

                                    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): June 27, 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
     June 27, 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 30, 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
              June 27, 2005.



Morgan Stanley ABS Capital I Inc. 2005-HE1

Mortgage Pass-Through Certificates

2005-HE1

June 27, 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					31
										11. Realized Loss Detail Report					34
				Servicer(s)
										12. Triggers and Adj. Cert. Report					35
				Chase Securities, Inc
										13. Other Related Information					36
				HomeQ Servicing Corp.



				Underwriter(s)
				Morgan Stanley & Co. Inc


										Total Number of Pages					36


				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:			June 27, 2005
										Factor Information:			(800) 735-7777
				Record Date:			May 31, 2005
										Main Phone Number:			(714) 247-6000

							June 24, 2005


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






Page 1 of 36
Morgan Stanley ABS Capital I Inc. 2005-HE1

Mortgage Pass-Through Certificates

2005-HE1

June 27, 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		300,479,821.51		941,315.64		12,786,769.04		13,728,084.68		0.00		0.00		287,693,052.47

A-1MZ	FLT, SR	$	37,200,000.00		33,387,145.47		104,056.60		1,420,773.34		1,524,829.94		0.00		0.00		31,966,372.13
A-2SS	FLT, SR	$	503,344,000.00		452,663,097.06		1,394,202.34		20,245,755.41		21,639,957.75		0.00		0.00		432,417,341.65
A-2MZ	FLT, SR	$	125,837,000.00		113,166,673.59		351,665.44		5,061,479.07		5,413,144.51		0.00		0.00		108,105,194.52
A-3A	FLT, SR	$	155,611,000.00		108,594,879.67		320,535.89		18,011,863.75		18,332,399.64		0.00		0.00		90,583,015.92
A-3B	FLT, SR	$	164,000,000.00		164,000,000.00		497,603.33		0.00		497,603.33		0.00		0.00		164,000,000.00
A-3C	FLT, SR	$	40,000,000.00		40,000,000.00		126,500.00		0.00		126,500.00		0.00		0.00		40,000,000.00
A-3MZ	FLT, SR	$	39,957,000.00		34,732,957.58		108,887.82		2,001,329.32		2,110,217.14		0.00		0.00		32,731,628.26
M-1	MEZ, FLT	$	53,117,000.00		53,117,000.00		172,364.67		0.00		172,364.67		0.00		0.00		53,117,000.00
M-2	MEZ, FLT	$	49,690,000.00		49,690,000.00		162,155.03		0.00		162,155.03		0.00		0.00		49,690,000.00
M-3	MEZ, FLT	$	34,268,000.00		34,268,000.00		113,398.52		0.00		113,398.52		0.00		0.00		34,268,000.00
M-4	MEZ, FLT	$	29,129,000.00		29,129,000.00		101,733.03		0.00		101,733.03		0.00		0.00		29,129,000.00
M-5	MEZ, FLT	$	25,702,000.00		25,702,000.00		90,942.24		0.00		90,942.24		0.00		0.00		25,702,000.00
M-6	MEZ, FLT	$	21,418,000.00		21,418,000.00		77,747.34		0.00		77,747.34		0.00		0.00		21,418,000.00
B-1	MEZ, FLT	$	20,561,000.00		20,561,000.00		83,683.27		0.00		83,683.27		0.00		0.00		20,561,000.00
B-2	MEZ, FLT	$	14,565,000.00		14,565,000.00		60,881.70		0.00		60,881.70		0.00		0.00		14,565,000.00
B-3	MEZ, FLT	$	17,134,000.00		17,134,000.00		85,441.55		0.00		85,441.55		0.00		0.00		17,134,000.00
X	EXE	$	47,120,448.00		47,119,832.32		3,991,037.01		0.00		3,991,037.01		0.00		0.00		47,119,832.32
P	SUB	$	0.00		0.00		1,021,674.27		0.00		1,021,674.27		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		1,559,728,407.20		9,805,825.69		59,527,969.93		69,333,795.62		0.00		0.00		1,500,200,437.27






Page 2 of 36
Morgan Stanley ABS Capital I Inc. 2005-HE1

Mortgage Pass-Through Certificates

2005-HE1

June 27, 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	05/25/05		06/26/05		A-Act/360		61744CKX3		334,795,000.00		897.503910		2.811618		38.192832		41.004450	859.311078
A-1MZ	05/25/05		06/26/05		A-Act/360		61744CKG0		37,200,000.00		897.503910		2.797220		38.192832		40.990052	859.311079
A-2SS	05/25/05		06/26/05		A-Act/360		61744CKY1		503,344,000.00		899.311598		2.769880		40.222503		42.992382	859.089095
A-2MZ	05/25/05		06/26/05		A-Act/360		61744CKH8		125,837,000.00		899.311598		2.794611		40.222503		43.017113	859.089096
A-3A	05/25/05		06/26/05		A-Act/360		61744CKJ4		155,611,000.00		697.861203		2.059854		115.749296		117.809150	582.111907
A-3B	05/25/05		06/26/05		A-Act/360		61744CKK1		164,000,000.00		1,000.000000		3.034167		0.000000		3.034167	1,000.000000
A-3C	05/25/05		06/26/05		A-Act/360		61744CKL9		40,000,000.00		1,000.000000		3.162500		0.000000		3.162500	1,000.000000
A-3MZ	05/25/05		06/26/05		A-Act/360		61744CKM7		39,957,000.00		869.258392		2.725125		50.087077		52.812202	819.171316
M-1	05/25/05		06/26/05		A-Act/360		61744CKN5		53,117,000.00		1,000.000000		3.245000		0.000000		3.245000	1,000.000000
M-2	05/25/05		06/26/05		A-Act/360		61744CKP0		49,690,000.00		1,000.000000		3.263333		0.000000		3.263333	1,000.000000
M-3	05/25/05		06/26/05		A-Act/360		61744CKQ8		34,268,000.00		1,000.000000		3.309167		0.000000		3.309167	1,000.000000
M-4	05/25/05		06/26/05		A-Act/360		61744CKR6		29,129,000.00		1,000.000000		3.492500		0.000000		3.492500	1,000.000000
M-5	05/25/05		06/26/05		A-Act/360		61744CKS4		25,702,000.00		1,000.000000		3.538333		0.000000		3.538333	1,000.000000
M-6	05/25/05		06/26/05		A-Act/360		61744CKT2		21,418,000.00		1,000.000000		3.630000		0.000000		3.630000	1,000.000000
B-1	05/25/05		06/26/05		A-Act/360		61744CKU9		20,561,000.00		1,000.000000		4.070000		0.000000		4.070000	1,000.000000
B-2	05/25/05		06/26/05		A-Act/360		61744CKV7		14,565,000.00		1,000.000000		4.180000		0.000000		4.180000	1,000.000000
B-3	05/25/05		06/26/05		A-Act/360		61744CKW5		17,134,000.00		1,000.000000		4.986667		0.000000		4.986667	1,000.000000
X	05/25/05		06/24/05		A-30/360				47,120,448.00		999.986934		84.698622		0.000000		84.698622	999.986934
P	05/25/05		06/24/05		A-30/360				0.00		0.000000		0.000000		0.000000		0.000000	0.000000
R	05/25/05		06/24/05		A-30/360				0.00		0.000000		0.000000		0.000000		0.000000	0.000000




Page 3 of 36
Morgan Stanley ABS Capital I Inc. 2005-HE1

Mortgage Pass-Through Certificates

2005-HE1

June 27, 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		4,254,603.09		45,739,298.45		1,362,673.74		47,101,972.19		51,356,575.28		0.00		0.00		287,693,052.47
A-1MZ	37,200,000.00		470,121.07		5,082,220.15		151,410.45		5,233,630.61		5,703,751.68		0.00		0.00		31,966,372.13
A-2SS	503,344,000.00		6,280,360.19		68,870,080.55		2,056,584.20		70,926,664.75		77,207,024.94		0.00		0.00		432,417,341.65
A-2MZ	125,837,000.00		1,585,293.57		17,217,656.94		514,150.13		17,731,807.08		19,317,100.65		0.00		0.00		108,105,194.52
A-3A	155,611,000.00		1,653,418.72		63,112,222.68		1,915,729.54		65,027,952.22		66,681,370.94		0.00		0.00		90,583,015.92
A-3B	164,000,000.00		2,117,838.59		0.00		0.00		0.00		2,117,838.59		0.00		0.00		164,000,000.00
A-3C	40,000,000.00		540,190.45		0.00		0.00		0.00		540,190.45		0.00		0.00		40,000,000.00
A-3MZ	39,957,000.00		499,439.29		7,012,508.18		212,860.02		7,225,368.20		7,724,807.49		0.00		0.00		32,731,628.26
M-1	53,117,000.00		737,516.87		0.00		0.00		0.00		737,516.87		0.00		0.00		53,117,000.00
M-2	49,690,000.00		694,129.82		0.00		0.00		0.00		694,129.82		0.00		0.00		49,690,000.00
M-3	34,268,000.00		485,931.09		0.00		0.00		0.00		485,931.09		0.00		0.00		34,268,000.00
M-4	29,129,000.00		437,656.26		0.00		0.00		0.00		437,656.26		0.00		0.00		29,129,000.00
M-5	25,702,000.00		391,592.39		0.00		0.00		0.00		391,592.39		0.00		0.00		25,702,000.00
M-6	21,418,000.00		335,365.06		0.00		0.00		0.00		335,365.06		0.00		0.00		21,418,000.00
B-1	20,561,000.00		363,616.38		0.00		0.00		0.00		363,616.38		0.00		0.00		20,561,000.00
B-2	14,565,000.00		264,958.15		0.00		0.00		0.00		264,958.15		0.00		0.00		14,565,000.00
B-3	17,134,000.00		375,354.25		0.00		0.00		0.00		375,354.25		0.00		0.00		17,134,000.00
X	47,120,448.00		24,852,426.09		578.90		27.54		615.68		24,853,041.77		9.24		9.24		47,119,832.32
P	0.00		3,586,888.54		0.00		0.00		0.00		3,586,888.54		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		49,926,699.87		207,034,565.85		6,213,435.62		213,248,010.73		263,174,710.60		9.24		9.24		1,500,200,437.27



Page 4 of 36
Morgan Stanley ABS Capital I Inc. 2005-HE1

Mortgage Pass-Through Certificates

2005-HE1

June 27, 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	3.41750%		300,479,821.51		941,315.64		0.00		0.00		0.00		941,315.64		941,315.64		0.00
A-1MZ	3.40000%		33,387,145.47		104,056.60		0.00		0.00		0.00		104,056.60		104,056.60		0.00
A-2SS	3.36000%		452,663,097.06		1,394,202.34		0.00		0.00		0.00		1,394,202.34		1,394,202.34		0.00
A-2MZ	3.39000%		113,166,673.59		351,665.44		0.00		0.00		0.00		351,665.44		351,665.44		0.00
A-3A	3.22000%		108,594,879.67		320,535.89		0.00		0.00		0.00		320,535.89		320,535.89		0.00
A-3B	3.31000%		164,000,000.00		497,603.33		0.00		0.00		0.00		497,603.33		497,603.33		0.00
A-3C	3.45000%		40,000,000.00		126,500.00		0.00		0.00		0.00		126,500.00		126,500.00		0.00
A-3MZ	3.42000%		34,732,957.58		108,887.82		0.00		0.00		0.00		108,887.82		108,887.82		0.00
M-1	3.54000%		53,117,000.00		172,364.67		0.00		0.00		0.00		172,364.67		172,364.67		0.00
M-2	3.56000%		49,690,000.00		162,155.03		0.00		0.00		0.00		162,155.03		162,155.03		0.00
M-3	3.61000%		34,268,000.00		113,398.52		0.00		0.00		0.00		113,398.52		113,398.52		0.00
M-4	3.81000%		29,129,000.00		101,733.03		0.00		0.00		0.00		101,733.03		101,733.03		0.00
M-5	3.86000%		25,702,000.00		90,942.24		0.00		0.00		0.00		90,942.24		90,942.24		0.00
M-6	3.96000%		21,418,000.00		77,747.34		0.00		0.00		0.00		77,747.34		77,747.34		0.00
B-1	4.44000%		20,561,000.00		83,683.27		0.00		0.00		0.00		83,683.27		83,683.27		0.00
B-2	4.56000%		14,565,000.00		60,881.70		0.00		0.00		0.00		60,881.70		60,881.70		0.00
B-3	5.44000%		17,134,000.00		85,441.55		0.00		0.00		0.00		85,441.55		85,441.55		0.00
X	101.63967%		47,119,832.32		0.00		0.00		0.00		0.00		0.00		3,991,037.01		0.00
P	0.00000%		0.00		0.00		0.00		0.00		0.00		0.00		1,021,674.27		0.00
R	0.00000%		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00


Total			1,559,728,407.20		4,793,114.41		0.00		0.00		0.00		4,793,114.41		9,805,825.69		0.00



Page 5 of 36
Morgan Stanley ABS Capital I Inc. 2005-HE1

Mortgage Pass-Through Certificates

2005-HE1

June 27, 2005 Distribution
Collection Account Report
SUMMARY

								Group 3		Group 2		Group 1		Total
Principal Collections								20,013,193.07		25,307,234.48		14,207,542.38		59,527,969.93
Principal Withrawals								0.00		0.00		0.00		0.00
Principal Other Accounts								0.00		0.00		0.00		0.00
TOTAL NET PRINCIPAL								20,013,193.07		#######		14,207,542.38		59,527,969.93
Interest Collections								2,457,931.76		4,059,279.10		2,412,443.95		8,929,654.81
Interest Withdrawals								-0.00		-0.00		-0.00		-0.00
Interest Other Accounts								0.00		0.00		0.00		1,021,674.27
Interest Fees								-38,364.02		-79,519.18		-27,620.19		-145,503.39
TOTAL NET INTEREST								2,419,567.75		3,979,759.93		2,384,823.75		9,805,825.69
TOTAL AVAILABLE FUNDS FOR DISTRIBUTION								22,432,760.82		29,286,994.41		16,592,366.13		69,333,795.62



PRINCIPAL - COLLECTIONS

									Group 3		Group 2		Group 1		Total
Scheduled Principal Received									318,321.11		521,583.35		347,662.07		1,187,566.53
Prepayments In Full									19,328,550.40		24,417,555.76		13,838,657.18		57,584,763.34
Curtailments									18,321.56		36,095.41		21,223.13		75,640.10
Liquidations									0.00		0.00		0.00		0.00
Insurance Principal									0.00		0.00		0.00		0.00
Repurchased Principal Amounts									348,000.00		331,999.96		0.00		679,999.96
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									-263,918.96		-386,041.92		-302,384.85		-952,345.73
Advanced Principal									263,918.96		386,041.92		302,384.85		952,345.73
TOTAL PRINCIPAL COLLECTED									20,013,193.07		25,307,234.48		14,207,542.38		59,527,969.93


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 36
Morgan Stanley ABS Capital I Inc. 2005-HE1

Mortgage Pass-Through Certificates

2005-HE1

June 27, 2005 Distribution

INTEREST - COLLECTIONS

								Group 3		Group 2		Group 1		Total
Scheduled Interest								2,600,699.45		4,273,796.24		2,559,475.04		9,433,970.73
Liquidation Interest								0.00		0.00		0.00		0.00
Repurchased Interest								1,737.10		1,839.83		0.00		3,576.93
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								-37,513.19		-42,368.78		-46,024.92		-125,906.89
Compensating Interest								37,513.19		42,368.78		46,024.92		125,906.90
Delinquent Interest								-2,074,267.76		-3,161,502.24		-2,169,586.60		-7,405,356.60
Interest Advanced								1,929,762.97		2,945,145.27		2,022,555.51		6,897,463.75
TOTAL INTEREST COLLECTED								2,457,931.76		4,059,279.10		2,412,443.95		8,929,654.81


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														1,021,674.27
TOTAL INTEREST OTHER ACCOUNTS								0.00		0.00		0.00		1,021,674.27



INTEREST - FEES

								Group 3		Group 2		Group 1		Total
Current Servicing Fees								37,381.83		37,393.09		17,860.24		141,994.00
Current Trustee Fees								654.79		684.53		323.50		2,339.59
Current Custodian Fees								327.40		342.27		161.75		1,169.80
TOTAL INTEREST OTHER FEES								38,364.02		79,519.18		27,620.19		145,503.39




Page 7 of 36
Morgan Stanley ABS Capital I Inc. 2005-HE1

Mortgage Pass-Through Certificates

2005-HE1

June 27, 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 36
Morgan Stanley ABS Capital I Inc. 2005-HE1

Mortgage Pass-Through Certificates

2005-HE1

June 27, 2005 Distribution
Collateral Report


COLLATERAL



									Group 3		Group 2		Group 1		Total



Loan Count:


Original								2,090		5,208		3,052		10,350
Prior								1,902		4,863		2,834		9,599
Prefunding								0		0		0		0
Scheduled Paid Offs								-0		-0		-0		-0
Full Voluntary Prepayments								-75		-142		-89		-306
Repurchases								-1		-1		-0		-2
Liquidations								-0		-0		-0		-0
Current								1,826		4,720		2,745		9,291
Principal Balance:


Original								488,767,620.24		769,640,075.49		455,039,626.95		1,713,447,322.68
Prior								436,527,876.49		706,288,778.75		416,911,751.96		1,559,728,407.20
Prefunding								0.00		0.00		0.00		0.00
Scheduled Principal								-318,321.11		-521,583.35		-347,662.07		-1,187,566.53
Partial Prepayments								-18,321.56		-36,095.41		-21,223.13		-75,640.10
Full Voluntary Prepayments								-19,328,550.40		-24,417,555.76		-13,838,657.18		-57,584,763.34
Repurchases								-348,000.00		-331,999.96		-0.00		-679,999.96
Liquidations								-0.00		-0.00		-0.00		-0.00
Current								416,514,683.42		680,981,544.27		402,704,209.58		1,500,200,437.27





PREFUNDING

SPACE INTENTIONALLY LEFT BLANK






Page 9 of 36
Morgan Stanley ABS Capital I Inc. 2005-HE1

Mortgage Pass-Through Certificates

2005-HE1

June 27, 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								7.15918%		7.26602%		7.36800%		7.26317%
Weighted Average Coupon Current								7.15401%		7.26440%		7.36695%		7.26092%
Weighted Average Months to Maturity Original								352		351		351		351
Weighted Average Months to Maturity Prior								349		347		347		348
Weighted Average Months to Maturity Current								348		346		346		347
Weighted Avg Remaining Amortization Term Original								352		351		351		351
Weighted Avg Remaining Amortization Term Prior								349		347		347		348
Weighted Avg Remaining Amortization Term Current								348		346		346		347
Weighted Average Seasoning Original								4.64		4.35		5.20		4.66
Weighted Average Seasoning Prior								7.69		7.52		8.20		7.75
Weighted Average Seasoning Current								8.70		8.52		9.20		8.75









Page 10 of 36
Morgan Stanley ABS Capital I Inc. 2005-HE1

Mortgage Pass-Through Certificates

2005-HE1

June 27, 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								5.68080%		6.03785%		5.68986%		5.84954%
Weighted Average Margin Current								5.67591%		6.04065%		5.69210%		5.85083%
Weighted Average Max Rate Original								13.70298%		13.92959%		13.43665%		13.73937%
Weighted Average Max Rate Prior								13.68827%		13.91202%		13.41325%		13.72122%
Weighted Average Max Rate Current								13.67854%		13.90670%		13.41476%		13.71686%
Weighted Average Min Rate Original								7.12363%		7.24822%		7.42933%		7.26008%
Weighted Average Min Rate Prior								7.11529%		7.23315%		7.40658%		7.24576%
Weighted Average Min Rate Current								7.10599%		7.23006%		7.40839%		7.24256%
Weighted Average Cap Up Original								1.30346%		1.34515%		1.00358%		1.24554%
Weighted Average Cap Up Prior								1.29834%		1.34420%		1.00325%		1.24318%
Weighted Average Cap Up Current								1.29864%		1.34240%		1.00310%		1.24241%
Weighted Average Cap Down Original								1.30346%		1.34515%		1.00358%		1.24554%
Weighted Average Cap Down Prior								1.29834%		1.34420%		1.00325%		1.24318%
Weighted Average Cap Down Current								1.29864%		1.34240%		1.00310%		1.24241%




SERVICING FEES & ADVANCES

									Group 3		Group 2		Group 1		Total




Current Servicing Fees								37,381.83		37,393.09		17,860.24		141,994.00
Delinquent Servicing Fees								144,504.79		216,356.97		147,031.09		507,892.85
TOTAL SERVICING FEES								181,886.62		294,287.00		173,713.24		649,886.86


Compensating Interest								-37,513.19		-42,368.78		-46,024.92		-125,906.90
Delinquent Servicing Fees								-144,504.79		-216,356.97		-147,031.09		-507,892.85
COLLECTED SERVICING FEES								-131.35		35,561.25		-19,342.78		16,087.12


Aggregate Advances with respect to this Distribution								561,049.41		694,858.85		582,475.16		1,277,334.01





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														3.0900%




Page 11 of 36
Morgan Stanley ABS Capital I Inc. 2005-HE1

Mortgage Pass-Through Certificates

2005-HE1

June 27, 2005 Distribution
Delinquency Report

	TOTAL
					< 1 PAYMENT		1 PAYMENT		2 PAYMENTS		3+ PAYMENTS		TOTAL
	DELINQUENT		Balance				26,243,647.86		7,347,422.01		2,113,775.46		35,704,845.33
			% Balance				1.75%		0.49%		0.14%		2.38%
			# Loans				170		48		15		233
			% # Loans				1.83%		0.52%		0.16%		2.51%
	FORECLOSURE		Balance		495,548.01		195,566.35		3,149,646.38		6,968,906.05		10,809,666.79
			% Balance		0.03%		0.01%		0.21%		0.46%		0.72%
			# Loans		3		2		20		52		77
			% # Loans		0.03%		0.02%		0.22%		0.56%		0.83%
	BANKRUPTCY		Balance		3,071,343.11		688,748.00		416,081.54		611,438.16		4,787,610.81
			% Balance		0.20%		0.05%		0.03%		0.04%		0.32%
			# Loans		23		5		1		4		33
			% # Loans		0.25%		0.05%		0.01%		0.04%		0.36%
	REO		Balance		0.00		0.00		0.00		51,774.08		51,774.08
			% 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		3,566,891.12		27,127,962.21		10,913,149.93		9,745,893.75		51,353,897.01
			% Balance		0.24%		1.81%		0.73%		0.65%		3.42%
			# Loans		26		177		69		72		344
			% # Loans		0.28%		1.91%		0.74%		0.77%		3.70%









Page 12 of 36
Morgan Stanley ABS Capital I Inc. 2005-HE1

Mortgage Pass-Through Certificates

2005-HE1

June 27, 2005 Distribution


	GROUP 1
					< 1 PAYMENT		1 PAYMENT		2 PAYMENTS		3+ PAYMENTS		TOTAL
	DELINQUENT		Balance				5,268,778.95		1,623,062.23		1,017,134.10		7,908,975.28
			% Balance				1.31%		0.40%		0.25%		1.96%
			# Loans				40		11		6		57
			% # Loans				1.46%		0.40%		0.22%		2.08%
	FORECLOSURE		Balance		0.00		0.00		1,199,043.23		1,790,745.75		2,989,788.98
			% Balance		0.00%		0.00%		0.30%		0.44%		0.74%
			# Loans		0		0		8		13		21
			% # Loans		0.00%		0.00%		0.29%		0.47%		0.77%
	BANKRUPTCY		Balance		661,823.10		209,754.10		0.00		436,733.07		1,308,310.27
			% Balance		0.16%		0.05%		0.00%		0.11%		0.32%
			# Loans		5		2		0		3		10
			% # Loans		0.18%		0.07%		0.00%		0.11%		0.36%
	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		661,823.10		5,478,533.05		2,822,105.46		3,244,612.92		12,207,074.53
			% Balance		0.16%		1.36%		0.70%		0.81%		3.03%
			# Loans		5		42		19		22		88
			% # Loans		0.18%		1.53%		0.69%		0.80%		3.21%










Page 13 of 36
Morgan Stanley ABS Capital I Inc. 2005-HE1

Mortgage Pass-Through Certificates

2005-HE1

June 27, 2005 Distribution

	GROUP 2
					< 1 PAYMENT		1 PAYMENT		2 PAYMENTS		3+ PAYMENTS		TOTAL
	DELINQUENT		Balance				12,224,323.43		4,109,137.03		515,523.91		16,848,984.37
			% Balance				1.80%		0.60%		0.08%		2.47%
			# Loans				86		26		6		118
			% # Loans				1.82%		0.55%		0.13%		2.50%
	FORECLOSURE		Balance		495,548.01		195,566.35		1,610,551.73		3,662,827.21		5,964,493.30
			% Balance		0.07%		0.03%		0.24%		0.54%		0.88%
			# Loans		3		2		10		28		43
			% # Loans		0.06%		0.04%		0.21%		0.59%		0.91%
	BANKRUPTCY		Balance		1,971,009.03		428,144.50		0.00		174,705.09		2,573,858.62
			% Balance		0.29%		0.06%		0.00%		0.03%		0.38%
			# Loans		14		2		0		1		17
			% # Loans		0.30%		0.04%		0.00%		0.02%		0.36%
	REO		Balance		0.00		0.00		0.00		51,774.08		51,774.08
			% 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		2,466,557.04		12,848,034.28		5,719,688.76		4,404,830.29		25,439,110.37
			% Balance		0.36%		1.89%		0.84%		0.65%		3.74%
			# Loans		17		90		36		36		179
			% # Loans		0.36%		1.91%		0.76%		0.76%		3.79%










Page 14 of 36
Morgan Stanley ABS Capital I Inc. 2005-HE1

Mortgage Pass-Through Certificates

2005-HE1

June 27, 2005 Distribution

	GROUP 3
					< 1 PAYMENT		1 PAYMENT		2 PAYMENTS		3+ PAYMENTS		TOTAL
	DELINQUENT		Balance				8,750,545.48		1,615,222.75		581,117.45		10,946,885.68
			% Balance				2.10%		0.39%		0.14%		2.63%
			# Loans				44		11		3		58
			% # Loans				2.41%		0.60%		0.16%		3.18%
	FORECLOSURE		Balance		0.00		0.00		340,051.42		1,515,333.09		1,855,384.51
			% Balance		0.00%		0.00%		0.08%		0.36%		0.45%
			# Loans		0		0		2		11		13
			% # Loans		0.00%		0.00%		0.11%		0.60%		0.71%
	BANKRUPTCY		Balance		438,510.98		50,849.40		416,081.54		0.00		905,441.92
			% Balance		0.11%		0.01%		0.10%		0.00%		0.22%
			# Loans		4		1		1		0		6
			% # Loans		0.22%		0.05%		0.05%		0.00%		0.33%
	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		438,510.98		8,801,394.88		2,371,355.71		2,096,450.54		13,707,712.11
			% Balance		0.11%		2.11%		0.57%		0.50%		3.29%
			# Loans		4		45		14		14		77
			% # Loans		0.22%		2.46%		0.77%		0.77%		4.22%









Page 15 of 36
Morgan Stanley ABS Capital I Inc. 2005-HE1

Mortgage Pass-Through Certificates

2005-HE1

June 27, 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		51,774.08		01-Dec-2004		9.750%		TN - 80.00%		360		01-Oct-2004



TOTAL			52,000.00		51,774.08



Page 16 of 36
Morgan Stanley ABS Capital I Inc. 2005-HE1

Mortgage Pass-Through Certificates

2005-HE1

June 27, 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		109,591.15		01-Jan-2005		11.000%		CA - 55.00%		360		01-Sep-2004

13939061 1			236,000.00		234,893.02		01-Jan-2005		9.900%		MI - 80.00%		360		01-Sep-2004
13960224 1			68,800.00		68,314.72		01-Feb-2005		7.900%		MI - 80.00%		360		01-Sep-2004
13963467 1			172,500.00		171,751.70		01-Jan-2005		9.750%		IL - 75.00%		360		01-Oct-2004
14000590 1			74,750.00		74,326.40		01-Jan-2005		8.450%		FL - 65.00%		360		01-Oct-2004
14009484 1			136,000.00		134,922.16		01-Jan-2005		6.750%		OH - 80.00%		360		01-Oct-2004
14043939 1			133,950.00		133,270.00		01-Feb-2005		8.990%		MD - 95.00%		360		01-Oct-2004
14081376 1			230,000.00		228,259.74		01-Feb-2005		6.990%		NY - 60.53%		360		01-Oct-2004
14084404 1			70,000.00		69,641.71		01-Feb-2005		8.950%		MI - 72.92%		360		01-Oct-2004
14109607 1			161,150.00		160,308.19		01-Jan-2005		8.850%		NJ - 74.99%		360		01-Oct-2004
14115943 1			113,050.00		112,252.62		01-Feb-2005		7.350%		WI - 85.00%		360		01-Oct-2004
14118004 1			286,300.00		284,377.48		01-Feb-2005		7.600%		NJ - 69.83%		360		01-Oct-2004
14121115 1			174,500.00		173,514.83		01-Jan-2005		8.490%		OH - 89.49%		360		01-Oct-2004
14153050 1			96,000.00		95,596.44		01-Jan-2005		9.900%		WI - 80.00%		360		01-Oct-2004
14153324 1			132,000.00		131,059.81		01-Jan-2005		7.300%		MA - 80.00%		360		01-Oct-2004
14158489 1			176,900.00		175,801.98		01-Feb-2005		8.400%		OH - 68.04%		360		01-Oct-2004
14167324 1			76,500.00		76,082.87		01-Jan-2005		8.640%		MI - 90.00%		360		01-Oct-2004
14172530 1			138,000.00		136,937.46		01-Jan-2005		6.900%		MA - 61.33%		360		01-Oct-2004
14178875 1			127,920.00		127,124.98		01-Feb-2005		7.990%		VA - 80.00%		360		01-Oct-2004
14198360 1			140,250.00		139,299.15		01-Jan-2005		8.100%		OR - 75.00%		360		01-Sep-2004
14199004 1			153,000.00		152,462.57		01-Jan-2005		10.750%		MO - 85.00%		360		01-Oct-2004
37851646 2			152,000.00		150,733.70		01-Nov-2004		6.490%		CO - 80.00%		360		01-Oct-2004
37855086 2			85,000.00		84,716.87		01-Nov-2004		10.999%		MI - 85.00%		360		01-Oct-2004
37855254 2			225,250.00		224,351.43		01-Jan-2005		10.150%		VA - 85.00%		360		01-Oct-2004
37856446 2			66,750.00		66,224.36		01-Dec-2004		6.799%		OK - 75.00%		360		01-Oct-2004
37940875 2			263,740.00		263,671.65		01-May-2005		5.975%		CA - 80.00%		360		01-Aug-2004
38029222 2			60,300.00		60,027.26		01-Nov-2004		9.550%		SC - 88.68%		360		01-Oct-2004
38032014 2			56,000.00		55,448.37		01-Mar-2005		5.600%		OH - 68.71%		360		01-Oct-2004
38032062 2			134,910.00		133,712.30		01-Jul-2005		6.600%		VA - 89.94%		360		01-Oct-2004
38032774 2			218,400.00		216,918.88		01-Dec-2004		7.550%		RI - 80.00%		360		01-Oct-2004
38033214 2			94,500.00		93,882.72		01-Dec-2004		7.740%		TN - 90.00%		360		01-Oct-2004
38033734 2			199,500.00		198,572.33		01-Dec-2004		8.840%		NJ - 70.00%		360		01-Nov-2004
38034038 2			102,000.00		101,251.43		01-Jan-2005		7.150%		TN - 79.07%		360		01-Oct-2004
38041623 2			182,200.00		180,652.96		01-Feb-2005		6.390%		OH - 67.48%		360		01-Oct-2004
38043216 2			99,000.00		98,164.06		01-May-2005		7.290%		MO - 90.00%		360		01-Nov-2004
322812082 2			39,000.00		38,366.82		01-Jan-2005		11.050%		CA - 20.00%		240		01-Oct-2004
322812447 2			213,750.00		211,999.59		01-Jan-2005		6.800%		IL - 95.00%		360		01-Oct-2004
322813940 2			86,400.00		85,804.59		01-Jan-2005		6.850%		MI - 80.00%		360		01-Nov-2004
322814302 2			114,300.00		113,879.04		01-Jan-2005		9.950%		GA - 90.00%		360		01-Nov-2004
322814427 2			280,500.00		278,711.96		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		170,826.18		01-Dec-2004		6.900%		CO - 80.00%		360		01-Nov-2004
322827239 2			114,660.00		114,045.53		01-Nov-2004		8.125%		ID - 90.00%		360		01-Nov-2004
322827601 2			169,600.00		168,518.84		01-Feb-2005		7.250%		GA - 80.00%		360		01-Nov-2004
322827809 2			94,500.00		93,946.02		01-Dec-2004		7.675%		TX - 70.00%		360		01-Nov-2004
322828898 2			124,100.00		123,410.82		01-Nov-2004		8.550%		OH - 85.00%		360		01-Oct-2004
322829318 2			137,600.00		136,515.89		01-Jan-2005		6.150%		GA - 80.00%		360		01-Nov-2004
322829490 2			78,400.00		78,029.76		01-Nov-2004		8.750%		MI - 80.00%		360		01-Nov-2004
322829524 2			193,000.00		191,896.24		01-Feb-2005		7.800%		KY - 88.13%		360		01-Nov-2004



Page 17 of 36
Morgan Stanley ABS Capital I Inc. 2005-HE1

Mortgage Pass-Through Certificates

2005-HE1

June 27, 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
322830712 2
			135,000.00		133,863.43		01-Jan-2005		6.250%		CA - 50.94%		360		01-Nov-2004

322831199 2			111,600.00		111,010.85		01-Jan-2005		8.200%		CO - 80.00%		360		01-Nov-2004
322833807 2			115,472.00		114,724.48		01-Feb-2005		7.400%		NC - 80.00%		360		01-Nov-2004
322835257 2			134,100.00		133,498.39		01-Feb-2005		9.000%		MD - 74.50%		360		01-Nov-2004
322835299 2			126,000.00		125,373.92		01-Dec-2004		8.500%		MI - 90.00%		360		01-Nov-2004
322835919 2			171,000.00		171,000.00		01-Feb-2005		7.950%		MI - 90.00%		360		01-Nov-2004
322837592 2			76,800.00		76,247.33		01-Jan-2005		6.625%		TX - 80.00%		360		01-Nov-2004
322842360 2			214,200.00		212,938.08		01-Feb-2005		7.650%		AL - 90.00%		360		01-Nov-2004
322843079 2			323,000.00		321,134.40		01-Dec-2004		7.750%		GA - 85.00%		360		01-Nov-2004
322843632 2			133,000.00		132,126.94		01-Feb-2005		7.100%		MS - 94.73%		360		01-Nov-2004
322844705 2			50,638.00		50,341.91		01-Feb-2005		10.050%		OH - 85.00%		360		01-Nov-2004
322845330 2			256,410.00		254,853.89		01-Feb-2005		7.500%		IL - 90.00%		360		01-Nov-2004
322845595 2			140,800.00		140,117.98		01-Mar-2005		8.625%		VA - 80.00%		360		01-Nov-2004
322848359 2			67,500.00		67,247.46		01-Jan-2005		9.875%		AZ - 75.00%		360		01-Nov-2004
322848508 2			53,900.00		53,734.64		01-Jan-2005		11.700%		IN - 70.00%		360		01-Nov-2004
14039036 3			65,731.00		65,387.60		01-Jan-2005		8.850%		IN - 80.00%		360		01-Oct-2004
14142046 3			210,000.00		209,111.37		01-Feb-2005		10.200%		MA - 73.17%		360		01-Oct-2004
14147169 3			119,700.00		118,956.11		01-Jan-2005		7.990%		CT - 90.00%		360		01-Oct-2004
14157697 3			131,750.00		130,940.05		01-Feb-2005		8.240%		MA - 85.00%		360		01-Oct-2004
14176119 3			106,500.00		106,052.32		01-Jan-2005		9.900%		MN - 75.00%		360		01-Oct-2004
38032278 3			87,920.00		87,248.56		01-Dec-2004		6.950%		MN - 75.15%		360		01-Oct-2004
38036039 3			385,000.00		382,086.94		01-Nov-2004		6.990%		CA - 70.00%		360		01-Oct-2004
322820432 3			372,000.00		372,000.00		01-Jan-2005		8.000%		CA - 80.00%		360		01-Nov-2004
322830142 3			66,300.00		65,998.59		01-Nov-2004		8.950%		TX - 85.00%		360		01-Nov-2004
322840182 3			61,000.00		60,850.57		01-Dec-2004		11.850%		GA - 60.40%		360		01-Nov-2004
322845652 3			80,000.00		79,598.47		01-Nov-2004		8.450%		KS - 80.00%		360		01-Nov-2004
322847302 3			103,500.00		102,737.06		01-Nov-2004		6.500%		MI - 76.10%		360		01-Nov-2004
322852104 3			74,800.00		74,416.87		01-Jan-2005		8.350%		SC - 85.00%		360		01-Nov-2004


TOTAL			10,870,551.00		10,809,666.79



Page 18 of 36
Morgan Stanley ABS Capital I Inc. 2005-HE1

Mortgage Pass-Through Certificates

2005-HE1

June 27, 2005 Distribution
Prepayment Report

VOLUNTARY PREPAYMENTS


									Group 3		Group 2		Group 1		Total




Current


Number of Paid in Full Loans								75		142		89		306
Number of Repurchased Loans								1		1		0		2
Total Number of Loans Prepaid in Full								76		143		89		308
Curtailments Amount								18,321.56		36,095.41		21,223.13		75,640.10
Paid in Full Balance								19,328,550.40		24,417,555.76		13,838,657.18		57,584,763.34
Repurchased Loans Balance								348,000.00		331,999.96		0.00		679,999.96
Total Prepayment Amount								19,694,871.96		24,785,651.13		13,859,880.31		58,340,403.40

Cumulative


Number of Paid in Full Loans								265		490		307		1,062
Number of Repurchased Loans								2		1		0		3
Total Number of Loans Prepaid in Full								267		491		307		1,065
Paid in Full Balance								69,782,900.64		85,419,135.22		50,416,550.86		205,618,586.72
Repurchased Loans Balance								585,278.82		331,999.96		0.00		917,278.78
Curtailments Amount								196,778.30		194,023.30		106,773.44		497,575.04
Total Prepayment Amount								70,564,957.76		85,945,158.48		50,523,324.30		207,033,440.54










Page 19 of 36
Morgan Stanley ABS Capital I Inc. 2005-HE1

Mortgage Pass-Through Certificates

2005-HE1

June 27, 2005 Distribution

VOLUNTARY PREPAYMENTS RATES


									Group 3		Group 2		Group 1		Total



SMM								4.52%		3.51%		3.33%		3.74%
3 Months Avg SMM								3.63%		2.85%		2.88%		3.08%
12 Months Avg SMM								3.08%		2.35%		2.33%		2.55%
Avg SMM Since Cut-off								3.08%		2.35%		2.33%		2.55%


CPR								42.56%		34.88%		33.37%		36.73%
3 Months Avg CPR								35.81%		29.36%		29.56%		31.28%
12 Months Avg CPR								31.28%		24.79%		24.67%		26.65%
Avg CPR Since Cut-off								31.28%		24.79%		24.67%		26.65%


PSA								2,444.81%		2,047.70%		1,813.49%		2,098.35%
3 Months Avg PSA Approximation								2,326.07%		1,952.70%		1,802.58%		2,018.03%
12 Months Avg PSA Approximation								2,342.81%		1,921.88%		1,713.63%		1,984.56%
Avg PSA Since Cut-off Approximation								2,342.81%		1,921.88%		1,713.63%		1,984.56%










Page 20 of 36
Morgan Stanley ABS Capital I Inc. 2005-HE1

Mortgage Pass-Through Certificates

2005-HE1

June 27, 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 36
Morgan Stanley ABS Capital I Inc. 2005-HE1

Mortgage Pass-Through Certificates

2005-HE1

June 27, 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

13285820 3			120,250.00		119,706.66			10-May-2005		10.400%		TX - 64.30%		Paid Off - 360		01-Sep-2004


13791165 1			330,410.00		327,113.38			10-May-2005		6.625%		MA - 95.00%		Paid Off - 360		01-Jul-2004

13847611 1			196,000.00		194,965.38			25-May-2005		8.200%		NJ - 70.00%		Paid Off - 360		01-Oct-2004

13868997 1			172,000.00		170,270.02			24-May-2005		5.490%		CA - 80.00%		Paid Off - 360		01-Sep-2004

13874391 1			88,800.00		87,944.19			25-May-2005		7.850%		TX - 76.88%		Paid Off - 360		01-Sep-2004

13874797 1			64,204.00		63,786.67			25-May-2005		7.800%		PA - 80.00%		Paid Off - 360		01-Sep-2004

13882220 3			140,000.00		139,064.00			17-May-2005		8.250%		VA - 80.00%		Paid Off - 360		01-Sep-2004

13896436 1			67,950.00		67,636.29			11-May-2005		9.450%		TN - 84.94%		Paid Off - 360		01-Sep-2004

13926233 3			115,430.00		114,985.97			13-May-2005		10.700%		MA - 70.00%		Paid Off - 360		01-Sep-2004

13932900 1			80,000.00		79,421.65			27-May-2005		7.250%		FL - 80.00%		Paid Off - 360		01-Sep-2004

13940333 1			161,600.00		157,372.69			05-May-2005		9.500%		FL - 80.00%		Paid Off - 180		01-Sep-2004

13942255 1			161,500.00		160,286.68			12-May-2005		6.400%		CA - 85.00%		Paid Off - 360		01-Oct-2004

13958368 1			163,500.00		162,391.21			20-May-2005		7.550%		WA - 75.00%		Paid Off - 360		01-Sep-2004

13959168 3			247,000.00		245,947.60			05-May-2005		9.850%		CA - 65.00%		Paid Off - 360		01-Sep-2004

13965157 1			202,350.00		201,191.77			31-May-2005		8.400%		NH - 95.00%		Paid Off - 360		01-Sep-2004

13970934 1			174,000.00		172,733.73			02-May-2005		7.190%		CT - 80.00%		Paid Off - 360		01-Sep-2004

13975099 3			230,000.00		228,399.74			09-May-2005		6.800%		CA - 63.89%		Paid Off - 360		01-Oct-2004

13984414 1			210,000.00		208,710.35			02-May-2005		7.450%		CA - 56.00%		Paid Off - 360		01-Oct-2004

13991799 1			76,500.00		76,139.36			26-May-2005		9.350%		MI - 56.67%		Paid Off - 360		01-Sep-2004

13995923 1			153,750.00		152,954.99			27-May-2005		8.900%		CA - 75.00%		Paid Off - 360		01-Sep-2004

14005037 3			295,200.00		293,748.18			17-May-2005		8.550%		FL - 80.00%		Paid Off - 360		01-Oct-2004

14007140 1			203,250.00		201,523.63			31-May-2005		5.750%		CT - 75.00%		Paid Off - 360		01-Oct-2004

14010417 3			364,000.00		361,939.08			27-May-2005		7.850%		OH - 80.00%		Paid Off - 360		01-Oct-2004

14017487 1			206,100.00		204,802.36			20-May-2005		8.250%		VA - 90.00%		Paid Off - 360		01-Sep-2004

14019236 3			249,600.00		247,890.55			16-May-2005		7.500%		MA - 78.86%		Paid Off - 360		01-Sep-2004

14031454 3			158,554.00		158,010.56			11-May-2005		10.290%		GA - 80.00%		Paid Off - 360		01-Oct-2004

14035208 3			122,000.00		121,079.87			16-May-2005		6.990%		WI - 64.19%		Paid Off - 360		01-Oct-2004

14043095 3			392,700.00		390,404.70			17-May-2005		7.690%		CA - 85.00%		Paid Off - 360		01-Oct-2004

14045561 1			295,000.00		292,927.66			05-May-2005		6.750%		CA - 69.74%		Paid Off - 360		01-Oct-2004

14046643 1			79,200.00		78,864.49			16-May-2005		9.350%		FL - 90.00%		Paid Off - 360		01-Oct-2004

14048060 1			240,000.00		238,289.45			02-May-2005		6.675%		MA - 73.17%		Paid Off - 360		01-Oct-2004

14053342 3			144,000.00		143,373.64			02-May-2005		9.150%		CA - 90.00%		Paid Off - 360		01-Oct-2004

14062426 1			122,400.00		121,878.43			10-May-2005		9.250%		MI - 80.00%		Paid Off - 360		01-Oct-2004

14062582 1			55,250.00		55,080.08			04-May-2005		10.800%		NV - 17.00%		Paid Off - 360		01-Oct-2004

14065148 1			198,000.00		196,854.85			13-May-2005		7.750%		WI - 90.00%		Paid Off - 360		01-Oct-2004

14066385 1			256,000.00		254,590.54			11-May-2005		7.990%		PA - 80.00%		Paid Off - 360		01-Oct-2004

14068886 1			200,000.00		198,594.97			31-May-2005		6.750%		CA - 71.43%		Paid Off - 360		01-Oct-2004




Page 22 of 36
Morgan Stanley ABS Capital I Inc. 2005-HE1

Mortgage Pass-Through Certificates

2005-HE1

June 27, 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

14069595 1			117,600.00		116,797.50			03-May-2005		6.900%		PA - 80.00%		Paid Off - 360		01-Oct-2004


14070700 1			180,000.00		179,132.59			02-May-2005		8.650%		NV - 74.07%		Paid Off - 360		01-Oct-2004

14071005 3			155,000.00		153,879.23			23-May-2005		6.600%		CA - 74.16%		Paid Off - 360		01-Oct-2004

14072870 1			280,000.00		278,650.66			19-May-2005		8.650%		NY - 77.78%		Paid Off - 360		01-Oct-2004

14073712 1			68,000.00		67,715.53			02-May-2005		9.350%		GA - 85.00%		Paid Off - 360		01-Oct-2004

14075832 1			102,000.00		101,422.52			09-May-2005		7.850%		AZ - 83.61%		Paid Off - 360		01-Oct-2004

14079586 1			160,800.00		159,774.99			17-May-2005		7.250%		RI - 80.00%		Paid Off - 360		01-Oct-2004

14080063 1			65,600.00		64,686.82			05-May-2005		7.990%		CA - 80.00%		Paid Off - 240		01-Oct-2004

14081772 1			129,500.00		128,486.71			05-May-2005		6.450%		FL - 37.00%		Paid Off - 360		01-Oct-2004

14088603 1			65,000.00		64,626.30			24-May-2005		8.200%		VT - 52.59%		Paid Off - 360		01-Oct-2004

14088652 1			150,000.00		149,120.70			27-May-2005		7.675%		RI - 63.83%		Paid Off - 360		01-Oct-2004

14088900 1			80,520.00		80,225.94			25-May-2005		9.990%		GA - 88.00%		Paid Off - 360		01-Oct-2004

14092167 1			102,000.00		101,173.32			02-May-2005		6.000%		MA - 64.56%		Paid Off - 360		01-Oct-2004

14092555 3			484,000.00		480,222.75			06-May-2005		6.200%		NJ - 75.63%		Paid Off - 360		01-Oct-2004

14092852 1			160,000.00		158,999.56			25-May-2005		7.650%		MD - 80.00%		Paid Off - 360		01-Oct-2004

14094304 1			72,250.00		71,853.05			26-May-2005		8.000%		IL - 85.00%		Paid Off - 360		01-Oct-2004

14097711 1			63,500.00		62,516.29			18-May-2005		7.650%		NC - 78.40%		Paid Off - 240		01-Oct-2004

14099527 1			287,250.00		284,855.30			25-May-2005		5.850%		CA - 75.00%		Paid Off - 360		01-Oct-2004

14099964 1			276,000.00		273,633.65			10-May-2005		5.700%		NY - 80.00%		Paid Off - 360		01-Oct-2004

14101695 3			292,000.00		284,267.16			23-May-2005		7.100%		GA - 80.00%		Paid Off - 180		01-Oct-2004

14105688 1			86,400.00		86,054.09			02-May-2005		9.550%		NC - 80.00%		Paid Off - 360		01-Oct-2004

14107528 1			243,200.00		241,753.00			02-May-2005		7.600%		NY - 80.00%		Paid Off - 360		01-Oct-2004

14107700 1			60,800.00		60,560.37			02-May-2005		9.625%		NY - 20.00%		Paid Off - 360		01-Oct-2004

14107734 1			197,600.00		196,086.90			18-May-2005		6.300%		MA - 80.00%		Paid Off - 360		01-Oct-2004

14109334 3			629,900.00		626,114.88			25-May-2005		7.550%		NJ - 69.99%		Paid Off - 360		01-Oct-2004

14109797 1			146,000.00		145,274.66			16-May-2005		8.500%		IL - 52.14%		Paid Off - 360		01-Oct-2004

14110043 1			66,000.00		65,746.57			16-May-2005		9.750%		GA - 60.00%		Paid Off - 360		01-Oct-2004

14113344 1			184,000.00		184,000.00			02-May-2005		5.750%		CA - 80.00%		Paid Off - 360		01-Oct-2004

14114185 1			70,200.00		69,773.98			31-May-2005		7.500%		FL - 90.00%		Paid Off - 360		01-Oct-2004

14114219 1			100,000.00		99,619.97			17-May-2005		9.800%		TX - 80.00%		Paid Off - 360		01-Oct-2004

14114714 1			132,000.00		131,198.96			04-May-2005		7.500%		TX - 80.00%		Paid Off - 360		01-Oct-2004

14116941 3			129,200.00		128,468.48			25-May-2005		7.850%		NJ - 95.00%		Paid Off - 360		01-Oct-2004

14117253 1			204,000.00		202,671.37			25-May-2005		7.140%		NY - 80.00%		Paid Off - 360		01-Oct-2004

14117808 1			51,000.00		50,865.14			25-May-2005		11.500%		NY - 20.00%		Paid Off - 360		01-Oct-2004

14117949 3			242,400.00		240,613.36			04-May-2005		6.500%		UT - 80.00%		Paid Off - 360		01-Oct-2004

14120810 1			133,000.00		132,000.08			12-May-2005		6.400%		FL - 64.88%		Paid Off - 360		01-Oct-2004

14120919 1			199,500.00		198,312.99			10-May-2005		7.600%		NJ - 95.00%		Paid Off - 360		01-Oct-2004

14124820 3			248,400.00		246,972.47			23-May-2005		7.775%		CA - 90.00%		Paid Off - 360		01-Oct-2004




Page 23 of 36
Morgan Stanley ABS Capital I Inc. 2005-HE1

Mortgage Pass-Through Certificates

2005-HE1

June 27, 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

14127831 1			142,500.00		141,573.76			25-May-2005		7.150%		CA - 75.00%		Paid Off - 360		01-Oct-2004


14127880 1			164,000.00		162,974.94			12-May-2005		7.350%		NV - 60.52%		Paid Off - 360		01-Oct-2004

14128706 1			160,000.00		159,017.38			13-May-2005		7.450%		IA - 79.60%		Paid Off - 360		01-Oct-2004

14128789 1			64,000.00		63,700.84			02-May-2005		8.800%		NC - 80.00%		Paid Off - 360		01-Oct-2004

14130983 3			87,000.00		84,939.37			23-May-2005		8.150%		CA - 66.92%		Paid Off - 240		01-Oct-2004

14131593 1			126,504.00		125,599.38			05-May-2005		7.250%		AZ - 90.00%		Paid Off - 360		01-Oct-2004

14132369 1			130,000.00		129,023.30			05-May-2005		6.400%		CA - 59.09%		Paid Off - 360		01-Oct-2004

14132484 3			313,500.00		311,099.40			12-May-2005		6.300%		CA - 95.00%		Paid Off - 360		01-Oct-2004

14133870 1			264,000.00		262,555.19			19-May-2005		8.020%		RI - 80.00%		Paid Off - 360		01-Oct-2004

14134001 3			451,000.00		448,643.20			02-May-2005		8.250%		FL - 68.85%		Paid Off - 360		01-Oct-2004

14134019 1			223,500.00		221,705.54			12-May-2005		6.050%		CA - 86.29%		Paid Off - 360		01-Oct-2004

14140305 1			76,500.00		76,142.44			25-May-2005		8.800%		OH - 90.00%		Paid Off - 360		01-Oct-2004

14142954 1			303,000.00		300,497.66			12-May-2005		5.900%		NY - 87.83%		Paid Off - 360		01-Oct-2004

14143184 3			440,000.00		437,055.10			12-May-2005		7.000%		MA - 80.00%		Paid Off - 360		01-Oct-2004

14147052 1			246,400.00		245,433.83			05-May-2005		9.650%		ME - 70.00%		Paid Off - 360		01-Oct-2004

14147359 1			135,915.00		135,303.96			25-May-2005		8.990%		WI - 85.00%		Paid Off - 360		01-Oct-2004

14147391 1			252,000.00		250,361.90			02-May-2005		7.150%		RI - 90.00%		Paid Off - 360		01-Oct-2004

14148654 3			185,400.00		185,346.80			31-May-2005		6.990%		NY - 90.00%		Paid Off - 360		01-Oct-2004

14149165 1			116,000.00		115,423.68			04-May-2005		8.500%		CT - 80.00%		Paid Off - 360		01-Oct-2004

14149439 3			383,850.00		381,610.90			05-May-2005		7.700%		NY - 90.00%		Paid Off - 360		01-Oct-2004

14150775 1			192,500.00		191,495.02			19-May-2005		8.300%		NY - 70.00%		Paid Off - 360		01-Oct-2004

14152235 1			125,040.00		124,339.05			31-May-2005		7.900%		MI - 79.83%		Paid Off - 360		01-Oct-2004

14152862 1			167,000.00		165,450.92			24-May-2005		5.600%		NJ - 60.73%		Paid Off - 360		01-Oct-2004

14153159 1			67,600.00		67,101.72			02-May-2005		6.500%		NC - 65.00%		Paid Off - 360		01-Oct-2004

14154389 1			68,400.00		68,123.30			31-May-2005		9.500%		IL - 90.00%		Paid Off - 360		01-Oct-2004

14154645 1			262,500.00		260,638.11			18-May-2005		6.700%		CA - 84.68%		Paid Off - 360		01-Oct-2004

14155006 1			206,250.00		204,866.90			18-May-2005		6.990%		RI - 75.00%		Paid Off - 360		01-Oct-2004

14155311 1			183,750.00		182,917.12			06-May-2005		8.950%		NJ - 75.00%		Paid Off - 360		01-Oct-2004

14155568 1			266,000.00		264,489.90			02-May-2005		8.300%		MA - 79.40%		Paid Off - 360		01-Oct-2004

14156384 1			212,800.00		211,506.57			24-May-2005		7.740%		VA - 80.00%		Paid Off - 360		01-Oct-2004

14157416 1			280,160.00		278,459.79			02-May-2005		7.500%		NY - 80.00%		Paid Off - 360		01-Oct-2004

14158356 1			237,600.00		235,880.64			10-May-2005		7.350%		NJ - 80.00%		Paid Off - 360		01-Oct-2004

14159180 1			114,400.00		113,978.69			18-May-2005		9.950%		GA - 80.00%		Paid Off - 360		01-Oct-2004

14160071 1			132,000.00		131,437.56			24-May-2005		9.250%		LA - 80.00%		Paid Off - 360		01-Oct-2004

14160337 1			53,754.00		53,531.93			24-May-2005		9.400%		NY - 85.00%		Paid Off - 360		01-Oct-2004

14164305 1			79,500.00		78,891.26			24-May-2005		6.300%		CA - 57.61%		Paid Off - 360		01-Oct-2004

14165260 1			148,000.00		147,175.81			12-May-2005		7.990%		NJ - 80.00%		Paid Off - 360		01-Oct-2004

14175608 3			215,000.00		213,505.75			02-May-2005		6.950%		IL - 56.58%		Paid Off - 360		01-Oct-2004




Page 24 of 36
Morgan Stanley ABS Capital I Inc. 2005-HE1

Mortgage Pass-Through Certificates

2005-HE1

June 27, 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

14177844 1			157,500.00		156,280.97			03-May-2005		7.150%		VA - 70.00%		Paid Off - 360		01-Nov-2004


14180939 1			180,000.00		178,863.79			10-May-2005		7.300%		FL - 75.00%		Paid Off - 360		01-Oct-2004

37850886 2			148,000.00		147,248.65			20-May-2005		8.990%		MD - 80.00%		Paid Off - 360		01-Sep-2004

37851134 3			199,750.00		198,630.21			19-May-2005		7.900%		CA - 85.00%		Paid Off - 360		01-Oct-2004

37851854 2			116,800.00		116,150.84			16-May-2005		8.000%		VA - 80.00%		Paid Off - 360		01-Oct-2004

37851982 3			76,800.00		76,377.12			19-May-2005		7.990%		TX - 80.00%		Paid Off - 360		01-Oct-2004

37852958 3			220,000.00		218,377.08			03-May-2005		6.500%		CA - 80.00%		Paid Off - 360		01-Oct-2004

37853142 3			121,600.00		121,001.88			10-May-2005		8.550%		TX - 80.00%		Paid Off - 360		01-Oct-2004

37855590 3			48,000.00		47,628.87			16-May-2005		6.250%		SD - 80.00%		Paid Off - 360		01-Oct-2004

37856166 3			170,000.00		169,978.31			31-May-2005		6.800%		CA - 85.00%		Paid Off - 360		01-Oct-2004

37856422 3			360,000.00		359,975.75			27-May-2005		6.750%		CA - 92.78%		Paid Off - 360		01-Oct-2004

37856998 2			124,000.00		123,063.13			24-May-2005		6.999%		FL - 80.00%		Paid Off - 360		01-Sep-2004

37939995 2			287,300.00		287,300.00			02-May-2005		6.990%		CA - 85.00%		Paid Off - 360		01-Aug-2004

38028934 2			277,600.00		276,028.26			17-May-2005		7.850%		IL - 61.69%		Paid Off - 360		01-Oct-2004

38029014 2			144,000.00		143,329.09			31-May-2005		8.140%		NJ - 80.00%		Paid Off - 360		01-Nov-2004

38029382 2			55,200.00		54,861.61			23-May-2005		6.750%		WI - 78.86%		Paid Off - 360		01-Nov-2004

38030382 2			130,200.00		129,510.78			19-May-2005		7.500%		NV - 70.00%		Paid Off - 360		01-Nov-2004

38030806 2			330,000.00		327,809.10			25-May-2005		7.050%		NJ - 75.00%		Paid Off - 360		01-Oct-2004

38031366 2			93,600.00		93,125.82			19-May-2005		7.750%		WI - 66.38%		Paid Off - 360		01-Nov-2004

38031382 2			160,000.00		158,970.00			02-May-2005		7.200%		CT - 80.00%		Paid Off - 360		01-Oct-2004

38032478 2			250,400.00		248,589.36			03-May-2005		6.600%		TN - 80.00%		Paid Off - 360		01-Oct-2004

38032814 2			216,750.00		215,446.87			13-May-2005		6.850%		IL - 85.00%		Paid Off - 360		01-Nov-2004

38032878 2			208,000.00		206,754.47			20-May-2005		7.050%		MA - 75.36%		Paid Off - 360		01-Nov-2004

38032902 2			50,000.00		49,763.81			31-May-2005		8.750%		MN - 66.67%		Paid Off - 360		01-Oct-2004

38034238 2			250,000.00		248,518.35			03-May-2005		7.620%		NJ - 84.75%		Paid Off - 360		01-Oct-2004

38034663 2			197,000.00		195,941.16			05-May-2005		7.500%		CA - 78.17%		Paid Off - 360		01-Nov-2004

38034711 2			143,500.00		142,192.94			10-May-2005		7.250%		NM - 70.00%		Paid Off - 360		01-Nov-2004

38034719 2			105,600.00		105,116.37			11-May-2005		8.900%		FL - 80.00%		Paid Off - 360		01-Oct-2004

38034735 2			292,500.00		290,635.47			20-May-2005		7.250%		VA - 90.00%		Paid Off - 360		01-Oct-2004

38034791 2			182,750.00		181,358.28			26-May-2005		6.850%		GA - 85.00%		Paid Off - 360		01-Oct-2004

38035007 2			156,000.00		154,850.15			05-May-2005		6.500%		IL - 84.55%		Paid Off - 360		01-Oct-2004

38035279 2			221,000.00		219,437.26			05-May-2005		7.300%		MD - 85.00%		Paid Off - 360		01-Oct-2004

38035503 2			180,000.00		179,264.13			03-May-2005		9.450%		NJ - 80.00%		Paid Off - 360		01-Oct-2004

38035703 3			251,250.00		249,782.78			24-May-2005		7.000%		CA - 75.00%		Paid Off - 360		01-Nov-2004

38036199 2			144,000.00		142,988.42			16-May-2005		6.750%		FL - 77.84%		Paid Off - 360		01-Oct-2004

38036215 2			107,000.00		106,539.30			25-May-2005		9.200%		WV - 66.46%		Paid Off - 360		01-Oct-2004

38036591 2			117,000.00		116,253.49			04-May-2005		7.050%		CA - 65.73%		Paid Off - 360		01-Nov-2004

38036695 2			165,000.00		164,093.30			31-May-2005		8.000%		NJ - 60.66%		Paid Off - 360		01-Oct-2004




Page 25 of 36
Morgan Stanley ABS Capital I Inc. 2005-HE1

Mortgage Pass-Through Certificates

2005-HE1

June 27, 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

38036759 2			162,500.00		161,422.91			02-May-2005		7.050%		CA - 64.74%		Paid Off - 360		01-Oct-2004


38037207 2			51,088.00		50,732.51			18-May-2005		6.800%		MI - 78.60%		Paid Off - 360		01-Oct-2004

38037543 2			105,600.00		105,111.44			13-May-2005		8.850%		GA - 80.00%		Paid Off - 360		01-Oct-2004

38037551 2			254,320.00		252,666.81			27-May-2005		7.150%		NJ - 80.00%		Paid Off - 360		01-Oct-2004

38037695 2			178,000.00		176,959.90			11-May-2005		7.000%		CA - 80.00%		Paid Off - 360		01-Nov-2004

38038143 2			180,200.00		178,921.84			19-May-2005		6.700%		FL - 85.00%		Paid Off - 360		01-Oct-2004

38039495 2			265,500.00		264,299.85			10-May-2005		8.290%		NJ - 75.00%		Paid Off - 360		01-Nov-2004

38039959 3			369,000.00		366,020.83			19-May-2005		6.070%		CA - 67.09%		Paid Off - 360		01-Nov-2004

38040063 2			248,000.00		246,809.22			20-May-2005		7.990%		MD - 88.26%		Paid Off - 360		01-Nov-2004

38040687 2			255,000.00		252,913.69			02-May-2005		5.950%		VA - 59.30%		Paid Off - 360		01-Oct-2004

38041015 2			170,800.00		169,343.42			26-May-2005		6.540%		MN - 79.44%		Paid Off - 360		01-Nov-2004

38041375 2			275,000.00		273,666.24			11-May-2005		7.940%		PA - 89.58%		Paid Off - 360		01-Nov-2004

38041519 2			195,000.00		193,781.39			24-May-2005		6.650%		MO - 81.93%		Paid Off - 360		01-Nov-2004

38042055 2			67,150.00		66,800.71			05-May-2005		7.640%		MO - 85.00%		Paid Off - 360		01-Nov-2004

38042095 2			85,500.00		85,147.29			31-May-2005		8.740%		IL - 90.00%		Paid Off - 360		01-Nov-2004

38042319 2			127,500.00		126,696.12			19-May-2005		6.650%		MN - 75.00%		Paid Off - 360		01-Nov-2004

38042343 2			246,500.00		245,040.87			26-May-2005		6.930%		CA - 85.00%		Paid Off - 360		01-Nov-2004

38042784 2			153,000.00		152,308.37			31-May-2005		8.290%		IL - 90.00%		Paid Off - 360		01-Nov-2004

38042800 2			118,000.00		117,522.10			13-May-2005		9.490%		NJ - 80.00%		Paid Off - 360		01-Nov-2004

38043240 2			172,800.00		171,728.43			25-May-2005		6.690%		MD - 80.00%		Paid Off - 360		01-Nov-2004

38043264 2			74,000.00		73,592.49			02-May-2005		7.300%		IA - 80.43%		Paid Off - 360		01-Nov-2004

38043520 2			226,260.00		224,679.77			06-May-2005		7.950%		MD - 90.00%		Paid Off - 360		01-Aug-2004

38043592 2			261,000.00		259,350.03			05-May-2005		6.590%		MD - 90.00%		Paid Off - 360		01-Nov-2004

38043960 2			84,600.00		84,205.79			26-May-2005		7.350%		CA - 45.73%		Paid Off - 360		01-Dec-2004

321690836 2			96,800.00		95,811.94			15-Jun-2005		6.975%		AZ - 80.00%		Paid Off - 360		01-Jun-2004

321725657 2			200,000.00		197,771.20			07-Jun-2005		6.950%		CA - 57.14%		Paid Off - 360		01-May-2004

321788234 2			267,200.00		263,990.65			02-Jun-2005		7.400%		CA - 80.00%		Paid Off - 360		01-May-2004

322812223 2			235,000.00		232,985.14			16-May-2005		5.700%		CA - 55.95%		Paid Off - 360		01-Oct-2004

322812355 2			250,155.00		248,575.95			19-May-2005		7.300%		CA - 90.00%		Paid Off - 360		01-Oct-2004

322812611 2			156,000.00		153,831.64			13-Jun-2005		6.275%		CA - 80.00%		Paid Off - 360		01-Oct-2004

322812728 2			31,980.00		31,674.42			08-Jun-2005		11.800%		MO - 20.00%		Paid Off - 240		01-Oct-2004

322813049 2			196,000.00		196,000.00			27-May-2005		8.350%		RI - 80.00%		Paid Off - 360		01-Oct-2004

322813106 2			272,000.00		270,696.62			25-May-2005		8.000%		NJ - 85.00%		Paid Off - 360		01-Nov-2004

322813213 2			191,000.00		190,172.59			20-May-2005		8.500%		CA - 73.46%		Paid Off - 360		01-Nov-2004

322813742 2			40,800.00		40,436.97			03-Jun-2005		11.550%		CA - 20.00%		Paid Off - 240		01-Oct-2004

322813841 2			168,000.00		167,999.80			24-May-2005		6.800%		CA - 80.00%		Paid Off - 360		01-Nov-2004

322813957 2			161,900.00		160,864.35			13-May-2005		6.750%		CA - 52.23%		Paid Off - 360		01-Nov-2004

322814047 2			59,250.00		59,006.09			23-May-2005		8.750%		NJ - 75.00%		Paid Off - 360		01-Nov-2004




Page 26 of 36
Morgan Stanley ABS Capital I Inc. 2005-HE1

Mortgage Pass-Through Certificates

2005-HE1

June 27, 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

322814161 2			284,750.00		283,329.79			17-May-2005		7.800%		NV - 85.00%		Paid Off - 360		01-Nov-2004


322814484 2			253,650.00		253,650.00			15-Jun-2005		7.650%		HI - 95.00%		Paid Off - 360		01-Nov-2004

322814492 2			173,600.00		172,689.23			01-Jun-2005		7.550%		IL - 80.00%		Paid Off - 360		01-Nov-2004

322814658 2			301,000.00		298,949.90			06-Jun-2005		6.200%		NJ - 78.18%		Paid Off - 360		01-Nov-2004

322814732 2			330,000.00		328,000.03			02-Jun-2005		6.850%		CA - 75.00%		Paid Off - 360		01-Nov-2004

322815408 2			235,000.00		233,754.55			31-May-2005		7.575%		NV - 60.57%		Paid Off - 360		01-Nov-2004

322815473 3			33,600.00		33,320.31			31-May-2005		10.990%		OR - 20.00%		Paid Off - 240		01-Nov-2004

322815861 3			338,500.00		336,987.94			18-May-2005		8.350%		NJ - 82.56%		Paid Off - 360		01-Nov-2004

322816372 2			212,800.00		212,800.00			27-May-2005		9.200%		FL - 95.00%		Paid Off - 360		01-Oct-2004

322816497 3			345,000.00		344,999.99			07-Jun-2005		6.490%		CA - 75.00%		Paid Off - 360		01-Nov-2004

322816695 3			250,000.00		246,811.84			16-May-2005		6.500%		MD - 63.29%		Paid Off - 360		01-Nov-2004

322817552 3			187,000.00		186,267.17			11-May-2005		8.990%		CA - 85.00%		Paid Off - 360		01-Nov-2004

322818550 2			128,000.00		127,327.16			01-Jun-2005		7.550%		CA - 77.11%		Paid Off - 360		01-Nov-2004

322818691 2			143,450.00		143,450.00			31-May-2005		6.550%		AZ - 95.00%		Paid Off - 360		01-Nov-2004

322818733 2			128,000.00		127,999.97			13-Jun-2005		6.200%		FL - 80.00%		Paid Off - 360		01-Nov-2004

322818774 3			262,500.00		261,239.55			01-Jun-2005		7.990%		CA - 70.00%		Paid Off - 360		01-Nov-2004

322819129 3			44,800.00		44,404.47			16-May-2005		11.600%		FL - 20.00%		Paid Off - 240		01-Oct-2004

322819350 2			202,025.00		200,441.03			15-Jun-2005		5.450%		CA - 61.22%		Paid Off - 360		01-Nov-2004

322819467 2			102,400.00		101,905.63			13-Jun-2005		7.963%		FL - 80.00%		Paid Off - 360		01-Nov-2004

322819707 2			93,600.00		92,993.80			01-Jun-2005		6.775%		IL - 90.00%		Paid Off - 360		01-Nov-2004

322820085 2			139,410.00		138,870.35			10-Jun-2005		9.050%		FL - 90.00%		Paid Off - 360		01-Nov-2004

322820242 2			200,000.00		198,825.84			24-May-2005		6.990%		NV - 69.69%		Paid Off - 360		01-Nov-2004

322820747 2			31,600.00		31,269.92			01-Jun-2005		10.000%		AZ - 20.00%		Paid Off - 240		01-Nov-2004

322820861 3			419,600.00		419,600.00			01-Jun-2005		5.350%		CA - 80.00%		Paid Off - 360		01-Nov-2004

322821117 3			696,000.00		696,000.00			13-Jun-2005		5.990%		CA - 80.00%		Paid Off - 360		01-Nov-2004

322821554 2			152,000.00		151,263.23			09-Jun-2005		8.300%		FL - 64.68%		Paid Off - 360		01-Nov-2004

322821877 2			83,300.00		82,715.25			14-Jun-2005		7.375%		AZ - 70.00%		Paid Off - 360		01-Sep-2004

322823105 3			310,250.00		308,795.60			31-May-2005		8.700%		IL - 85.00%		Paid Off - 360		01-Nov-2004

322823196 2			284,800.00		283,104.28			17-May-2005		6.900%		CA - 80.00%		Paid Off - 360		01-Nov-2004

322823261 3			369,750.00		369,544.84			17-May-2005		6.700%		CA - 85.00%		Paid Off - 360		01-Oct-2004

322823337 2			268,800.00		268,800.00			31-May-2005		6.600%		NV - 80.00%		Paid Off - 360		01-Sep-2004

322823386 2			162,000.00		162,000.00			26-May-2005		9.400%		MN - 90.00%		Paid Off - 360		01-Oct-2004

322823485 2			156,600.00		155,722.15			16-May-2005		7.900%		NV - 90.00%		Paid Off - 360		01-Oct-2004

322823592 3			415,000.00		412,802.45			01-Jun-2005		7.500%		NY - 83.84%		Paid Off - 360		01-Nov-2004

322823634 2			280,000.00		#######			23-May-2005		9.650%		NY - 80.00%		Paid Off - 360		01-Oct-2004

322823790 3			391,500.00		391,500.00			06-Jun-2005		7.200%		CA - 79.09%		Paid Off - 360		01-Oct-2004

322824160 2			194,000.00		191,816.44			16-May-2005		7.200%		CA - 82.55%		Paid Off - 360		01-Oct-2004

322824202 2			211,500.00		210,074.54			08-Jun-2005		6.900%		CA - 76.91%		Paid Off - 360		01-Nov-2004




Page 27 of 36
Morgan Stanley ABS Capital I Inc. 2005-HE1

Mortgage Pass-Through Certificates

2005-HE1

June 27, 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

322824350 3			463,250.00		460,683.72			03-Jun-2005		7.300%		CT - 85.00%		Paid Off - 360		01-Nov-2004


322824640 2			133,000.00		133,000.00			08-Jun-2005		6.450%		CA - 57.83%		Paid Off - 360		01-Nov-2004

322824707 3			202,500.00		201,235.84			10-Jun-2005		6.750%		VA - 90.00%		Paid Off - 360		01-Nov-2004

322824848 3			315,000.00		313,357.11			26-May-2005		7.575%		NY - 77.78%		Paid Off - 360		01-Nov-2004

322825480 2			181,900.00		180,615.34			19-May-2005		6.250%		CA - 85.00%		Paid Off - 360		01-Nov-2004

322825811 3			229,250.00		228,149.24			03-Jun-2005		7.990%		CA - 70.00%		Paid Off - 360		01-Nov-2004

322825860 2			287,000.00		284,665.11			12-May-2005		5.250%		CA - 61.06%		Paid Off - 360		01-Nov-2004

322825944 2			315,000.00		313,550.04			07-Jun-2005		8.200%		MD - 60.00%		Paid Off - 360		01-Nov-2004

322826173 3			378,000.00		375,206.06			31-May-2005		5.990%		CA - 88.73%		Paid Off - 360		01-Nov-2004

322826330 2			291,550.00		289,872.26			19-May-2005		7.075%		MN - 85.00%		Paid Off - 360		01-Nov-2004

322827189 2			71,100.00		70,750.92			15-Jun-2005		7.900%		OH - 90.00%		Paid Off - 360		01-Nov-2004

322828450 2			148,000.00		146,841.72			27-May-2005		6.300%		CA - 80.00%		Paid Off - 360		01-Oct-2004

322829128 3			95,625.00		95,206.92			31-May-2005		8.500%		AL - 75.00%		Paid Off - 360		01-Nov-2004

322829433 2			245,000.00		243,362.71			27-May-2005		6.300%		CA - 74.24%		Paid Off - 360		01-Nov-2004

322829565 2			115,500.00		114,604.65			06-Jun-2005		7.175%		FL - 70.00%		Paid Off - 360		01-Oct-2004

322830019 3			472,000.00		466,497.77			19-May-2005		6.275%		CA - 80.00%		Paid Off - 360		01-Nov-2004

322831132 2			104,000.00		103,398.54			08-Jun-2005		7.050%		NM - 80.00%		Paid Off - 360		01-Nov-2004

322831280 2			96,000.00		95,410.03			17-May-2005		6.750%		CA - 68.57%		Paid Off - 360		01-Nov-2004

322831835 2			193,950.00		192,850.11			26-May-2005		7.150%		CA - 90.00%		Paid Off - 360		01-Nov-2004

322831959 2			99,000.00		98,527.94			01-Jun-2005		8.025%		DE - 75.00%		Paid Off - 360		01-Nov-2004

322832619 3			226,000.00		224,587.67			05-May-2005		6.650%		CA - 68.48%		Paid Off - 360		01-Nov-2004

322833203 2			125,000.00		124,282.29			10-May-2005		7.650%		MA - 45.29%		Paid Off - 360		01-Nov-2004

322833369 2			222,000.00		220,369.31			01-Jun-2005		5.800%		NY - 79.29%		Paid Off - 360		01-Nov-2004

322833732 2			129,600.00		128,691.84			12-May-2005		6.050%		FL - 80.00%		Paid Off - 360		01-Nov-2004

322834268 2			213,300.00		213,300.00			01-Jun-2005		6.950%		MN - 90.00%		Paid Off - 360		01-Nov-2004

322834409 2			306,000.00		304,530.73			03-Jun-2005		7.990%		NY - 90.00%		Paid Off - 360		01-Nov-2004

322834458 2			256,000.00		254,533.97			13-May-2005		7.100%		CA - 80.00%		Paid Off - 360		01-Nov-2004

322835521 2			152,000.00		151,050.59			23-May-2005		6.950%		MN - 80.00%		Paid Off - 360		01-Nov-2004

322835679 3			153,600.00		152,699.61			14-Jun-2005		8.550%		CA - 80.00%		Paid Off - 360		01-Nov-2004

322835836 2			83,000.00		82,474.15			20-May-2005		6.600%		CA - 21.28%		Paid Off - 360		01-Nov-2004

322835992 2			224,100.00		223,875.49			23-May-2005		6.700%		MA - 89.68%		Paid Off - 360		01-Nov-2004

322836008 3			360,000.00		360,000.00			10-Jun-2005		7.000%		CA - 80.00%		Paid Off - 360		01-Nov-2004

322836644 3			50,000.00		49,757.93			09-Jun-2005		7.950%		MI - 64.52%		Paid Off - 360		01-Nov-2004

322837246 2			117,000.00		116,398.75			02-Jun-2005		7.650%		CA - 90.00%		Paid Off - 360		01-Nov-2004

322837295 3			335,000.00		333,005.36			07-Jun-2005		6.900%		CA - 88.16%		Paid Off - 360		01-Nov-2004

322837469 2			315,000.00		313,221.01			01-Jun-2005		7.200%		CA - 87.50%		Paid Off - 360		01-Nov-2004

322837790 3			134,400.00		133,451.21			31-May-2005		6.250%		OR - 80.00%		Paid Off - 360		01-Nov-2004

322838301 3			202,500.00		201,529.59			05-May-2005		8.000%		NM - 90.00%		Paid Off - 360		01-Nov-2004




Page 28 of 36
Morgan Stanley ABS Capital I Inc. 2005-HE1

Mortgage Pass-Through Certificates

2005-HE1

June 27, 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

322838426 3			244,000.00		242,257.60			17-May-2005		5.950%		MI - 78.71%		Paid Off - 360		01-Nov-2004


322838954 2			239,400.00		239,400.00			27-May-2005		5.990%		CA - 90.00%		Paid Off - 360		01-Nov-2004

322839317 3			136,000.00		135,462.62			12-May-2005		8.950%		PA - 80.00%		Paid Off - 360		01-Nov-2004

322839440 2			81,900.00		81,517.25			24-May-2005		8.125%		MO - 90.00%		Paid Off - 360		01-Nov-2004

322840737 2			191,250.00		190,175.17			11-May-2005		7.200%		PA - 85.00%		Paid Off - 360		01-Nov-2004

322841271 2			163,000.00		161,686.06			02-Jun-2005		5.300%		CA - 63.42%		Paid Off - 360		01-Nov-2004

322841537 2			247,500.00		245,586.31			10-Jun-2005		5.525%		CA - 70.31%		Paid Off - 360		01-Nov-2004

322841586 2			153,000.00		152,337.22			31-May-2005		8.500%		FL - 85.00%		Paid Off - 360		01-Nov-2004

322841669 2			137,000.00		137,000.00			31-May-2005		5.990%		CA - 58.05%		Paid Off - 360		01-Nov-2004

322841719 2			176,000.00		174,941.39			01-Jun-2005		7.500%		FL - 62.86%		Paid Off - 360		01-Nov-2004

322841834 2			170,400.00		169,046.72			03-Jun-2005		5.500%		MA - 80.00%		Paid Off - 360		01-Nov-2004

322841941 3			371,113.00		368,969.59			26-May-2005		7.750%		CA - 95.00%		Paid Off - 360		01-Oct-2004

322842030 2			35,217.00		34,865.35			14-Jun-2005		10.650%		NY - 15.00%		Paid Off - 240		01-Oct-2004

322842048 2			26,000.00		25,747.18			13-Jun-2005		11.800%		FL - 19.99%		Paid Off - 240		01-Sep-2004

322842105 2			158,000.00		157,031.49			13-May-2005		6.750%		CA - 39.50%		Paid Off - 360		01-Oct-2004

322842766 2			152,000.00		151,195.36			10-Jun-2005		7.500%		FL - 95.00%		Paid Off - 360		01-Nov-2004

322843608 2			106,000.00		105,507.10			18-May-2005		8.150%		NJ - 81.54%		Paid Off - 360		01-Nov-2004

322843756 2			144,000.00		143,218.86			07-Jun-2005		7.388%		NV - 91.14%		Paid Off - 360		01-Nov-2004

322843889 3			150,000.00		149,325.68			02-Jun-2005		8.990%		CA - 56.60%		Paid Off - 360		01-Oct-2004

322845009 3			116,000.00		115,497.51			24-May-2005		8.500%		CA - 79.45%		Paid Off - 360		01-Nov-2004

322845462 2			117,000.00		116,301.53			02-Jun-2005		6.900%		CA - 52.00%		Paid Off - 360		01-Nov-2004

322846163 3			378,000.00		376,112.15			13-Jun-2005		7.875%		IL - 90.00%		Paid Off - 360		01-Nov-2004

322846213 2			155,805.00		154,955.42			31-May-2005		7.350%		CA - 79.90%		Paid Off - 360		01-Nov-2004

322846403 2			148,750.00		147,985.26			17-May-2005		7.650%		CA - 82.64%		Paid Off - 360		01-Nov-2004

322846445 3			136,500.00		136,092.07			24-May-2005		10.825%		AZ - 70.00%		Paid Off - 360		01-Nov-2004

322846585 3			388,000.00		386,336.22			31-May-2005		8.550%		HI - 80.00%		Paid Off - 360		01-Nov-2004

322846700 3			112,000.00		111,548.26			05-May-2005		8.850%		FL - 70.00%		Paid Off - 360		01-Nov-2004

322847260 3			59,400.00		59,108.18			13-Jun-2005		7.900%		AZ - 90.00%		Paid Off - 360		01-Nov-2004

322847526 3			496,000.00		493,716.87			16-May-2005		8.200%		VA - 80.00%		Paid Off - 360		01-Nov-2004

322848151 2			172,500.00		171,622.36			10-Jun-2005		7.700%		OR - 84.98%		Paid Off - 360		01-Nov-2004

322848383 3			258,300.00		256,786.69			02-Jun-2005		6.990%		SC - 90.00%		Paid Off - 360		01-Nov-2004

322848888 2			187,000.00		186,019.86			16-May-2005		7.550%		CA - 79.57%		Paid Off - 360		01-Nov-2004

322848896 2			50,100.00		48,922.48			17-May-2005		7.000%		MO - 30.09%		Paid Off - 180		01-Nov-2004

322849134 2			314,000.00		312,162.85			27-May-2005		6.990%		CA - 84.86%		Paid Off - 360		01-Nov-2004

322849373 2			260,000.00		258,259.16			17-May-2005		6.290%		NV - 80.00%		Paid Off - 360		01-Nov-2004

322849746 3			256,000.00		254,632.54			02-Jun-2005		6.650%		NJ - 80.00%		Paid Off - 360		01-Dec-2004

322849951 2			60,000.00		59,174.84			19-May-2005		8.150%		NV - 75.00%		Paid Off - 360		01-Nov-2004

322850231 2			27,980.00		27,727.05			20-May-2005		10.350%		IL - 20.00%		Paid Off - 240		01-Nov-2004




Page 29 of 36
Morgan Stanley ABS Capital I Inc. 2005-HE1

Mortgage Pass-Through Certificates

2005-HE1

June 27, 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

322850702 2			197,000.00		195,967.42			26-May-2005		7.550%		CA - 48.05%		Paid Off - 360		01-Nov-2004


322850876 2			312,000.00		312,000.00			13-Jun-2005		6.550%		VA - 80.00%		Paid Off - 360		01-Nov-2004

322851551 2			58,000.00		57,710.53			25-May-2005		7.000%		MA - 17.06%		Paid Off - 360		01-Nov-2004

322816471 2			332,000.00		331,999.96			01-Jan-1900		6.650%		CA - 80.00%		Repur/Subs - 360		01-Nov-2004

322826454 3			348,000.00		348,000.00			01-Jan-1900		5.990%		CA - 80.00%		Repur/Subs - 360		01-Nov-2004



TOTAL			58,597,969.00		58,264,763.30



Page 30 of 36
Morgan Stanley ABS Capital I Inc. 2005-HE1

Mortgage Pass-Through Certificates

2005-HE1

June 27, 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 31 of 36
Morgan Stanley ABS Capital I Inc. 2005-HE1

Mortgage Pass-Through Certificates

2005-HE1

June 27, 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 32 of 36
Morgan Stanley ABS Capital I Inc. 2005-HE1

Mortgage Pass-Through Certificates

2005-HE1

June 27, 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 33 of 36
Morgan Stanley ABS Capital I Inc. 2005-HE1

Mortgage Pass-Through Certificates

2005-HE1

June 27, 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 34 of 36
Morgan Stanley ABS Capital I Inc. 2005-HE1

Mortgage Pass-Through Certificates

2005-HE1

June 27, 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								46,095,680.35
						Ending Balance								1,500,200,437.27
						Prior period Senior Enhancement Percentage								20.0486%



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 35 of 36
Morgan Stanley ABS Capital I Inc. 2005-HE1

Mortgage Pass-Through Certificates

2005-HE1

June 27, 2005 Distribution
Other Related Information
ADDITIONAL INFORMATION

								Group 3		Group 2		Group 1		Total
Current Scheduled Payments								2,919,020.56		4,795,379.58		2,907,137.11		10,621,537.25
Current Scheduled Payments 1 Month Prior								3,029,527.91		4,938,129.84		2,991,901.79		10,959,559.55
Current Scheduled Payments 2 Month Prior								3,126,331.24		5,056,642.44		3,074,054.44		11,257,028.13
Current Scheduled Payments 3 Month Prior								3,202,018.37		5,149,477.11		3,131,712.53		11,483,208.01
Current Scheduled Payments 4 Month Prior								3,269,417.03		5,225,615.85		3,174,719.69		11,669,752.57
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								36,713.03		95,237.56		51,888.50		183,839.09
Sched. Pmts - 60+Day Delinquent Loans, 1 Month Prior								24,322.46		74,474.45		34,987.63		133,784.54
Sched. Pmts - 60+Day Delinquent Loans, 2 Month Prior								31,799.88		45,559.79		13,002.65		90,362.32
Sched. Pmts - 60+Day Delinquent Loans, 3 Month Prior								18,484.15		17,839.00		0.00		36,323.15
Sched. Pmts - 60+Day Delinquent Loans, 4 Month Prior								1,704.65		2,001.75		0.00		3,706.40
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 36 of 36

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