

                                    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): July 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
     July 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:  Jul 25, 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
              July 25, 2005.



Morgan Stanley ABS Capital I Inc. 2005-HE1

Mortgage Pass-Through Certificates

2005-HE1

July 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					32
										11. Realized Loss Detail Report					35
				Servicer(s)
										12. Triggers and Adj. Cert. Report					36
				Chase Securities, Inc
										13. Other Related Information					37
				HomeQ Servicing Corp.



				Underwriter(s)
				Morgan Stanley & Co. Inc


										Total Number of Pages					37


				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:			July 25, 2005
										Factor Information:			(800) 735-7777
				Record Date:			June 30, 2005
										Main Phone Number:			(714) 247-6000

							July 22, 2005


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

				Note: Although Countrywide has revised the May and June distribution
				delinquency data,the statements will not be revised.




Page 1 of 37
Morgan Stanley ABS Capital I Inc. 2005-HE1

Mortgage Pass-Through Certificates

2005-HE1

July 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		287,693,052.47		814,911.67		17,654,196.14		18,469,107.81		0.00		0.00		270,038,856.33

A-1MZ	FLT, SR	$	37,200,000.00		31,966,372.13		90,112.00		1,961,606.65		2,051,718.65		0.00		0.00		30,004,765.48
A-2SS	FLT, SR	$	503,344,000.00		432,417,341.65		1,205,515.17		20,742,963.65		21,948,478.82		0.00		0.00		411,674,378.00
A-2MZ	FLT, SR	$	125,837,000.00		108,105,194.52		303,903.64		5,185,782.13		5,489,685.77		0.00		0.00		102,919,412.39
A-3A	FLT, SR	$	155,611,000.00		90,583,015.92		242,668.48		18,417,147.62		18,659,816.10		0.00		0.00		72,165,868.30
A-3B	FLT, SR	$	164,000,000.00		164,000,000.00		450,829.80		0.00		450,829.80		0.00		0.00		164,000,000.00
A-3C	FLT, SR	$	40,000,000.00		40,000,000.00		114,314.04		0.00		114,314.04		0.00		0.00		40,000,000.00
A-3MZ	FLT, SR	$	39,957,000.00		32,731,628.26		92,778.38		2,046,361.12		2,139,139.50		0.00		0.00		30,685,267.14
M-1	MEZ, FLT	$	53,117,000.00		53,117,000.00		155,518.67		0.00		155,518.67		0.00		0.00		53,117,000.00
M-2	MEZ, FLT	$	49,690,000.00		49,690,000.00		146,257.88		0.00		146,257.88		0.00		0.00		49,690,000.00
M-3	MEZ, FLT	$	34,268,000.00		34,268,000.00		102,197.30		0.00		102,197.30		0.00		0.00		34,268,000.00
M-4	MEZ, FLT	$	29,129,000.00		29,129,000.00		91,402.47		0.00		91,402.47		0.00		0.00		29,129,000.00
M-5	MEZ, FLT	$	25,702,000.00		25,702,000.00		81,648.57		0.00		81,648.57		0.00		0.00		25,702,000.00
M-6	MEZ, FLT	$	21,418,000.00		21,418,000.00		69,705.26		0.00		69,705.26		0.00		0.00		21,418,000.00
B-1	MEZ, FLT	$	20,561,000.00		20,561,000.00		74,592.25		0.00		74,592.25		0.00		0.00		20,561,000.00
B-2	MEZ, FLT	$	14,565,000.00		14,565,000.00		54,199.05		0.00		54,199.05		0.00		0.00		14,565,000.00
B-3	MEZ, FLT	$	17,134,000.00		17,134,000.00		75,486.05		0.00		75,486.05		0.00		0.00		17,134,000.00
X	EXE	$	47,120,448.00		47,119,832.32		4,245,743.84		0.00		4,245,743.84		0.00		0.00		47,119,832.32
P	SUB	$	0.00		0.00		1,257,128.09		0.00		1,257,128.09		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		1,500,200,437.27		9,668,912.61		66,008,057.31		75,676,969.92		0.00		0.00		1,434,192,379.96






Page 2 of 37
Morgan Stanley ABS Capital I Inc. 2005-HE1

Mortgage Pass-Through Certificates

2005-HE1

July 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	06/27/05		07/24/05		A-Act/360		61744CKX3		334,795,000.00		859.311078		2.434062		52.731361		55.165423	806.579717
A-1MZ	06/27/05		07/24/05		A-Act/360		61744CKG0		37,200,000.00		859.311079		2.422366		52.731362		55.153727	806.579717
A-2SS	06/27/05		07/24/05		A-Act/360		61744CKY1		503,344,000.00		859.089095		2.395012		41.210313		43.605325	817.878783
A-2MZ	06/27/05		07/24/05		A-Act/360		61744CKH8		125,837,000.00		859.089096		2.415058		41.210313		43.625371	817.878783
A-3A	06/27/05		07/24/05		A-Act/360		61744CKJ4		155,611,000.00		582.111907		1.559456		118.353764		119.913220	463.758142
A-3B	06/27/05		07/24/05		A-Act/360		61744CKK1		164,000,000.00		1,000.000000		2.748962		0.000000		2.748962	1,000.000000
A-3C	06/27/05		07/24/05		A-Act/360		61744CKL9		40,000,000.00		1,000.000000		2.857851		0.000000		2.857851	1,000.000000
A-3MZ	06/27/05		07/24/05		A-Act/360		61744CKM7		39,957,000.00		819.171316		2.321956		51.214083		53.536039	767.957233
M-1	06/27/05		07/24/05		A-Act/360		61744CKN5		53,117,000.00		1,000.000000		2.927851		0.000000		2.927851	1,000.000000
M-2	06/27/05		07/24/05		A-Act/360		61744CKP0		49,690,000.00		1,000.000000		2.943407		0.000000		2.943407	1,000.000000
M-3	06/27/05		07/24/05		A-Act/360		61744CKQ8		34,268,000.00		1,000.000000		2.982295		0.000000		2.982295	1,000.000000
M-4	06/27/05		07/24/05		A-Act/360		61744CKR6		29,129,000.00		1,000.000000		3.137851		0.000000		3.137851	1,000.000000
M-5	06/27/05		07/24/05		A-Act/360		61744CKS4		25,702,000.00		1,000.000000		3.176740		0.000000		3.176740	1,000.000000
M-6	06/27/05		07/24/05		A-Act/360		61744CKT2		21,418,000.00		1,000.000000		3.254518		0.000000		3.254518	1,000.000000
B-1	06/27/05		07/24/05		A-Act/360		61744CKU9		20,561,000.00		1,000.000000		3.627851		0.000000		3.627851	1,000.000000
B-2	06/27/05		07/24/05		A-Act/360		61744CKV7		14,565,000.00		1,000.000000		3.721184		0.000000		3.721184	1,000.000000
B-3	06/27/05		07/24/05		A-Act/360		61744CKW5		17,134,000.00		1,000.000000		4.405629		0.000000		4.405629	1,000.000000
X	06/25/05		07/24/05		A-30/360				47,120,448.00		999.986934		90.104064		0.000000		90.104064	999.986934
P	06/25/05		07/24/05		A-30/360				0.00		0.000000		0.000000		0.000000		0.000000	0.000000
R	06/25/05		07/24/05		A-30/360				0.00		0.000000		0.000000		0.000000		0.000000	0.000000




Page 3 of 37
Morgan Stanley ABS Capital I Inc. 2005-HE1

Mortgage Pass-Through Certificates

2005-HE1

July 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		5,069,514.76		63,087,157.43		1,669,010.90		64,756,168.33		69,825,683.09		0.00		0.00		270,038,856.33
A-1MZ	37,200,000.00		560,233.07		7,009,788.83		185,448.42		7,195,237.26		7,755,470.33		0.00		0.00		30,004,765.48
A-2SS	503,344,000.00		7,485,875.36		89,253,110.48		2,416,517.92		91,669,628.40		99,155,503.76		0.00		0.00		411,674,378.00
A-2MZ	125,837,000.00		1,889,197.21		22,313,454.93		604,134.28		22,917,589.21		24,806,786.42		0.00		0.00		102,919,412.39
A-3A	155,611,000.00		1,896,087.20		81,209,794.34		2,235,305.50		83,445,099.84		85,341,187.04		0.00		0.00		72,165,868.30
A-3B	164,000,000.00		2,568,668.39		0.00		0.00		0.00		2,568,668.39		0.00		0.00		164,000,000.00
A-3C	40,000,000.00		654,504.49		0.00		0.00		0.00		654,504.49		0.00		0.00		40,000,000.00
A-3MZ	39,957,000.00		592,217.67		9,023,360.66		248,368.66		9,271,729.32		9,863,946.99		0.00		0.00		30,685,267.14
M-1	53,117,000.00		893,035.54		0.00		0.00		0.00		893,035.54		0.00		0.00		53,117,000.00
M-2	49,690,000.00		840,387.70		0.00		0.00		0.00		840,387.70		0.00		0.00		49,690,000.00
M-3	34,268,000.00		588,128.39		0.00		0.00		0.00		588,128.39		0.00		0.00		34,268,000.00
M-4	29,129,000.00		529,058.73		0.00		0.00		0.00		529,058.73		0.00		0.00		29,129,000.00
M-5	25,702,000.00		473,240.96		0.00		0.00		0.00		473,240.96		0.00		0.00		25,702,000.00
M-6	21,418,000.00		405,070.32		0.00		0.00		0.00		405,070.32		0.00		0.00		21,418,000.00
B-1	20,561,000.00		438,208.63		0.00		0.00		0.00		438,208.63		0.00		0.00		20,561,000.00
B-2	14,565,000.00		319,157.20		0.00		0.00		0.00		319,157.20		0.00		0.00		14,565,000.00
B-3	17,134,000.00		450,840.30		0.00		0.00		0.00		450,840.30		0.00		0.00		17,134,000.00
X	47,120,448.00		29,098,169.93		578.90		27.54		615.68		29,098,785.61		9.24		9.24		47,119,832.32
P	0.00		4,844,016.63		0.00		0.00		0.00		4,844,016.63		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		59,595,612.48		271,897,245.57		7,358,813.22		279,256,068.04		338,851,680.52		9.24		9.24		1,434,192,379.96



Page 4 of 37
Morgan Stanley ABS Capital I Inc. 2005-HE1

Mortgage Pass-Through Certificates

2005-HE1

July 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	3.64188%		287,693,052.47		814,911.67		0.00		0.00		0.00		814,911.67		814,911.67		0.00
A-1MZ	3.62438%		31,966,372.13		90,112.00		0.00		0.00		0.00		90,112.00		90,112.00		0.00
A-2SS	3.58438%		432,417,341.65		1,205,515.17		0.00		0.00		0.00		1,205,515.17		1,205,515.17		0.00
A-2MZ	3.61438%		108,105,194.52		303,903.64		0.00		0.00		0.00		303,903.64		303,903.64		0.00
A-3A	3.44438%		90,583,015.92		242,668.48		0.00		0.00		0.00		242,668.48		242,668.48		0.00
A-3B	3.53438%		164,000,000.00		450,829.80		0.00		0.00		0.00		450,829.80		450,829.80		0.00
A-3C	3.67438%		40,000,000.00		114,314.04		0.00		0.00		0.00		114,314.04		114,314.04		0.00
A-3MZ	3.64438%		32,731,628.26		92,778.38		0.00		0.00		0.00		92,778.38		92,778.38		0.00
M-1	3.76438%		53,117,000.00		155,518.67		0.00		0.00		0.00		155,518.67		155,518.67		0.00
M-2	3.78438%		49,690,000.00		146,257.88		0.00		0.00		0.00		146,257.88		146,257.88		0.00
M-3	3.83438%		34,268,000.00		102,197.30		0.00		0.00		0.00		102,197.30		102,197.30		0.00
M-4	4.03438%		29,129,000.00		91,402.47		0.00		0.00		0.00		91,402.47		91,402.47		0.00
M-5	4.08438%		25,702,000.00		81,648.57		0.00		0.00		0.00		81,648.57		81,648.57		0.00
M-6	4.18438%		21,418,000.00		69,705.26		0.00		0.00		0.00		69,705.26		69,705.26		0.00
B-1	4.66438%		20,561,000.00		74,592.25		0.00		0.00		0.00		74,592.25		74,592.25		0.00
B-2	4.78438%		14,565,000.00		54,199.05		0.00		0.00		0.00		54,199.05		54,199.05		0.00
B-3	5.66438%		17,134,000.00		75,486.05		0.00		0.00		0.00		75,486.05		75,486.05		0.00
X	108.12629%		47,119,832.32		0.00		0.00		0.00		0.00		0.00		4,245,743.84		0.00
P	0.00000%		0.00		0.00		0.00		0.00		0.00		0.00		1,257,128.09		0.00
R	0.00000%		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00


Total			1,500,200,437.27		4,166,040.68		0.00		0.00		0.00		4,166,040.68		9,668,912.61		0.00



Page 5 of 37
Morgan Stanley ABS Capital I Inc. 2005-HE1

Mortgage Pass-Through Certificates

2005-HE1

July 25, 2005 Distribution
Collection Account Report
SUMMARY

								Group 3		Group 2		Group 1		Total
Principal Collections								20,453,456.64		25,916,009.04		19,606,167.10		65,975,632.78
Principal Withrawals								0.00		0.00		0.00		0.00
Principal Other Accounts								0.00		0.00		0.00		0.00
TOTAL NET PRINCIPAL								20,453,456.64		25,916,009.04		19,606,167.10		65,975,632.78
Interest Collections								2,337,620.36		3,904,458.91		2,327,135.14		8,569,214.41
Interest Withdrawals								-0.00		-0.00		-0.00		-0.00
Interest Other Accounts								0.00		0.00		0.00		1,257,128.09
Interest Fees								-32,416.06		-66,780.64		-25,808.66		-125,005.36
TOTAL NET INTEREST								2,305,204.30		3,837,678.27		2,301,326.48		9,701,337.14
TOTAL AVAILABLE FUNDS FOR DISTRIBUTION								22,758,660.94		29,753,687.31		21,907,493.58		75,676,969.92



PRINCIPAL - COLLECTIONS

									Group 3		Group 2		Group 1		Total
Scheduled Principal Received									303,652.46		507,048.11		334,677.03		1,145,377.60
Prepayments In Full									20,141,451.77		24,966,701.69		19,205,854.12		64,314,007.58
Curtailments									8,352.41		25,003.76		65,635.95		98,992.12
Liquidations									0.00		449,680.01		0.00		449,680.01
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		-32,424.53		-0.00		-32,424.53
Delinquent Principal									-259,903.83		-394,543.92		-298,266.34		-952,714.09
Advanced Principal									259,903.83		394,543.92		298,266.34		952,714.09
TOTAL PRINCIPAL COLLECTED									20,453,456.64		25,916,009.04		19,606,167.10		65,975,632.78


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 37
Morgan Stanley ABS Capital I Inc. 2005-HE1

Mortgage Pass-Through Certificates

2005-HE1

July 25, 2005 Distribution

INTEREST - COLLECTIONS

								Group 3		Group 2		Group 1		Total
Scheduled Interest								2,479,689.24		4,119,858.44		2,470,025.98		9,069,573.66
Liquidation Interest								0.00		3,094.36		0.00		3,094.36
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								-35,731.50		-36,015.50		-59,565.46		-131,312.46
Compensating Interest								35,731.50		36,015.50		59,565.46		131,312.45
Delinquent Interest								-2,036,344.91		-3,182,470.09		-2,103,266.36		-7,322,081.36
Interest Advanced								1,894,276.04		2,963,976.22		1,960,375.52		6,818,627.78
TOTAL INTEREST COLLECTED								2,337,620.36		3,904,458.91		2,327,135.14		8,569,214.41


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														1,257,128.09
TOTAL INTEREST OTHER ACCOUNTS								0.00		0.00		0.00		1,257,128.09



INTEREST - FEES

								Group 3		Group 2		Group 1		Total
Current Servicing Fees								31,478.91		33,364.36		14,895.82		121,629.91
Current Trustee Fees								624.77		661.85		314.44		2,250.30
Current Custodian Fees								312.39		330.92		157.22		1,125.15
TOTAL INTEREST OTHER FEES								32,416.06		66,780.64		25,808.66		125,005.36




Page 7 of 37
Morgan Stanley ABS Capital I Inc. 2005-HE1

Mortgage Pass-Through Certificates

2005-HE1

July 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														32,424.53
Overcollateralization Release Amount														0.00




Page 8 of 37
Morgan Stanley ABS Capital I Inc. 2005-HE1

Mortgage Pass-Through Certificates

2005-HE1

July 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								1,826		4,720		2,745		9,291
Prefunding								0		0		0		0
Scheduled Paid Offs								-0		-1		-0		-1
Full Voluntary Prepayments								-73		-149		-119		-341
Repurchases								-0		-0		-0		-0
Liquidations								-0		-4		-0		-4
Current								1,753		4,566		2,626		8,945
Principal Balance:


Original								488,767,620.24		769,640,075.49		455,039,626.95		1,713,447,322.68
Prior								416,514,683.42		680,981,544.27		402,704,209.58		1,500,200,437.27
Prefunding								0.00		0.00		0.00		0.00
Scheduled Principal								-303,652.46		-507,048.11		-334,677.03		-1,145,377.60
Partial Prepayments								-8,352.41		-25,003.76		-65,635.95		-98,992.12
Full Voluntary Prepayments								-20,141,451.77		-24,966,701.69		-19,205,854.12		-64,314,007.58
Repurchases								-0.00		-0.00		-0.00		-0.00
Liquidations								-0.00		-449,680.01		-0.00		-449,680.01
Current								396,061,226.78		655,033,110.70		383,098,042.48		1,434,192,379.96





PREFUNDING

SPACE INTENTIONALLY LEFT BLANK






Page 9 of 37
Morgan Stanley ABS Capital I Inc. 2005-HE1

Mortgage Pass-Through Certificates

2005-HE1

July 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								7.15401%		7.26440%		7.36695%		7.26092%
Weighted Average Coupon Current								7.14411%		7.26531%		7.36032%		7.25716%
Weighted Average Months to Maturity Original								352		351		351		351
Weighted Average Months to Maturity Prior								348		346		346		347
Weighted Average Months to Maturity Current								347		345		345		346
Weighted Avg Remaining Amortization Term Original								352		351		351		351
Weighted Avg Remaining Amortization Term Prior								348		346		346		347
Weighted Avg Remaining Amortization Term Current								347		345		345		346
Weighted Average Seasoning Original								4.64		4.35		5.20		4.66
Weighted Average Seasoning Prior								8.70		8.52		9.20		8.75
Weighted Average Seasoning Current								9.71		9.51		10.20		9.75









Page 10 of 37
Morgan Stanley ABS Capital I Inc. 2005-HE1

Mortgage Pass-Through Certificates

2005-HE1

July 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								5.67591%		6.04065%		5.69210%		5.85083%
Weighted Average Margin Current								5.67162%		6.03784%		5.69327%		5.84921%
Weighted Average Max Rate Original								13.70298%		13.92959%		13.43665%		13.73937%
Weighted Average Max Rate Prior								13.67854%		13.90670%		13.41476%		13.71686%
Weighted Average Max Rate Current								13.65928%		13.90894%		13.41165%		13.71190%
Weighted Average Min Rate Original								7.12363%		7.24822%		7.42933%		7.26008%
Weighted Average Min Rate Prior								7.10599%		7.23006%		7.40839%		7.24256%
Weighted Average Min Rate Current								7.09069%		7.23195%		7.40504%		7.23901%
Weighted Average Cap Up Original								1.30346%		1.34515%		1.00358%		1.24554%
Weighted Average Cap Up Prior								1.29864%		1.34240%		1.00310%		1.24241%
Weighted Average Cap Up Current								1.29733%		1.34274%		1.00321%		1.24193%
Weighted Average Cap Down Original								1.30346%		1.34515%		1.00358%		1.24554%
Weighted Average Cap Down Prior								1.29864%		1.34240%		1.00310%		1.24241%
Weighted Average Cap Down Current								1.29733%		1.34274%		1.00321%		1.24193%




SERVICING FEES & ADVANCES

									Group 3		Group 2		Group 1		Total




Current Servicing Fees								31,478.91		33,364.36		14,895.82		121,629.91
Delinquent Servicing Fees								142,068.88		218,493.88		142,890.85		503,453.61
TOTAL SERVICING FEES								173,547.79		283,742.32		167,793.43		625,083.54


Compensating Interest								-35,731.50		-36,015.50		-59,565.46		-131,312.45
Delinquent Servicing Fees								-142,068.88		-218,493.88		-142,890.85		-503,453.61
COLLECTED SERVICING FEES								-4,252.59		29,232.95		-34,662.88		-9,682.52


Aggregate Advances with respect to this Distribution								570,111.30		725,014.14		582,775.42		1,307,789.56





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														3.3144%




Page 11 of 37
Morgan Stanley ABS Capital I Inc. 2005-HE1

Mortgage Pass-Through Certificates

2005-HE1

July 25, 2005 Distribution
Delinquency Report

	TOTAL
					< 1 PAYMENT		1 PAYMENT		2 PAYMENTS		3+ PAYMENTS		TOTAL
	DELINQUENT		Balance				29,448,904.55		5,183,621.42		3,277,178.35		37,909,704.32
			% Balance				2.05%		0.36%		0.23%		2.64%
			# Loans				193		35		20		248
			% # Loans				2.16%		0.39%		0.22%		2.77%
	FORECLOSURE		Balance		311,672.40		82,192.54		3,398,132.66		8,956,024.78		12,748,022.38
			% Balance		0.02%		0.01%		0.24%		0.62%		0.89%
			# Loans		3		1		24		67		95
			% # Loans		0.03%		0.01%		0.27%		0.75%		1.06%
	BANKRUPTCY		Balance		4,116,229.15		1,243,183.39		592,294.98		1,426,682.75		7,378,390.27
			% Balance		0.29%		0.09%		0.04%		0.10%		0.51%
			# Loans		31		8		5		9		53
			% # Loans		0.35%		0.09%		0.06%		0.10%		0.59%
	REO		Balance		0.00		0.00		0.00		1,290,911.43		1,290,911.43
			% Balance		0.00%		0.00%		0.00%		0.09%		0.09%
			# Loans		0		0		0		9		9
			% # Loans		0.00%		0.00%		0.00%		0.10%		0.10%
	TOTAL		Balance		4,427,901.55		30,774,280.48		9,174,049.06		14,950,797.31		59,327,028.40
			% Balance		0.31%		2.15%		0.64%		1.04%		4.14%
			# Loans		34		202		64		105		405
			% # Loans		0.38%		2.26%		0.72%		1.17%		4.53%









Page 12 of 37
Morgan Stanley ABS Capital I Inc. 2005-HE1

Mortgage Pass-Through Certificates

2005-HE1

July 25, 2005 Distribution


	GROUP 1
					< 1 PAYMENT		1 PAYMENT		2 PAYMENTS		3+ PAYMENTS		TOTAL
	DELINQUENT		Balance				6,359,131.89		1,524,590.02		1,370,572.59		9,254,294.50
			% Balance				1.66%		0.40%		0.36%		2.42%
			# Loans				40		11		7		58
			% # Loans				1.52%		0.42%		0.27%		2.21%
	FORECLOSURE		Balance		0.00		0.00		866,274.20		3,275,205.38		4,141,479.58
			% Balance		0.00%		0.00%		0.23%		0.85%		1.08%
			# Loans		0		0		6		24		30
			% # Loans		0.00%		0.00%		0.23%		0.91%		1.14%
	BANKRUPTCY		Balance		957,376.99		341,658.09		251,469.40		476,341.71		2,026,846.19
			% Balance		0.25%		0.09%		0.07%		0.12%		0.53%
			# Loans		8		2		2		3		15
			% # Loans		0.30%		0.08%		0.08%		0.11%		0.57%
	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		957,376.99		6,700,789.98		2,642,333.62		5,122,119.68		15,422,620.27
			% Balance		0.25%		1.75%		0.69%		1.34%		4.03%
			# Loans		8		42		19		34		103
			% # Loans		0.30%		1.60%		0.72%		1.29%		3.92%










Page 13 of 37
Morgan Stanley ABS Capital I Inc. 2005-HE1

Mortgage Pass-Through Certificates

2005-HE1

July 25, 2005 Distribution

	GROUP 2
					< 1 PAYMENT		1 PAYMENT		2 PAYMENTS		3+ PAYMENTS		TOTAL
	DELINQUENT		Balance				14,684,871.64		2,306,152.98		1,725,498.98		18,716,523.60
			% Balance				2.24%		0.35%		0.26%		2.86%
			# Loans				108		16		11		135
			% # Loans				2.37%		0.35%		0.24%		2.96%
	FORECLOSURE		Balance		311,672.40		82,192.54		1,217,841.69		3,523,518.22		5,135,224.85
			% Balance		0.05%		0.01%		0.19%		0.54%		0.78%
			# Loans		3		1		10		30		44
			% # Loans		0.07%		0.02%		0.22%		0.66%		0.96%
	BANKRUPTCY		Balance		2,497,603.57		850,780.60		197,483.87		298,036.58		3,843,904.62
			% Balance		0.38%		0.13%		0.03%		0.05%		0.59%
			# Loans		17		5		2		2		26
			% # Loans		0.37%		0.11%		0.04%		0.04%		0.57%
	REO		Balance		0.00		0.00		0.00		1,101,100.20		1,101,100.20
			% Balance		0.00%		0.00%		0.00%		0.17%		0.17%
			# Loans		0		0		0		7		7
			% # Loans		0.00%		0.00%		0.00%		0.15%		0.15%
	TOTAL		Balance		2,809,275.97		15,617,844.78		3,721,478.54		6,648,153.98		28,796,753.27
			% Balance		0.43%		2.38%		0.57%		1.01%		4.40%
			# Loans		20		114		28		50		212
			% # Loans		0.44%		2.50%		0.61%		1.10%		4.64%










Page 14 of 37
Morgan Stanley ABS Capital I Inc. 2005-HE1

Mortgage Pass-Through Certificates

2005-HE1

July 25, 2005 Distribution

	GROUP 3
					< 1 PAYMENT		1 PAYMENT		2 PAYMENTS		3+ PAYMENTS		TOTAL
	DELINQUENT		Balance				8,404,901.02		1,352,878.42		181,106.78		9,938,886.22
			% Balance				2.12%		0.34%		0.05%		2.51%
			# Loans				45		8		2		55
			% # Loans				2.57%		0.46%		0.11%		3.14%
	FORECLOSURE		Balance		0.00		0.00		1,314,016.77		2,157,301.18		3,471,317.95
			% Balance		0.00%		0.00%		0.33%		0.54%		0.88%
			# Loans		0		0		8		13		21
			% # Loans		0.00%		0.00%		0.46%		0.74%		1.20%
	BANKRUPTCY		Balance		661,248.59		50,744.70		143,341.71		652,304.46		1,507,639.46
			% Balance		0.17%		0.01%		0.04%		0.16%		0.38%
			# Loans		6		1		1		4		12
			% # Loans		0.34%		0.06%		0.06%		0.23%		0.68%
	REO		Balance		0.00		0.00		0.00		189,811.23		189,811.23
			% Balance		0.00%		0.00%		0.00%		0.05%		0.05%
			# Loans		0		0		0		2		2
			% # Loans		0.00%		0.00%		0.00%		0.11%		0.11%
	TOTAL		Balance		661,248.59		8,455,645.72		2,810,236.90		3,180,523.65		15,107,654.86
			% Balance		0.17%		2.13%		0.71%		0.80%		3.81%
			# Loans		6		46		17		21		90
			% # Loans		0.34%		2.62%		0.97%		1.20%		5.13%









Page 15 of 37
Morgan Stanley ABS Capital I Inc. 2005-HE1

Mortgage Pass-Through Certificates

2005-HE1

July 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
37851646 2
			152,000.00		150,589.17		01-Nov-2004		6.490%		CO - 80.00%		360		01-Oct-2004

37855086 2			85,000.00		84,683.95		01-Nov-2004		10.999%		MI - 85.00%		360		01-Oct-2004
38032774 2			218,400.00		216,749.09		01-Dec-2004		7.550%		RI - 80.00%		360		01-Oct-2004
322814302 2			114,300.00		113,824.44		01-Jan-2005		9.950%		GA - 90.00%		360		01-Nov-2004
322829318 2			137,600.00		136,377.23		01-Jan-2005		6.150%		GA - 80.00%		360		01-Nov-2004
322829490 2			78,400.00		77,981.95		01-Nov-2004		8.750%		MI - 80.00%		360		01-Nov-2004
322843079 2			323,000.00		320,894.37		01-Dec-2004		7.750%		GA - 85.00%		360		01-Nov-2004
38032278 3			87,920.00		87,171.88		01-Dec-2004		6.950%		MN - 75.15%		360		01-Oct-2004
322847302 3			103,500.00		102,639.35		01-Nov-2004		6.500%		MI - 76.10%		360		01-Nov-2004


TOTAL			1,300,120.00		1,290,911.43


Page 16 of 37
Morgan Stanley ABS Capital I Inc. 2005-HE1

Mortgage Pass-Through Certificates

2005-HE1

July 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
13960224 1
			68,800.00		68,264.42		01-Feb-2005		7.900%		MI - 80.00%		360		01-Sep-2004

13963467 1			172,500.00		171,665.14		01-Jan-2005		9.750%		IL - 75.00%		360		01-Oct-2004
13967245 1			165,750.00		164,087.86		01-Feb-2005		7.990%		CA - 65.00%		360		01-Oct-2004
13978150 1			66,954.00		66,432.72		01-Feb-2005		7.900%		TX - 80.00%		360		01-Sep-2004
14000590 1			74,750.00		74,277.66		01-Jan-2005		8.450%		FL - 65.00%		360		01-Oct-2004
14009484 1			136,000.00		134,799.01		01-Jan-2005		6.750%		OH - 80.00%		360		01-Oct-2004
14043939 1			133,950.00		133,191.58		01-Feb-2005		8.990%		MD - 95.00%		360		01-Oct-2004
14061766 1			221,000.00		219,907.96		01-Jan-2005		9.650%		CT - 65.00%		360		01-Oct-2004
14081376 1			230,000.00		228,060.70		01-Feb-2005		6.990%		NY - 60.53%		360		01-Oct-2004
14084404 1			70,000.00		69,600.40		01-Feb-2005		8.950%		MI - 72.92%		360		01-Oct-2004
14107163 1			115,200.00		114,419.08		01-Mar-2005		8.100%		CT - 90.00%		360		01-Oct-2004
14109607 1			161,150.00		160,211.17		01-Jan-2005		8.850%		NJ - 74.99%		360		01-Oct-2004
14115943 1			113,050.00		112,161.29		01-Feb-2005		7.350%		WI - 85.00%		360		01-Oct-2004
14117824 1			101,610.00		101,014.49		01-Feb-2005		8.390%		IA - 90.00%		360		01-Nov-2004
14118004 1			286,300.00		284,157.05		01-Feb-2005		7.600%		NJ - 69.83%		360		01-Oct-2004
14118079 1			197,400.00		196,238.18		01-Mar-2005		8.800%		NH - 70.00%		360		01-Oct-2004
14120869 1			135,850.00		134,542.84		01-Mar-2005		6.300%		GA - 95.00%		360		01-Oct-2004
14121115 1			174,500.00		173,401.93		01-Jan-2005		8.490%		OH - 89.49%		360		01-Oct-2004
14140040 1			150,750.00		149,630.73		01-Feb-2005		7.650%		NC - 90.00%		360		01-Oct-2004
14151146 1			124,200.00		123,101.11		01-Mar-2005		6.740%		OH - 90.00%		360		01-Oct-2004
14152490 1			175,500.00		173,948.35		01-Mar-2005		6.750%		MA - 65.00%		360		01-Oct-2004
14153050 1			96,000.00		95,549.73		01-Jan-2005		9.900%		WI - 80.00%		360		01-Oct-2004
14153324 1			132,000.00		130,952.14		01-Jan-2005		7.300%		MA - 80.00%		360		01-Oct-2004
14155469 1			81,000.00		80,488.23		01-Jan-2005		8.450%		OH - 90.00%		360		01-Oct-2004
14158489 1			176,900.00		175,684.90		01-Feb-2005		8.400%		OH - 68.04%		360		01-Oct-2004
14158893 1			114,750.00		114,030.76		01-Jan-2005		8.490%		MA - 85.00%		360		01-Oct-2004
14167324 1			76,500.00		76,034.84		01-Jan-2005		8.640%		MI - 90.00%		360		01-Oct-2004
14179600 1			125,100.00		124,024.64		01-Mar-2005		6.890%		FL - 90.00%		360		01-Oct-2004
14198360 1			140,250.00		139,200.52		01-Jan-2005		8.100%		OR - 75.00%		360		01-Sep-2004
14199004 1			153,000.00		152,400.15		01-Jan-2005		10.750%		MO - 85.00%		360		01-Oct-2004
37853286 2			68,000.00		67,595.64		01-Feb-2005		8.750%		MS - 85.00%		360		01-Oct-2004
37855246 2			46,000.00		45,725.44		01-Jan-2005		9.250%		TX - 71.88%		360		01-Sep-2004
37856446 2			66,750.00		66,164.46		01-Dec-2004		6.799%		OK - 75.00%		360		01-Oct-2004
38029222 2			60,300.00		59,995.74		01-Nov-2004		9.550%		SC - 88.68%		360		01-Oct-2004
38029758 2			82,679.00		82,192.54		01-Apr-2005		8.850%		MO - 89.87%		360		01-Oct-2004
38030118 2			73,500.00		73,053.92		01-Jul-2005		8.650%		LA - 70.00%		360		01-Oct-2004
38031174 2			60,000.00		59,694.05		01-Feb-2005		9.500%		NC - 52.17%		360		01-Oct-2004
38033310 2			66,320.00		65,813.72		01-Mar-2005		7.500%		OH - 79.90%		360		01-Oct-2004
38033734 2			199,500.00		198,452.84		01-Dec-2004		8.840%		NJ - 70.00%		360		01-Nov-2004
38035767 2			84,500.00		83,221.26		01-Feb-2005		5.800%		MD - 66.54%		360		01-Jun-2004
38037591 2			58,500.00		58,066.39		01-Mar-2005		7.650%		OH - 90.00%		360		01-Oct-2004
38038319 2			168,000.00		166,413.81		01-Mar-2005		6.400%		RI - 70.00%		360		01-Oct-2004
38038687 2			59,000.00		58,562.99		01-Feb-2005		7.100%		IL - 56.19%		360		01-Nov-2004
38039015 2			104,400.00		100,904.72		01-Feb-2005		6.940%		PA - 90.00%		180		01-Oct-2004
38039615 2			68,000.00		67,618.48		01-Jun-2005		8.500%		MI - 80.00%		360		01-Nov-2004
38041143 2			87,577.00		86,811.88		01-Feb-2005		6.240%		TX - 79.26%		360		01-Nov-2004
38042872 2			268,000.00		265,868.26		01-Mar-2005		7.290%		ID - 80.00%		360		01-Oct-2004
322812082 2			39,000.00		38,316.23		01-Jan-2005		11.050%		CA - 20.00%		240		01-Oct-2004
322812330 2			125,399.00		125,398.37		01-Feb-2005		6.750%		TX - 80.00%		360		01-Oct-2004


Page 17 of 37
Morgan Stanley ABS Capital I Inc. 2005-HE1

Mortgage Pass-Through Certificates

2005-HE1

July 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
322813940 2
			86,400.00		85,728.24		01-Jan-2005		6.850%		MI - 80.00%		360		01-Nov-2004

322814427 2			280,500.00		278,482.33		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
322816547 2			142,000.00		141,258.12		01-Mar-2005		8.850%		NY - 100.00%		360		01-Nov-2004
322816877 2			172,000.00		170,675.63		01-Dec-2004		6.900%		CO - 80.00%		360		01-Nov-2004
322817958 2			131,200.00		130,365.65		01-Mar-2005		7.875%		HI - 80.00%		360		01-Nov-2004
322827239 2			114,660.00		113,966.36		01-Nov-2004		8.125%		ID - 90.00%		360		01-Nov-2004
322827601 2			169,600.00		168,379.99		01-Feb-2005		7.250%		GA - 80.00%		360		01-Nov-2004
322827809 2			94,500.00		93,874.76		01-Dec-2004		7.675%		TX - 70.00%		360		01-Nov-2004
322828534 2			125,800.00		125,118.94		01-Mar-2005		8.675%		TX - 85.00%		360		01-Nov-2004
322829524 2			193,000.00		191,754.21		01-Feb-2005		7.800%		KY - 88.13%		360		01-Nov-2004
322831199 2			111,600.00		110,934.92		01-Jan-2005		8.200%		CO - 80.00%		360		01-Nov-2004
322833807 2			115,472.00		114,632.44		01-Feb-2005		7.400%		NC - 80.00%		360		01-Nov-2004
322835257 2			134,100.00		133,420.63		01-Feb-2005		9.000%		MD - 74.50%		360		01-Nov-2004
322835299 2			126,000.00		125,293.15		01-Dec-2004		8.500%		MI - 90.00%		360		01-Nov-2004
322835919 2			171,000.00		171,000.00		01-Jun-2005		7.950%		MI - 90.00%		360		01-Nov-2004
322837592 2			76,800.00		76,176.52		01-Jan-2005		6.625%		TX - 80.00%		360		01-Nov-2004
322838525 2			108,750.00		108,058.42		01-Mar-2005		7.875%		IN - 75.00%		360		01-Nov-2004
322840968 2			108,000.00		107,106.21		01-Mar-2005		6.525%		MI - 80.00%		360		01-Nov-2004
322843590 2			50,000.00		49,772.17		01-Mar-2005		9.575%		SC - 45.45%		360		01-Nov-2004
322843632 2			133,000.00		132,014.88		01-Feb-2005		7.100%		MS - 94.73%		360		01-Nov-2004
322844622 2			248,200.00		246,652.87		01-Feb-2005		7.975%		NJ - 82.73%		360		01-Nov-2004
322844705 2			50,638.00		50,317.26		01-Feb-2005		10.050%		OH - 85.00%		360		01-Nov-2004
322845330 2			256,410.00		254,653.87		01-Feb-2005		7.500%		IL - 90.00%		360		01-Nov-2004
322848508 2			53,900.00		53,716.54		01-Jan-2005		11.700%		IN - 70.00%		360		01-Nov-2004
14039036 3			65,731.00		65,348.02		01-Jan-2005		8.850%		IN - 80.00%		360		01-Oct-2004
14131957 3			61,600.00		61,190.70		01-Jan-2005		8.200%		CO - 80.00%		360		01-Oct-2004
14142046 3			210,000.00		209,014.81		01-Feb-2005		10.200%		MA - 73.17%		360		01-Oct-2004
14147169 3			119,700.00		118,870.68		01-Jan-2005		7.990%		CT - 90.00%		360		01-Oct-2004
14157358 3			64,000.00		63,571.29		01-Mar-2005		8.350%		MA - 80.00%		360		01-Oct-2004
14157697 3			131,750.00		130,850.30		01-Mar-2005		8.240%		MA - 85.00%		360		01-Oct-2004
37852646 3			79,475.00		78,837.89		01-Feb-2005		7.250%		OK - 85.00%		360		01-Oct-2004
37854366 3			83,700.00		83,272.38		01-Feb-2005		9.490%		TN - 90.00%		360		01-Oct-2004
38030782 3			288,800.00		286,861.92		01-Mar-2005		8.150%		MN - 80.00%		360		01-Oct-2004
38036183 3			123,200.00		122,531.81		01-Mar-2005		9.200%		GA - 80.00%		360		01-Oct-2004
322813361 3			78,750.00		78,439.14		01-Mar-2005		10.200%		MI - 75.00%		360		01-Nov-2004
322819897 3			193,500.00		191,860.08		01-Mar-2005		6.400%		RI - 90.00%		360		01-Nov-2004
322820432 3			372,000.00		372,000.00		01-Jan-2005		8.000%		CA - 80.00%		360		01-Nov-2004
322827494 3			378,100.00		375,731.32		01-Feb-2005		7.950%		NY - 95.00%		360		01-Nov-2004
322828351 3			344,000.00		341,918.96		01-Mar-2005		8.125%		CA - 80.00%		360		01-Nov-2004
322830142 3			66,300.00		65,959.74		01-Nov-2004		8.950%		TX - 85.00%		360		01-Nov-2004
322834037 3			113,625.00		112,791.51		01-Feb-2005		7.150%		ME - 75.00%		360		01-Nov-2004
322845652 3			80,000.00		79,546.68		01-Nov-2004		8.450%		KS - 80.00%		360		01-Nov-2004
322845801 3			98,600.00		97,983.27		01-Mar-2005		8.500%		AZ - 85.00%		360		01-Oct-2004
322850454 3			463,250.00		460,369.98		01-Dec-2004		7.990%		CA - 85.00%		360		01-Nov-2004
322852104 3			74,800.00		74,367.47		01-Jan-2005		8.350%		SC - 85.00%		360		01-Nov-2004


TOTAL			12,832,550.00		12,748,022.38


Page 18 of 37
Morgan Stanley ABS Capital I Inc. 2005-HE1

Mortgage Pass-Through Certificates

2005-HE1

July 25, 2005 Distribution
Prepayment Report

VOLUNTARY PREPAYMENTS


									Group 3		Group 2		Group 1		Total




Current


Number of Paid in Full Loans								73		149		119		341
Number of Repurchased Loans								0		0		0		0
Total Number of Loans Prepaid in Full								73		149		119		341
Curtailments Amount								8,352.41		25,003.76		65,635.95		98,992.12
Paid in Full Balance								20,141,451.77		24,966,701.69		19,205,854.12		64,314,007.58
Repurchased Loans Balance								0.00		0.00		0.00		0.00
Total Prepayment Amount								20,149,804.18		24,991,705.45		19,271,490.07		64,412,999.70

Cumulative


Number of Paid in Full Loans								338		639		426		1,403
Number of Repurchased Loans								2		1		0		3
Total Number of Loans Prepaid in Full								340		640		426		1,406
Paid in Full Balance								89,924,352.41		110,385,836.91		69,622,404.98		269,932,594.30
Repurchased Loans Balance								585,278.82		331,999.96		0.00		917,278.78
Curtailments Amount								205,130.71		219,027.06		172,409.39		596,567.16
Total Prepayment Amount								90,714,761.94		110,936,863.93		69,794,814.37		271,446,440.24










Page 19 of 37
Morgan Stanley ABS Capital I Inc. 2005-HE1

Mortgage Pass-Through Certificates

2005-HE1

July 25, 2005 Distribution

VOLUNTARY PREPAYMENTS RATES


									Group 3		Group 2		Group 1		Total



SMM								4.84%		3.74%		4.79%		4.33%
3 Months Avg SMM								4.28%		3.32%		3.64%		3.67%
12 Months Avg SMM								3.37%		2.58%		2.75%		2.85%
Avg SMM Since Cut-off								3.37%		2.58%		2.75%		2.85%


CPR								44.87%		36.70%		44.51%		41.19%
3 Months Avg CPR								40.81%		33.30%		35.88%		36.16%
12 Months Avg CPR								33.76%		26.92%		28.41%		29.30%
Avg CPR Since Cut-off								33.76%		26.92%		28.41%		29.30%


PSA								2,311.35%		1,928.50%		2,181.07%		2,111.76%
3 Months Avg PSA Approximation								2,344.91%		1,954.86%		1,949.70%		2,065.94%
12 Months Avg PSA Approximation								2,350.54%		1,933.81%		1,845.12%		2,029.00%
Avg PSA Since Cut-off Approximation								2,350.53%		1,933.81%		1,845.12%		2,029.00%










Page 20 of 37
Morgan Stanley ABS Capital I Inc. 2005-HE1

Mortgage Pass-Through Certificates

2005-HE1

July 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 37
Morgan Stanley ABS Capital I Inc. 2005-HE1

Mortgage Pass-Through Certificates

2005-HE1

July 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

13706957 1			141,000.00		139,756.52			06-Jun-2005		7.450%		CA - 67.14%		Paid Off - 360		01-Aug-2004


13766225 3			269,550.00		267,346.66			24-Jun-2005		7.150%		CA - 69.99%		Paid Off - 360		01-Sep-2004

13791074 1			140,000.00		138,206.59			16-Jun-2005		6.375%		NH - 57.38%		Paid Off - 360		01-Jul-2004

13794896 1			156,000.00		154,850.76			03-Jun-2005		7.990%		CO - 80.00%		Paid Off - 360		01-Sep-2004

13888581 3			204,000.00		200,575.47			24-Jun-2005		6.500%		NY - 80.00%		Paid Off - 360		01-Sep-2004

13889225 1			110,500.00		109,416.41			30-Jun-2005		6.200%		NV - 47.42%		Paid Off - 360		01-Sep-2004

13891148 1			152,000.00		151,141.11			30-Jun-2005		9.000%		MO - 80.00%		Paid Off - 360		01-Sep-2004

13897806 1			80,000.00		79,358.71			01-Jun-2005		7.250%		AZ - 80.00%		Paid Off - 360		01-Sep-2004

13913520 1			112,000.00		111,223.96			21-Jun-2005		7.990%		AZ - 80.00%		Paid Off - 360		01-Sep-2004

13934526 1			140,000.00		139,150.49			30-Jun-2005		8.650%		MT - 79.55%		Paid Off - 360		01-Sep-2004

13937537 1			187,500.00		186,348.63			28-Jun-2005		8.050%		RI - 75.00%		Paid Off - 360		01-Oct-2004

13937792 1			190,000.00		188,572.30			27-Jun-2005		7.650%		CA - 74.51%		Paid Off - 360		01-Oct-2004

13938808 1			136,000.00		135,254.79			01-Jun-2005		9.150%		MA - 28.63%		Paid Off - 360		01-Sep-2004

13940952 1			94,800.00		94,157.42			06-Jun-2005		8.100%		MI - 80.00%		Paid Off - 360		01-Sep-2004

13949037 1			112,000.00		111,327.09			02-Jun-2005		9.850%		MD - 80.00%		Paid Off - 360		01-Sep-2004

13958806 1			89,600.00		89,027.70			28-Jun-2005		8.500%		CA - 80.00%		Paid Off - 360		01-Sep-2004

13963038 1			125,315.00		124,318.78			16-Jun-2005		7.300%		VA - 80.00%		Paid Off - 360		01-Sep-2004

13964259 1			132,000.00		131,415.43			16-Jun-2005		10.350%		NJ - 52.80%		Paid Off - 360		01-Sep-2004

13967542 1			277,500.00		275,464.66			24-Jun-2005		7.150%		CA - 63.79%		Paid Off - 360		01-Oct-2004

13968565 1			68,000.00		67,719.43			06-Jun-2005		9.990%		GA - 80.00%		Paid Off - 360		01-Oct-2004

13971106 1			77,900.00		75,829.77			27-Jun-2005		9.150%		MI - 95.00%		Paid Off - 360		01-Sep-2004

13977699 1			175,000.00		173,739.59			30-Jun-2005		7.900%		NY - 46.67%		Paid Off - 360		01-Sep-2004

13982798 3			60,000.00		58,682.77			23-Jun-2005		6.700%		VA - 32.97%		Paid Off - 240		01-Sep-2004

13988878 1			132,905.00		131,976.81			02-Jun-2005		7.950%		GA - 95.00%		Paid Off - 360		01-Sep-2004

14008130 1			131,250.00		130,244.31			01-Jun-2005		6.925%		CO - 75.00%		Paid Off - 360		01-Oct-2004

14008262 1			66,000.00		65,632.60			24-Jun-2005		8.550%		OK - 80.00%		Paid Off - 360		01-Oct-2004

14009054 1			158,560.00		157,706.01			22-Jun-2005		8.700%		FL - 80.00%		Paid Off - 360		01-Oct-2004

14010391 3			125,800.00		125,231.04			22-Jun-2005		9.550%		VA - 85.00%		Paid Off - 360		01-Oct-2004

14010581 1			101,600.00		101,059.71			29-Jun-2005		8.800%		OH - 80.00%		Paid Off - 360		01-Oct-2004

14012652 1			150,000.00		148,602.93			01-Jun-2005		5.900%		VA - 57.69%		Paid Off - 360		01-Oct-2004

14016927 1			242,250.00		240,382.36			21-Jun-2005		7.450%		VA - 85.00%		Paid Off - 360		01-Sep-2004

14018626 1			131,000.00		129,857.72			01-Jun-2005		6.250%		FL - 81.88%		Paid Off - 360		01-Oct-2004

14034938 1			123,750.00		123,121.79			17-Jun-2005		8.990%		FL - 75.00%		Paid Off - 360		01-Oct-2004

14039549 1			120,000.00		119,178.12			03-Jun-2005		7.500%		CA - 68.57%		Paid Off - 360		01-Oct-2004

14044176 3			145,000.00		144,045.40			07-Jun-2005		7.700%		NJ - 50.00%		Paid Off - 360		01-Oct-2004

14049928 1			124,000.00		123,199.67			30-Jun-2005		7.800%		FL - 80.00%		Paid Off - 360		01-Oct-2004

14053045 1			272,000.00		271,998.80			09-Jun-2005		6.990%		CA - 80.00%		Paid Off - 360		01-Oct-2004



Page 22 of 37
Morgan Stanley ABS Capital I Inc. 2005-HE1

Mortgage Pass-Through Certificates

2005-HE1

July 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

14053367 1			112,500.00		111,607.98			01-Jun-2005		6.750%		CA - 69.44%		Paid Off - 360		01-Oct-2004


14053508 3			381,500.00		378,755.92			13-Jun-2005		7.250%		MA - 56.10%		Paid Off - 360		01-Oct-2004

14058556 1			153,000.00		151,547.46			23-Jun-2005		5.900%		MA - 55.04%		Paid Off - 360		01-Oct-2004

14058663 1			86,010.00		85,438.60			15-Jun-2005		7.740%		MO - 60.15%		Paid Off - 360		01-Oct-2004

14058697 1			88,000.00		87,295.85			01-Jun-2005		6.700%		IN - 80.00%		Paid Off - 360		01-Oct-2004

14062434 1			102,600.00		101,929.11			10-Jun-2005		7.800%		FL - 95.00%		Paid Off - 360		01-Oct-2004

14066260 1			143,200.00		142,444.28			14-Jun-2005		8.800%		MI - 80.00%		Paid Off - 360		01-Oct-2004

14067979 1			297,000.00		294,668.67			30-Jun-2005		6.800%		NY - 90.00%		Paid Off - 360		01-Oct-2004

14072516 1			142,200.00		141,300.22			16-Jun-2005		7.900%		AZ - 90.00%		Paid Off - 360		01-Oct-2004

14072573 1			106,000.00		105,175.42			15-Jun-2005		6.860%		NV - 84.80%		Paid Off - 360		01-Oct-2004

14075949 1			122,500.00		121,728.83			01-Jun-2005		8.100%		CT - 70.00%		Paid Off - 360		01-Oct-2004

14079693 1			211,500.00		210,054.89			02-Jun-2005		7.800%		CO - 90.00%		Paid Off - 360		01-Oct-2004

14082473 1			144,000.00		143,056.62			27-Jun-2005		7.725%		MI - 80.00%		Paid Off - 360		01-Oct-2004

14083216 1			164,500.00		163,255.32			03-Jun-2005		6.990%		NJ - 70.00%		Paid Off - 360		01-Oct-2004

14087779 3			288,000.00		288,000.00			22-Jun-2005		7.350%		CA - 90.00%		Paid Off - 360		01-Oct-2004

14088082 1			104,000.00		103,174.17			17-Jun-2005		6.740%		NJ - 75.36%		Paid Off - 360		01-Oct-2004

14088124 1			180,000.00		178,573.38			21-Jun-2005		6.750%		NY - 64.29%		Paid Off - 360		01-Oct-2004

14088215 1			196,000.00		194,817.93			07-Jun-2005		8.140%		MA - 80.00%		Paid Off - 360		01-Oct-2004

14088538 1			171,000.00		169,828.84			28-Jun-2005		7.500%		GA - 95.00%		Paid Off - 360		01-Oct-2004

14088785 1			137,750.00		136,961.56			21-Jun-2005		8.400%		NJ - 95.00%		Paid Off - 360		01-Oct-2004

14088843 1			104,000.00		103,472.04			16-Jun-2005		8.990%		NY - 80.00%		Paid Off - 360		01-Oct-2004

14092209 3			640,000.00		635,305.84			06-Jun-2005		7.150%		CO - 80.00%		Paid Off - 360		01-Oct-2004

14092795 1			175,000.00		173,833.60			20-Jun-2005		7.990%		MA - 40.23%		Paid Off - 360		01-Oct-2004

14093751 1			224,105.00		222,425.85			07-Jun-2005		7.050%		MN - 95.00%		Paid Off - 360		01-Oct-2004

14093991 3			109,900.00		109,243.13			09-Jun-2005		9.350%		IL - 70.00%		Paid Off - 360		01-Oct-2004

14097752 1			141,600.00		140,764.66			27-Jun-2005		8.250%		NJ - 80.00%		Paid Off - 360		01-Oct-2004

14098321 1			245,600.00		243,672.13			03-Jun-2005		6.800%		RI - 80.00%		Paid Off - 360		01-Oct-2004

14098578 3			411,000.00		407,582.67			30-Jun-2005		6.500%		NY - 41.10%		Paid Off - 360		01-Oct-2004

14098917 1			63,000.00		62,686.65			30-Jun-2005		9.090%		MI - 79.75%		Paid Off - 360		01-Oct-2004

14099295 1			62,400.00		61,914.92			03-Jun-2005		6.850%		AL - 69.33%		Paid Off - 360		01-Oct-2004

14099766 1			195,300.00		194,087.83			22-Jun-2005		8.850%		NY - 70.00%		Paid Off - 360		01-Oct-2004

14099998 1			127,425.00		126,324.35			28-Jun-2005		6.300%		FL - 75.00%		Paid Off - 360		01-Oct-2004

14101372 1			219,300.00		217,595.16			06-Jun-2005		6.850%		CA - 85.00%		Paid Off - 360		01-Oct-2004

14101398 1			145,000.00		143,616.07			16-Jun-2005		6.800%		NY - 31.52%		Paid Off - 360		01-Oct-2004

14101729 1			176,250.00		175,154.66			03-Jun-2005		7.990%		NV - 75.00%		Paid Off - 360		01-Oct-2004

14102040 3			110,000.00		109,119.75			20-Jun-2005		6.700%		CT - 67.90%		Paid Off - 360		01-Oct-2004

14102065 1			87,750.00		87,361.34			07-Jun-2005		9.650%		ME - 65.00%		Paid Off - 360		01-Oct-2004

14102222 1			506,000.00		503,410.13			22-Jun-2005		8.950%		NY - 74.96%		Paid Off - 360		01-Oct-2004



Page 23 of 37
Morgan Stanley ABS Capital I Inc. 2005-HE1

Mortgage Pass-Through Certificates

2005-HE1

July 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

14104533 1			117,300.00		116,315.81			27-Jun-2005		7.300%		AZ - 85.00%		Paid Off - 360		01-Oct-2004


14105019 1			227,500.00		225,535.02			30-Jun-2005		6.300%		CA - 59.95%		Paid Off - 360		01-Oct-2004

14105316 1			75,000.00		72,777.90			14-Jun-2005		7.050%		FL - 68.18%		Paid Off - 180		01-Oct-2004

14106751 1			255,960.00		253,344.06			24-Jun-2005		5.400%		CA - 80.00%		Paid Off - 360		01-Oct-2004

14107148 1			151,000.00		149,924.45			27-Jun-2005		7.300%		FL - 83.89%		Paid Off - 360		01-Oct-2004

14107189 1			134,000.00		132,592.24			01-Jun-2005		5.250%		CA - 62.33%		Paid Off - 360		01-Oct-2004

14107536 3			121,500.00		120,387.39			14-Jun-2005		6.000%		FL - 87.41%		Paid Off - 360		01-Oct-2004

14107866 1			415,000.00		412,294.71			16-Jun-2005		7.750%		NY - 82.18%		Paid Off - 360		01-Oct-2004

14108039 1			232,200.00		230,857.48			01-Jun-2005		8.350%		FL - 90.00%		Paid Off - 360		01-Oct-2004

14112908 1			243,000.00		241,074.13			22-Jun-2005		6.750%		CA - 74.77%		Paid Off - 360		01-Oct-2004

14113369 1			149,400.00		148,416.44			01-Jun-2005		7.700%		CA - 59.76%		Paid Off - 360		01-Oct-2004

14113880 3			370,300.00		368,517.98			30-Jun-2005		9.250%		VA - 72.61%		Paid Off - 360		01-Oct-2004

14114763 3			596,000.00		590,463.45			20-Jun-2005		6.100%		CA - 87.01%		Paid Off - 360		01-Oct-2004

14115786 3			437,000.00		434,395.93			30-Jun-2005		8.200%		CA - 78.18%		Paid Off - 360		01-Oct-2004

14115844 1			308,750.00		306,302.98			21-Jun-2005		6.750%		GA - 95.00%		Paid Off - 360		01-Oct-2004

14115919 3			245,000.00		242,679.19			08-Jun-2005		5.950%		NY - 62.98%		Paid Off - 360		01-Oct-2004

14116016 1			220,000.00		218,492.36			02-Jun-2005		7.500%		NJ - 80.00%		Paid Off - 360		01-Oct-2004

14117394 1			128,000.00		127,396.65			30-Jun-2005		9.350%		NY - 80.00%		Paid Off - 360		01-Oct-2004

14117626 1			120,000.00		118,990.20			08-Jun-2005		6.650%		GA - 80.00%		Paid Off - 360		01-Oct-2004

14118103 3			280,000.00		277,435.77			06-Jun-2005		5.990%		NY - 68.63%		Paid Off - 360		01-Oct-2004

14119143 3			360,000.00		357,279.33			09-Jun-2005		7.950%		CA - 60.50%		Paid Off - 360		01-Oct-2004

14119259 1			149,400.00		148,414.46			27-Jun-2005		7.690%		NV - 90.00%		Paid Off - 360		01-Oct-2004

14119358 3			400,000.00		396,890.32			06-Jun-2005		6.850%		CA - 58.74%		Paid Off - 360		01-Oct-2004

14119572 1			180,000.00		178,259.71			08-Jun-2005		5.700%		OR - 75.00%		Paid Off - 360		01-Oct-2004

14120745 3			65,000.00		63,570.08			#######		10.350%		NY - 13.95%		Paid Off - 180		01-Oct-2004

14121487 1			240,000.00		239,011.81			07-Jun-2005		9.999%		CA - 75.00%		Paid Off - 360		01-Oct-2004

14129142 1			328,000.00		325,569.97			14-Jun-2005		7.100%		MA - 80.00%		Paid Off - 360		01-Oct-2004

14129704 1			228,750.00		226,971.61			01-Jun-2005		6.850%		CA - 75.00%		Paid Off - 360		01-Oct-2004

14133177 1			159,920.00		158,824.78			13-Jun-2005		7.500%		FL - 80.00%		Paid Off - 360		01-Oct-2004

14133318 1			260,000.00		258,384.11			07-Jun-2005		7.990%		NY - 76.47%		Paid Off - 360		01-Oct-2004

14133722 1			162,000.00		159,522.61			30-Jun-2005		8.125%		GA - 90.00%		Paid Off - 360		01-Oct-2004

14134340 1			253,800.00		252,362.98			15-Jun-2005		9.750%		IL - 90.00%		Paid Off - 360		01-Oct-2004

14139257 1			195,000.00		193,315.69			15-Jun-2005		6.300%		MA - 70.91%		Paid Off - 360		01-Oct-2004

14140560 1			140,400.00		139,410.32			13-Jun-2005		7.390%		IL - 90.00%		Paid Off - 360		01-Oct-2004

14140628 3			85,950.00		85,307.17			02-Jun-2005		7.050%		FL - 87.70%		Paid Off - 360		01-Oct-2004

14140644 1			144,000.00		143,216.47			23-Jun-2005		8.650%		NJ - 80.00%		Paid Off - 360		01-Oct-2004

14141089 1			72,080.00		71,707.31			01-Jun-2005		8.900%		IA - 80.00%		Paid Off - 360		01-Oct-2004

14141139 1			170,000.00		168,718.74			09-Jun-2005		7.300%		CA - 37.78%		Paid Off - 360		01-Oct-2004



Page 24 of 37
Morgan Stanley ABS Capital I Inc. 2005-HE1

Mortgage Pass-Through Certificates

2005-HE1

July 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

14141188 1			97,110.00		96,375.26			01-Jun-2005		6.990%		AZ - 90.00%		Paid Off - 360		01-Oct-2004


14141915 3			66,500.00		65,966.81			24-Jun-2005		6.690%		NY - 70.00%		Paid Off - 360		01-Oct-2004

14143929 1			320,000.00		316,906.16			10-Jun-2005		5.700%		CA - 67.37%		Paid Off - 360		01-Oct-2004

14144091 3			126,400.00		125,676.54			02-Jun-2005		8.400%		VA - 80.00%		Paid Off - 360		01-Oct-2004

14146773 1			188,500.00		186,903.79			16-Jun-2005		6.600%		CA - 65.00%		Paid Off - 360		01-Oct-2004

14146971 1			273,000.00		270,898.05			29-Jun-2005		6.900%		CA - 64.24%		Paid Off - 360		01-Oct-2004

14147177 1			68,358.00		67,932.94			30-Jun-2005		8.250%		SC - 80.00%		Paid Off - 360		01-Oct-2004

14148068 1			130,000.00		129,405.96			23-Jun-2005		9.500%		MD - 71.43%		Paid Off - 360		01-Oct-2004

14148753 1			284,525.00		283,038.64			30-Jun-2005		8.850%		MO - 95.00%		Paid Off - 360		01-Oct-2004

14151245 1			82,800.00		82,232.93			23-Jun-2005		7.500%		FL - 81.98%		Paid Off - 360		01-Oct-2004

14151807 1			169,000.00		167,352.64			23-Jun-2005		6.300%		IL - 58.48%		Paid Off - 360		01-Oct-2004

14152060 1			103,900.00		103,306.87			16-Jun-2005		8.950%		FL - 78.71%		Paid Off - 360		01-Sep-2004

14152342 3			188,700.00		186,587.01			07-Jun-2005		6.950%		CT - 85.00%		Paid Off - 360		01-Oct-2004

14157127 1			149,000.00		147,923.13			06-Jun-2005		7.500%		WI - 63.14%		Paid Off - 360		01-Oct-2004

14158547 1			130,000.00		128,855.67			15-Jun-2005		6.200%		RI - 74.29%		Paid Off - 360		01-Oct-2004

14159057 1			90,000.00		89,505.29			17-Jun-2005		8.600%		FL - 64.29%		Paid Off - 360		01-Oct-2004

14163836 3			359,910.00		357,057.53			23-Jun-2005		6.750%		MD - 90.00%		Paid Off - 360		01-Oct-2004

14165013 1			96,000.00		95,380.34			02-Jun-2005		7.800%		MD - 58.18%		Paid Off - 360		01-Oct-2004

14165112 1			112,800.00		112,227.23			29-Jun-2005		8.990%		NJ - 80.00%		Paid Off - 360		01-Oct-2004

14167159 1			199,920.00		198,809.91			01-Jun-2005		8.550%		MD - 80.00%		Paid Off - 360		01-Oct-2004

14168611 1			142,500.00		141,292.33			03-Jun-2005		6.400%		NH - 95.00%		Paid Off - 360		01-Oct-2004

14171565 1			153,000.00		151,952.13			03-Jun-2005		7.500%		WI - 85.00%		Paid Off - 360		01-Oct-2004

14172423 1			296,900.00		294,945.33			17-Jun-2005		7.700%		RI - 90.00%		Paid Off - 360		01-Oct-2004

14173231 1			123,500.00		122,202.53			01-Jun-2005		6.625%		WI - 95.00%		Paid Off - 360		01-Oct-2004

14174726 1			85,500.00		85,015.55			13-Jun-2005		8.450%		IL - 90.00%		Paid Off - 360		01-Oct-2004

14175061 1			213,300.00		211,368.46			03-Jun-2005		6.050%		ME - 90.00%		Paid Off - 360		01-Oct-2004

14175970 1			139,000.00		138,294.33			21-Jun-2005		8.990%		FL - 58.16%		Paid Off - 360		01-Oct-2004

14177190 1			261,000.00		259,028.99			14-Jun-2005		7.000%		NY - 90.00%		Paid Off - 360		01-Oct-2004

14178875 1			127,920.00		127,124.98			02-Jun-2005		7.990%		VA - 80.00%		Paid Off - 360		01-Oct-2004

14180475 1			152,000.00		146,991.27			24-Jun-2005		6.990%		FL - 89.94%		Paid Off - 360		01-Oct-2004

14180582 3			353,250.00		350,758.38			27-Jun-2005		7.350%		PA - 90.00%		Paid Off - 360		01-Oct-2004

14187009 1			114,750.00		114,158.92			07-Jun-2005		9.450%		AR - 90.00%		Paid Off - 360		01-Sep-2004

14187421 3			494,900.00		491,107.98			01-Jun-2005		6.925%		MA - 90.00%		Paid Off - 360		01-Oct-2004

37851846 2			180,000.00		178,837.57			07-Jun-2005		8.250%		TX - 80.00%		Paid Off - 360		01-Oct-2004

37851998 2			200,000.00		198,727.67			10-Jun-2005		7.990%		NY - 80.00%		Paid Off - 360		01-Oct-2004

37852342 3			112,500.00		111,670.77			16-Jun-2005		7.125%		FL - 90.00%		Paid Off - 360		01-Oct-2004

37854086 2			170,000.00		168,945.30			15-Jun-2005		7.999%		GA - 76.58%		Paid Off - 360		01-Oct-2004

37854518 2			64,000.00		63,599.63			01-Jun-2005		8.500%		IL - 80.00%		Paid Off - 360		01-Sep-2004



Page 25 of 37
Morgan Stanley ABS Capital I Inc. 2005-HE1

Mortgage Pass-Through Certificates

2005-HE1

July 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

37854830 2			127,500.00		126,618.01			07-Jun-2005		7.450%		UT - 85.00%		Paid Off - 360		01-Oct-2004


37855878 2			220,000.00		219,996.11			30-Jun-2005		6.990%		CA - 80.00%		Paid Off - 360		01-Oct-2004

37855934 2			180,000.00		179,086.19			01-Jun-2005		8.990%		IL - 80.00%		Paid Off - 360		01-Oct-2004

37856574 2			157,600.00		156,336.60			03-Jun-2005		7.250%		OR - 80.00%		Paid Off - 360		01-Sep-2004

37856846 3			245,600.00		245,598.04			01-Jun-2005		8.150%		FL - 80.00%		Paid Off - 360		01-Sep-2004

37857158 3			580,000.00		580,000.00			22-Jun-2005		6.625%		CA - 84.06%		Paid Off - 360		01-Aug-2004

37857406 2			142,700.00		142,699.98			08-Jun-2005		7.650%		MO - 91.47%		Paid Off - 360		01-Sep-2004

37900478 2			259,464.00		259,464.00			10-Jun-2005		6.500%		CA - 89.47%		Paid Off - 360		01-Aug-2004

38028190 2			136,000.00		134,985.96			28-Jun-2005		6.440%		MO - 82.93%		Paid Off - 360		01-Nov-2004

38028214 2			81,600.00		81,142.52			17-Jun-2005		7.900%		AZ - 80.00%		Paid Off - 360		01-Nov-2004

38028918 2			91,800.00		91,471.69			08-Jun-2005		10.090%		TX - 74.94%		Paid Off - 360		01-Nov-2004

38028990 2			227,500.00		226,197.76			01-Jun-2005		8.400%		NJ - 60.83%		Paid Off - 360		01-Oct-2004

38029022 2			190,000.00		188,619.90			15-Jun-2005		7.200%		OH - 71.70%		Paid Off - 360		01-Oct-2004

38029046 2			120,000.00		119,083.43			14-Jun-2005		6.950%		VA - 76.92%		Paid Off - 360		01-Oct-2004

38029078 2			166,250.00		165,144.57			24-Jun-2005		7.650%		FL - 95.00%		Paid Off - 360		01-Oct-2004

38029462 2			94,000.00		93,269.18			06-Jun-2005		6.850%		MI - 78.33%		Paid Off - 360		01-Oct-2004

38029710 2			116,000.00		115,520.84			06-Jun-2005		9.400%		WV - 80.00%		Paid Off - 360		01-Nov-2004

38030406 2			331,415.00		328,726.65			10-Jun-2005		7.150%		NJ - 84.98%		Paid Off - 360		01-Oct-2004

38030734 2			288,900.00		286,842.13			08-Jun-2005		7.300%		MN - 90.00%		Paid Off - 360		01-Oct-2004

38031014 3			396,000.00		393,375.22			08-Jun-2005		7.050%		CA - 90.00%		Paid Off - 360		01-Nov-2004

38031318 3			160,000.00		159,065.50			01-Jun-2005		8.300%		MI - 80.00%		Paid Off - 360		01-Oct-2004

38031790 2			124,900.00		123,928.99			14-Jun-2005		6.850%		MO - 82.17%		Paid Off - 360		01-Oct-2004

38032222 2			242,000.00		239,987.80			17-Jun-2005		6.500%		MD - 84.91%		Paid Off - 360		01-Oct-2004

38033982 2			176,500.00		174,812.21			01-Jun-2005		6.100%		VA - 86.95%		Paid Off - 360		01-Oct-2004

38034054 2			174,000.00		172,909.87			20-Jun-2005		7.950%		RI - 75.00%		Paid Off - 360		01-Oct-2004

38034062 2			88,000.00		87,463.86			21-Jun-2005		8.090%		FL - 80.00%		Paid Off - 360		01-Oct-2004

38034543 2			245,650.00		243,917.24			07-Jun-2005		7.900%		FL - 85.00%		Paid Off - 360		01-Sep-2004

38034623 2			115,000.00		114,411.32			30-Jun-2005		8.950%		NJ - 79.31%		Paid Off - 360		01-Oct-2004

38034647 2			141,000.00		139,656.35			23-Jun-2005		5.800%		MD - 75.00%		Paid Off - 360		01-Oct-2004

38034823 2			121,600.00		121,055.67			01-Jun-2005		9.600%		FL - 80.00%		Paid Off - 360		01-Oct-2004

38035063 2			111,600.00		110,986.57			15-Jun-2005		8.600%		AZ - 90.00%		Paid Off - 360		01-Oct-2004

38035855 2			207,000.00		204,580.66			08-Jun-2005		6.500%		CA - 90.00%		Paid Off - 360		01-Sep-2004

38036039 3			385,000.00		382,086.94			28-Jun-2005		6.990%		CA - 70.00%		Paid Off - 360		01-Oct-2004

38036095 2			121,600.00		120,990.24			03-Jun-2005		9.050%		GA - 80.00%		Paid Off - 360		01-Oct-2004

38036103 2			172,500.00		171,425.86			24-Jun-2005		7.990%		FL - 75.00%		Paid Off - 360		01-Oct-2004

38037911 3			442,000.00		439,147.15			16-Jun-2005		7.800%		FL - 85.00%		Paid Off - 360		01-Oct-2004

38037951 2			168,000.00		166,993.80			22-Jun-2005		8.150%		WA - 78.14%		Paid Off - 360		01-Nov-2004

38038495 2			188,000.00		186,604.81			08-Jun-2005		7.090%		VA - 100.00%		Paid Off - 360		01-Oct-2004



Page 26 of 37
Morgan Stanley ABS Capital I Inc. 2005-HE1

Mortgage Pass-Through Certificates

2005-HE1

July 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

38040031 2			160,600.00		159,196.31			22-Jun-2005		5.840%		MD - 88.24%		Paid Off - 360		01-Nov-2004


38040279 2			130,000.00		128,756.91			30-Jun-2005		5.875%		RI - 66.67%		Paid Off - 360		01-Oct-2004

38040455 2			204,750.00		202,965.16			27-Jun-2005		6.450%		VA - 75.00%		Paid Off - 360		01-Oct-2004

38041191 2			137,000.00		135,699.82			20-Jun-2005		5.800%		MD - 72.11%		Paid Off - 360		01-Oct-2004

38041727 2			180,000.00		179,032.79			08-Jun-2005		8.490%		VA - 89.55%		Paid Off - 360		01-Nov-2004

38041895 3			198,700.00		197,572.75			23-Jun-2005		7.840%		MD - 74.98%		Paid Off - 360		01-Nov-2004

38042063 2			213,600.00		212,222.33			20-Jun-2005		7.190%		CA - 80.00%		Paid Off - 360		01-Nov-2004

38042231 2			180,000.00		178,620.14			13-Jun-2005		6.590%		NJ - 73.17%		Paid Off - 360		01-Nov-2004

38042880 2			112,000.00		111,269.28			08-Jun-2005		7.150%		FL - 74.67%		Paid Off - 360		01-Nov-2004

38044280 3			400,000.00		395,223.33			29-Jun-2005		8.600%		VA - 65.04%		Paid Off - 360		01-Aug-2004

321722803 2			297,500.00		293,946.62			14-Jul-2005		6.990%		CA - 74.38%		Paid Off - 360		01-May-2004

321734238 2			81,000.00		80,025.07			06-Jul-2005		6.950%		IN - 89.50%		Paid Off - 360		01-May-2004

321763344 2			393,000.00		387,385.58			30-Jun-2005		6.050%		MA - 91.40%		Paid Off - 360		01-May-2004

322812397 2			107,200.00		106,566.37			27-Jun-2005		8.250%		CA - 61.26%		Paid Off - 360		#######

322812595 3			343,920.00		340,863.86			01-Jul-2005		6.150%		CA - 80.00%		Paid Off - 360		01-Oct-2004

322812702 2			54,000.00		53,759.52			27-Jun-2005		9.750%		CA - 20.00%		Paid Off - 360		01-Sep-2004

322812736 2			257,160.00		257,159.10			07-Jul-2005		7.450%		CA - 80.00%		Paid Off - 360		01-Oct-2004

322812801 2			233,600.00		232,028.87			14-Jul-2005		6.975%		NJ - 80.00%		Paid Off - 360		01-Nov-2004

322812892 2			204,250.00		203,255.66			16-Jun-2005		8.600%		NJ - 95.00%		Paid Off - 360		01-Nov-2004

322813304 2			90,000.00		89,319.60			06-Jul-2005		6.650%		NY - 80.00%		Paid Off - 360		01-Nov-2004

322813403 2			225,600.00		224,357.90			05-Jul-2005		7.990%		NJ - 80.00%		Paid Off - 360		01-Nov-2004

322814112 2			234,500.00		234,500.00			11-Jul-2005		6.890%		CA - 63.38%		Paid Off - 360		01-Oct-2004

322814229 2			120,000.00		120,000.00			13-Jul-2005		6.900%		NJ - 80.00%		Paid Off - 360		01-Nov-2004

322814294 2			39,800.00		39,340.13			21-Jun-2005		9.500%		HI - 20.00%		Paid Off - 240		01-Nov-2004

322814435 2			130,752.00		129,577.72			30-Jun-2005		5.450%		AZ - 80.00%		Paid Off - 360		01-Nov-2004

322814666 2			268,000.00		268,000.00			07-Jul-2005		7.150%		NJ - 80.00%		Paid Off - 360		01-Nov-2004

322815622 3			20,400.00		20,015.71			30-Jun-2005		10.600%		CA - 20.00%		Paid Off - 180		01-Nov-2004

322815853 3			440,000.00		436,192.31			23-Jun-2005		5.650%		CA - 80.00%		Paid Off - 360		01-Nov-2004

322816026 3			53,800.00		53,603.88			01-Jul-2005		10.000%		NV - 20.00%		Paid Off - 360		01-Nov-2004

322816158 3			357,000.00		357,000.00			21-Jun-2005		6.400%		CA - 84.50%		Paid Off - 360		01-Nov-2004

322816265 3			541,500.00		537,732.47			08-Jul-2005		6.800%		VA - 95.00%		Paid Off - 360		01-Nov-2004

322816422 2			324,000.00		324,000.00			01-Jul-2005		5.900%		CA - 90.00%		Paid Off - 360		01-Nov-2004

322816539 2			91,200.00		90,501.59			06-Jul-2005		6.300%		MA - 80.00%		Paid Off - 360		01-Nov-2004

322816562 2			151,050.00		150,442.94			27-Jun-2005		7.900%		FL - 95.00%		Paid Off - 360		01-Oct-2004

322816778 2			144,000.00		142,708.30			07-Jul-2005		6.100%		AZ - 80.00%		Paid Off - 360		01-Oct-2004

322816851 2			59,200.00		58,917.25			14-Jul-2005		9.150%		FL - 80.00%		Paid Off - 360		01-Nov-2004

322816893 2			116,800.00		115,879.78			30-Jun-2005		6.150%		CA - 80.00%		Paid Off - 360		01-Nov-2004

322817495 3			189,000.00		187,886.47			20-Jun-2005		7.650%		FL - 90.00%		Paid Off - 360		01-Nov-2004



Page 27 of 37
Morgan Stanley ABS Capital I Inc. 2005-HE1

Mortgage Pass-Through Certificates

2005-HE1

July 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

322817842 3			76,000.00		74,321.40			30-Jun-2005		8.800%		PA - 84.44%		Paid Off - 180		01-Nov-2004


322818154 2			170,640.00		170,640.00			29-Jun-2005		5.700%		CA - 80.00%		Paid Off - 360		01-Nov-2004

322818832 2			63,600.00		63,398.78			16-Jun-2005		11.300%		NY - 20.00%		Paid Off - 360		01-Oct-2004

322818949 3			62,000.00		61,592.74			06-Jul-2005		11.000%		CA - 20.00%		Paid Off - 360		01-Aug-2004

322819079 2			33,100.00		32,721.50			16-Jun-2005		11.400%		CA - 20.00%		Paid Off - 240		01-Sep-2004

322819509 2			33,700.00		33,322.61			28-Jun-2005		10.800%		CA - 20.00%		Paid Off - 240		01-Oct-2004

322819871 2			146,250.00		146,250.00			07-Jul-2005		7.550%		AZ - 90.00%		Paid Off - 360		01-Nov-2004

322820028 2			303,920.00		301,223.53			27-Jun-2005		5.700%		CA - 80.00%		Paid Off - 360		01-Nov-2004

322820036 2			37,800.00		37,047.01			08-Jul-2005		10.300%		AZ - 20.00%		Paid Off - 180		01-Nov-2004

322820093 2			32,000.00		31,657.86			06-Jul-2005		11.350%		MD - 20.00%		Paid Off - 240		01-Nov-2004

322820101 2			100,000.00		99,298.96			01-Jul-2005		6.800%		FL - 90.91%		Paid Off - 360		01-Nov-2004

322820192 2			177,079.00		176,176.65			21-Jun-2005		8.375%		WA - 90.00%		Paid Off - 360		01-Nov-2004

322820655 2			320,000.00		318,426.13			05-Jul-2005		8.550%		CA - 80.00%		Paid Off - 360		01-Nov-2004

322821513 2			235,000.00		233,267.62			15-Jul-2005		6.500%		CA - 83.93%		Paid Off - 360		01-Nov-2004

322822644 3			560,000.00		556,035.46			15-Jul-2005		7.250%		CA - 70.00%		Paid Off - 360		01-Nov-2004

322823691 2			330,400.00		330,400.00			01-Jul-2005		7.100%		CA - 80.00%		Paid Off - 360		01-Oct-2004

322823733 2			68,000.00		67,510.87			05-Jul-2005		7.250%		FL - 80.00%		Paid Off - 360		01-Oct-2004

322823907 2			186,400.00		186,340.61			17-Jun-2005		7.600%		WA - 80.00%		Paid Off - 360		01-Oct-2004

322823915 2			350,000.00		348,038.00			28-Jun-2005		7.900%		IL - 72.16%		Paid Off - 360		01-Nov-2004

322824137 3			333,000.00		331,166.53			11-Jul-2005		7.990%		CA - 90.00%		Paid Off - 360		01-Nov-2004

322824319 3			350,000.00		347,268.45			20-Jun-2005		6.200%		NY - 76.09%		Paid Off - 360		01-Nov-2004

322824335 2			93,600.00		93,052.57			11-Jul-2005		8.200%		KS - 90.00%		Paid Off - 360		01-Nov-2004

322824459 2			285,000.00		283,562.32			08-Jul-2005		8.425%		HI - 75.00%		Paid Off - 360		01-Nov-2004

322824855 2			265,500.00		263,966.54			29-Jun-2005		7.750%		CA - 87.91%		Paid Off - 360		01-Nov-2004

322824988 3			522,000.00		518,002.81			22-Jun-2005		6.300%		CA - 90.00%		Paid Off - 360		01-Nov-2004

322825175 2			292,000.00		290,330.13			24-Jun-2005		7.800%		WA - 76.84%		Paid Off - 360		01-Nov-2004

322825258 2			315,000.00		315,000.00			23-Jun-2005		6.900%		NY - 84.91%		Paid Off - 360		01-Nov-2004

322825456 2			85,600.00		85,260.76			27-Jun-2005		9.600%		FL - 80.00%		Paid Off - 360		01-Nov-2004

322825720 3			305,000.00		302,386.11			11-Jul-2005		6.800%		CA - 76.25%		Paid Off - 360		01-Nov-2004

322825852 3			332,000.00		329,125.04			23-Jun-2005		6.000%		HI - 80.00%		Paid Off - 360		01-Nov-2004

322825894 2			81,600.00		81,043.14			30-Jun-2005		6.900%		CA - 80.00%		Paid Off - 360		01-Nov-2004

322826298 3			705,500.00		699,105.16			07-Jul-2005		5.400%		CA - 85.00%		Paid Off - 360		01-Nov-2004

322826405 3			319,000.00		316,409.65			16-Jun-2005		5.990%		CA - 83.29%		Paid Off - 360		01-Nov-2004

322827767 2			36,000.00		35,631.22			11-Jul-2005		10.450%		CA - 20.00%		Paid Off - 240		01-Nov-2004

322828187 2			108,000.00		107,350.96			06-Jul-2005		7.550%		NC - 80.00%		Paid Off - 360		01-Nov-2004

322828716 2			57,800.00		57,462.76			29-Jun-2005		7.700%		PA - 85.00%		Paid Off - 360		01-Nov-2004

322829235 2			208,000.00		207,140.20			06-Jul-2005		6.750%		CA - 79.39%		Paid Off - 360		01-Oct-2004

322829284 2			158,100.00		157,177.67			30-Jun-2005		7.700%		AZ - 85.00%		Paid Off - 360		01-Nov-2004



Page 28 of 37
Morgan Stanley ABS Capital I Inc. 2005-HE1

Mortgage Pass-Through Certificates

2005-HE1

July 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

322829300 2			214,200.00		212,723.99			21-Jun-2005		6.850%		FL - 90.00%		Paid Off - 360		01-Nov-2004


322829540 2			192,000.00		192,000.00			21-Jun-2005		6.425%		CA - 80.00%		Paid Off - 360		01-Oct-2004

322829557 2			181,800.00		180,897.64			08-Jul-2005		9.100%		SC - 90.00%		Paid Off - 360		01-Oct-2004

322829599 2			118,000.00		117,112.04			01-Jul-2005		6.400%		AZ - 80.00%		Paid Off - 360		01-Nov-2004

322830126 3			262,000.00		260,194.66			06-Jul-2005		6.850%		IL - 69.87%		Paid Off - 360		01-Nov-2004

322830191 2			118,800.00		115,702.26			28-Jun-2005		6.990%		FL - 90.00%		Paid Off - 180		01-Nov-2004

322830225 2			144,000.00		143,175.74			07-Jul-2005		8.400%		CA - 77.84%		Paid Off - 360		01-Oct-2004

322830712 2			135,000.00		133,863.43			29-Jun-2005		6.250%		CA - 50.94%		Paid Off - 360		01-Nov-2004

322831124 2			182,900.00		182,167.68			08-Jul-2005		9.550%		WV - 100.00%		Paid Off - 360		01-Nov-2004

322831470 2			230,000.00		228,557.63			07-Jul-2005		8.125%		CT - 47.92%		Paid Off - 360		01-Nov-2004

322831504 3			148,800.00		147,349.30			12-Jul-2005		6.500%		NV - 80.00%		Paid Off - 360		01-Nov-2004

322831579 2			170,000.00		168,805.74			22-Jun-2005		6.750%		ME - 85.00%		Paid Off - 360		01-Nov-2004

322831744 3			423,000.00		419,559.69			16-Jun-2005		5.990%		CA - 88.13%		Paid Off - 360		01-Nov-2004

322832650 2			109,600.00		108,764.64			16-Jun-2005		6.325%		OH - 78.29%		Paid Off - 360		01-Nov-2004

322832668 2			189,500.00		186,793.87			20-Jun-2005		5.990%		MA - 61.53%		Paid Off - 360		01-Nov-2004

322832676 3			304,000.00		302,136.78			20-Jun-2005		7.450%		CA - 95.00%		Paid Off - 360		01-Nov-2004

322832874 2			97,500.00		97,093.01			30-Jun-2005		9.350%		MN - 75.00%		Paid Off - 360		01-Nov-2004

322833625 2			306,400.00		304,141.59			17-Jun-2005		6.500%		CA - 80.00%		Paid Off - 360		01-Nov-2004

322834375 2			50,000.00		49,705.41			22-Jun-2005		7.650%		MN - 83.33%		Paid Off - 360		01-Nov-2004

322834771 2			172,500.00		171,299.86			30-Jun-2005		6.800%		CA - 75.00%		Paid Off - 360		01-Nov-2004

322834995 2			91,000.00		90,455.43			28-Jun-2005		7.900%		OH - 89.22%		Paid Off - 360		01-Nov-2004

322835372 2			202,500.00		202,478.38			20-Jun-2005		6.200%		NY - 75.00%		Paid Off - 360		01-Nov-2004

322835661 2			315,000.00		313,362.14			12-Jul-2005		8.275%		NV - 70.00%		Paid Off - 360		01-Nov-2004

322835745 3			159,300.00		158,284.36			20-Jun-2005		7.250%		MD - 90.00%		Paid Off - 360		01-Nov-2004

322835893 2			93,000.00		92,209.74			29-Jun-2005		5.750%		DC - 54.23%		Paid Off - 360		01-Nov-2004

322836537 3			81,200.00		80,808.62			07-Jul-2005		8.650%		FL - 70.00%		Paid Off - 360		01-Nov-2004

322836560 2			63,000.00		62,677.32			14-Jul-2005		8.350%		OH - 90.00%		Paid Off - 360		01-Nov-2004

322836834 2			85,050.00		84,585.44			01-Jul-2005		8.030%		FL - 90.00%		Paid Off - 360		01-Nov-2004

322837188 3			262,500.00		260,848.66			05-Jul-2005		7.325%		CA - 75.00%		Paid Off - 360		01-Nov-2004

322837253 2			295,125.00		293,168.80			22-Jun-2005		7.050%		CA - 75.00%		Paid Off - 360		01-Nov-2004

322837782 2			225,000.00		223,125.88			13-Jul-2005		6.550%		CA - 90.00%		Paid Off - 360		01-Nov-2004

322837980 3			175,500.00		174,361.37			23-Jun-2005		7.250%		MI - 90.00%		Paid Off - 360		01-Nov-2004

322838665 2			327,000.00		324,790.03			01-Jul-2005		6.950%		HI - 84.94%		Paid Off - 360		01-Nov-2004

322838673 2			164,700.00		163,715.07			01-Jul-2005		7.650%		IL - 90.00%		Paid Off - 360		01-Nov-2004

322838723 3			442,000.00		439,736.27			08-Jul-2005		8.350%		DC - 85.00%		Paid Off - 360		01-Nov-2004

322839119 3			80,000.00		79,537.95			15-Jun-2005		7.750%		MI - 59.26%		Paid Off - 360		01-Nov-2004

322839515 2			161,500.00		160,745.19			30-Jun-2005		8.800%		IL - 85.00%		Paid Off - 360		01-Nov-2004

322840497 2			103,400.00		102,878.39			28-Jun-2005		8.425%		MA - 42.20%		Paid Off - 360		01-Nov-2004



Page 29 of 37
Morgan Stanley ABS Capital I Inc. 2005-HE1

Mortgage Pass-Through Certificates

2005-HE1

July 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

322840539 2			297,000.00		295,284.61			20-Jun-2005		7.750%		MD - 90.00%		Paid Off - 360		01-Nov-2004


322840711 2			104,000.00		103,195.99			14-Jul-2005		6.250%		WA - 80.00%		Paid Off - 360		01-Nov-2004

322840893 3			334,050.00		331,332.70			29-Jun-2005		5.990%		CA - 85.00%		Paid Off - 360		01-Nov-2004

322841404 2			241,000.00		#######			17-Jun-2005		6.350%		CA - 77.74%		Paid Off - 360		01-Nov-2004

322841420 2			248,000.00		246,071.63			29-Jun-2005		6.850%		CA - 80.00%		Paid Off - 360		01-Oct-2004

322841495 2			192,000.00		190,485.07			05-Jul-2005		7.700%		FL - 80.00%		Paid Off - 360		01-Nov-2004

322841560 2			169,915.00		169,062.08			13-Jul-2005		8.450%		CA - 85.00%		Paid Off - 360		01-Nov-2004

322841727 3			400,000.00		397,051.66			06-Jul-2005		6.500%		NJ - 79.76%		Paid Off - 360		01-Nov-2004

322841958 2			284,000.00		282,633.33			29-Jun-2005		9.250%		MD - 80.00%		Paid Off - 360		01-Oct-2004

322842022 3			372,600.00		370,060.64			06-Jul-2005		7.525%		NJ - 90.00%		Paid Off - 360		01-Oct-2004

322842543 2			152,669.00		151,939.65			29-Jun-2005		8.700%		FL - 95.00%		Paid Off - 360		01-Nov-2004

322842683 2			157,590.00		156,555.48			30-Jun-2005		7.750%		CT - 90.00%		Paid Off - 360		01-Oct-2004

322842816 3			400,000.00		397,166.16			17-Jun-2005		6.900%		HI - 77.22%		Paid Off - 360		01-Nov-2004

322842899 2			237,500.00		235,902.18			08-Jul-2005		6.975%		MD - 95.00%		Paid Off - 360		01-Nov-2004

322843277 2			106,400.00		105,752.03			23-Jun-2005		7.500%		CA - 95.00%		Paid Off - 360		01-Nov-2004

322843491 2			133,000.00		132,010.22			30-Jun-2005		6.450%		MD - 95.00%		Paid Off - 360		01-Nov-2004

322843830 2			107,000.00		106,388.05			13-Jul-2005		7.800%		MD - 69.03%		Paid Off - 360		01-Nov-2004

322844226 2			174,250.00		173,081.47			01-Jul-2005		6.990%		CA - 85.00%		Paid Off - 360		01-Nov-2004

322844291 3			165,300.00		164,220.21			29-Jun-2005		7.125%		CA - 95.00%		Paid Off - 360		01-Nov-2004

322844499 2			147,250.00		146,616.04			06-Jul-2005		9.200%		MI - 95.00%		Paid Off - 360		01-Nov-2004

322845231 2			170,000.00		168,624.58			22-Jun-2005		6.100%		MD - 85.00%		Paid Off - 360		01-Nov-2004

322845272 2			135,000.00		134,096.43			21-Jun-2005		7.000%		CA - 43.41%		Paid Off - 360		01-Nov-2004

322845686 2			250,000.00		248,842.97			08-Jul-2005		8.850%		IL - 88.65%		Paid Off - 360		01-Nov-2004

322845736 2			268,000.00		266,062.12			21-Jun-2005		6.600%		VA - 80.00%		Paid Off - 360		01-Nov-2004

322846197 2			115,000.00		114,160.40			13-Jul-2005		6.550%		HI - 69.70%		Paid Off - 360		01-Nov-2004

322846221 3			82,000.00		81,678.47			22-Jun-2005		9.650%		GA - 78.85%		Paid Off - 360		01-Nov-2004

322847344 3			145,600.00		145,132.74			21-Jun-2005		10.600%		IL - 70.00%		Paid Off - 360		01-Nov-2004

322847401 3			120,000.00		119,181.01			30-Jun-2005		6.900%		CA - 80.00%		Paid Off - 360		01-Nov-2004

322847971 3			71,814.00		71,359.99			27-Jun-2005		7.300%		OH - 79.79%		Paid Off - 360		01-Nov-2004

322848227 3			131,625.00		131,033.27			17-Jun-2005		8.990%		ID - 75.00%		Paid Off - 360		01-Nov-2004

322848359 2			67,500.00		67,247.46			27-Jun-2005		9.875%		AZ - 75.00%		Paid Off - 360		01-Nov-2004

322848391 2			114,000.00		113,236.96			15-Jul-2005		7.000%		AZ - 95.00%		Paid Off - 360		01-Nov-2004

322848789 2			69,000.00		68,772.52			30-Jun-2005		10.475%		CA - 46.00%		Paid Off - 360		01-Nov-2004

322849381 2			148,500.00		147,562.59			22-Jun-2005		7.300%		FL - 90.00%		Paid Off - 360		01-Nov-2004

322849464 2			184,000.00		182,505.82			01-Jul-2005		5.990%		CA - 73.60%		Paid Off - 360		01-Nov-2004

322850280 2			385,000.00		382,418.18			30-Jun-2005		6.990%		NY - 84.99%		Paid Off - 360		01-Nov-2004

322850785 2			155,000.00		153,776.40			08-Jul-2005		6.150%		IL - 47.69%		Paid Off - 360		01-Dec-2004

322851817 2			112,000.00		111,074.99			16-Jun-2005		5.900%		AZ - 70.00%		Paid Off - 360		01-Nov-2004



Page 30 of 37
Morgan Stanley ABS Capital I Inc. 2005-HE1

Mortgage Pass-Through Certificates

2005-HE1

July 25, 2005 Distribution


TOTAL			64,755,811.00		64,314,007.58

Page 31 of 37
Morgan Stanley ABS Capital I Inc. 2005-HE1

Mortgage Pass-Through Certificates

2005-HE1

July 25, 2005 Distribution
Realized Loss Report

COLLATERAL REALIZED LOSSES



									Group 3		Group 2		Group 1		Total


Current




Number of Loans Liquidated								0		4		0		4
Collateral Principal Realized Loss/(Gain) Amount								0.00		32,424.53		0.00		32,424.53
Collateral Interest Realized Loss/(Gain) Amount								0.00		0.00		0.00		0.00
Net Liquidation Proceeds								0.00		417,255.48		0.00		417,255.48

Cumulative




Number of Loans Liquidated								0		4		0		4
Collateral Realized Loss/(Gain) Amount								0.00		32,424.53		0.00		32,424.53
Net Liquidation Proceeds								0.00		417,255.48		0.00		417,255.48










Page 32 of 37
Morgan Stanley ABS Capital I Inc. 2005-HE1

Mortgage Pass-Through Certificates

2005-HE1

July 25, 2005 Distribution


DEFAULT SPEEDS



									Group 3		Group 2		Group 1		Total



MDR								0.00%		0.07%		0.00%		0.03%
3 Months Avg MDR								0.00%		0.02%		0.00%		0.01%
12 Months Avg MDR								0.00%		0.01%		0.00%		0.01%
Avg MDR Since Cut-off								0.00%		0.01%		0.00%		0.01%


CDR								0.00%		0.79%		0.00%		0.36%
3 Months Avg CDR								0.00%		0.26%		0.00%		0.12%
12 Months Avg CDR								0.00%		0.13%		0.00%		0.06%
Avg CDR Since Cut-off								0.00%		0.13%		0.00%		0.06%


SDA								0.00%		4.15%		0.00%		1.84%
3 Months Avg SDA Approximation								0.00%		1.55%		0.00%		0.68%
12 Months Avg SDA Approximation								0.00%		0.95%		0.00%		0.42%
Avg SDA Since Cut-off Approximation								0.00%		0.95%		0.00%		0.42%


Loss Severity Approximation for Current Period								0.00%		7.21%		0.00%		7.21%
3 Months Avg Loss Severity Approximation								0.00%		2.40%		0.00%		2.40%
12 Months Avg Loss Severity Approximation								0.00%		1.20%		0.00%		1.20%
Avg Loss Severity Approximation Since Cut-off								0.00%		1.20%		0.00%		1.20%












Page 33 of 37
Morgan Stanley ABS Capital I Inc. 2005-HE1

Mortgage Pass-Through Certificates

2005-HE1

July 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 34 of 37
Morgan Stanley ABS Capital I Inc. 2005-HE1

Mortgage Pass-Through Certificates

2005-HE1

July 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)

37851918 2
			8.375%		MI - 49.83%		360		111,390.85				0.00		0.00

37855558 2			8.375%		FL - 90.00%		360		185,263.65				0.00		0.00
38034038 2			7.150%		TN - 79.07%		360		101,251.43				593.28		0.00
38038063 2			9.750%		TN - 80.00%		360		51,774.08				31,831.25		0.00


TOTAL									449,680.01			32,424.53		0.00



Page 35 of 37
Morgan Stanley ABS Capital I Inc. 2005-HE1

Mortgage Pass-Through Certificates

2005-HE1

July 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								60,736,081.87
						Ending Balance								1,434,192,379.96
						Prior period Senior Enhancement Percentage								20.8441%



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 36 of 37
Morgan Stanley ABS Capital I Inc. 2005-HE1

Mortgage Pass-Through Certificates

2005-HE1

July 25, 2005 Distribution
Other Related Information
ADDITIONAL INFORMATION

								Group 3		Group 2		Group 1		Total
Current Scheduled Payments								2,783,341.70		4,626,906.54		2,804,703.02		10,214,951.26
Current Scheduled Payments 1 Month Prior								2,919,020.56		4,795,379.58		2,907,137.11		10,621,537.25
Current Scheduled Payments 2 Month Prior								3,029,527.91		4,938,129.84		2,991,901.79		10,959,559.55
Current Scheduled Payments 3 Month Prior								3,126,331.24		5,056,642.44		3,074,054.44		11,257,028.13
Current Scheduled Payments 4 Month Prior								3,202,018.37		5,149,477.11		3,131,712.53		11,483,208.01
Current Scheduled Payments 5 Month Prior								3,269,417.03		5,225,615.85		3,174,719.69		11,669,752.57
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								50,820.70		102,435.03		66,571.43		219,827.16
Sched. Pmts - 60+Day Delinquent Loans, 1 Month Prior								36,713.03		95,237.56		51,888.50		183,839.09
Sched. Pmts - 60+Day Delinquent Loans, 2 Month Prior								24,322.46		74,474.45		34,987.63		133,784.54
Sched. Pmts - 60+Day Delinquent Loans, 3 Month Prior								31,799.88		45,559.79		13,002.65		90,362.32
Sched. Pmts - 60+Day Delinquent Loans, 4 Month Prior								18,484.15		17,839.00		0.00		36,323.15
Sched. Pmts - 60+Day Delinquent Loans, 5 Month Prior								1,704.65		2,001.75		0.00		3,706.40
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 37 of 37

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