	20,561,000.00		279,933.11		0.00		0.00		0.00		279,933.11		0.00		0.00		20,561,000.00
B-2	14,565,000.00		204,076.45		0.00		0.00		0.00		204,076.45		0.00		0.00		14,565,000.00
B-3	17,134,000.00		289,912.70		0.00		0.00		0.00		289,912.70		0.00		0.00		17,134,000.00
X	47,120,448.00		20,861,389.08		578.90		27.54		615.68		20,862,004.76		9.24		9.24		47,119,832.32
P	0.00		2,565,214.27		0.00		0.00		0.00		2,565,214.27		0.00		0.00		0.00
R	0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00


Total	1,713,448,448.00		40,120,874.18		148,694,162.46		5,025,869.10		153,720,040.80		193,840,914.98		9.24		9.24		1,559,728,407.20



Page 4 of 34
Morgan Stanley ABS Capital I Inc. 2005-HE1

Mortgage Pass-Through Certificates

2005-HE1

May 25, 2005 Distribution

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		Adjustment		Interest		Interest		Interest
					(1)		(2)		(3)		(4)		(5)=(1)-(2)+(3)+(4)		(6)		(7)=(5)-(6)
A-1SS	3.34750%		311,529,170.30		869,036.58		0.00		0.00		0.00		869,036.58		869,036.58		0.00
A-1MZ	3.33000%		34,614,869.23		96,056.26		0.00		0.00		0.00		96,056.26		96,056.26		0.00
A-2SS	3.29000%		468,773,892.61		1,285,221.76		0.00		0.00		0.00		1,285,221.76		1,285,221.76		0.00
A-2MZ	3.32000%		117,194,404.48		324,237.85		0.00		0.00		0.00		324,237.85		324,237.85		0.00
A-3A	3.15000%		122,999,433.55		322,873.51		0.00		0.00		0.00		322,873.51		322,873.51		0.00
A-3B	3.24000%		164,000,000.00		442,800.00		0.00		0.00		0.00		442,800.00		442,800.00		0.00
A-3C	3.38000%		40,000,000.00		112,666.67		0.00		0.00		0.00		112,666.67		112,666.67		0.00
A-3MZ	3.35000%		36,333,472.47		101,430.94		0.00		0.00		0.00		101,430.94		101,430.94		0.00
M-1	3.47000%		53,117,000.00		153,596.66		0.00		0.00		0.00		153,596.66		153,596.66		0.00
M-2	3.49000%		49,690,000.00		144,515.08		0.00		0.00		0.00		144,515.08		144,515.08		0.00
M-3	3.54000%		34,268,000.00		101,090.60		0.00		0.00		0.00		101,090.60		101,090.60		0.00
M-4	3.74000%		29,129,000.00		90,785.38		0.00		0.00		0.00		90,785.38		90,785.38		0.00
M-5	3.79000%		25,702,000.00		81,175.48		0.00		0.00		0.00		81,175.48		81,175.48		0.00
M-6	3.89000%		21,418,000.00		69,430.02		0.00		0.00		0.00		69,430.02		69,430.02		0.00
B-1	4.37000%		20,561,000.00		74,876.31		0.00		0.00		0.00		74,876.31		74,876.31		0.00
B-2	4.49000%		14,565,000.00		54,497.38		0.00		0.00		0.00		54,497.38		54,497.38		0.00
B-3	5.37000%		17,134,000.00		76,674.65		0.00		0.00		0.00		76,674.65		76,674.65		0.00
X	118.76516%		47,119,832.32		0.00		0.00		0.00		0.00		0.00		4,663,495.29		0.00
P	0.00000%		0.00		0.00		0.00		0.00		0.00		0.00		1,055,326.32		0.00
R	0.00000%		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00


Total			1,608,149,074.96		4,400,965.13		0.00		0.00		0.00		4,400,965.13		10,119,786.74		0.00



Page 5 of 34
Morgan Stanley ABS Capital I Inc. 2005-HE1

Mortgage Pass-Through Certificates

2005-HE1

May 25, 2005 Distribution
Collection Account Report
SUMMARY

								Group 3		Group 2		Group 1		Total
Principal Collections								16,005,068.77		20,138,526.44		12,277,072.55		48,420,667.76
Principal Withrawals								0.00		0.00		0.00		0.00
Principal Other Accounts								0.00		0.00		0.00		0.00
TOTAL NET PRINCIPAL								16,005,068.77		#######		12,277,072.55		48,420,667.76
Interest Collections								2,549,445.29		4,179,241.68		2,483,499.40		9,212,186.37
Interest Withdrawals								-0.00		-0.00		-0.00		-0.00
Interest Other Accounts								0.00		0.00		0.00		1,055,326.32
Interest Fees								-39,214.51		-80,435.71		-28,075.74		-147,725.95
TOTAL NET INTEREST								2,510,230.78		4,098,805.97		2,455,423.66		10,119,786.74
TOTAL AVAILABLE FUNDS FOR DISTRIBUTION								18,515,299.55		24,237,332.41		14,732,496.21		58,540,454.50



PRINCIPAL - COLLECTIONS

									Group 3		Group 2		Group 1		Total
Scheduled Principal Received									329,723.54		535,011.37		356,683.78		1,221,418.69
Prepayments In Full									15,654,719.72		19,350,840.74		11,900,195.71		46,905,756.17
Curtailments									20,625.51		252,674.33		20,193.06		293,492.90
Liquidations									0.00		0.00		0.00		0.00
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		-0.00		-0.00
Delinquent Principal									-269,766.42		-396,766.77		-308,348.52		-974,881.71
Advanced Principal									269,766.42		396,766.77		308,348.52		974,881.71
TOTAL PRINCIPAL COLLECTED									16,005,068.77		20,138,526.44		12,277,072.55		48,420,667.76


PRINCIPAL - WITHDRAWALS

SPACE INTENTIONALLY LEFT BLANK



PRINCIPAL - OTHER ACCOUNTS

								Group 3		Group 2		Group 1		Total
Closing Deposit								0.00		0.00		0.00		0.00
TOTAL OTHER ACCOUNTS PRINCIPAL								0.00		0.00		0.00		0.00





Page 6 of 34
Morgan Stanley ABS Capital I Inc. 2005-HE1

Mortgage Pass-Through Certificates

2005-HE1

May 25, 2005 Distribution

INTEREST - COLLECTIONS

								Group 3		Group 2		Group 1		Total
Scheduled Interest								2,699,804.37		4,403,118.48		2,635,218.01		9,738,140.86
Liquidation Interest								0.00		0.00		0.00		0.00
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
Prepayment Interest Shortfalls								-26,735.70		-30,036.88		-32,769.20		-89,541.78
Compensating Interest								26,735.70		30,036.88		32,769.19		89,541.77
Delinquent Interest								-2,157,810.33		-3,267,420.79		-2,238,711.04		-7,663,942.16
Interest Advanced								2,007,451.25		3,043,544.00		2,086,992.43		7,137,987.68
TOTAL INTEREST COLLECTED								2,549,445.29		4,179,241.68		2,483,499.40		9,212,186.37


INTEREST - WITHDRAWALS

								Group 3		Group 2		Group 1		Total
Nonrecoverable Advances										0.00		0.00		0.00
TOTAL INTEREST WITHDRAWALS								0.00		0.00		0.00		0.00



INTEREST - OTHER ACCOUNTS

								Group 3		Group 2		Group 1		Total
Prepayment Charges														1,055,326.32
TOTAL INTEREST OTHER ACCOUNTS								0.00		0.00		0.00		1,055,326.32



INTEREST - FEES

								Group 3		Group 2		Group 1		Total
Current Servicing Fees								38,196.31		37,577.68		17,122.33		144,107.63
Current Trustee Fees								1,018.20		1,057.91		494.10		3,618.34
TOTAL INTEREST OTHER FEES								39,214.51		80,435.71		28,075.74		147,725.95




Page 7 of 34
Morgan Stanley ABS Capital I Inc. 2005-HE1

Mortgage Pass-Through Certificates

2005-HE1

May 25, 2005 Distribution
Credit Enhancement Report
ACCOUNTS

SPACE INTENTIONALLY LEFT BLANK



INSURANCE

SPACE INTENTIONALLY LEFT BLANK



STRUCTURAL FEATURES

								Group 3		Group 2		Group 1		Total
Overcollateralization Amount														47,119,832.32
Overcollateralization Target Amount														47,119,832.32
Overcollateralization Deficiency Amount														0.00
Overcollateralization Release Amount														0.00




Page 8 of 34
Morgan Stanley ABS Capital I Inc. 2005-HE1

Mortgage Pass-Through Certificates

2005-HE1

May 25, 2005 Distribution
Collateral Report


COLLATERAL



									Group 3		Group 2		Group 1		Total



Loan Count:


Original								2,090		5,208		3,052		10,350
Prior								1,963		4,974		2,910		9,847
Prefunding								0		0		0		0
Scheduled Paid Offs								-0		-0		-0		-0
Full Voluntary Prepayments								-61		-111		-76		-248
Repurchases								-0		-0		-0		-0
Liquidations								-0		-0		-0		-0
Current								1,902		4,863		2,834		9,599
Principal Balance:


Original								488,767,620.24		769,640,075.49		455,039,626.95		1,713,447,322.68
Prior								452,532,945.26		726,427,305.19		429,188,824.51		1,608,149,074.96
Prefunding								0.00		0.00		0.00		0.00
Scheduled Principal								-329,723.54		-535,011.37		-356,683.78		-1,221,418.69
Partial Prepayments								-20,625.51		-252,674.33		-20,193.06		-293,492.90
Full Voluntary Prepayments								-15,654,719.72		-19,350,840.74		-11,900,195.71		-46,905,756.17
Repurchases								-0.00		-0.00		-0.00		-0.00
Liquidations								-0.00		-0.00		-0.00		-0.00
Current								436,527,876.49		706,288,778.75		416,911,751.96		1,559,728,407.20





PREFUNDING

SPACE INTENTIONALLY LEFT BLANK






Page 9 of 34
Morgan Stanley ABS Capital I Inc. 2005-HE1

Mortgage Pass-Through Certificates

2005-HE1

May 25, 2005 Distribution

CHARACTERISTICS

								Group 3		Group 2		Group 1		Total
Weighted Average Coupon Original								7.16693%		7.27649%		7.38652%		7.27446%
Weighted Average Coupon Prior								7.16467%		7.27270%		7.38020%		7.27088%
Weighted Average Coupon Current								7.15918%		7.26602%		7.36800%		7.26317%
Weighted Average Months to Maturity Original								352		351		351		351
Weighted Average Months to Maturity Prior								350		349		349		349
Weighted Average Months to Maturity Current								349		347		347		348
Weighted Avg Remaining Amortization Term Original								352		351		351		351
Weighted Avg Remaining Amortization Term Prior								350		349		349		349
Weighted Avg Remaining Amortization Term Current								349		347		347		348
Weighted Average Seasoning Original								4.64		4.35		5.20		4.66
Weighted Average Seasoning Prior								6.70		6.52		7.20		6.75
Weighted Average Seasoning Current								7.69		7.52		8.20		7.75









Page 10 of 34
Morgan Stanley ABS Capital I Inc. 2005-HE1

Mortgage Pass-Through Certificates

2005-HE1

May 25, 2005 Distribution

ARM CHARACTERISTICS

								Group 3		Group 2		Group 1		Total
Weighted Average Margin Original								5.68566%		6.03942%		5.70199%		5.85375%
Weighted Average Margin Prior								5.68476%		6.04227%		5.69756%		5.85437%
Weighted Average Margin Current								5.68080%		6.03785%		5.68986%		5.84954%
Weighted Average Max Rate Original								13.70298%		13.92959%		13.43665%		13.73937%
Weighted Average Max Rate Prior								13.69354%		13.92121%		13.42712%		13.73043%
Weighted Average Max Rate Current								13.68827%		13.91202%		13.41325%		13.72122%
Weighted Average Min Rate Original								7.12363%		7.24822%		7.42933%		7.26008%
Weighted Average Min Rate Prior								7.11901%		7.24142%		7.42063%		7.25408%
Weighted Average Min Rate Current								7.11529%		7.23315%		7.40658%		7.24576%
Weighted Average Cap Up Original								1.30346%		1.34515%		1.00358%		1.24554%
Weighted Average Cap Up Prior								1.30031%		1.34452%		1.00316%		1.24390%
Weighted Average Cap Up Current								1.29834%		1.34420%		1.00325%		1.24318%
Weighted Average Cap Down Original								1.30346%		1.34515%		1.00358%		1.24554%
Weighted Average Cap Down Prior								1.30031%		1.34452%		1.00316%		1.24390%
Weighted Average Cap Down Current								1.29834%		1.34420%		1.00325%		1.24318%




SERVICING FEES & ADVANCES

									Group 3		Group 2		Group 1		Total




Current Servicing Fees								38,196.31		37,577.68		17,122.33		144,107.63
Delinquent Servicing Fees								150,359.08		223,876.80		151,718.61		525,954.49
TOTAL SERVICING FEES								188,555.39		302,678.05		178,828.69		670,062.13


Compensating Interest								-26,735.70		-30,036.88		-32,769.19		-89,541.77
Delinquent Servicing Fees								-150,359.08		-223,876.80		-151,718.61		-525,954.49
COLLECTED SERVICING FEES								11,460.62		48,764.38		-5,659.12		54,565.87


Aggregate Advances with respect to this Distribution								590,001.01		715,197.56		591,086.15		1,306,283.71





ADDITIONAL COLLATERAL INFORMATION
								Group 3		Group 2		Group 1		Total
Net Prepayment Interest Shortfall								0.00		0.00		0.00		0.00
Libor For Current Period														3.0200%




Page 11 of 34
Morgan Stanley ABS Capital I Inc. 2005-HE1

Mortgage Pass-Through Certificates

2005-HE1

May 25, 2005 Distribution
Delinquency Report

	TOTAL
					< 1 PAYMENT		1 PAYMENT		2 PAYMENTS		3+ PAYMENTS		TOTAL
	DELINQUENT		Balance				24,872,321.42		5,026,438.34		1,772,104.42		31,670,864.18
			% Balance				1.59%		0.32%		0.11%		2.03%
			# Loans				155		39		10		204
			% # Loans				1.61%		0.41%		0.10%		2.13%
	FORECLOSURE		Balance		0.00		314,762.98		3,599,329.58		3,491,053.64		7,405,146.20
			% Balance		0.00%		0.02%		0.23%		0.22%		0.47%
			# Loans		0		2		30		22		54
			% # Loans		0.00%		0.02%		0.31%		0.23%		0.56%
	BANKRUPTCY		Balance		2,765,632.05		481,608.91		611,723.58		0.00		3,858,964.54
			% Balance		0.18%		0.03%		0.04%		0.00%		0.25%
			# Loans		20		2		4		0		26
			% # Loans		0.21%		0.02%		0.04%		0.00%		0.27%
	REO		Balance		0.00		0.00		0.00		51,799.98		51,799.98
			% Balance		0.00%		0.00%		0.00%		0.00%		0.00%
			# Loans		0		0		0		1		1
			% # Loans		0.00%		0.00%		0.00%		0.01%		0.01%
	TOTAL		Balance		2,765,632.05		25,668,693.31		9,237,491.50		5,314,958.04		42,986,774.90
			% Balance		0.18%		1.65%		0.59%		0.34%		2.76%
			# Loans		20		159		73		33		285
			% # Loans		0.21%		1.66%		0.76%		0.34%		2.97%









Page 12 of 34
Morgan Stanley ABS Capital I Inc. 2005-HE1

Mortgage Pass-Through Certificates

2005-HE1

May 25, 2005 Distribution


	GROUP 1
					< 1 PAYMENT		1 PAYMENT		2 PAYMENTS		3+ PAYMENTS		TOTAL
	DELINQUENT		Balance				6,405,789.15		1,758,775.48		194,965.38		8,359,530.01
			% Balance				1.54%		0.42%		0.05%		2.01%
			# Loans				43		11		1		55
			% # Loans				1.52%		0.39%		0.04%		1.94%
	FORECLOSURE		Balance		0.00		0.00		1,583,105.09		0.00		1,583,105.09
			% Balance		0.00%		0.00%		0.38%		0.00%		0.38%
			# Loans		0		0		12		0		12
			% # Loans		0.00%		0.00%		0.42%		0.00%		0.42%
	BANKRUPTCY		Balance		560,176.70		65,277.41		437,018.49		0.00		1,062,472.60
			% Balance		0.13%		0.02%		0.10%		0.00%		0.25%
			# Loans		4		1		3		0		8
			% # Loans		0.14%		0.04%		0.11%		0.00%		0.28%
	REO		Balance		0.00		0.00		0.00		0.00		0.00
			% Balance		0.00%		0.00%		0.00%		0.00%		0.00%
			# Loans		0		0		0		0		0
			% # Loans		0.00%		0.00%		0.00%		0.00%		0.00%
	TOTAL		Balance		560,176.70		6,471,066.56		3,778,899.06		194,965.38		11,005,107.70
			% Balance		0.13%		1.55%		0.91%		0.05%		2.64%
			# Loans		4		44		26		1		75
			% # Loans		0.14%		1.55%		0.92%		0.04%		2.65%










Page 13 of 34
Morgan Stanley ABS Capital I Inc. 2005-HE1

Mortgage Pass-Through Certificates

2005-HE1

May 25, 2005 Distribution

	GROUP 2
					< 1 PAYMENT		1 PAYMENT		2 PAYMENTS		3+ PAYMENTS		TOTAL
	DELINQUENT		Balance				11,008,740.67		2,573,782.37		657,070.16		14,239,593.20
			% Balance				1.56%		0.36%		0.09%		2.02%
			# Loans				70		22		5		97
			% # Loans				1.44%		0.45%		0.10%		1.99%
	FORECLOSURE		Balance		0.00		314,762.98		1,520,157.79		2,918,476.43		4,753,397.20
			% Balance		0.00%		0.04%		0.22%		0.41%		0.67%
			# Loans		0		2		13		19		34
			% # Loans		0.00%		0.04%		0.27%		0.39%		0.70%
	BANKRUPTCY		Balance		2,050,404.89		0.00		174,705.09		0.00		2,225,109.98
			% Balance		0.29%		0.00%		0.02%		0.00%		0.32%
			# Loans		14		0		1		0		15
			% # Loans		0.29%		0.00%		0.02%		0.00%		0.31%
	REO		Balance		0.00		0.00		0.00		51,799.98		51,799.98
			% Balance		0.00%		0.00%		0.00%		0.01%		0.01%
			# Loans		0		0		0		1		1
			% # Loans		0.00%		0.00%		0.00%		0.02%		0.02%
	TOTAL		Balance		2,050,404.89		11,323,503.65		4,268,645.25		3,627,346.57		21,269,900.36
			% Balance		0.29%		1.60%		0.60%		0.51%		3.01%
			# Loans		14		72		36		25		147
			% # Loans		0.29%		1.48%		0.74%		0.51%		3.02%










Page 14 of 34
Morgan Stanley ABS Capital I Inc. 2005-HE1

Mortgage Pass-Through Certificates

2005-HE1

May 25, 2005 Distribution

	GROUP 3
					< 1 PAYMENT		1 PAYMENT		2 PAYMENTS		3+ PAYMENTS		TOTAL
	DELINQUENT		Balance				7,457,791.60		693,880.49		920,068.88		9,071,740.97
			% Balance				1.71%		0.16%		0.21%		2.08%
			# Loans				42		6		4		52
			% # Loans				2.21%		0.32%		0.21%		2.73%
	FORECLOSURE		Balance		0.00		0.00		496,066.70		572,577.21		1,068,643.91
			% Balance		0.00%		0.00%		0.11%		0.13%		0.24%
			# Loans		0		0		5		3		8
			% # Loans		0.00%		0.00%		0.26%		0.16%		0.42%
	BANKRUPTCY		Balance		155,050.46		416,331.50		0.00		0.00		571,381.96
			% Balance		0.04%		0.10%		0.00%		0.00%		0.13%
			# Loans		2		1		0		0		3
			% # Loans		0.11%		0.05%		0.00%		0.00%		0.16%
	REO		Balance		0.00		0.00		0.00		0.00		0.00
			% Balance		0.00%		0.00%		0.00%		0.00%		0.00%
			# Loans		0		0		0		0		0
			% # Loans		0.00%		0.00%		0.00%		0.00%		0.00%
	TOTAL		Balance		155,050.46		7,874,123.10		1,189,947.19		1,492,646.09		10,711,766.84
			% Balance		0.04%		1.80%		0.27%		0.34%		2.45%
			# Loans		2		43		11		7		63
			% # Loans		0.11%		2.26%		0.58%		0.37%		3.31%









Page 15 of 34
Morgan Stanley ABS Capital I Inc. 2005-HE1

Mortgage Pass-Through Certificates

2005-HE1

May 25, 2005 Distribution
REO Report
Loan Number			Original		Stated				Current		State &

														First
&			Principal		Principal		Paid to		Note		LTV at		Original		Payment

Loan Group			Balance		Balance		Date		Rate		Origination		Term		Date
38038063 2
			52,000.00		51,799.98		01-Dec-2004		9.750%		TN - 80.00%		360		01-Oct-2004



TOTAL			52,000.00		51,799.98



Page 16 of 34
Morgan Stanley ABS Capital I Inc. 2005-HE1

Mortgage Pass-Through Certificates

2005-HE1

May 25, 2005 Distribution
Foreclosure Report
Loan Number			Original		Stated				Current		State &

														First
&			Principal		Principal		Paid to		Note		LTV at		Original		Payment

Loan Group			Balance		Balance		Date		Rate		Origination		Term		Date
13792510 1
			110,000.00		109,633.73		01-Jan-2005		11.000%		CA - 55.00%		360		01-Sep-2004

13939061 1			236,000.00		235,007.86		01-Jan-2005		9.900%		MI - 80.00%		360		01-Sep-2004
13960224 1			68,800.00		68,364.69		01-Jan-2005		7.900%		MI - 80.00%		360		01-Sep-2004
13963467 1			172,500.00		171,837.56		01-Jan-2005		9.750%		IL - 75.00%		360		01-Oct-2004
14009484 1			136,000.00		135,044.62		01-Jan-2005		6.750%		OH - 80.00%		360		01-Oct-2004
14114219 1			100,000.00		99,619.97		01-Jan-2005		9.800%		TX - 80.00%		360		01-Oct-2004
14144174 1			185,250.00		184,201.13		01-Jan-2005		7.850%		MA - 75.00%		360		01-Oct-2004
14153050 1			96,000.00		95,642.77		01-Jan-2005		9.900%		WI - 80.00%		360		01-Oct-2004
14153324 1			132,000.00		131,166.83		01-Jan-2005		7.300%		MA - 80.00%		360		01-Oct-2004
14167324 1			76,500.00		76,130.56		01-Jan-2005		8.640%		MI - 90.00%		360		01-Oct-2004
14172530 1			138,000.00		137,058.25		01-Jan-2005		6.900%		MA - 61.33%		360		01-Oct-2004
14198360 1			140,250.00		139,397.12		01-Jan-2005		8.100%		OR - 75.00%		360		01-Sep-2004
37851646 2			152,000.00		150,877.45		01-Nov-2004		6.490%		CO - 80.00%		360		01-Oct-2004
37855086 2			85,000.00		84,749.49		01-Nov-2004		10.999%		MI - 85.00%		360		01-Oct-2004
37855254 2			225,250.00		224,454.67		01-Dec-2004		10.150%		VA - 85.00%		360		01-Oct-2004
37856446 2			66,750.00		66,283.93		01-Dec-2004		6.799%		OK - 75.00%		360		01-Oct-2004
37940875 2			263,740.00		263,671.65		01-Dec-2004		5.975%		CA - 80.00%		360		01-Aug-2004
38029222 2			60,300.00		60,058.53		01-Nov-2004		9.550%		SC - 88.68%		360		01-Oct-2004
38032014 2			56,000.00		55,510.81		01-Dec-2004		5.600%		OH - 68.71%		360		01-Oct-2004
38032062 2			134,910.00		133,934.45		01-Feb-2005		6.600%		VA - 89.94%		360		01-Oct-2004
38032774 2			218,400.00		217,087.61		01-Dec-2004		7.550%		RI - 80.00%		360		01-Oct-2004
38033214 2			94,500.00		93,953.08		01-Dec-2004		7.740%		TN - 90.00%		360		01-Oct-2004
38033734 2			199,500.00		198,690.95		01-Dec-2004		8.840%		NJ - 70.00%		360		01-Nov-2004
38034038 2			102,000.00		101,336.55		01-Jan-2005		7.150%		TN - 79.07%		360		01-Oct-2004
38041623 2			182,200.00		180,828.53		01-Feb-2005		6.390%		OH - 67.48%		360		01-Oct-2004
38043216 2			99,000.00		98,453.75		01-Jan-2005		7.290%		MO - 90.00%		360		01-Nov-2004
322812082 2			39,000.00		38,416.94		01-Jan-2005		11.050%		CA - 20.00%		240		01-Oct-2004
322812447 2			213,750.00		212,190.68		01-Jan-2005		6.800%		IL - 95.00%		360		01-Oct-2004
322813213 2			191,000.00		190,172.59		01-Nov-2004		8.500%		CA - 73.46%		360		01-Nov-2004
322814047 2			59,250.00		59,006.09		01-Jan-2005		8.750%		NJ - 75.00%		360		01-Nov-2004
322814302 2			114,300.00		113,933.19		01-Jan-2005		9.950%		GA - 90.00%		360		01-Nov-2004
322814427 2			280,500.00		278,940.21		01-Nov-2004		7.250%		NJ - 85.00%		360		01-Nov-2004
322815580 2			132,000.00		132,000.00		01-Dec-2004		7.750%		OR - 80.00%		360		01-Nov-2004
322816877 2			172,000.00		170,975.87		01-Dec-2004		6.900%		CO - 80.00%		360		01-Nov-2004
322827239 2			114,660.00		114,124.16		01-Nov-2004		8.125%		ID - 90.00%		360		01-Nov-2004
322827809 2			94,500.00		94,016.82		01-Dec-2004		7.675%		TX - 70.00%		360		01-Nov-2004
322829318 2			137,600.00		136,653.84		01-Jan-2005		6.150%		GA - 80.00%		360		01-Nov-2004
322829490 2			78,400.00		78,077.23		01-Nov-2004		8.750%		MI - 80.00%		360		01-Nov-2004
322831199 2			111,600.00		111,086.26		01-Jan-2005		8.200%		CO - 80.00%		360		01-Nov-2004
322832205 2			86,400.00		86,069.80		01-Jan-2005		9.125%		TX - 79.63%		360		01-Nov-2004
322832239 2			112,000.00		111,452.40		01-Jan-2005		7.900%		TX - 80.00%		360		01-Nov-2004
322843079 2			323,000.00		321,372.89		01-Dec-2004		7.750%		GA - 85.00%		360		01-Nov-2004
322845595 2			140,800.00		140,205.38		01-Jan-2005		8.625%		VA - 80.00%		360		01-Nov-2004
322848458 2			258,750.00		257,600.35		01-Jan-2005		8.375%		NJ - 75.00%		360		01-Nov-2004
322848508 2			53,900.00		53,752.56		01-Jan-2005		11.700%		IN - 70.00%		360		01-Nov-2004
322848961 2			124,000.00		123,458.49		01-Dec-2004		8.550%		MO - 78.48%		360		01-Nov-2004
14039036 3			65,731.00		65,426.89		01-Jan-2005		8.850%		IN - 80.00%		360		01-Oct-2004
14147169 3			119,700.00		119,040.98		01-Jan-2005		7.990%		CT - 90.00%		360		01-Oct-2004
14157697 3			131,750.00		131,029.19		01-Jan-2005		8.240%		MA - 85.00%		360		01-Oct-2004



Page 17 of 34
Morgan Stanley ABS Capital I Inc. 2005-HE1

Mortgage Pass-Through Certificates

2005-HE1

May 25, 2005 Distribution

Loan Number			Original		Stated				Current		State &

														First
&			Principal		Principal		Paid to		Note		LTV at		Original		Payment

Loan Group			Balance		Balance		Date		Rate		Origination		Term		Date
14176119 3
			106,500.00		106,103.71		01-Jan-2005		9.900%		MN - 75.00%		360		01-Oct-2004

38032278 3			87,920.00		87,324.79		01-Dec-2004		6.950%		MN - 75.15%		360		01-Oct-2004
38036039 3			385,000.00		382,418.18		01-Nov-2004		6.990%		CA - 70.00%		360		01-Oct-2004
322847302 3			103,500.00		102,834.24		01-Nov-2004		6.500%		MI - 76.10%		360		01-Nov-2004
322852104 3			74,800.00		74,465.93		01-Jan-2005		8.350%		SC - 85.00%		360		01-Nov-2004


TOTAL			7,443,161.00		7,405,146.20



Page 18 of 34
Morgan Stanley ABS Capital I Inc. 2005-HE1

Mortgage Pass-Through Certificates

2005-HE1

May 25, 2005 Distribution
Prepayment Report

VOLUNTARY PREPAYMENTS


									Group 3		Group 2		Group 1		Total




Current


Number of Paid in Full Loans								61		111		76		248
Number of Repurchased Loans								0		0		0		0
Total Number of Loans Prepaid in Full								61		111		76		248
Curtailments Amount								20,625.51		252,674.33		20,193.06		293,492.90
Paid in Full Balance								15,654,719.72		19,350,840.74		11,900,195.71		46,905,756.17
Repurchased Loans Balance								0.00		0.00		0.00		0.00
Total Prepayment Amount								15,675,345.23		19,603,515.07		11,920,388.77		47,199,249.07

Cumulative


Number of Paid in Full Loans								190		348		218		756
Number of Repurchased Loans								1		0		0		1
Total Number of Loans Prepaid in Full								191		348		218		757
Paid in Full Balance								50,454,350.24		61,001,579.46		36,577,893.68		148,033,823.38
Repurchased Loans Balance								237,278.82		0.00		0.00		237,278.82
Curtailments Amount								178,456.74		157,927.89		85,550.31		421,934.94
Total Prepayment Amount								50,870,085.80		61,159,507.35		36,663,443.99		148,693,037.14










Page 19 of 34
Morgan Stanley ABS Capital I Inc. 2005-HE1

Mortgage Pass-Through Certificates

2005-HE1

May 25, 2005 Distribution

VOLUNTARY PREPAYMENTS RATES


									Group 3		Group 2		Group 1		Total



SMM								3.47%		2.70%		2.78%		2.94%
3 Months Avg SMM								2.91%		2.26%		2.35%		2.47%
12 Months Avg SMM								2.72%		2.05%		2.08%		2.25%
Avg SMM Since Cut-off								2.72%		2.05%		2.08%		2.25%


CPR								34.52%		28.00%		28.70%		30.08%
3 Months Avg CPR								29.87%		24.02%		24.79%		25.92%
12 Months Avg CPR								28.14%		22.04%		22.32%		23.88%
Avg CPR Since Cut-off								28.14%		22.04%		22.32%		23.88%


PSA								2,242.74%		1,862.51%		1,750.00%		1,940.44%
3 Months Avg PSA Approximation								2,236.56%		1,858.63%		1,722.07%		1,928.71%
12 Months Avg PSA Approximation								2,280.08%		1,856.89%		1,666.48%		1,924.93%
Avg PSA Since Cut-off Approximation								2,280.08%		1,856.89%		1,666.48%		1,924.93%










Page 20 of 34
Morgan Stanley ABS Capital I Inc. 2005-HE1

Mortgage Pass-Through Certificates

2005-HE1

May 25, 2005 Distribution






PREPAYMENT CALCULATION METHODOLOGY

Single Monthly Mortality (SMM): (Voluntary partial and full prepayments + Repurchases + Liquidations )/(Beg Principal Balance - Sched Principal) Conditional Prepayment Rate (CPR): 1-((1-SMM)^12) PSA Standard Prepayment Model: CPR/(0.002min(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) Conditional Prepayment Rate (CPR): 1-((1-SMM)^12) 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) Dates correspond to distribution dates. Note: Prepayment rates are calculated since deal issue date and include partial and full voluntary prepayments, liquidations, and repurchases.













Page 21 of 34
Morgan Stanley ABS Capital I Inc. 2005-HE1

Mortgage Pass-Through Certificates

2005-HE1

May 25, 2005 Distribution
Prepayment Detail Report
Prepayment Detail Report - Mortgage Loans Prepaid in Full During Current Distribution
Loan Number			Original							Current		State &		Type Prepayment		First


&		Loan	Principal		Prepayment			Prepayment		Note		LTV at		&		Payment

Loan Group		Status	Balance		Amount			Date		Rate		Origination		Original Term		Date

13675335 3			500,000.00		496,075.21			01-Apr-2005		6.800%		NH - 64.94%		Paid Off - 360		01-Aug-2004


13792239 3			80,400.00		80,097.66			07-Apr-2005		9.850%		NC - 53.25%		Paid Off - 360		01-Sep-2004

13792858 3			206,250.00		205,563.69			07-Apr-2005		10.450%		NJ - 75.00%		Paid Off - 360		01-Sep-2004

13794938 1			161,000.00		160,224.09			28-Apr-2005		8.650%		CA - 70.00%		Paid Off - 360		01-Sep-2004

13839063 1			202,500.00		200,758.19			14-Apr-2005		6.300%		MA - 72.32%		Paid Off - 360		01-Sep-2004

13862271 1			68,000.00		67,641.09			20-Apr-2005		8.200%		MO - 80.00%		Paid Off - 360		01-Sep-2004

13871694 1			68,000.00		67,587.30			04-Apr-2005		7.500%		RI - 85.00%		Paid Off - 360		01-Sep-2004

13889068 3			109,200.00		108,767.31			07-Apr-2005		9.600%		MO - 80.00%		Paid Off - 360		01-Sep-2004

13931613 1			121,000.00		120,301.14			05-Apr-2005		7.750%		MD - 65.41%		Paid Off - 360		01-Sep-2004

13934872 1			292,000.00		290,597.96			11-Apr-2005		7.990%		CA - 80.00%		Paid Off - 360		01-Oct-2004

13936646 1			112,000.00		111,306.76			01-Apr-2005		7.400%		MI - 80.00%		Paid Off - 360		01-Sep-2004

13957097 1			131,200.00		130,617.41			19-Apr-2005		9.050%		NJ - 80.00%		Paid Off - 360		01-Sep-2004

13960463 1			80,000.00		79,616.67			29-Apr-2005		8.000%		MI - 67.80%		Paid Off - 360		01-Oct-2004

13963046 1			173,800.00		173,160.08			05-Apr-2005		9.350%		CA - 68.97%		Paid Off - 360		01-Oct-2004

13971338 1			64,600.00		64,357.11			28-Apr-2005		9.850%		FL - 85.00%		Paid Off - 360		01-Sep-2004

13978085 3			300,000.00		299,246.73			15-Apr-2005		11.100%		IL - 37.50%		Paid Off - 360		01-Oct-2004

13981501 1			207,920.00		206,339.98			21-Apr-2005		6.340%		MA - 80.00%		Paid Off - 360		01-Sep-2004

13996871 3			144,000.00		144,000.00			14-Apr-2005		6.600%		CA - 80.00%		Paid Off - 360		01-Oct-2004

14009898 3			352,000.00		350,178.99			28-Apr-2005		8.300%		MA - 80.00%		Paid Off - 360		01-Sep-2004

14031363 1			122,250.00		121,401.55			12-Apr-2005		8.750%		NJ - 75.00%		Paid Off - 360		01-Oct-2004

14032411 1			247,000.00		245,653.26			11-Apr-2005		7.350%		CA - 89.82%		Paid Off - 360		01-Oct-2004

14033575 1			51,800.00		51,385.90			14-Apr-2005		11.300%		CA - 12.79%		Paid Off - 240		01-Oct-2004

14037881 1			127,500.00		126,648.91			01-Apr-2005		6.380%		CA - 59.58%		Paid Off - 360		01-Oct-2004

14039044 3			360,500.00		357,887.68			04-Apr-2005		6.150%		NY - 70.00%		Paid Off - 360		01-Oct-2004

14043087 1			66,400.00		66,048.72			06-Apr-2005		7.950%		KY - 80.00%		Paid Off - 360		01-Oct-2004

14044937 1			79,200.00		78,796.17			08-Apr-2005		7.700%		MO - 80.00%		Paid Off - 360		01-Oct-2004

14046403 1			97,500.00		97,077.32			08-Apr-2005		8.500%		NY - 75.00%		Paid Off - 360		01-Oct-2004

14053615 1			120,000.00		119,149.21			07-Apr-2005		5.990%		CT - 54.55%		Paid Off - 360		01-Oct-2004

14062749 1			129,000.00		128,231.98			26-Apr-2005		6.900%		IL - 60.00%		Paid Off - 360		01-Oct-2004

14062756 1			184,968.00		183,953.69			19-Apr-2005		7.800%		FL - 80.00%		Paid Off - 360		01-Oct-2004

14062848 1			130,000.00		129,089.03			14-Apr-2005		6.050%		IL - 63.41%		Paid Off - 360		01-Oct-2004

14067540 1			97,200.00		96,675.24			05-Apr-2005		7.400%		MD - 80.00%		Paid Off - 360		01-Oct-2004

14071054 1			50,000.00		49,827.59			01-Apr-2005		10.800%		CT - 9.80%		Paid Off - 360		01-Oct-2004

14073472 3			437,750.00		435,168.43			29-Apr-2005		6.950%		NY - 85.00%		Paid Off - 360		01-Oct-2004

14079396 1			237,000.00		235,107.12			06-Apr-2005		5.350%		NY - 77.96%		Paid Off - 360		01-Oct-2004

14080055 3			342,400.00		340,299.20			26-Apr-2005		6.750%		CA - 87.79%		Paid Off - 360		01-Oct-2004

14080816 1			190,000.00		188,551.27			26-Apr-2005		5.600%		CT - 95.00%		Paid Off - 360		01-Oct-2004




Page 22 of 34
Morgan Stanley ABS Capital I Inc. 2005-HE1

Mortgage Pass-Through Certificates

2005-HE1

May 25, 2005 Distribution

Prepayment Detail Report - Mortgage Loans Prepaid in Full During Current Distribution
Loan Number			Original							Current		State &		Type Prepayment		First


&		Loan	Principal		Prepayment			Prepayment		Note		LTV at		&		Payment

Loan Group		Status	Balance		Amount			Date		Rate		Origination		Original Term		Date

14081301 1			100,000.00		99,571.19			19-Apr-2005		8.550%		FL - 59.52%		Paid Off - 360		01-Oct-2004


14087787 1			147,000.00		146,068.06			22-Apr-2005		6.575%		NV - 63.64%		Paid Off - 360		01-Oct-2004

14087860 1			268,400.00		267,326.53			01-Apr-2005		8.900%		CA - 74.99%		Paid Off - 360		01-Oct-2004

14088330 1			192,000.00		191,109.13			01-Apr-2005		8.200%		NJ - 73.85%		Paid Off - 360		01-Oct-2004

14088546 3			360,000.00		358,186.61			19-Apr-2005		7.750%		FL - 76.60%		Paid Off - 360		01-Oct-2004

14089056 1			412,000.00		412,000.00			22-Apr-2005		6.400%		MA - 79.23%		Paid Off - 360		01-Oct-2004

14097463 3			632,000.00		126,811.03			14-Apr-2005		7.325%		FL - 80.00%		Paid Off - 360		01-Oct-2004

14099477 1			292,500.00		290,741.52			30-Apr-2005		6.850%		CA - 90.00%		Paid Off - 360		01-Oct-2004

14099634 1			170,000.00		169,063.93			13-Apr-2005		7.300%		NJ - 67.46%		Paid Off - 360		01-Oct-2004

14100234 1			240,000.00		238,528.88			27-Apr-2005		6.750%		CA - 75.00%		Paid Off - 360		01-Oct-2004

14100291 1			60,000.00		58,874.75			13-Apr-2005		9.100%		RI - 16.95%		Paid Off - 180		01-Oct-2004

14101471 1			115,520.00		114,908.52			26-Apr-2005		7.500%		OH - 80.00%		Paid Off - 360		01-Oct-2004

14105258 1			90,000.00		89,410.67			21-Apr-2005		6.600%		CO - 52.94%		Paid Off - 360		01-Oct-2004

14105340 1			216,000.00		214,663.18			14-Apr-2005		6.700%		NJ - 88.89%		Paid Off - 360		01-Oct-2004

14105662 1			55,800.00		55,607.34			01-Apr-2005		9.600%		NC - 60.98%		Paid Off - 360		01-Oct-2004

14108864 1			151,450.00		150,537.14			25-Apr-2005		7.200%		CA - 65.00%		Paid Off - 360		01-Oct-2004

14114730 3			287,910.00		286,195.78			25-Apr-2005		6.900%		VT - 90.00%		Paid Off - 360		01-Oct-2004

14115109 1			153,000.00		152,149.07			22-Apr-2005		7.990%		IL - 90.00%		Paid Off - 360		01-Oct-2004

14115307 1			199,900.00		199,093.79			11-Apr-2005		8.850%		KS - 89.98%		Paid Off - 360		01-Oct-2004

14115604 1			212,000.00		210,866.67			05-Apr-2005		7.450%		NJ - 78.52%		Paid Off - 360		01-Oct-2004

14117048 1			65,700.00		65,432.30			29-Apr-2005		8.800%		FL - 90.00%		Paid Off - 360		01-Oct-2004

14118459 1			316,400.00		315,053.32			25-Apr-2005		8.590%		MA - 81.55%		Paid Off - 360		01-Oct-2004

14121610 1			176,400.00		175,335.65			27-Apr-2005		7.200%		MA - 90.00%		Paid Off - 360		01-Oct-2004

14127120 3			270,000.00		270,000.00			07-Apr-2005		7.500%		DE - 90.00%		Paid Off - 360		01-Oct-2004

14131015 1			250,000.00		248,917.07			22-Apr-2005		8.500%		NY - 64.10%		Paid Off - 360		01-Oct-2004

14131361 1			159,000.00		157,977.31			22-Apr-2005		6.500%		IL - 81.54%		Paid Off - 360		01-Oct-2004

14131940 3			200,000.00		200,000.00			18-Apr-2005		6.900%		CA - 80.00%		Paid Off - 360		01-Oct-2004

14131973 1			156,000.00		154,906.83			21-Apr-2005		6.050%		OR - 80.00%		Paid Off - 360		01-Oct-2004

14132930 3			168,000.00		166,740.52			27-Apr-2005		6.990%		NJ - 78.14%		Paid Off - 360		01-Oct-2004

14133284 1			143,000.00		142,067.31			25-Apr-2005		6.750%		MA - 29.07%		Paid Off - 360		01-Oct-2004

14133771 1			200,000.00		199,070.05			28-Apr-2005		8.150%		MD - 78.43%		Paid Off - 360		01-Oct-2004

14134332 1			165,000.00		163,798.50			30-Apr-2005		6.650%		CA - 84.62%		Paid Off - 360		01-Oct-2004

14134845 3			219,920.00		218,833.99			07-Apr-2005		7.850%		FL - 80.00%		Paid Off - 360		01-Oct-2004

14135479 1			104,000.00		103,489.28			11-Apr-2005		8.300%		WI - 80.00%		Paid Off - 360		01-Oct-2004

14135792 1			243,000.00		241,833.27			20-Apr-2005		7.990%		MA - 75.00%		Paid Off - 360		01-Oct-2004

14138150 1			246,000.00		244,290.35			20-Apr-2005		6.100%		NY - 75.00%		Paid Off - 360		01-Oct-2004

14139166 1			120,250.00		119,357.91			25-Apr-2005		5.750%		NJ - 65.00%		Paid Off - 360		01-Oct-2004

14141311 1			63,000.00		62,617.58			22-Apr-2005		6.800%		AL - 90.00%		Paid Off - 360		01-Oct-2004




Page 23 of 34
Morgan Stanley ABS Capital I Inc. 2005-HE1

Mortgage Pass-Through Certificates

2005-HE1

May 25, 2005 Distribution

Prepayment Detail Report - Mortgage Loans Prepaid in Full During Current Distribution
Loan Number			Original							Current		State &		Type Prepayment		First


&		Loan	Principal		Prepayment			Prepayment		Note		LTV at		&		Payment

Loan Group		Status	Balance		Amount			Date		Rate		Origination		Original Term		Date

14142020 1			279,360.00		278,112.49			28-Apr-2005		8.350%		MD - 80.00%		Paid Off - 360		01-Oct-2004


14142731 1			143,920.00		143,311.00			04-Apr-2005		8.990%		NY - 80.00%		Paid Off - 360		01-Oct-2004

14142871 1			105,000.00		104,500.51			04-Apr-2005		8.840%		VA - 78.95%		Paid Off - 360		01-Oct-2004

14146922 1			50,000.00		49,814.19			20-Apr-2005		9.250%		CA - 16.03%		Paid Off - 360		01-Oct-2004

14147342 1			162,900.00		161,946.96			08-Apr-2005		6.990%		NY - 90.00%		Paid Off - 360		01-Oct-2004

14149454 1			234,650.00		233,066.94			12-Apr-2005		6.250%		NY - 65.00%		Paid Off - 360		01-Oct-2004

14150569 3			158,200.00		157,142.59			19-Apr-2005		6.400%		NY - 70.00%		Paid Off - 360		01-Oct-2004

14153100 1			204,750.00		203,347.88			28-Apr-2005		6.500%		CA - 65.00%		Paid Off - 360		01-Oct-2004

14154538 1			191,000.00		189,735.75			05-Apr-2005		6.350%		MA - 59.50%		Paid Off - 360		01-Oct-2004

14155972 1			243,750.00		242,298.72			05-Apr-2005		6.900%		NJ - 75.00%		Paid Off - 360		01-Oct-2004

14156434 1			149,400.00		148,143.40			19-Apr-2005		7.200%		FL - 90.00%		Paid Off - 360		01-Oct-2004

14156756 1			100,000.00		98,624.35			12-Apr-2005		6.950%		ME - 80.00%		Paid Off - 240		01-Oct-2004

14160758 3			229,600.00		228,256.72			29-Apr-2005		6.990%		CA - 80.00%		Paid Off - 360		01-Oct-2004

14165450 1			215,000.00		213,549.50			20-Apr-2005		6.250%		PA - 71.67%		Paid Off - 360		01-Oct-2004

14168322 3			420,000.00		417,776.76			06-Apr-2005		7.500%		CA - 70.00%		Paid Off - 360		01-Oct-2004

14168389 1			172,250.00		171,310.85			27-Apr-2005		7.350%		MD - 68.35%		Paid Off - 360		01-Oct-2004

14173405 1			112,000.00		111,400.09			27-Apr-2005		7.440%		AZ - 80.00%		Paid Off - 360		01-Oct-2004

14177042 3			373,500.00		371,882.09			18-Apr-2005		8.500%		CA - 90.00%		Paid Off - 360		01-Oct-2004

14177869 1			138,400.00		137,645.36			27-Apr-2005		7.350%		MD - 80.00%		Paid Off - 360		01-Oct-2004

14181002 1			189,900.00		189,017.02			14-Apr-2005		8.150%		MN - 90.00%		Paid Off - 360		01-Oct-2004

14188544 1			110,700.00		110,195.95			14-Apr-2005		8.700%		NJ - 90.00%		Paid Off - 360		01-Oct-2004

14207161 1			70,000.00		69,402.91			06-Apr-2005		6.200%		MI - 63.06%		Paid Off - 360		01-Oct-2004

37850934 2			124,000.00		124,000.00			07-Apr-2005		6.999%		NM - 80.00%		Paid Off - 360		01-Oct-2004

37851406 2			92,650.00		92,205.11			28-Apr-2005		7.990%		VA - 85.00%		Paid Off - 360		01-Oct-2004

37851958 3			285,000.00		283,166.87			13-Apr-2005		6.500%		HI - 82.61%		Paid Off - 360		01-Oct-2004

37852726 2			77,350.00		76,968.05			21-Apr-2005		7.850%		NY - 85.00%		Paid Off - 360		01-Oct-2004

37852830 3			153,000.00		152,024.72			15-Apr-2005		7.250%		CA - 83.84%		Paid Off - 360		01-Sep-2004

37853358 3			357,000.00		355,508.95			15-Apr-2005		7.900%		FL - 85.00%		Paid Off - 360		01-Nov-2004

37853998 3			105,400.00		104,948.86			21-Apr-2005		8.559%		OH - 85.00%		Paid Off - 360		01-Oct-2004

37856278 2			199,750.00		198,679.05			26-Apr-2005		7.500%		CA - 85.00%		Paid Off - 360		01-Oct-2004

37856398 2			124,720.00		124,719.97			01-Apr-2005		6.990%		AZ - 80.00%		Paid Off - 360		01-Oct-2004

37856670 2			316,000.00		316,000.00			08-Apr-2005		6.500%		CA - 80.00%		Paid Off - 360		01-Oct-2004

37857174 2			93,000.00		92,527.54			14-Apr-2005		8.399%		NM - 83.04%		Paid Off - 360		01-Sep-2004

37857230 2			126,000.00		126,000.00			28-Apr-2005		7.490%		CA - 80.00%		Paid Off - 360		01-Oct-2004

37857518 2			206,700.00		205,669.06			01-Apr-2005		7.800%		CA - 81.06%		Paid Off - 360		01-Oct-2004

38028094 2			155,000.00		154,076.56			25-Apr-2005		6.080%		CA - 51.67%		Paid Off - 360		01-Nov-2004

38028182 2			152,000.00		151,274.12			20-Apr-2005		7.225%		NV - 95.00%		Paid Off - 360		01-Nov-2004

38028686 2			308,000.00		306,401.93			27-Apr-2005		6.800%		CA - 80.00%		Paid Off - 360		01-Nov-2004




Page 24 of 34
Morgan Stanley ABS Capital I Inc. 2005-HE1

Mortgage Pass-Through Certificates

2005-HE1

May 25, 2005 Distribution

Prepayment Detail Report - Mortgage Loans Prepaid in Full During Current Distribution
Loan Number			Original							Current		State &		Type Prepayment		First


&		Loan	Principal		Prepayment			Prepayment		Note		LTV at		&		Payment

Loan Group		Status	Balance		Amount			Date		Rate		Origination		Original Term		Date

38028726 3			263,025.00		261,261.37			14-Apr-2005		5.450%		CA - 79.70%		Paid Off - 360		01-Nov-2004


38028822 2			280,000.00		278,306.46			22-Apr-2005		6.000%		CA - 73.68%		Paid Off - 360		01-Nov-2004

38029518 2			148,500.00		147,759.37			21-Apr-2005		7.800%		NJ - 90.00%		Paid Off - 360		01-Oct-2004

38030422 2			262,500.00		261,558.08			05-Apr-2005		8.650%		CA - 75.00%		Paid Off - 360		01-Nov-2004

38031518 2			77,100.00		76,726.35			06-Apr-2005		7.150%		MO - 73.43%		Paid Off - 360		01-Nov-2004

38031542 2			189,000.00		188,056.76			14-Apr-2005		7.000%		CA - 70.00%		Paid Off - 360		01-Nov-2004

38031638 2			300,000.00		298,269.65			08-Apr-2005		6.250%		TX - 62.11%		Paid Off - 360		01-Nov-2004

38033534 2			196,500.00		195,676.39			07-Apr-2005		9.330%		CA - 75.00%		Paid Off - 360		01-Sep-2004

38033566 2			127,500.00		126,701.66			04-Apr-2005		6.640%		OH - 75.00%		Paid Off - 360		01-Oct-2004

38033702 2			79,200.00		78,867.23			11-Apr-2005		8.650%		NY - 79.20%		Paid Off - 360		01-Oct-2004

38033878 2			77,668.00		77,310.47			11-Apr-2005		8.200%		SC - 77.67%		Paid Off - 360		01-Oct-2004

38033966 2			107,200.00		106,760.49			28-Apr-2005		8.800%		FL - 80.00%		Paid Off - 360		01-Oct-2004

38034270 2			103,200.00		102,686.14			01-Apr-2005		8.700%		GA - 80.00%		Paid Off - 360		01-Oct-2004

38034286 2			113,200.00		112,537.65			14-Apr-2005		6.990%		GA - 75.47%		Paid Off - 360		01-Oct-2004

38034727 2			200,000.00		198,688.69			21-Apr-2005		6.400%		CA - 84.75%		Paid Off - 360		01-Oct-2004

38036159 2			68,800.00		68,378.39			19-Apr-2005		8.050%		IA - 80.00%		Paid Off - 360		01-Oct-2004

38036271 2			167,200.00		166,349.34			19-Apr-2005		7.700%		MI - 80.00%		Paid Off - 360		01-Oct-2004

38036791 2			236,300.00		234,906.64			21-Apr-2005		6.950%		VA - 69.50%		Paid Off - 360		01-Oct-2004

38037375 2			264,000.00		262,428.12			15-Apr-2005		6.900%		MA - 80.00%		Paid Off - 360		01-Oct-2004

38037391 2			142,400.00		141,560.31			01-Apr-2005		6.950%		MD - 79.55%		Paid Off - 360		01-Oct-2004

38038647 2			220,000.00		218,801.96			18-Apr-2005		6.550%		CA - 83.02%		Paid Off - 360		01-Nov-2004

38039039 2			298,800.00		297,514.06			27-Apr-2005		7.750%		CA - 90.00%		Paid Off - 360		01-Nov-2004

38039127 2			160,000.00		158,899.81			21-Apr-2005		6.150%		RI - 80.00%		Paid Off - 360		01-Oct-2004

38039423 2			162,900.00		161,747.64			25-Apr-2005		6.000%		OH - 90.00%		Paid Off - 360		01-Oct-2004

38040015 2			78,750.00		78,425.32			05-Apr-2005		8.750%		SC - 75.00%		Paid Off - 360		01-Oct-2004

38040343 2			82,000.00		81,724.24			28-Apr-2005		9.000%		VA - 65.86%		Paid Off - 360		01-Nov-2004

38040463 2			86,800.00		86,513.41			18-Apr-2005		9.850%		MI - 70.00%		Paid Off - 360		01-Oct-2004

38040535 3			360,000.00		357,444.88			14-Apr-2005		6.200%		MD - 80.00%		Paid Off - 360		01-Oct-2004

38041919 2			209,000.00		207,746.44			08-Apr-2005		6.890%		VA - 77.12%		Paid Off - 360		01-Nov-2004

38043496 2			150,000.00		148,692.00			21-Apr-2005		6.250%		NY - 42.86%		Paid Off - 360		01-Aug-2004

38043680 2			86,400.00		85,892.03			28-Apr-2005		6.150%		VA - 60.42%		Paid Off - 360		01-Nov-2004

38043728 2			155,070.00		154,169.08			28-Apr-2005		7.340%		FL - 90.00%		Paid Off - 360		01-Oct-2004

321692022 2			222,000.00		219,742.96			18-Apr-2005		7.100%		CA - 62.54%		Paid Off - 360		01-May-2004

322812108 2			289,600.00		288,097.03			20-Apr-2005		7.600%		CA - 80.00%		Paid Off - 360		01-Oct-2004

322812553 2			65,600.00		65,420.49			11-May-2005		10.700%		NY - 20.00%		Paid Off - 360		01-Oct-2004

322812793 2			304,200.00		304,200.02			12-Apr-2005		6.250%		NY - 65.00%		Paid Off - 360		01-Oct-2004

322813429 2			283,500.00		281,099.68			02-May-2005		5.775%		CA - 70.00%		Paid Off - 360		01-Sep-2004

322813452 2			212,000.00		210,649.43			20-Apr-2005		6.550%		HI - 80.00%		Paid Off - 360		01-Oct-2004




Page 25 of 34
Morgan Stanley ABS Capital I Inc. 2005-HE1

Mortgage Pass-Through Certificates

2005-HE1

May 25, 2005 Distribution

Prepayment Detail Report - Mortgage Loans Prepaid in Full During Current Distribution
Loan Number			Original							Current		State &		Type Prepayment		First


&		Loan	Principal		Prepayment			Prepayment		Note		LTV at		&		Payment

Loan Group		Status	Balance		Amount			Date		Rate		Origination		Original Term		Date

322813478 2			31,500.00		31,212.69			10-May-2005		10.300%		OR - 20.00%		Paid Off - 240		01-Oct-2004


322814351 2			279,000.00		279,000.03			28-Apr-2005		7.350%		CA - 88.57%		Paid Off - 360		01-Oct-2004

322814807 3			440,000.00		438,269.97			02-May-2005		8.200%		IL - 81.48%		Paid Off - 360		01-Nov-2004

322815556 3			246,500.00		245,267.42			21-Apr-2005		6.990%		NV - 85.00%		Paid Off - 360		01-Nov-2004

322816489 2			230,000.00		229,113.73			28-Apr-2005		8.300%		CA - 79.31%		Paid Off - 360		01-Nov-2004

322816943 2			133,250.00		132,667.84			27-Apr-2005		7.675%		MD - 65.00%		Paid Off - 360		01-Nov-2004

322817321 2			54,000.00		53,824.23			20-Apr-2005		9.125%		FL - 60.00%		Paid Off - 360		01-Nov-2004

322817362 3			168,150.00		167,433.48			29-Apr-2005		7.800%		CA - 95.00%		Paid Off - 360		01-Nov-2004

322817388 3			392,000.00		392,000.00			02-May-2005		5.990%		CA - 80.00%		Paid Off - 360		01-Nov-2004

322817602 2			152,000.00		151,352.29			02-May-2005		7.800%		NV - 80.00%		Paid Off - 360		01-Nov-2004

322817636 2			268,000.00		266,297.10			26-Apr-2005		6.000%		CA - 80.00%		Paid Off - 360		01-Nov-2004

322818139 2			280,000.00		278,669.51			22-Apr-2005		7.250%		CA - 80.00%		Paid Off - 360		01-Nov-2004

322818287 2			96,300.00		95,890.16			25-Apr-2005		7.850%		LA - 90.00%		Paid Off - 360		01-Nov-2004

322818915 3			100,000.00		99,784.25			29-Apr-2005		11.800%		CA - 20.00%		Paid Off - 360		01-Oct-2004

322819020 3			42,400.00		41,966.11			03-May-2005		10.700%		MA - 20.00%		Paid Off - 240		01-Sep-2004

322819160 3			352,000.00		351,999.80			20-Apr-2005		6.950%		CA - 80.00%		Paid Off - 360		01-Sep-2004

322819525 3			442,000.00		439,129.68			25-Apr-2005		6.450%		CA - 55.81%		Paid Off - 360		01-Oct-2004

322819715 3			365,500.00		364,000.14			21-Jan-2005		7.990%		NY - 85.00%		Paid Off - 360		01-Nov-2004

322820721 2			153,000.00		152,150.67			26-Apr-2005		6.450%		MD - 75.00%		Paid Off - 360		01-Nov-2004

322821398 2			198,000.00		195,754.46			05-May-2005		6.200%		FL - 81.82%		Paid Off - 360		01-Nov-2004

322821539 2			171,200.00		170,240.47			03-May-2005		6.400%		FL - 80.00%		Paid Off - 360		01-Nov-2004

322821596 3			111,547.00		111,214.55			11-May-2005		10.300%		CA - 20.00%		Paid Off - 360		01-Oct-2004

322821935 2			183,200.00		183,180.92			02-May-2005		6.125%		HI - 82.52%		Paid Off - 300		01-Oct-2004

322822578 2			200,000.00		200,000.00			03-May-2005		6.688%		CA - 63.49%		Paid Off - 360		01-Oct-2004

322823030 2			233,480.00		233,480.00			28-Apr-2005		8.200%		AZ - 80.00%		Paid Off - 360		01-Nov-2004

322823501 2			283,500.00		283,500.00			21-Apr-2005		8.400%		CA - 90.00%		Paid Off - 360		01-Sep-2004

322823535 3			372,000.00		370,542.22			28-Apr-2005		8.990%		CA - 80.00%		Paid Off - 360		01-Oct-2004

322823816 2			350,000.00		348,493.67			18-Apr-2005		7.750%		NY - 80.46%		Paid Off - 360		01-Nov-2004

322823949 2			340,000.00		337,915.97			02-May-2005		6.750%		NY - 84.79%		Paid Off - 360		01-Oct-2004

322823980 2			297,000.00		295,265.53			10-May-2005		7.000%		CA - 90.00%		Paid Off - 360		01-Oct-2004

322824178 3			350,000.00		348,038.34			11-May-2005		6.400%		CA - 79.73%		Paid Off - 360		01-Nov-2004

322824368 2			280,500.00		279,401.60			03-May-2005		8.250%		CA - 85.00%		Paid Off - 360		01-Nov-2004

322824384 3			459,000.00		456,423.57			10-May-2005		6.450%		CA - 90.00%		Paid Off - 360		01-Nov-2004

322824681 3			461,600.00		459,251.57			09-May-2005		7.700%		CA - 80.00%		Paid Off - 360		01-Oct-2004

322825134 2			265,000.00		263,917.84			03-May-2005		8.012%		NY - 55.79%		Paid Off - 360		01-Nov-2004

322825191 2			297,000.00		295,203.65			10-May-2005		6.000%		CA - 77.95%		Paid Off - 360		01-Nov-2004

322825464 3			400,000.00		400,000.00			28-Apr-2005		7.800%		NV - 85.11%		Paid Off - 360		01-Nov-2004

322825498 2			148,500.00		147,886.39			20-Apr-2005		5.625%		HI - 90.00%		Paid Off - 300		01-Nov-2004




Page 26 of 34
Morgan Stanley ABS Capital I Inc. 2005-HE1

Mortgage Pass-Through Certificates

2005-HE1

May 25, 2005 Distribution

Prepayment Detail Report - Mortgage Loans Prepaid in Full During Current Distribution
Loan Number			Original							Current		State &		Type Prepayment		First


&		Loan	Principal		Prepayment			Prepayment		Note		LTV at		&		Payment

Loan Group		Status	Balance		Amount			Date		Rate		Origination		Original Term		Date

322826074 3			139,500.00		138,769.11			26-Apr-2005		6.750%		FL - 90.00%		Paid Off - 360		01-Nov-2004


322826439 2			301,500.00		300,122.74			21-Apr-2005		7.450%		CA - 90.00%		Paid Off - 360		01-Nov-2004

322826678 2			57,000.00		56,809.62			20-Apr-2005		9.000%		FL - 80.28%		Paid Off - 360		01-Nov-2004

322826744 2			101,150.00		100,766.09			26-Apr-2005		8.375%		MI - 85.00%		Paid Off - 360		01-Nov-2004

322827890 2			220,000.00		219,121.80			02-May-2005		8.900%		IL - 100.00%		Paid Off - 360		01-Oct-2004

322829201 2			188,000.00		187,391.33			22-Apr-2005		9.150%		CA - 72.31%		Paid Off - 360		01-Nov-2004

322829268 3			350,400.00		348,599.49			06-May-2005		6.850%		CA - 80.00%		Paid Off - 360		01-Nov-2004

322829995 2			127,750.00		127,121.74			29-Apr-2005		7.075%		FL - 73.00%		Paid Off - 360		01-Nov-2004

322830266 2			140,000.00		139,368.44			04-May-2005		8.300%		CA - 74.47%		Paid Off - 360		01-Oct-2004

322830597 2			129,600.00		129,067.63			10-May-2005		8.475%		MD - 80.00%		Paid Off - 360		01-Nov-2004

322831108 2			229,237.00		228,220.50			18-Apr-2005		7.600%		CA - 80.00%		Paid Off - 360		01-Nov-2004

322831264 2			230,000.00		228,948.82			02-May-2005		7.725%		NV - 65.71%		Paid Off - 360		01-Nov-2004

322831736 2			142,000.00		141,091.25			20-Apr-2005		5.700%		CA - 35.50%		Paid Off - 360		01-Nov-2004

322833088 2			134,800.00		134,072.79			09-May-2005		6.600%		FL - 80.00%		Paid Off - 360		01-Nov-2004

322833419 2			188,000.00		187,174.60			27-Apr-2005		7.650%		IL - 80.00%		Paid Off - 360		01-Nov-2004

322834094 2			116,800.00		116,221.50			20-Apr-2005		8.050%		IA - 80.00%		Paid Off - 360		01-Nov-2004

322834524 3			141,000.00		140,597.19			28-Apr-2005		9.750%		VA - 82.70%		Paid Off - 360		01-Nov-2004

322834722 2			276,000.00		274,553.96			12-May-2005		6.750%		VA - 80.00%		Paid Off - 360		01-Nov-2004

322835026 3			202,000.00		200,889.38			05-May-2005		6.500%		MA - 69.66%		Paid Off - 360		01-Nov-2004

322835083 3			65,100.00		64,891.37			05-May-2005		9.200%		MI - 70.00%		Paid Off - 360		01-Nov-2004

322835182 2			101,000.00		100,602.82			05-May-2005		8.200%		PA - 84.17%		Paid Off - 360		01-Nov-2004

322835265 3			80,000.00		79,591.45			02-May-2005		7.700%		MI - 80.00%		Paid Off - 360		01-Nov-2004

322836321 2			229,000.00		227,900.48			29-Apr-2005		7.990%		CA - 65.06%		Paid Off - 360		01-Oct-2004

322836636 2			50,050.00		49,121.80			06-May-2005		7.990%		PA - 83.42%		Paid Off - 180		01-Nov-2004

322836727 3			425,500.00		423,125.09			18-Apr-2005		6.425%		CA - 74.65%		Paid Off - 360		01-Nov-2004

322836990 2			94,500.00		94,500.00			02-May-2005		6.250%		AZ - 90.00%		Paid Off - 360		01-Nov-2004

322838095 2			108,141.00		108,141.00			20-Apr-2005		7.400%		AZ - 80.00%		Paid Off - 360		01-Nov-2004

322838160 3			215,000.00		213,873.57			10-May-2005		6.750%		CA - 76.79%		Paid Off - 360		01-Nov-2004

322838236 2			62,000.00		61,713.93			04-May-2005		7.400%		PA - 41.61%		Paid Off - 360		01-Nov-2004

322838913 2			157,250.00		157,250.00			21-Apr-2005		6.850%		VA - 80.64%		Paid Off - 360		01-Nov-2004

322839424 2			166,500.00		165,802.79			28-Apr-2005		7.900%		OH - 90.00%		Paid Off - 360		01-Nov-2004

322840000 2			96,000.00		94,140.32			12-May-2005		6.900%		WI - 84.21%		Paid Off - 180		01-Nov-2004

322840414 2			153,000.00		152,281.12			20-Apr-2005		7.350%		MD - 83.15%		Paid Off - 360		01-Nov-2004

322841578 3			127,500.00		126,825.08			05-May-2005		7.030%		CA - 68.18%		Paid Off - 360		01-Nov-2004

322841826 3			58,370.00		58,197.88			28-Apr-2005		9.600%		AZ - 20.00%		Paid Off - 360		01-Nov-2004

322841875 3			500,000.00		497,430.79			20-Apr-2005		6.850%		NJ - 72.67%		Paid Off - 360		01-Nov-2004

322842311 3			444,450.00		441,738.89			02-May-2005		6.775%		MN - 84.98%		Paid Off - 360		01-Oct-2004

322843673 3			184,000.00		183,081.73			18-Apr-2005		7.000%		NV - 80.00%		Paid Off - 360		01-Nov-2004




Page 27 of 34
Morgan Stanley ABS Capital I Inc. 2005-HE1

Mortgage Pass-Through Certificates

2005-HE1

May 25, 2005 Distribution

Prepayment Detail Report - Mortgage Loans Prepaid in Full During Current Distribution
Loan Number			Original							Current		State &		Type Prepayment		First


&		Loan	Principal		Prepayment			Prepayment		Note		LTV at		&		Payment

Loan Group		Status	Balance		Amount			Date		Rate		Origination		Original Term		Date

322843806 3			119,700.00		119,238.77			20-Apr-2005		8.300%		FL - 95.00%		Paid Off - 360		01-Nov-2004


322843954 2			220,000.00		218,902.07			02-May-2005		7.000%		CT - 75.86%		Paid Off - 360		01-Nov-2004

322844135 2			78,200.00		77,841.23			05-May-2005		7.550%		NC - 85.00%		Paid Off - 360		01-Nov-2004

322844333 3			74,900.00		74,513.26			02-May-2005		6.850%		WI - 78.84%		Paid Off - 360		01-Nov-2004

322845512 2			203,250.00		202,531.73			29-Apr-2005		8.725%		CA - 63.52%		Paid Off - 360		01-Nov-2004

322846080 3			160,000.00		159,201.85			09-May-2005		8.300%		CT - 76.19%		Paid Off - 360		01-Nov-2004

322846478 2			136,000.00		135,353.75			28-Apr-2005		7.250%		NJ - 61.82%		Paid Off - 360		01-Nov-2004

322846544 2			165,750.00		165,146.04			26-Apr-2005		8.575%		VA - 75.00%		Paid Off - 360		01-Nov-2004

322846684 2			245,000.00		244,105.22			04-May-2005		8.575%		DC - 37.98%		Paid Off - 360		01-Nov-2004

322847039 2			147,000.00		146,237.09			15-Apr-2005		7.150%		NJ - 63.91%		Paid Off - 360		01-Nov-2004

322847146 3			128,000.00		127,282.60			19-Apr-2005		6.400%		CA - 62.44%		Paid Off - 360		01-Nov-2004

322847161 2			279,000.00		277,516.88			#######		6.675%		CA - 64.88%		Paid Off - 360		01-Nov-2004

322848045 3			63,750.00		63,483.26			10-May-2005		8.375%		OH - 75.00%		Paid Off - 360		01-Nov-2004

322848292 2			113,050.00		112,627.42			06-May-2005		8.450%		MI - 95.00%		Paid Off - 360		01-Nov-2004

322848714 2			190,000.00		188,961.01			09-May-2005		6.850%		WA - 95.00%		Paid Off - 360		01-Nov-2004

322849522 3			377,083.00		374,601.22			03-May-2005		5.550%		CA - 87.90%		Paid Off - 360		01-Nov-2004

322850488 2			264,000.00		262,945.14			18-Apr-2005		8.300%		CA - 80.00%		Paid Off - 360		01-Nov-2004

322850611 2			105,300.00		104,872.26			02-May-2005		7.138%		IA - 90.00%		Paid Off - 360		01-Dec-2004

322850777 2			187,200.00		186,414.22			11-May-2005		7.875%		AZ - 90.00%		Paid Off - 360		01-Oct-2004

322851445 2			50,000.00		49,793.24			09-May-2005		9.990%		AZ - 20.00%		Paid Off - 360		01-Nov-2004

322851882 2			151,000.00		150,282.44			02-May-2005		7.250%		AZ - 61.13%		Paid Off - 360		01-Nov-2004



TOTAL			47,642,659.00		46,905,756.17



Page 28 of 34
Morgan Stanley ABS Capital I Inc. 2005-HE1

Mortgage Pass-Through Certificates

2005-HE1

May 25, 2005 Distribution
Realized Loss Report

COLLATERAL REALIZED LOSSES



									Group 3		Group 2		Group 1		Total


Current




Number of Loans Liquidated								0		0		0		0
Collateral Principal Realized Loss/(Gain) Amount								0.00		0.00		0.00		0.00
Collateral Interest Realized Loss/(Gain) Amount								0.00		0.00		0.00		0.00
Net Liquidation Proceeds								0.00		0.00		0.00		0.00

Cumulative




Number of Loans Liquidated								0		0		0		0
Collateral Realized Loss/(Gain) Amount								0.00		0.00		0.00		0.00
Net Liquidation Proceeds								0.00		0.00		0.00		0.00










Page 29 of 34
Morgan Stanley ABS Capital I Inc. 2005-HE1

Mortgage Pass-Through Certificates

2005-HE1

May 25, 2005 Distribution


DEFAULT SPEEDS



									Group 3		Group 2		Group 1		Total



MDR								0.00%		0.00%		0.00%		0.00%
3 Months Avg MDR								0.00%		0.00%		0.00%		0.00%
12 Months Avg MDR								0.00%		0.00%		0.00%		0.00%
Avg MDR Since Cut-off								0.00%		0.00%		0.00%		0.00%


CDR								0.00%		0.00%		0.00%		0.00%
3 Months Avg CDR								0.00%		0.00%		0.00%		0.00%
12 Months Avg CDR								0.00%		0.00%		0.00%		0.00%
Avg CDR Since Cut-off								0.00%		0.00%		0.00%		0.00%


SDA								0.00%		0.00%		0.00%		0.00%
3 Months Avg SDA Approximation								0.00%		0.00%		0.00%		0.00%
12 Months Avg SDA Approximation								0.00%		0.00%		0.00%		0.00%
Avg SDA Since Cut-off Approximation								0.00%		0.00%		0.00%		0.00%


Loss Severity Approximation for Current Period								0.00%		0.00%		0.00%		0.00%
3 Months Avg Loss Severity Approximation								0.00%		0.00%		0.00%		0.00%
12 Months Avg Loss Severity Approximation								0.00%		0.00%		0.00%		0.00%
Avg Loss Severity Approximation Since Cut-off								0.00%		0.00%		0.00%		0.00%












Page 30 of 34
Morgan Stanley ABS Capital I Inc. 2005-HE1

Mortgage Pass-Through Certificates

2005-HE1

May 25, 2005 Distribution





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 31 of 34
Morgan Stanley ABS Capital I Inc. 2005-HE1

Mortgage Pass-Through Certificates

2005-HE1

May 25, 2005 Distribution
Realized Loss Detail Report
Loan Number			Current		State &				Prior		Realized				Cumulative

&		Loan	Note		LTV at		Original		Principal		Loss/(Gain)		Realized		Realized

Loan Group		Status	Rate		Origination		Term		Balance		Revision		Loss/(Gain)		Loss/(Gain)





TOTAL



Page 32 of 34
Morgan Stanley ABS Capital I Inc. 2005-HE1

Mortgage Pass-Through Certificates

2005-HE1

May 25, 2005 Distribution
Triggers and Adj. Cert. Report
TRIGGER EVENTS

								Group 3		Group 2		Group 1		Total
						Trigger Event in effect (0=No , 1=Yes)								0
						Stepdown Date has occurred (0 = No, 1=Yes)								0
						3 months rolling 60+ days includes 60+ bkcs and all flcs								28,385,413.48
						Ending Balance								1,559,728,407.20
						Prior period Senior Enhancement Percentage								19.4450%



ADJUSTABLE RATE CERTIFICATE INFORMATION

SPACE INTENTIONALLY LEFT BLANK



ADDITIONAL INFORMATION

								Group 3		Group 2		Group 1		Total
Basis Risk CarryForward Amount paid														0.00
Basis Risk CarryForward Amount unpaid														0.000
Excess Reserve Fund Account Balance														0.00




Page 33 of 34
Morgan Stanley ABS Capital I Inc. 2005-HE1

Mortgage Pass-Through Certificates

2005-HE1

May 25, 2005 Distribution
Other Related Information
ADDITIONAL INFORMATION

								Group 3		Group 2		Group 1		Total
Current Scheduled Payments								3,029,527.91		4,938,129.84		2,991,901.79		10,959,559.55
Current Scheduled Payments 1 Month Prior								3,126,331.24		5,056,642.44		3,074,054.44		11,257,028.13
Current Scheduled Payments 2 Month Prior								3,202,018.37		5,149,477.11		3,131,712.53		11,483,208.01
Current Scheduled Payments 3 Month Prior								3,269,417.03		5,225,615.85		3,174,719.69		11,669,752.57
Current Scheduled Payments 4 Month Prior								0.00		0.00		0.00		0.00
Current Scheduled Payments 5 Month Prior								0.00		0.00		0.00		0.00
Current Scheduled Payments 6 Month Prior								0.00		0.00		0.00		0.00
Current Scheduled Payments 7 Month Prior								0.00		0.00		0.00		0.00
Current Scheduled Payments 8 Month Prior								0.00		0.00		0.00		0.00
Current Scheduled Payments 9 Month Prior								0.00		0.00		0.00		0.00
Current Scheduled Payments 10 Month Prior								0.00		0.00		0.00		0.00
Current Scheduled Payments 11 Month Prior								0.00		0.00		0.00		0.00





Sched. Payments for 60+Day Delinquent Loans								24,322.46		74,474.45		34,987.63		133,784.54
Sched. Pmts - 60+Day Delinquent Loans, 1 Month Prior								30,579.83		36,751.72		13,002.65		80,334.21
Sched. Pmts - 60+Day Delinquent Loans, 2 Month Prior								18,484.15		17,839.00		0.00		36,323.15
Sched. Pmts - 60+Day Delinquent Loans, 3 Month Prior								1,704.65		2,001.75		0.00		3,706.40
Sched. Pmts - 60+Day Delinquent Loans, 4 Month Prior								0.00		0.00		0.00		0.00
Sched. Pmts - 60+Day Delinquent Loans, 5 Month Prior								0.00		0.00		0.00		0.00
Sched. Pmts - 60+Day Delinquent Loans, 6 Month Prior								0.00		0.00		0.00		0.00
Sched. Pmts - 60+Day Delinquent Loans, 7 Month Prior								0.00		0.00		0.00		0.00
Sched. Pmts - 60+Day Delinquent Loans, 8 Month Prior								0.00		0.00		0.00		0.00
Sched. Pmts - 60+Day Delinquent Loans, 9 Month Prior								0.00		0.00		0.00		0.00
Sched. Pmts - 60+Day Delinquent Loans, 10 Month Prior								0.00		0.00		0.00		0.00
Sched. Pmts - 60+Day Delinquent Loans, 11 Month Prior								0.00		0.00		0.00		0.00




Page 34 of 34

Morgan Stanley ABS Capital I Inc. Trust 2005-HE1 8-K