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~~August 25, 2005 (Date of earliest event reported) MORGAN STANLEY ABS CAPITAL I INC. (as Depositor under the Pooling and Servicing Agreement, dated as February 1, 2005, providing for the issuance of Mortgage Pass-Through Certificates, Series 2005-NC1) (Exact name of registrant as specified in charter) DELAWARE (State or Other Jurisdiction of Incorporation) 333-113543-26 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-NC1, which was made on February 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~~August 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~~Aug 2726, 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~~August 25, 2005.

Morgan Stanley ABS Capital I Inc. 2005-NC1
Mortgage Pass-Through Certificates
2005-NC1
July 25, 2005 Distribution
August 25, 2005 Distribution
				External Parties						Table of Contents
													Page
				Seller
										1. Certificate Payment Report					2
				Morgan Stanley
										2. Collection Account Report					4
										3. Credit Enhancement Report					6
										4. Collateral Report					7
				Certificate Insurer(s)						5. Delinquency Report					10
										6. REO Report					13
										7. Foreclosure Report					14
										8. Prepayment Report					1617
										9. Prepayment Detail Report					1920
										10. Realized Loss Report					2627
										11. Realized Loss Detail Report					2930
				Servicer(s)
										12. Triggers and Adj. Cert. Report					3031
				HomeQ Servicing Corp.
										13. Other Related Information					3132
				New Century Mortgage Corporation
				Chase Home Finance LLC
				Underwriter(s)
				Morgan Stanley
										Total Number of Pages					3132
				Dates						Contacts
				Cut-Off Date:			February 01, 2005			Eiko Akiyama
				Close Date:			February 25, 2005			Administrator
				First Distribution Date:			March 25, 2005			(714) 247-6328
										Address:
										1761 East St. Andrew Place, Santa Ana, CA 92514
				Distribution Date:			~~July~~August 25, 2005
										Factor Information:			(800) 735-7777
				Record Date:			~~June~~July 3029, 2005
										Main Phone Number:			(714) 247-6000
							July 22, 2005
							August 24, 2005
										https://www.tss.db.com/invr
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Morgan Stanley ABS Capital I Inc. 2005-NC1
Mortgage Pass-Through Certificates
2005-NC1
July 25, 2005 Distribution
August 25, 2005 Distribution
Certificate Payment Report
Current Period Distribution - REMIC II
					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/STEP/WA	$	427,202,000.00		~~364~~343,~~354~~373,~~923~~570.3986		1,~~066~~156,~~776~~119.9774		2018,~~981~~061,~~352~~150.5325		2219,~~048~~217,~~129~~269.5099		0.00		0.00		~~343~~325,~~373~~312,~~570~~420.8661
A-1MZ	FLT/STEP/WA	$	58,255,000.00		4946,~~684~~823,~~917~~814.3488		~~139~~151,~~287~~201.0390		2,~~861~~462,~~102~~891.4681		32,~~000~~614,~~389~~093.4971		0.00		0.00		4644,~~823~~360,~~814~~923.8807
A-2A	FLT/STEP/WA	$	366,000,000.00		~~281~~254,~~699~~333,~~301~~748.9779		~~750~~781,~~279~~864.8033		2728,~~365~~211,~~553~~041.1890		28,~~115~~992,~~832~~906.9823		0.00		0.00		~~254~~226,~~333~~122,~~748~~706.7989
A-2B	FLT/STEP/WA	$	170,000,000.00		170,000,000.00		~~466~~537,~~001~~247.3622		0.00		~~466~~537,~~001~~247.3622		0.00		0.00		170,000,000.00
A-2C	FLT/STEP/WA	$	117,449,000.00		117,449,000.00		~~337~~388,~~478~~364.7469		0.00		~~337~~388,~~478~~364.7469		0.00		0.00		117,449,000.00
A-2MZ	FLT/STEP/WA	$	89,107,000.00		7773,~~611~~879,~~409~~729.2255		~~217~~238,~~576~~569.3496		3,~~731~~846,~~679~~974.6700		34,~~949~~085,~~256~~543.0196		0.00		0.00		7370,~~879~~032,~~729~~755.55
M-1	FLT/STEP/WA	$	46,596,000.00		46,596,000.00		~~136~~156,~~063~~484.7490		0.00		~~136~~156,~~063~~484.7490		0.00		0.00		46,596,000.00
M-2	FLT/STEP/WA	$	30,813,000.00		30,813,000.00		90104,~~695~~276.1933		0.00		90104,~~695~~276.1933		0.00		0.00		30,813,000.00
M-3	FLT/STEP/WA	$	21,794,000.00		21,794,000.00		6474,~~826~~505.6421		0.00		6474,~~826~~505.6421		0.00		0.00		21,794,000.00
M-4	FLT/STEP/WA	$	34,571,000.00		34,571,000.00		~~107~~123,~~403~~245.1162		0.00		~~107~~123,~~403~~245.1162		0.00		0.00		34,571,000.00
M-5	FLT/STEP/WA	$	22,546,000.00		22,546,000.00		7081,~~921~~347.3522		0.00		7081,~~921~~347.3522		0.00		0.00		22,546,000.00
M-6	FLT/STEP/WA	$	15,783,000.00		15,783,000.00		5057,~~138~~489.4958		0.00		5057,~~138~~489.4958		0.00		0.00		15,783,000.00
B-1	FLT/STEP/WA	$	23,297,000.00		23,297,000.00		8294,~~706~~488.0675		0.00		8294,~~706~~488.0675		0.00		0.00		23,297,000.00
B-2	FLT/STEP/WA	$	12,777,000.00		12,777,000.00		4552,~~856~~371.1750		0.00		4552,~~856~~371.1750		0.00		0.00		12,777,000.00
B-3	FLT/STEP/WA	$	19,540,000.00		19,540,000.00		8091,~~766~~870.7757		0.00		8091,~~766~~870.7757		0.00		0.00		19,540,000.00
X	EXE	$	47,346,958.00		47,346,924.53		3,~~708~~018,~~696~~022.9171		0.00		3,~~708~~018,~~696~~022.9171		0.00		0.00		47,346,924.53
P	EXE	$	0.00		0.00		~~987~~908,~~134~~795.1451		0.00		~~987~~908,~~134~~795.1451		0.00		0.00		0.00
R	R	$	0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00
Total			1,503,076,958.00		1,~~335~~280,~~863~~923,~~476~~788.4561		8,~~402~~016,~~608~~265.8174		5452,~~939~~582,~~687~~057.8496		6360,~~342~~598,~~296~~323.6570		0.00		0.00		1,~~280~~228,~~923~~341,~~788~~730.6165
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	0607/2725/05		0708/24/05		A-Act/360		61744CMD5		427,202,000.00		~~852~~803.~~886745~~773322		2.~~497125~~706260		4942.~~113423~~277776		5144.~~610548~~984036	~~803~~761.~~773322~~495547
A-1MZ	0607/2725/05		0708/24/05		A-Act/360		61744CME3		58,255,000.00		~~852~~803.~~886745~~773322		2.~~390988~~595518		4942.~~113423~~277775		5144.~~504411~~873293	~~803~~761.~~773322~~495547
A-2A	0607/2725/05		0708/24/05		A-Act/360		61744CMF0		366,000,000.00		~~769~~694.~~670224~~900953		2.~~049945~~136241		7477.~~769271~~079349		7679.~~819216~~215591	~~694~~617.~~900953~~821604
A-2B	0607/2725/05		0708/24/05		A-Act/360		61744CMG8		170,000,000.00		1,000.000000		23.~~741184~~160278		0.000000		23.~~741184~~160278	1,000.000000
A-2C	0607/2725/05		0708/24/05		A-Act/360		61744CMH6		117,449,000.00		1,000.000000		23.~~873407~~306667		0.000000		23.~~873407~~306667	1,000.000000
A-2MZ	0607/2725/05		0708/24/05		A-Act/360		61744CMJ2		89,107,000.00		~~870~~829.~~991159~~112523		2.~~441742~~677343		4143.~~878637~~172523		4445.~~320379~~849865	~~829~~785.~~112523~~940000
M-1	0607/2725/05		0708/24/05		A-Act/360		61744CMK9		46,596,000.00		1,000.000000		23.~~920073~~358333		0.000000		23.~~920073~~358333	1,000.000000
M-2	0607/2725/05		0708/24/05		A-Act/360		61744CML7		30,813,000.00		1,000.000000		23.~~943407~~384167		0.000000		23.~~943407~~384167	1,000.000000
M-3	0607/2725/05		0708/24/05		A-Act/360		61744CMM5		21,794,000.00		1,000.000000		23.~~974518~~418611		0.000000		23.~~974518~~418611	1,000.000000
M-4	0607/2725/05		0708/24/05		A-Act/360		61744CMN3		34,571,000.00		1,000.000000		3.~~106740~~565000		0.000000		3.~~106740~~565000	1,000.000000
M-5	0607/2725/05		0708/24/05		A-Act/360		61744CMP8		22,546,000.00		1,000.000000		3.~~145629~~608056		0.000000		3.~~145629~~608056	1,000.000000
M-6	0607/2725/05		0708/24/05		A-Act/360		61744CMQ6		15,783,000.00		1,000.000000		3.~~176740~~642500		0.000000		3.~~176740~~642500	1,000.000000
B-1	0607/2725/05		0708/24/05		A-Act/360		61744CMR4		23,297,000.00		1,000.000000		34.~~550073~~055833		0.000000		34.~~550073~~055833	1,000.000000
B-2	0607/2725/05		0708/24/05		A-Act/360		61744CMS2		12,777,000.00		1,000.000000		34.~~588962~~098889		0.000000		34.~~588962~~098889	1,000.000000
B-3	0607/2725/05		0708/24/05		A-Act/360		61744CMT0		19,540,000.00		1,000.000000		4.~~133407~~701667		0.000000		4.~~133407~~701667	1,000.000000
X	0607/2725/05		0708/24/05		A-Act/360		MS05C1101		47,346,958.00		999.999293		7863.~~330205~~742695		0.000000		7863.~~330205~~742695	999.999293
P	0607/25/05		0708/24/05		MS05C1102		0.00		0.000000		0.000000		0.000000		0.000000		0.000000
R	0607/25/05		0708/24/05		MS05C1103		0.00		0.000000		0.000000		0.000000		0.000000		0.000000
Page 2 of 31
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Morgan Stanley ABS Capital I Inc. 2005-NC1
Mortgage Pass-Through Certificates
2005-NC1
July 25, 2005 Distribution
August 25, 2005 Distribution
Distribution to Date - REMIC II
																	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	427,202,000.00		56,~~708~~864,~~433~~553.3509		8199,~~784~~495,~~722~~090.6242		2,~~043~~394,~~706~~488.5297		83101,~~828~~889,~~429~~579.1439		89108,~~536~~754,~~862~~132.4948		0.00		0.00		~~343~~325,~~373~~312,~~570~~420.8661
A-1MZ	58,255,000.00		~~742~~893,~~053~~255.9282		1113,~~152~~567,~~496~~554.9968		~~278~~326,~~688~~522.1224		1113,~~431~~894,~~185~~076.1293		1214,~~173~~787,~~239~~332.0475		0.00		0.00		4644,~~823~~360,~~814~~923.8807
A-2A	366,000,000.00		4,~~177~~959,~~558~~423.6801		~~108~~136,~~830~~493,~~293~~422.6659		23,~~835~~383,~~957~~870.5552		~~111~~139,~~666~~877,~~251~~293.2111		~~115~~144,~~843~~836,~~809~~716.8912		0.00		0.00		~~254~~226,~~333~~122,~~748~~706.7989
A-2B	170,000,000.00		2,~~263~~801,~~940~~187.2547		0.00		0.00		0.00		2,~~263~~801,~~940~~187.2547		0.00		0.00		170,000,000.00
A-2C	117,449,000.00		12,~~647~~035,~~296~~660.0877		0.00		0.00		0.00		12,~~647~~035,~~296~~660.0877		0.00		0.00		117,449,000.00
A-2MZ	89,107,000.00		1,~~138~~376,~~074~~643.0096		1418,~~840~~612,~~547~~805.5891		~~386~~461,~~722~~438.8754		1519,~~227~~074,~~270~~244.45		1620,~~365~~450,~~344~~888.4541		0.00		0.00		7370,~~879~~032,~~729~~755.55
M-1	46,596,000.00		~~665~~821,~~187~~672.2111		0.00		0.00		0.00		~~665~~821,~~187~~672.2111		0.00		0.00		46,596,000.00
M-2	30,813,000.00		~~443~~548,~~726~~002.5891		0.00		0.00		0.00		~~443~~548,~~726~~002.5891		0.00		0.00		30,813,000.00
M-3	21,794,000.00		~~317~~391,~~479~~984.6485		0.00		0.00		0.00		~~317~~391,~~479~~984.6485		0.00		0.00		21,794,000.00
M-4	34,571,000.00		~~528~~651,~~093~~339.7739		0.00		0.00		0.00		~~528~~651,~~093~~339.7739		0.00		0.00		34,571,000.00
M-5	22,546,000.00		~~349~~430,~~101~~448.4264		0.00		0.00		0.00		~~349~~430,~~101~~448.4264		0.00		0.00		22,546,000.00
M-6	15,783,000.00		~~247~~304,~~013~~503.8947		0.00		0.00		0.00		~~247~~304,~~013~~503.8947		0.00		0.00		15,783,000.00
B-1	23,297,000.00		~~411~~505,~~206~~695.7045		0.00		0.00		0.00		~~411~~505,~~206~~695.7045		0.00		0.00		23,297,000.00
B-2	12,777,000.00		~~228~~280,~~183~~555.9646		0.00		0.00		0.00		~~228~~280,~~183~~555.9646		0.00		0.00		12,777,000.00
B-3	19,540,000.00		~~405~~497,~~955~~826.7936		0.00		0.00		0.00		~~405~~497,~~955~~826.7936		0.00		0.00		19,540,000.00
X	47,346,958.00		2023,~~431~~449,~~645~~668.6435		31.90		1.57		33.47		2023,~~431~~449,~~679~~701.1283		0.00		0.00		47,346,924.53
P	0.00		34,~~238~~147,~~816~~611.4697		0.00		0.00		0.00		34,~~238~~147,~~816~~611.4697		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	1,503,076,958.00		4250,~~943~~960,~~767~~033.3408		~~216~~268,~~608~~168,~~092~~905.7550		56,~~545~~566,~~076~~321.6384		~~222~~274,~~153~~735,~~169~~227.3935		~~265~~325,~~096~~695,~~936~~260.7444		0.00		0.00		1,~~280~~228,~~923~~341,~~788~~730.6165
Interest Detail - REMIC II
	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.~~76438~~91000%		~~364~~343,~~354~~373,~~923~~570.3986		1,~~066~~156,~~776~~119.9774		0.00		0.00		0.00		1,~~066~~156,~~776~~119.9774		1,~~066~~156,~~776~~119.9774		0.00
A-1MZ	3.~~60438~~75000%		4946,~~684~~823,~~917~~814.3488		~~139~~151,~~287~~201.0390		0.00		0.00		0.00		~~139~~151,~~287~~201.0390		~~139~~151,~~287~~201.0390		0.00
A-2A	3.~~42438~~57000%		~~281~~254,~~699~~333,~~301~~748.9779		~~750~~781,~~279~~864.8033		0.00		0.00		0.00		~~750~~781,~~279~~864.8033		~~750~~781,~~279~~864.8033		0.00
A-2B	3.~~52438~~67000%		170,000,000.00		~~466~~537,~~001~~247.3622		0.00		0.00		0.00		~~466~~537,~~001~~247.3622		~~466~~537,~~001~~247.3622		0.00
A-2C	3.~~69438~~84000%		117,449,000.00		~~337~~388,~~478~~364.7469		0.00		0.00		0.00		~~337~~388,~~478~~364.7469		~~337~~388,~~478~~364.7469		0.00
A-2MZ	3.~~60438~~75000%		7773,~~611~~879,~~409~~729.2255		~~217~~238,~~576~~569.3496		0.00		0.00		0.00		~~217~~238,~~576~~569.3496		~~217~~238,~~576~~569.3496		0.00
M-1	3.~~75438~~90000%		46,596,000.00		~~136~~156,~~063~~484.7490		0.00		0.00		0.00		~~136~~156,~~063~~484.7490		~~136~~156,~~063~~484.7490		0.00
M-2	3.~~78438~~93000%		30,813,000.00		90104,~~695~~276.1933		0.00		0.00		0.00		90104,~~695~~276.1933		90104,~~695~~276.1933		0.00
M-3	3.~~82438~~97000%		21,794,000.00		6474,~~826~~505.6421		0.00		0.00		0.00		6474,~~826~~505.6421		6474,~~826~~505.6421		0.00
M-4	34.~~99438~~14000%		34,571,000.00		~~107~~123,~~403~~245.1162		0.00		0.00		0.00		~~107~~123,~~403~~245.1162		~~107~~123,~~403~~245.1162		0.00
M-5	4.~~04438~~19000%		22,546,000.00		7081,~~921~~347.3522		0.00		0.00		0.00		7081,~~921~~347.3522		7081,~~921~~347.3522		0.00
M-6	4.~~08438~~23000%		15,783,000.00		5057,~~138~~489.4958		0.00		0.00		0.00		5057,~~138~~489.4958		5057,~~138~~489.4958		0.00
B-1	4.~~56438~~71000%		23,297,000.00		8294,~~706~~488.0675		0.00		0.00		0.00		8294,~~706~~488.0675		8294,~~706~~488.0675		0.00
B-2	4.~~61438~~76000%		12,777,000.00		4552,~~856~~371.1750		0.00		0.00		0.00		4552,~~856~~371.1750		4552,~~856~~371.1750		0.00
B-3	5.~~31438~~46000%		19,540,000.00		8091,~~766~~870.7757		0.00		0.00		0.00		8091,~~766~~870.7757		8091,~~766~~870.7757		0.00
X	~~100~~74.~~71033~~02383%		47,346,924.53		0.00		0.00		0.00		0.00		0.00		3,~~708~~018,~~696~~022.9171		0.00
P	0.00000%		0.00		0.00		0.00		0.00		0.00		0.00		~~987~~908,~~134~~795.1451		0.00
R	0.00000%		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00
Total			1,~~335~~280,~~863~~923,~~476~~788.4561		34,~~706~~089,~~777~~447.7652		0.00		0.00		0.00		34,~~706~~089,~~777~~447.7652		8,~~402~~016,~~608~~265.8174		0.00
Page 3 of 31
Page 3 of 32
Morgan Stanley ABS Capital I Inc. 2005-NC1
Mortgage Pass-Through Certificates
2005-NC1
July 25, 2005 Distribution
August 25, 2005 Distribution
Collection Account Report
SUMMARY
										Group 2		Group 1		Total
Principal Collections										3132,~~097~~058,~~232~~015.8590		2320,~~842~~524,~~454~~042.9906		5452,~~939~~582,~~687~~057.8496
Principal Withrawals										0.00		0.00		0.00
Principal Other Accounts										0.00		0.00		0.00
TOTAL NET PRINCIPAL										3132,~~097~~058,~~232~~015.8590		2320,~~842~~524,~~454~~042.9906		5452,~~939~~582,~~687~~057.8496
Interest Collections										4,~~528~~366,~~629~~781.2911		2,~~958~~822,~~286~~971.42		7,~~486~~189,~~915~~752.7253
Interest Withdrawals										-0.00		-0.00		-0.00
Interest Other Accounts										0.00		0.00		~~987~~908,~~134~~795.1451
Interest Fees										-4251,~~238~~848.0312		-2930,~~203~~434.0018		-7182,~~441~~282.0430
TOTAL NET INTEREST										4,~~486~~314,~~391~~932.2699		2,~~929~~792,~~083~~537.4224		8,~~402~~016,~~608~~265.8274
TOTAL AVAILABLE FUNDS FOR DISTRIBUTION										3536,~~583~~372,~~624~~948.1189		2623,~~771~~316,~~538~~579.4130		6360,~~342~~598,~~296~~323.6670
PRINCIPAL - COLLECTIONS
											Group 2		Group 1		Total
Scheduled Principal Received											~~624~~604,~~356~~808.5001		~~429~~416,~~236~~437.9220		1,~~053~~021,~~593~~245.4221
Prepayments In Full											3031,~~463~~429,~~504~~966.2001		2320,~~375~~028,~~128~~717.3487		5351,~~838~~458,~~632~~683.5488
Curtailments											923,~~372~~241.1588		3878,~~089~~886.7399		47102,~~461~~128.8887
Liquidations											0.00		0.00		0.00
Insurance Principal											0.00		0.00		0.00
Repurchased Principal Amounts											0.00		0.00		0.00
Other Principal											0.00		0.00		0.00
Total Realized Loss Of Principal											-0.00		-0.00		-0.00
Delinquent Principal											-~~570~~535,~~150~~308.9897		-~~390~~376,~~933~~870.0087		-~~961~~912,~~083~~179.9884
Advanced Principal											~~570~~535,~~150~~308.9897		~~390~~376,~~933~~870.0087		~~961~~912,~~083~~179.9884
TOTAL PRINCIPAL COLLECTED											3132,~~097~~058,~~232~~015.8590		2320,~~842~~524,~~454~~042.9906		5452,~~939~~582,~~687~~057.8496
PRINCIPAL - WITHDRAWALS
SPACE INTENTIONALLY LEFT BLANK
PRINCIPAL - OTHER ACCOUNTS
										Group 2		Group 1		Total
Closing Deposit										0.00		0.00		0.00
TOTAL OTHER ACCOUNTS PRINCIPAL										0.00		0.00		0.00
Page 4 of 31
Page 4 of 32
Morgan Stanley ABS Capital I Inc. 2005-NC1
Mortgage Pass-Through Certificates
2005-NC1
July 25, 2005 Distribution
August 25, 2005 Distribution
INTEREST - COLLECTIONS
										Group 2		Group 1		Total
Scheduled Interest										4,~~827~~642,~~209~~716.5233		3,~~148~~001,~~214~~674.6146		7,~~975~~644,~~424~~390.1379
Liquidation Interest										0.00		0.00		0.00
Repurchased Interest										0.00		0.00		0.00
Insurance Interest										0.00		0.00		0.00
Other Interest										0.00		0.00		0.00
Relief Act Interest Shortfalls										-0.00		-0.00		-0.00
Prepayment Interest Shortfalls										-1823,~~716~~021.8549		-1714,~~716~~787.2751		-3637,~~433~~809.1200
Compensating Interest										1823,~~716~~021.8549		1714,~~716~~787.2751		3637,~~433~~809.1100
Delinquent Interest										-43,~~262~~936,~~412~~394.0497		-2,~~750~~578,~~885~~500.8247		-76,~~013~~514,~~297~~895.8644
Interest Advanced										3,~~963~~660,~~831~~459.8274		2,~~560~~399,~~957~~797.6343		6,~~524~~060,~~789~~257.4517
TOTAL INTEREST COLLECTED										4,~~528~~366,~~629~~781.2911		2,~~958~~822,~~286~~971.42		7,~~486~~189,~~915~~752.7253
INTEREST - WITHDRAWALS
										Group 2		Group 1		Total
Nonrecoverable Advances										0.00		0.00		0.00
TOTAL INTEREST WITHDRAWALS										0.00		0.00		0.00
INTEREST - OTHER ACCOUNTS
										Group 2		Group 1		Total
Prepayment Charges														~~987~~908,~~134~~795.1451
TOTAL INTEREST OTHER ACCOUNTS										0.00		0.00		~~987~~908,~~134~~795.1451
INTEREST - FEES
										Group 2		Group 1		Total
Current Servicing Fees										4049,~~205~~893.3215		2729,~~896~~186.0684		6879,~~101~~079.3799
Current Trustee Fees										21,~~032~~954.7197		1,~~306~~247.9534		3,~~339~~202.6631
TOTAL INTEREST OTHER FEES										4251,~~238~~848.0312		2930,~~203~~434.0018		7182,~~441~~282.0430
Page 5 of 31
Page 5 of 32
Morgan Stanley ABS Capital I Inc. 2005-NC1
Mortgage Pass-Through Certificates
2005-NC1
July 25, 2005 Distribution
August 25, 2005 Distribution
Credit Enhancement Report
ACCOUNTS
SPACE INTENTIONALLY LEFT BLANK
INSURANCE
SPACE INTENTIONALLY LEFT BLANK
STRUCTURAL FEATURES
										Group 2		Group 1		Total
Overcollateralization Amount														47,346,924.53
Overcollateralization Target Amount														47,346,924.53
Overcollateralization Deficiency Amount														0.00
Overcollateralization Release Amount														0.00
Page 6 of 31
Page 6 of 32
Morgan Stanley ABS Capital I Inc. 2005-NC1
Mortgage Pass-Through Certificates
2005-NC1
July 25, 2005 Distribution
August 25, 2005 Distribution
Collateral Report
COLLATERAL
											Group 2		Group 1		Total
Loan Count:
Original										4,605		3,475		8,080
Prior										4,~~232~~098		3,~~143~~025		7,~~375~~123
Prefunding										0		0		0
Scheduled Paid Offs										-0		-0		-0
Full Voluntary Prepayments										-~~134~~137		-~~118~~101		-~~252~~238
Repurchases										-0		-0		-0
Liquidations										-0		-0		-0
Current										43,~~098~~961		32,~~025~~924		76,~~123~~885
Principal Balance:
Original										908,881,228.02		594,195,102.67		1,503,076,330.69
Prior										~~813~~781,~~085~~988,~~308~~075.5166		~~522~~498,~~778~~935,~~167~~712.5960		1,~~335~~280,~~863~~923,~~476~~788.1026
Prefunding										0.00		0.00		0.00
Scheduled Principal										-~~624~~604,~~356~~808.5001		-~~429~~416,~~236~~437.9220		-1,~~053~~021,~~593~~245.4221
Partial Prepayments										-923,~~372~~241.1588		-3878,~~089~~886.7399		-47102,~~461~~128.8887
Full Voluntary Prepayments										-3031,~~463~~429,~~504~~966.2001		-2320,~~375~~028,~~128~~717.3487		-5351,~~838~~458,~~632~~683.5488
Repurchases										-0.00		-0.00		-0.00
Liquidations										-0.00		-0.00		-0.00
Current										~~781~~749,~~988~~930,~~075~~059.6676		~~498~~478,~~935~~411,~~712~~670.6054		1,~~280~~228,~~923~~341,~~788~~730.2630
PREFUNDING
SPACE INTENTIONALLY LEFT BLANK
Page 7 of 31
Page 7 of 32
Morgan Stanley ABS Capital I Inc. 2005-NC1
Mortgage Pass-Through Certificates
2005-NC1
July 25, 2005 Distribution
August 25, 2005 Distribution
CHARACTERISTICS
										Group 2		Group 1		Total
Weighted Average Coupon Original										7.14706%		7.26679%		7.19439%
Weighted Average Coupon Prior										7.~~13155~~12428%		7.~~24050~~22779%		7.~~17461~~16479%
Weighted Average Coupon Current										7.~~12428~~12448%		7.~~22779~~22194%		7.~~16479~~16244%
Weighted Average Months to Maturity Original										350		348		349
Weighted Average Months to Maturity Prior										~~346~~345		~~344~~343		~~345~~344
Weighted Average Months to Maturity Current										~~345~~344		~~343~~341		~~344~~343
Weighted Avg Remaining Amortization Term Original										350		348		349
Weighted Avg Remaining Amortization Term Prior										~~346~~345		~~344~~343		~~345~~344
Weighted Avg Remaining Amortization Term Current										~~345~~344		~~343~~341		~~344~~343
Weighted Average Seasoning Original										4.12		4.16		4.14
Weighted Average Seasoning Prior										78.11		78.15		78.13
Weighted Average Seasoning Current										89.11		89.15		89.13
Page 8 of 31
Page 8 of 32
Morgan Stanley ABS Capital I Inc. 2005-NC1
Mortgage Pass-Through Certificates
2005-NC1
July 25, 2005 Distribution
August 25, 2005 Distribution
ARM CHARACTERISTICS
										Group 2		Group 1		Total
Weighted Average Margin Original										5.50782%		5.57735%		5.53501%
Weighted Average Margin Prior										5.~~51255~~51120%		5.~~57514~~56746%		5.~~53699~~53297%
Weighted Average Margin Current										5.~~51120~~50975%		5.~~56746~~56506%		5.~~53297~~53097%
Weighted Average Max Rate Original										14.21385%		14.41241%		14.29151%
Weighted Average Max Rate Prior										14.~~19688~~18961%		14.~~38319~~37152%		14.~~26964~~25999%
Weighted Average Max Rate Current										14.~~18961~~19059%		14.~~37152~~36528%		14.~~25999~~25763%
Weighted Average Min Rate Original										7.22109%		7.41792%		7.29807%
Weighted Average Min Rate Prior										7.~~20314~~19621%		7.~~38851~~37652%		7.~~27553~~26597%
Weighted Average Min Rate Current										7.~~19621~~19660%		7.~~37652~~37057%		7.~~26597~~26336%
Weighted Average Cap Up Original										1.51524%		1.50331%		1.51057%
Weighted Average Cap Up Prior										1.~~51197~~51139%		1.~~50349~~50399%		1.~~50866~~50853%
Weighted Average Cap Up Current										1.~~51139~~51102%		1.~~50399~~50422%		1.~~50853~~50841%
Weighted Average Cap Down Original										1.51524%		1.50331%		1.51057%
Weighted Average Cap Down Prior										1.~~51197~~51139%		1.~~50349~~50399%		1.~~50866~~50853%
Weighted Average Cap Down Current										1.~~51139~~51102%		1.~~50399~~50422%		1.~~50853~~50841%
SERVICING FEES & ADVANCES
											Group 2		Group 1		Total
Current Servicing Fees										4049,~~205~~893.3215		2729,~~896~~186.0684		6879,~~101~~079.3799
Delinquent Servicing Fees										~~298~~275,~~580~~935.2221		~~189~~178,~~928~~703.1804		~~488~~454,~~508~~638.4025
TOTAL SERVICING FEES										~~338~~325,~~785~~828.5638		~~217~~207,~~824~~889.2489		~~556~~533,~~609~~718.8027
Compensating Interest										-1823,~~716~~021.8549		-1714,~~716~~787.2751		-3637,~~433~~809.1100
Delinquent Servicing Fees										-~~298~~275,~~580~~935.2221		-~~189~~178,~~928~~703.1804		-~~488~~454,~~508~~638.4025
COLLECTED SERVICING FEES										~~156~~147,~~399~~317.7020		1014,~~179~~399.7934		3141,~~668~~271.2700
Aggregate Advances with respect to this Distribution										32,~~260~~976,~~224~~764.9782		21,~~075~~927,~~762~~812.3568		54,~~335~~904,~~987~~577.3250
ADDITIONAL COLLATERAL INFORMATION
										Group 2		Group 1		Total
Net Prepayment Interest Shortfall										0.00		0.00		0.00
Libor For Current Period														3.~~31438000~~46000000%
Page 9 of 31
Page 9 of 32
Morgan Stanley ABS Capital I Inc. 2005-NC1
Mortgage Pass-Through Certificates
2005-NC1
July 25, 2005 Distribution
August 25, 2005 Distribution
Delinquency Report
	TOTAL
					< 1 PAYMENT		1 PAYMENT		2 PAYMENTS		3+ PAYMENTS		TOTAL
	DELINQUENT		Balance				2731,~~792~~167,~~299~~498.9969		45,~~993~~305,~~559~~387.3014		21,~~071~~105,~~253~~493.2792		3437,~~857~~578,~~112~~379.5675
			% Balance				2.1754%		0.3943%		0.1609%		23.7206%
			# Loans				~~170~~176		2733		134		~~210~~213
			% # Loans				2.3956%		0.3848%		0.1806%		23.9509%
	FORECLOSURE		Balance		~~362~~422,~~097~~379.2279		~~249~~79,~~559~~188.0031		5,~~834~~237,~~940~~504.6560		1015,~~209~~325,~~434~~359.0521		1621,~~656~~064,~~030~~431.9291
			% Balance		0.03%		0.0201%		0.4643%		01.8025%		1.3071%
			# Loans		3		1		2726		6188		92118
			% # Loans		0.04%		0.01%		0.38%		01.8628%		1.2971%
	BANKRUPTCY		Balance		4,~~720~~806,~~557~~505.6348		~~425~~783,~~459~~148.2478		~~321~~348,~~320~~998.9720		~~216~~408,~~985~~800.0989		56,~~684~~347,~~322~~453.9335
			% Balance		0.3739%		0.0306%		0.03%		0.0203%		0.4452%
			# Loans		2827		24		32		36		3639
			% # Loans		0.39%		0.0306%		0.0403%		0.0409%		0.5157%
	REO		Balance		0.00		0.00		0.00		0104,563.0013		0104,563.0013
			% Balance		0.00%		0.00%		0.00%		0.0001%		0.0001%
			# Loans		0		0		0		01		01
			% # Loans		0.00%		0.00%		0.00%		0.0001%		0.0001%
	TOTAL		Balance		5,~~082~~228,~~654~~885.8527		2832,~~467~~029,~~318~~835.2378		1110,~~149~~891,~~820~~889.9294		1216,~~497~~944,~~672~~217.4115		5765,~~197~~094,~~466~~828.4114
			% Balance		0.4043%		2.2261%		0.8789%		01.9838%		45.4730%
			# Loans		3130		~~173~~181		5761		7799		~~338~~371
			% # Loans		0.44%		2.4363%		0.8089%		1.0844%		45.7539%
Page 10 of 31
Page 10 of 32
Morgan Stanley ABS Capital I Inc. 2005-NC1
Mortgage Pass-Through Certificates
2005-NC1
July 25, 2005 Distribution
August 25, 2005 Distribution
	GROUP 1
					< 1 PAYMENT		1 PAYMENT		2 PAYMENTS		3+ PAYMENTS		TOTAL
	DELINQUENT		Balance				1110,~~289~~625,~~553~~030.6839		~~773~~1,~~839~~256,285.0298		~~638,211~~0.1800		1211,~~701~~881,~~603~~316.8837
			% Balance				2.2622%		0.1626%		0.1300%		2.5548%
			# Loans				7170		67		50		8277
			% # Loans				2.3539%		0.2024%		0.1700%		2.7163%
	FORECLOSURE		Balance		~~250~~155,~~396~~611.2838		079,188.0031		1,~~826~~885,~~206~~607.4015		45,~~759~~750,~~617~~621.2292		67,~~836~~871,~~219~~028.9076
			% Balance		0.0503%		0.0002%		0.3739%		01.9520%		1.3765%
			# Loans		21		01		1112		2838		4152
			% # Loans		0.0703%		0.0003%		0.3641%		01.9330%		1.3678%
	BANKRUPTCY		Balance		1,~~875~~890,~~245~~614.5720		0451,973.0001		~~82,409~~0.0100		67221,~~604~~454.1389		2,~~025~~564,~~258~~042.7110
			% Balance		0.3840%		0.0009%		0.0200%		0.0105%		0.4154%
			# Loans		1213		01		10		13		1417
			% # Loans		0.4044%		0.0003%		0.0300%		0.0310%		0.4658%
	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		2,~~125~~046,~~641~~225.8558		11,~~289~~156,~~553~~191.6871		23,~~682~~141,~~454~~893.4313		5,~~465~~972,~~432~~076.5381		2122,~~563~~316,~~082~~387.4923
			% Balance		0.43%		2.2633%		0.5466%		1.1025%		4.3266%
			# Loans		14		7172		1819		3441		~~137~~146
			% # Loans		0.4648%		2.3546%		0.6065%		1.1240%		4.5399%
Page 11 of 31
Page 11 of 32
Morgan Stanley ABS Capital I Inc. 2005-NC1
Mortgage Pass-Through Certificates
2005-NC1
July 25, 2005 Distribution
August 25, 2005 Distribution
	GROUP 2
					< 1 PAYMENT		1 PAYMENT		2 PAYMENTS		3+ PAYMENTS		TOTAL
	DELINQUENT		Balance				1620,~~502~~542,~~746~~468.3130		4,~~219~~049,~~720~~101.2816		1,~~433~~105,~~042~~493.0992		2225,~~155~~697,~~508~~063.6838
			% Balance				2.1174%		0.54%		0.1815%		23.8343%
			# Loans				99106		2126		84		~~128~~136
			% # Loans				2.4268%		0.5166%		0.2010%		3.1243%
	FORECLOSURE		Balance		~~111~~266,~~700~~768.9441		~~249,559~~0.00		43,~~008~~351,~~734~~897.2545		59,~~449~~574,~~816~~737.8329		913,~~819~~193,~~811~~403.0215
			% Balance		0.0104%		0.0300%		0.5145%		01.7028%		1.2676%
			# Loans		12		10		1614		3350		5166
			% # Loans		0.0205%		0.0200%		0.3935%		01.8126%		1.2467%
	BANKRUPTCY		Balance		2,~~845~~915,~~312~~891.0628		~~425~~331,~~459~~175.2477		~~238~~348,~~911~~998.9620		~~149~~187,~~380~~346.9600		3,~~659~~783,~~064~~411.2225
			% Balance		0.3639%		0.0504%		0.0305%		0.02%		0.4750%
			# Loans		1614		23		2		23		22
			% # Loans		0.3935%		0.0508%		0.05%		0.0508%		0.5456%
	REO		Balance		0.00		0.00		0.00		0104,563.0013		0104,563.0013
			% Balance		0.00%		0.00%		0.00%		0.0001%		0.0001%
			# Loans		0		0		0		01		01
			% # Loans		0.00%		0.00%		0.00%		0.0003%		0.0003%
	TOTAL		Balance		23,~~957~~182,~~013~~659.0069		1720,~~177~~873,~~764~~644.5507		87,~~467~~749,~~366~~996.4981		710,~~032~~972,~~239~~140.8834		3542,~~634~~778,~~383~~440.9291
			% Balance		0.3842%		2.2078%		1.0803%		01.9046%		45.5670%
			# Loans		1716		~~102~~109		3942		4358		~~201~~225
			% # Loans		0.4140%		2.4975%		01.9506%		1.0546%		45.9068%
Page 12 of 31
Page 12 of 32
Morgan Stanley ABS Capital I Inc. 2005-NC1
Mortgage Pass-Through Certificates
2005-NC1
July 25, 2005 Distribution
August 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
TOTAL
1833696 2
Page 13 of 31
			105,000.00		104,563.13		01-Jan-2005		9.950%		MO - 75.00%		360		01-Dec-2004
TOTAL			105,000.00		104,563.13
Page 13 of 32
Morgan Stanley ABS Capital I Inc. 2005-NC1
Mortgage Pass-Through Certificates
2005-NC1
July 25, 2005 Distribution
August 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
1674415 1
			158,000.00		157,~~226~~127.8103		01-Feb-2005		8.575%		WA - 83.16%		360		01-Dec-2004
1773944 1			111,094.00		110,446.62		01-Mar-2005		8.500%		MI - 87.34%		360		01-Nov-2004
1767475 1			108,000.00		104,794.76		01-Mar-2005		6.750%		CA - 80.00%		180		01-Dec-2004
1794720 1			85,500.00		85,058.98		01-Feb-2005		8.400%		KS - 89.06%		360		01-Dec-2004
1773944 1			111,094.00		110,374.73		01-Mar-2005		8.500%		MI - 87.34%		360		01-Nov-2004
1833854 1			65,600.00		65,268.98		01-Feb-2005		8.425%		NC - 80.00%		360		01-Dec-2004
1794720 1			85,500.00		85,003.01		01-Feb-2005		8.400%		KS - 89.06%		360		01-Dec-2004
1835247 1			323,000.00		321,785.31		01-Feb-2005		9.850%		NY - 85.00%		360		01-Dec-2004
1821017 1			76,000.00		75,457.97		01-Feb-2005		7.850%		IL - 60.80%		360		01-Nov-2004
1835253 1			254,150.00		252,821.83		01-Jan-2005		8.250%		OR - 85.00%		360		01-Dec-2004
1833854 1			65,600.00		65,226.29		01-Feb-2005		8.425%		NC - 80.00%		360		01-Dec-2004
1836595 1			165,750.00		165,079.38		01-Feb-2005		9.500%		IL - 85.00%		360		01-Dec-2004
1835247 1			323,000.00		321,627.81		01-Feb-2005		9.850%		NY - 85.00%		360		01-Dec-2004
1840028 1			123,200.00		122,664.02		01-Jan-2005		9.150%		AK - 80.00%		360		01-Dec-2004
1835253 1			254,150.00		252,650.63		01-Jan-2005		8.250%		OR - 85.00%		360		01-Dec-2004
1847221 1			79,600.00		79,235.42		01-Mar-2005		8.900%		MI - 80.00%		360		01-Dec-2004
1836595 1			165,750.00		164,992.54		01-Feb-2005		9.500%		IL - 85.00%		360		01-Dec-2004
1851659 1			187,500.00		186,653.84		01-Mar-2005		8.990%		VA - 75.00%		360		01-Dec-2004
1839737 1			92,000.00		91,494.20		01-Apr-2005		8.600%		TX - 80.00%		360		01-Dec-2004
1857044 1			195,000.00		193,851.13		01-Jun-2005		7.650%		NV - 65.00%		360		01-Dec-2004
1840028 1			123,200.00		122,594.70		01-Jan-2005		9.150%		AK - 80.00%		360		01-Dec-2004
1860471 1			122,550.00		121,971.25		01-Feb-2005		8.750%		NY - 95.00%		360		01-Dec-2004
1842347 1			194,750.00		193,679.45		01-Mar-2005		8.600%		TX - 95.00%		360		01-Dec-2004
1864801 1			73,875.00		73,370.79		01-Jan-2005		6.900%		OR - 75.00%		360		01-Dec-2004
1847221 1			79,600.00		79,188.31		01-May-2005		8.900%		MI - 80.00%		360		01-Dec-2004
1870704 1			64,000.00		63,751.56		01-Jan-2005		9.700%		ME - 59.26%		360		01-Dec-2004
1851659 1			187,500.00		186,544.87		01-Mar-2005		8.990%		VA - 75.00%		360		01-Dec-2004
1874934 1			157,000.00		155,768.86		01-Feb-2005		6.175%		CA - 52.33%		360		01-Dec-2004
1858544 1			217,550.00		216,089.11		01-Apr-2005		7.600%		NJ - 94.63%		360		01-Dec-2004
1875816 1			301,750.00		299,559.72		01-Nov-2004		6.580%		CA - 85.00%		360		01-Dec-2004
1860471 1			122,550.00		121,896.51		01-Feb-2005		8.750%		NY - 95.00%		360		01-Dec-2004
1878555 1			99,450.00		99,007.14		01-Feb-2005		9.625%		CT - 65.00%		360		01-Nov-2004
1864801 1			73,875.00		73,306.12		01-Jan-2005		6.900%		OR - 75.00%		360		01-Dec-2004
1884122 1			56,800.00		56,545.15		01-Jun-2005		9.000%		MI - 80.00%		360		01-Dec-2004
1870704 1			64,000.00		63,719.37		01-Jan-2005		9.700%		ME - 59.26%		360		01-Dec-2004
1885766 1			174,250.00		173,300.91		01-Mar-2005		8.100%		MN - 85.00%		360		01-Dec-2004
1874934 1			157,000.00		155,611.38		01-Aug-2005		6.175%		CA - 52.33%		360		01-Dec-2004
1886820 1			328,000.00		326,215.59		01-Feb-2005		8.050%		CA - 80.00%		360		01-Dec-2004
1875816 1			301,750.00		299,279.14		01-Nov-2004		6.580%		CA - 85.00%		360		01-Dec-2004
1888782 1			81,000.00		80,682.33		01-Feb-2005		9.650%		LA - 90.00%		360		01-Dec-2004
1878555 1			99,450.00		98,955.94		01-Feb-2005		9.625%		CT - 65.00%		360		01-Nov-2004
1892722 1			171,000.00		170,167.42		01-Mar-2005		8.600%		CA - 60.00%		360		01-Dec-2004
1885195 1			220,000.00		219,198.76		01-Apr-2005		10.580%		NJ - 73.33%		360		01-Dec-2004
1895342 1			292,000.00		289,628.85		01-Dec-2004		5.990%		CA - 80.00%		360		01-Dec-2004
1887850 1			135,200.00		134,352.95		01-Apr-2005		7.950%		WA - 80.00%		360		01-Dec-2004
1898891 1			272,000.00		269,332.06		01-Mar-2005		6.275%		TX - 80.00%		360		01-Dec-2004
1888782 1			81,000.00		80,641.17		01-Feb-2005		9.650%		LA - 90.00%		360		01-Dec-2004
1900207 1			97,720.00		97,006.54		01-Feb-2005		6.550%		MN - 80.00%		360		01-Dec-2004
1892722 1			171,000.00		170,059.96		01-Mar-2005		8.600%		CA - 60.00%		360		01-Dec-2004
1900375 1			65,700.00		65,411.19		01-Feb-2005		9.100%		MI - 90.00%		360		01-Dec-2004
1893666 1			63,900.00		63,478.17		01-Mar-2005		7.850%		OK - 90.00%		360		01-Dec-2004
1900610 1			55,300.00		54,999.10		01-Feb-2005		8.050%		MS - 70.00%		360		01-Dec-2004
1893838 1			114,750.00		114,031.13		01-Apr-2005		7.950%		KS - 85.00%		360		01-Dec-2004
1901992 1			181,300.00		180,380.76		01-Mar-2005		8.400%		MI - 70.00%		360		01-Dec-2004
1894568 1			61,600.00		61,291.07		01-Apr-2005		9.050%		TX - 80.00%		360		01-Dec-2004
1904424 1			156,000.00		154,955.83		01-Feb-2005		7.000%		RI - 80.00%		360		01-Dec-2004
1898891 1			272,000.00		269,061.26		01-Mar-2005		6.275%		TX - 80.00%		360		01-Dec-2004
1905635 1			322,000.00		319,447.96		01-Mar-2005		6.750%		CA - 69.10%		360		01-Nov-2004
1900207 1			97,720.00		96,915.15		01-Feb-2005		6.550%		MN - 80.00%		360		01-Dec-2004
1907894 1			103,000.00		102,309.29		01-Mar-2005		6.990%		NM - 91.15%		360		01-Dec-2004
1900274 1			73,525.00		73,219.11		01-Apr-2005		9.950%		MS - 85.00%		360		01-Dec-2004
1908973 1			63,900.00		63,569.41		01-Jan-2005		8.300%		IN - 90.00%		360		01-Dec-2004
1900375 1			65,700.00		65,373.84		01-Feb-2005		9.100%		MI - 90.00%		360		01-Dec-2004
1909538 1			209,600.00		208,377.06		01-Jan-2005		7.700%		MD - 80.00%		360		01-Dec-2004
1900610 1			55,300.00		54,960.34		01-Feb-2005		8.050%		MS - 70.00%		360		01-Dec-2004
1912138 1			83,200.00		82,807.11		01-Mar-2005		8.750%		TX - 80.00%		360		01-Dec-2004
1901992 1			181,300.00		180,262.21		01-Mar-2005		8.400%		MI - 70.00%		360		01-Dec-2004
1903265 1			86,000.00		85,461.16		01-Apr-2005		7.950%		FL - 66.15%		360		01-Dec-2004
1904424 1			156,000.00		154,821.86		01-Feb-2005		7.000%		RI - 80.00%		360		01-Dec-2004
1907894 1			103,000.00		102,220.67		01-Mar-2005		6.990%		NM - 91.15%		360		01-Dec-2004
1908973 1			63,900.00		63,526.79		01-Jan-2005		8.300%		IN - 90.00%		360		01-Dec-2004
1909538 1			209,600.00		208,219.78		01-Jan-2005		7.700%		MD - 80.00%		360		01-Dec-2004
1910305 1			368,000.00		365,504.27		01-Apr-2005		7.550%		NJ - 80.00%		360		01-Dec-2004
1910394 1			175,000.00		173,903.64		01-Mar-2005		7.950%		CO - 79.55%		360		01-Dec-2004
1912138 1			83,200.00		82,756.37		01-Mar-2005		8.750%		TX - 80.00%		360		01-Dec-2004
1913384 1			135,200.00		135,200.00		01-Feb-2005		8.000%		MI - 80.00%		360		01-Dec-2004
1915274 1			200,000.00		200,000.00		01-Jan-2005		6.850%		NV - 80.00%		360		01-Dec-2004
1924176 1			212,500.00		211,~~442~~305.0657		01-Feb-2005		8.490%		NY - 85.00%		360		01-Dec-2004
1926647 1			153,000.00		152,~~125~~012.0141		01-Mar-2005		7.800%		CA - 90.00%		360		01-Dec-2004
1929649 1			227,000.00		225,~~450~~252.8617		01-Feb-2005		6.900%		CA - 89.02%		360		01-Dec-2004
1000054844 1			339,200.00		336,459.45		01-Jan-2005		6.650%		FL - 80.00%		360		01-Nov-2004
1931613 1			165,600.00		164,717.05		01-Apr-2005		8.750%		GA - 80.00%		360		01-Dec-2004
1000075091 1			328,500.00		326,884.32		01-Jan-2005		8.550%		FL - 90.00%		360		01-Dec-2004
1935464 1			71,240.00		70,930.88		01-Apr-2005		9.750%		TX - 74.99%		360		01-Dec-2004
1659937 2			294,500.00		291,890.63		01-Mar-2005		7.850%		CO - 95.00%		360		01-Aug-2004
Page 14 of 32
Morgan Stanley ABS Capital I Inc. 2005-NC1
Mortgage Pass-Through Certificates
2005-NC1
August 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
1000035223 1
			238,000.00		236,743.86		01-Dec-2004		8.800%		CA - 85.00%		360		01-Dec-2004
1000071068 1			291,000.00		289,317.46		01-Apr-2005		8.350%		CA - 67.67%		360		01-Dec-2004
1000075091 1			328,500.00		326,675.83		01-Jan-2005		8.550%		FL - 90.00%		360		01-Dec-2004
1597580 2			247,000.00		244,990.14		01-Mar-2005		8.550%		GA - 95.00%		360		01-Aug-2004
1659937 2			294,500.00		291,669.85		01-Mar-2005		7.850%		CO - 95.00%		360		01-Aug-2004
1719694 2			108,000.00		107,879.90		01-Feb-2005		9.500%		IL - 80.00%		360		01-Nov-2004
1789987 2			512,000.00		508,~~566~~125.4694		01-Mar-2005		6.990%		MI - 80.00%		360		01-Dec-2004
1790318 2			332,000.00		329,189.98		01-Apr-2005		7.800%		MD - 80.00%		360		01-Nov-2004
1813035 2			194,400.00		194,400.00		01-Feb-2005		8.100%		CO - 90.00%		360		01-Oct-2004
1816179 2			540,000.00		536,722.90		01-Mar-2005		7.500%		NY - 75.52%		360		01-Dec-2004
1816390 2			50,400.00		50,123.76		01-Jul-2005		9.150%		PA - 90.00%		360		01-Nov-2004
1819190 2			135,440.00		134,313.79		01-Feb-2005		6.500%		TX - 80.00%		360		01-Nov-2004
1818690 2			356,250.00		356,250.00		01-Mar-2005		6.200%		IL - 75.00%		360		01-Nov-2004
1821993 2			118,400.00		117,965.27		01-Feb-2005		10.075%		IL - 80.00%		360		01-Dec-2004
1819190 2			135,440.00		134,185.24		01-Feb-2005		6.500%		TX - 80.00%		360		01-Nov-2004
1831988 2			380,000.00		378,430.32		01-Dec-2004		9.400%		OH - 80.00%		360		01-Dec-2004
1821993 2			118,400.00		117,910.07		01-Feb-2005		10.075%		IL - 80.00%		360		01-Dec-2004
Page 14 of 31
1831988 2			380,000.00		378,227.13		01-Dec-2004		9.400%		OH - 80.00%		360		01-Dec-2004
1832378 2			51,000.00		50,787.83		01-Mar-2005		9.950%		FL - 85.00%		360		01-Dec-2004
1836402 2			248,245.00		246,628.38		01-Dec-2004		8.300%		TX - 91.94%		360		01-Nov-2004
1836871 2			168,000.00		166,676.59		01-Mar-2005		7.050%		RI - 80.00%		360		01-Dec-2004
1839168 2			166,500.00		165,546.99		01-Dec-2004		8.400%		MI - 90.00%		360		01-Dec-2004
1841472 2			136,000.00		135,038.19		01-Apr-2005		8.050%		CA - 80.00%		360		01-Dec-2004
1847453 2			364,000.00		360,453.99		01-Apr-2005		6.750%		CA - 80.00%		360		01-Oct-2004
1848433 2			321,750.00		319,590.82		01-Apr-2005		8.150%		NJ - 90.00%		360		01-Nov-2004
1850545 2			293,600.00		291,358.69		01-Feb-2005		7.500%		IL - 80.00%		360		01-Nov-2004
1853078 2			174,400.00		173,386.52		01-Feb-2005		8.325%		GA - 80.00%		360		01-Dec-2004
1854577 2			157,250.00		156,493.24		01-Apr-2005		9.250%		IL - 85.00%		360		01-Dec-2004
1856026 2			301,500.00		299,475.37		01-Jan-2005		7.600%		NY - 90.00%		360		01-Dec-2004
1856196 2			296,000.00		293,828.61		01-Dec-2004		6.525%		NJ - 80.00%		360		01-Dec-2004
1862689 2			238,000.00		236,417.48		01-Jan-2005		7.650%		MI - 85.00%		360		01-Dec-2004
1866225 2			136,000.00		135,002.43		01-Feb-2005		7.150%		OH - 80.00%		360		01-Dec-2004
1867800 2			360,000.00		357,485.48		01-Mar-2005		7.400%		MA - 90.00%		360		01-Dec-2004
1871959 2			91,000.00		90,494.68		01-Mar-2005		8.550%		LA - 61.49%		360		01-Dec-2004
1873000 2			73,600.00		73,110.57		01-Feb-2005		7.650%		TX - 80.00%		360		01-Dec-2004
1873591 2			62,000.00		61,683.94		01-Mar-2005		9.500%		NM - 68.89%		360		01-Nov-2004
1874221 2			117,600.00		116,994.94		01-Apr-2005		8.950%		TX - 80.00%		360		01-Dec-2004
1875545 2			164,000.00		162,876.72		01-Feb-2005		7.500%		MN - 80.00%		360		01-Dec-2004
1884303 2			52,650.00		52,418.70		01-Mar-2005		10.450%		NE - 65.00%		360		01-Dec-2004
1884359 2			414,000.00		414,000.00		01-Apr-2005		7.500%		CA - 90.00%		360		01-Dec-2004
1884771 2			218,500.00		216,644.65		01-Jul-2005		6.390%		CA - 65.22%		360		01-Dec-2004
1886068 2			52,000.00		51,754.82		01-Jan-2005		9.350%		FL - 80.00%		360		01-Dec-2004
1889030 2			184,500.00		182,917.05		01-Feb-2005		6.900%		CO - 90.00%		360		01-Nov-2004
1895620 2			132,000.00		131,197.46		01-Apr-2005		8.100%		TX - 80.00%		360		01-Dec-2004
1902838 2			182,250.00		180,777.47		01-Apr-2005		6.650%		MA - 75.00%		360		01-Dec-2004
1904317 2			424,400.00		424,400.00		01-Mar-2005		5.700%		CA - 80.00%		360		01-Dec-2004
1907313 2			116,000.00		115,285.10		01-Apr-2005		8.750%		WA - 80.00%		360		01-Dec-2004
1907679 2			94,500.00		93,868.51		01-Jan-2005		7.625%		DC - 90.00%		360		01-Dec-2004
1907737 2			128,250.00		127,478.04		01-Jan-2005		8.150%		PA - 90.00%		360		01-Dec-2004
1907804 2			50,000.00		48,647.14		01-Mar-2005		7.850%		NC - 79.37%		180		01-Dec-2004
1907854 2			233,750.00		232,725.00		01-Jan-2005		9.700%		OK - 85.00%		360		01-Dec-2004
1909183 2			512,505.00		509,326.17		01-Apr-2005		8.000%		NC - 89.93%		360		01-Dec-2004
1909347 2			400,000.00		396,920.15		01-Dec-2004		6.900%		NY - 80.00%		360		01-Dec-2004
1909621 2			116,000.00		115,458.81		01-Mar-2005		9.400%		CO - 80.00%		360		01-Dec-2004
1912709 2			96,000.00		95,542.77		01-Dec-2004		9.300%		IN - 80.00%		360		01-Dec-2004
Page 15 of 32
Morgan Stanley ABS Capital I Inc. 2005-NC1
Mortgage Pass-Through Certificates
2005-NC1
July 25, 2005 Distribution
August 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
1833696 2
1918148 2
			105,000.00		104,613.29		01-Jan-2005		9.950%		MO - 75.00%		360		01-Dec-2004
			113,600.00		112,994.25		01-Jan-2005		8.750%		MI - 80.00%		360		01-Dec-2004
1836402 2			248,245.00		246,795.10		01-Dec-2004		8.300%		TX - 91.94%		360		01-Nov-2004
1919231 2			172,000.00		170,900.80		01-Apr-2005		7.850%		MA - 56.03%		360		01-Dec-2004
1836871 2			168,000.00		166,819.88		01-Mar-2005		7.050%		RI - 80.00%		360		01-Dec-2004
1926790 2			145,600.00		144,327.34		01-Apr-2005		6.250%		OR - 80.00%		360		01-Dec-2004
1839168 2			166,500.00		165,655.86		01-Dec-2004		8.400%		MI - 90.00%		360		01-Dec-2004
1927180 2			59,250.00		58,863.00		01-Mar-2005		7.750%		MI - 75.00%		360		01-Dec-2004
1850545 2			293,600.00		291,589.16		01-Feb-2005		7.500%		IL - 80.00%		360		01-Nov-2004
1928214 2			122,550.00		121,994.53		01-Dec-2004		8.950%		MN - 95.00%		360		01-Jan-2005
1853078 2			174,400.00		173,502.27		01-Feb-2005		8.325%		GA - 80.00%		360		01-Dec-2004
1929723 2			221,000.00		219,486.37		01-Mar-2005		7.500%		MI - 85.00%		360		01-Dec-2004
1856026 2			301,500.00		299,706.05		01-Jan-2005		7.600%		NY - 90.00%		360		01-Dec-2004
1934394 2			211,500.00		210,289.38		01-Mar-2005		8.400%		TX - 90.00%		360		01-Dec-2004
1862689 2			238,000.00		236,597.82		01-Jan-2005		7.650%		MI - 85.00%		360		01-Dec-2004
1866225 2			136,000.00		135,115.92		01-Feb-2005		7.150%		OH - 80.00%		360		01-Dec-2004
1866526 2			176,792.00		175,686.94		01-Mar-2005		7.350%		NV - 80.00%		360		01-Dec-2004
1871959 2			91,000.00		90,552.43		01-Mar-2005		8.550%		LA - 61.49%		360		01-Dec-2004
1873000 2			73,600.00		73,166.34		01-Feb-2005		7.650%		TX - 80.00%		360		01-Dec-2004
1875545 2			164,000.00		163,004.66		01-Feb-2005		7.500%		MN - 80.00%		360		01-Dec-2004
1884303 2			52,650.00		52,441.67		01-Feb-2005		10.450%		NE - 65.00%		360		01-Dec-2004
1884771 2			218,500.00		216,855.21		01-Feb-2005		6.390%		CA - 65.22%		360		01-Dec-2004
1886068 2			52,000.00		51,782.91		01-Jan-2005		9.350%		FL - 80.00%		360		01-Dec-2004
1888777 2			106,250.00		105,640.96		01-Mar-2005		7.788%		NV - 85.00%		360		01-Dec-2004
1889030 2			184,500.00		183,079.46		01-Feb-2005		6.900%		CO - 90.00%		360		01-Nov-2004
1894307 2			589,500.00		586,260.86		01-Mar-2005		8.000%		MA - 90.00%		360		01-Dec-2004
1900087 2			67,200.00		66,823.26		01-Feb-2005		7.900%		TX - 80.00%		360		01-Dec-2004
1901842 2			140,800.00		139,777.00		01-Feb-2005		6.575%		NH - 80.00%		360		01-Dec-2004
1902033 2			249,559.00		249,559.00		01-Apr-2005		6.825%		IL - 80.00%		360		01-Dec-2004
1904317 2			424,400.00		424,400.00		01-Mar-2005		5.700%		CA - 80.00%		360		01-Dec-2004
1907679 2			94,500.00		93,940.47		01-Jan-2005		7.625%		DC - 90.00%		360		01-Dec-2004
1907804 2			50,000.00		48,801.41		01-Mar-2005		7.850%		NC - 79.37%		180		01-Dec-2004
1907854 2			233,750.00		232,842.56		01-Jan-2005		9.700%		OK - 85.00%		360		01-Dec-2004
1909347 2			400,000.00		397,270.26		01-Dec-2004		6.900%		NY - 80.00%		360		01-Dec-2004
1909621 2			116,000.00		115,520.84		01-Mar-2005		9.400%		CO - 80.00%		360		01-Dec-2004
1912709 2			96,000.00		95,595.16		01-Dec-2004		9.300%		IN - 80.00%		360		01-Dec-2004
1918148 2			113,600.00		113,063.53		01-Jan-2005		8.750%		MI - 80.00%		360		01-Dec-2004
1928214 2			122,550.00		122,065.78		01-Dec-2004		8.950%		MN - 95.00%		360		01-Jan-2005
1929723 2			221,000.00		219,658.77		01-Mar-2005		7.500%		MI - 85.00%		360		01-Dec-2004
1936171 2			154,400.00		154,362.51		01-Feb-2005		5.800%		CO - 80.00%		360		01-Dec-2004
1941558 2			80,000.00		79,489.05		01-Feb-2005		7.240%		IL - 55.17%		360		01-Dec-2004
1937035 2			227,500.00		226,335.57		01-Feb-2005		8.950%		NJ - 68.94%		360		01-Dec-2004
1942424 2			295,800.00		294,678.44		01-Jan-2005		9.150%		MA - 85.00%		360		01-Jan-2005
1942418 2			106,800.00		106,110.60		01-Feb-2005		7.800%		MN - 80.00%		360		01-Dec-2004
1942780 2			78,000.00		77,631.60		01-Mar-2005		8.750%		TN - 100.00%		360		01-Dec-2004
1942424 2			295,800.00		294,513.29		01-Jan-2005		9.150%		MA - 85.00%		360		01-Jan-2005
1948430 2			113,900.00		113,~~419~~357.6549		01-Jan-2005		9.300%		TX - 85.00%		360		01-Dec-2004
1000031147 2			112,300.00		111,700.94		01-May-2005		8.150%		AL - 89.13%		360		01-Dec-2004
1000054620 2			270,000.00		268,321.95		01-Apr-2005		7.990%		CA - 75.00%		360		01-Dec-2004
1000072325 2			95,000.00		94,546.79		01-Mar-2005		8.700%		FL - 50.53%		360		01-Dec-2004
1000093936 2			117,325.00		116,765.33		01-Feb-2005		8.700%		IN - 95.00%		360		01-Jan-2005
1000093936 2			117,325.00		116,837.07		01-Feb-2005		8.700%		IN - 95.00%		360		01-Jan-2005
1000095186 2			212,000.00		210,846.43		01-Mar-2005		8.650%		NJ - 68.39%		360		01-Dec-2004
1000096087 2			380,210.00		~~378~~377,~~275~~992.6012		01-Mar-2005		7.700%		MI - 89.06%		360		01-Jan-2005
1000098101 2			103,500.00		102,~~757~~662.0910		01-Feb-2005		6.650%		OH - 90.00%		360		01-Dec-2004
1000099752 2			188,715.00		187,~~758~~634.1878		01-Mar-2005		8.400%		MN - 90.00%		360		01-Dec-2004
TOTAL			1621,~~746~~191,~~475~~844.00		1621,~~656~~064,~~030~~431.9291
Page 15 of 31
Page 16 of 32
Morgan Stanley ABS Capital I Inc. 2005-NC1
Mortgage Pass-Through Certificates
2005-NC1
July 25, 2005 Distribution
August 25, 2005 Distribution
Prepayment Report
VOLUNTARY PREPAYMENTS
											Group 2		Group 1		Total
Current
Number of Paid in Full Loans										~~134~~137		~~118~~101		~~252~~238
Number of Repurchased Loans										0		0		0
Total Number of Loans Prepaid in Full										~~134~~137		~~118~~101		~~252~~238
Curtailments Amount										923,~~372~~241.1588		3878,~~089~~886.7399		47102,~~461~~128.8887
Paid in Full Balance										3031,~~463~~429,~~504~~966.2001		2320,~~375~~028,~~128~~717.3487		5351,~~838~~458,~~632~~683.5488
Repurchased Loans Balance										0.00		0.00		0.00
Total Prepayment Amount										3031,~~472~~453,~~876~~207.3589		2320,~~413~~107,~~218~~604.0786		5351,~~886~~560,~~094~~812.4275
Cumulative
Number of Paid in Full Loans										~~506~~643		~~445~~546		~~951~~1,189
Number of Repurchased Loans										1		5		6
Total Number of Loans Prepaid in Full										~~507~~644		~~450~~551		~~957~~1,195
Paid in Full Balance										~~123~~154,~~025~~455,~~465~~431.7273		91111,~~303~~332,~~502~~220.1401		~~214~~265,~~328~~787,~~967~~651.8674
Repurchased Loans Balance										361,184.88		1,399,270.78		1,760,455.66
Curtailments Amount										~~240~~263,~~589~~831.8068		~~277~~356,~~452~~339.4847		~~518~~620,~~042~~171.2815
Total Prepayment Amount										~~123~~155,~~627~~080,~~240~~448.4029		92113,~~980~~087,~~225~~830.4026		~~216~~268,~~607~~168,~~465~~278.8055
Page 16 of 31
Page 17 of 32
Morgan Stanley ABS Capital I Inc. 2005-NC1
Mortgage Pass-Through Certificates
2005-NC1
July 25, 2005 Distribution
August 25, 2005 Distribution
VOLUNTARY PREPAYMENTS RATES
											Group 2		Group 1		Total
SMM										34.7503%		4.4803%		4.0403%
3 Months Avg SMM										3.1662%		4.0339%		3.5092%
12 Months Avg SMM										23.8908%		3.3647%		3.0723%
Avg SMM Since Cut-off										23.8908%		3.3647%		3.0723%
CPR										3638.7992%		4238.3298%		3938.0195%
3 Months Avg CPR										3235.0178%		3841.9463%		3438.8214%
12 Months Avg CPR										2931.6630%		3334.6154%		3132.2459%
Avg CPR Since Cut-off										2931.6630%		3334.6154%		3132.2459%
PSA										2,~~267~~136.4922%		2,~~597~~129.0198%		2,~~400~~133.2178%
3 Months Avg PSA Approximation										2,~~249~~205.5420%		2,~~723~~554.3047%		2,~~442~~346.4176%
12 Months Avg PSA Approximation										2,~~424~~365.8053%		2,~~732~~596.0336%		2,~~547~~457.9982%
Avg PSA Since Cut-off Approximation										2,~~424~~365.8054%		2,~~732~~596.0336%		2,~~547~~457.9982%
Page 17 of 31
Page 18 of 32
Morgan Stanley ABS Capital I Inc. 2005-NC1
Mortgage Pass-Through Certificates
2005-NC1
July 25, 2005 Distribution
August 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 18 of 31
Page 19 of 32
Morgan Stanley ABS Capital I Inc. 2005-NC1
Mortgage Pass-Through Certificates
2005-NC1
July 25, 2005 Distribution
August 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
1606532 2			198,000.00		196,364.54			30-Jun-2005		7.600%		FL - 90.00%		Paid Off - 360		01-Aug-2004
1613597 2			105,400.00		104,443.31			08-Jul-2005		9.250%		ND - 85.00%		Paid Off - 360		01-Aug-2004
1655409 2			194,000.00		192,267.29			30-Jun-2005		7.200%		CA - 71.85%		Paid Off - 360		01-Aug-2004
1654767 1			195,000.00		193,753.78			18-Jul-2005		7.850%		CA - 75.00%		Paid Off - 360		01-Nov-2004
1670535 1			140,000.00		139,231.06			30-Jun-2005		7.313%		NJ - 50.00%		Paid Off - 360		01-Dec-2004
1672741 2			105,000.00		104,670.08			01-Aug-2005		10.700%		VA - 70.00%		Paid Off - 360		01-Dec-2004
1671929 2			439,800.00		439,800.00			22-Jun-2005		5.850%		CA - 79.99%		Paid Off - 360		01-Dec-2004
1679628 1			197,600.00		196,516.24			02-Aug-2005		8.300%		CA - 80.00%		Paid Off - 360		01-Dec-2004
1736853 2			441,000.00		438,401.90			28-Jun-2005		7.650%		NJ - 90.00%		Paid Off - 360		01-Nov-2004
1690283 2			138,000.00		137,152.57			08-Aug-2005		7.450%		CA - 49.29%		Paid Off - 360		01-Dec-2004
1756221 1			308,000.00		305,708.02			24-Jun-2005		6.450%		CA - 72.47%		Paid Off - 360		01-Nov-2004
1701030 2			110,000.00		109,573.09			19-Jul-2005		9.700%		FL - 61.11%		Paid Off - 360		01-Dec-2004
1765143 1			188,000.00		186,653.61			22-Jun-2005		6.650%		CA - 80.00%		Paid Off - 360		01-Nov-2004
1727004 2			320,000.00		317,746.91			20-Jul-2005		7.990%		NJ - 87.67%		Paid Off - 360		01-Oct-2004
1789609 1			314,499.00		312,703.95			24-Jun-2005		8.850%		CA - 85.00%		Paid Off - 360		01-Oct-2004
1735665 1			202,500.00		201,493.93			26-Jul-2005		8.500%		RI - 90.00%		Paid Off - 360		01-Dec-2004
1808918 2			150,000.00		149,080.61			12-Jul-2005		7.450%		IL - 78.95%		Paid Off - 360		01-Nov-2004
1759425 1			123,750.00		120,359.72			29-Jul-2005		8.975%		CA - 90.00%		Paid Off - 180		01-Oct-2004
1810088 1			282,088.00		280,202.88			29-Jun-2005		6.300%		CA - 79.74%		Paid Off - 360		01-Dec-2004
1771469 2			463,500.00		460,474.92			12-Aug-2005		7.750%		CA - 90.00%		Paid Off - 360		01-Nov-2004
1815475 2			183,750.00		182,725.08			30-Jun-2005		7.925%		NJ - 75.00%		Paid Off - 360		01-Nov-2004
1779105 1			319,200.00		317,262.82			04-Aug-2005		7.500%		CA - 95.00%		Paid Off - 360		01-Dec-2004
1818329 1			151,650.00		150,559.16			28-Jun-2005		7.250%		AZ - 81.97%		Paid Off - 360		01-Oct-2004
1787769 2			225,000.00		223,685.80			11-Aug-2005		8.350%		NY - 56.25%		Paid Off - 360		01-Nov-2004
1820562 2			216,000.00		214,933.38			28-Jun-2005		7.850%		NJ - 90.00%		Paid Off - 360		01-Dec-2004
1792790 2			143,920.00		143,875.47			02-Aug-2005		6.150%		CO - 80.00%		Paid Off - 360		01-Oct-2004
1821155 1			468,000.00		465,237.03			29-Jun-2005		6.950%		HI - 90.00%		Paid Off - 360		01-Dec-2004
1798825 2			166,500.00		165,383.49			20-Jul-2005		7.100%		FL - 90.00%		Paid Off - 360		01-Dec-2004
1821208 1			165,750.00		164,703.78			16-Jun-2005		7.300%		NJ - 85.00%		Paid Off - 360		01-Nov-2004
1802843 2			400,000.00		398,032.74			04-Aug-2005		8.550%		NY - 88.89%		Paid Off - 360		01-Dec-2004
1832017 1			351,200.00		351,199.80			30-Jun-2005		7.000%		CA - 80.00%		Paid Off - 360		01-Nov-2004
1805813 1			164,000.00		163,343.35			02-Aug-2005		9.550%		SC - 83.25%		Paid Off - 360		01-Dec-2004
1834930 2			181,300.00		180,637.00			28-Jun-2005		9.325%		NJ - 70.00%		Paid Off - 360		01-Dec-2004
1806444 2			127,800.00		127,054.47			02-Aug-2005		7.700%		NH - 90.00%		Paid Off - 360		01-Dec-2004
1835879 1			235,000.00		233,587.19			27-Jun-2005		6.850%		CA - 73.44%		Paid Off - 360		01-Dec-2004
1810536 2			164,000.00		163,172.65			05-Aug-2005		8.425%		HI - 80.00%		Paid Off - 360		01-Dec-2004
1837034 2			179,250.00		178,373.67			30-Jun-2005		7.900%		RI - 75.00%		Paid Off - 360		01-Dec-2004
1813191 1			117,200.00		117,198.17			25-Jul-2005		6.450%		CA - 80.00%		Paid Off - 360		01-Dec-2004
1838068 2			199,600.00		198,408.13			30-Jun-2005		7.000%		NJ - 80.00%		Paid Off - 360		01-Dec-2004
1814838 2			186,750.00		185,744.12			21-Jul-2005		8.700%		AZ - 90.00%		Paid Off - 360		01-Nov-2004
1840134 1			164,000.00		162,791.19			13-Jul-2005		6.500%		CA - 84.10%		Paid Off - 360		01-Nov-2004
1815220 2			166,400.00		165,231.01			28-Jul-2005		6.750%		NV - 80.00%		Paid Off - 360		01-Dec-2004
1842323 1			219,000.00		217,801.56			12-Jul-2005		8.025%		NJ - 75.00%		Paid Off - 360		01-Nov-2004
1816158 1			151,650.00		150,803.51			28-Jul-2005		8.550%		NJ - 90.00%		Paid Off - 360		01-Dec-2004
1844728 2			161,000.00		160,302.58			24-Jun-2005		8.500%		FL - 44.72%		Paid Off - 360		01-Dec-2004
1821361 2			95,600.00		94,976.26			03-Aug-2005		7.875%		NM - 80.00%		Paid Off - 360		01-Nov-2004
1845955 2			220,000.00		218,855.14			07-Jul-2005		7.700%		NY - 80.00%		Paid Off - 360		01-Dec-2004
1823550 1			108,750.00		108,269.58			03-Aug-2005		9.075%		FL - 76.58%		Paid Off - 360		01-Dec-2004
1846478 1			175,000.00		173,192.53			08-Jul-2005		6.000%		HI - 66.04%		Paid Off - 360		01-Dec-2004
1824921 1			88,650.00		88,191.59			25-Jul-2005		8.900%		NM - 90.00%		Paid Off - 360		01-Nov-2004
1847580 2			303,200.00		301,363.99			16-Jun-2005		7.750%		OR - 80.00%		Paid Off - 360		01-Nov-2004
1830760 1			156,800.00		155,988.00			20-Jul-2005		8.450%		TX - 80.00%		Paid Off - 360		01-Dec-2004
1849447 1			86,250.00		85,822.33			28-Jun-2005		8.800%		FL - 75.00%		Paid Off - 360		01-Dec-2004
1833337 2			561,000.00		556,722.22			02-Aug-2005		6.950%		CA - 85.00%		Paid Off - 360		01-Nov-2004
1850525 1		FCL	86,400.00		86,181.87			01-Jul-2005		11.075%		WA - 60.00%		Paid Off - 360		01-Dec-2004
1834105 1			131,000.00		130,218.91			29-Jul-2005		8.200%		MO - 92.25%		Paid Off - 360		01-Nov-2004
1850599 1			126,000.00		125,249.78			16-Jun-2005		6.900%		IL - 72.83%		Paid Off - 360		01-Dec-2004
1836404 2			236,600.00		235,146.28			28-Jul-2005		7.500%		NV - 70.00%		Paid Off - 360		01-Dec-2004
1851939 1			261,000.00		260,998.60			29-Jun-2005		7.250%		CA - 90.00%		Paid Off - 360		01-Dec-2004
1838098 2			360,000.00		358,588.26			21-Jul-2005		9.650%		NJ - 80.00%		Paid Off - 360		01-Dec-2004
1852302 2			70,400.00		70,060.27			14-Jul-2005		8.650%		MI - 80.00%		Paid Off - 360		01-Nov-2004
1839262 2			445,500.00		444,470.04			08-Jul-2005		7.400%		CA - 90.00%		Paid Off - 360		01-Nov-2004
1853032 1			225,000.00		219,704.10			21-Jun-2005		6.450%		CA - 56.25%		Paid Off - 180		01-Dec-2004
1839348 1			78,200.00		77,856.32			20-Jul-2005		9.100%		NC - 85.00%		Paid Off - 360		01-Dec-2004
1853717 2			488,000.00		484,420.25			13-Jul-2005		6.525%		CA - 80.00%		Paid Off - 360		01-Nov-2004
1840206 2			188,700.00		187,469.92			02-Aug-2005		7.750%		NJ - 85.00%		Paid Off - 360		01-Nov-2004
1855239 1			140,250.00		138,980.27			23-Jun-2005		7.400%		KY - 85.00%		Paid Off - 360		01-Dec-2004
1842009 1			300,000.00		298,030.78			03-Aug-2005		7.100%		NJ - 54.55%		Paid Off - 360		01-Dec-2004
1856442 1			241,875.00		240,623.65			29-Jun-2005		8.300%		IL - 90.00%		Paid Off - 360		01-Nov-2004
1843468 2			153,000.00		152,266.38			02-Aug-2005		8.675%		IL - 85.00%		Paid Off - 360		01-Dec-2004
1857585 2			136,000.00		135,340.89			30-Jun-2005		7.150%		FL - 80.00%		Paid Off - 360		01-Jan-2005
1843677 2			425,000.00		421,530.80			29-Jul-2005		6.725%		CA - 73.91%		Paid Off - 360		01-Nov-2004
1858424 1			170,250.00		169,463.38			07-Jul-2005		8.625%		CA - 75.00%		Paid Off - 360		01-Dec-2004
1844565 1			248,040.00		246,704.04			19-Jul-2005		8.100%		NY - 90.00%		Paid Off - 360		01-Dec-2004
Page 19 of 31
Page 20 of 32
Morgan Stanley ABS Capital I Inc. 2005-NC1
Mortgage Pass-Through Certificates
2005-NC1
July 25, 2005 Distribution
August 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
1858490 2			268,000.00		266,015.16			13-Jul-2005		6.475%		VA - 87.87%		Paid Off - 360		01-Nov-2004
1845100 2			340,000.00		336,886.23			01-Aug-2005		5.990%		CA - 80.00%		Paid Off - 360		01-Nov-2004
1859373 1			111,822.00		#######			01-Jun-2005		7.000%		TN - 80.00%		Paid Off - 360		01-Dec-2004
1846371 2			308,800.00		306,944.38			29-Jul-2005		7.550%		MA - 80.00%		Paid Off - 360		01-Dec-2004
1859808 2			184,000.00		182,943.36			27-Jun-2005		7.200%		ME - 76.67%		Paid Off - 360		01-Dec-2004
1848954 2			143,650.00		142,958.66			18-Jul-2005		9.250%		AR - 85.00%		Paid Off - 360		01-Nov-2004
1860578 2			500,000.00		500,000.00			28-Jun-2005		6.950%		MA - 89.29%		Paid Off - 360		01-Nov-2004
1851504 2			301,600.00		299,290.28			01-Aug-2005		6.300%		CA - 80.00%		Paid Off - 360		01-Dec-2004
1860629 2			166,400.00		166,384.71			30-Jun-2005		7.300%		CA - 80.00%		Paid Off - 360		01-Nov-2004
1853213 2			210,000.00		209,098.80			12-Aug-2005		10.350%		CA - 53.16%		Paid Off - 360		01-Nov-2004
1861810 1			99,000.00		98,562.36			29-Jun-2005		8.400%		CA - 90.00%		Paid Off - 360		01-Dec-2004
1857146 2			320,000.00		319,859.36			26-Jul-2005		6.400%		CA - 80.00%		Paid Off - 360		01-Nov-2004
1864499 2			499,999.00		496,781.69			05-Jul-2005		6.600%		CA - 70.92%		Paid Off - 360		01-Dec-2004
1857447 1			127,000.00		126,288.01			22-Jul-2005		7.900%		CT - 89.44%		Paid Off - 360		01-Dec-2004
1865232 1			221,000.00		219,815.02			14-Jul-2005		7.950%		NJ - 71.29%		Paid Off - 360		01-Dec-2004
1857456 2			428,500.00		425,124.00			27-Jul-2005		6.150%		CA - 58.98%		Paid Off - 360		01-Dec-2004
1865598 1			143,000.00		141,884.00			07-Jul-2005		6.200%		NC - 75.66%		Paid Off - 360		01-Nov-2004
1857772 2			92,000.00		91,656.57			28-Jul-2005		9.900%		WI - 100.00%		Paid Off - 360		01-Dec-2004
1866691 1			233,600.00		231,910.87			23-Jun-2005		6.600%		MN - 80.00%		Paid Off - 360		01-Nov-2004
1858393 2			130,000.00		129,278.11			22-Jul-2005		8.550%		CA - 75.58%		Paid Off - 360		01-Nov-2004
1868106 1			137,500.00		136,631.40			07-Jul-2005		6.700%		GA - 94.83%		Paid Off - 360		01-Dec-2004
1859251 2			101,500.00		100,953.33			02-Aug-2005		8.100%		IL - 70.00%		Paid Off - 360		01-Dec-2004
1868974 2			74,750.00		73,531.26			21-Jun-2005		8.650%		PA - 84.94%		Paid Off - 360		01-Nov-2004
1861418 1			182,700.00		181,544.04			05-Aug-2005		7.900%		CA - 63.00%		Paid Off - 360		01-Nov-2004
1869479 2			436,000.00		432,644.41			12-Jul-2005		5.550%		CA - 80.00%		Paid Off - 360		01-Dec-2004
1861436 1			167,000.00		165,876.38			26-Jul-2005		6.975%		NV - 66.80%		Paid Off - 360		01-Dec-2004
1869756 1			238,500.00		237,339.81			05-Jul-2005		7.925%		CA - 90.00%		Paid Off - 360		01-Dec-2004
1862852 2			315,000.00		312,926.12			22-Jul-2005		7.700%		NY - 90.00%		Paid Off - 360		01-Nov-2004
1870082 1			332,500.00		331,059.65			13-Jul-2005		8.500%		MI - 95.00%		Paid Off - 360		01-Dec-2004
1863320 2			152,000.00		151,082.09			25-Jul-2005		7.525%		NM - 80.00%		Paid Off - 360		01-Dec-2004
1870819 2			500,000.00		496,964.72			17-Jun-2005		6.800%		CA - 83.33%		Paid Off - 360		01-Dec-2004
1866526 2			176,792.00		175,686.94			25-Jul-2005		7.350%		NV - 80.00%		Paid Off - 360		01-Dec-2004
1871702 2			380,950.00		380,950.00			16-Jun-2005		6.350%		CA - 80.00%		Paid Off - 360		01-Dec-2004
1866781 2			217,853.00		217,852.10			28-Jul-2005		7.750%		NV - 80.00%		Paid Off - 360		01-Dec-2004
1871841 1			54,000.00		53,733.55			24-Jun-2005		8.200%		NM - 90.00%		Paid Off - 360		01-Dec-2004
1867452 2			365,500.00		362,565.49			02-Aug-2005		6.050%		NJ - 85.00%		Paid Off - 360		01-Dec-2004
1872128 2			139,500.00		138,887.17			30-Jun-2005		8.350%		NJ - 90.00%		Paid Off - 360		01-Dec-2004
1867763 2			356,000.00		356,000.00			28-Jul-2005		6.500%		CA - 80.00%		Paid Off - 360		01-Nov-2004
1872195 1			195,500.00		194,194.25			07-Jul-2005		6.975%		MD - 85.00%		Paid Off - 360		01-Dec-2004
1868050 1			199,920.00		199,920.00			02-Aug-2005		7.750%		CA - 80.00%		Paid Off - 360		01-Dec-2004
1873665 2			200,000.00		199,942.59			16-Jun-2005		6.850%		CO - 80.00%		Paid Off - 360		01-Dec-2004
1868078 1			210,000.00		208,422.23			02-Aug-2005		6.400%		VA - 66.88%		Paid Off - 360		01-Dec-2004
1873841 1			160,000.00		157,992.16			20-Jun-2005		7.500%		CA - 52.81%		Paid Off - 360		01-Dec-2004
1868457 2			495,000.00		491,386.21			03-Aug-2005		6.550%		CA - 83.19%		Paid Off - 360		01-Dec-2004
1874301 2			131,975.00		131,282.58			06-Jul-2005		7.600%		IL - 69.46%		Paid Off - 360		01-Dec-2004
1868894 1			160,000.00		159,003.18			18-Jul-2005		7.990%		CA - 80.00%		Paid Off - 360		01-Dec-2004
1874329 2			187,500.00		185,160.61			13-Jul-2005		7.800%		MD - 75.00%		Paid Off - 360		01-Dec-2004
1869092 1			219,000.00		217,500.11			01-Aug-2005		7.500%		CA - 65.77%		Paid Off - 360		01-Nov-2004
1875206 1			94,000.00		93,404.03			05-Jul-2005		6.575%		FL - 75.20%		Paid Off - 360		01-Dec-2004
1869770 1			99,000.00		98,503.13			04-Aug-2005		8.450%		GA - 90.00%		Paid Off - 360		01-Dec-2004
1876027 2			600,000.00		596,322.27			23-Jun-2005		6.750%		NV - 80.00%		Paid Off - 360		01-Dec-2004
1870278 1			120,000.00		119,144.69			03-Aug-2005		6.675%		MD - 68.57%		Paid Off - 360		01-Dec-2004
1876068 1			185,000.00		183,447.37			08-Jul-2005		5.990%		HI - 84.09%		Paid Off - 360		01-Dec-2004
1872126 1			191,000.00		189,853.19			18-Jul-2005		7.563%		IL - 79.58%		Paid Off - 360		01-Dec-2004
1876211 2			131,100.00		130,224.16			14-Jul-2005		6.650%		OR - 69.99%		Paid Off - 360		01-Dec-2004
1872538 1			318,750.00		318,664.34			27-Jul-2005		6.450%		CA - 85.00%		Paid Off - 360		01-Dec-2004
1876237 2			119,000.00		118,691.32			23-Jun-2005		10.950%		WI - 70.00%		Paid Off - 360		01-Dec-2004
1873543 2			314,500.00		312,529.78			03-Aug-2005		7.950%		WA - 85.00%		Paid Off - 360		01-Nov-2004
1876629 2			400,000.00		400,000.00			12-Jul-2005		6.650%		CA - 71.43%		Paid Off - 360		01-Dec-2004
1874067 1			158,000.00		157,086.45			19-Jul-2005		8.350%		CA - 71.82%		Paid Off - 360		01-Nov-2004
1876824 2			133,750.00		133,102.58			21-Jun-2005		7.950%		GA - 86.29%		Paid Off - 360		01-Dec-2004
1874111 2			616,250.00		611,466.35			10-Aug-2005		6.950%		CA - 85.00%		Paid Off - 360		01-Nov-2004
1876982 2			90,000.00		89,433.48			24-Jun-2005		6.900%		CA - 36.00%		Paid Off - 360		01-Dec-2004
1874458 2			409,000.00		405,804.98			25-Jul-2005		6.825%		IL - 64.92%		Paid Off - 360		01-Nov-2004
1877171 2			58,650.00		58,200.86			07-Jul-2005		6.300%		NV - 85.00%		Paid Off - 360		01-Nov-2004
1875219 2			60,000.00		59,656.83			02-Aug-2005		7.800%		FL - 80.00%		Paid Off - 360		01-Dec-2004
1877833 2			440,000.00		439,747.40			29-Jun-2005		6.850%		CA - 80.00%		Paid Off - 360		01-Nov-2004
1875353 2			80,400.00		79,940.20			28-Jul-2005		7.800%		MI - 64.84%		Paid Off - 360		01-Dec-2004
1878928 2		FCL	443,000.00		440,039.60			13-Jul-2005		6.300%		CA - 61.53%		Paid Off - 360		01-Dec-2004
1875471 1			226,950.00		226,948.19			09-Aug-2005		6.450%		NJ - 85.00%		Paid Off - 360		01-Dec-2004
1879210 1			169,600.00		168,929.84			30-Jun-2005		8.950%		CA - 64.00%		Paid Off - 360		01-Dec-2004
1876051 2			215,200.00		213,959.67			15-Aug-2005		7.800%		NJ - 80.00%		Paid Off - 360		01-Dec-2004
1880282 2			336,000.00		333,819.79			06-Jul-2005		7.250%		NJ - 80.00%		Paid Off - 360		01-Dec-2004
1876072 1			220,500.00		219,021.34			29-Jul-2005		6.990%		CA - 90.00%		Paid Off - 360		01-Dec-2004
1880711 2			444,000.00		443,895.43			30-Jun-2005		6.500%		CA - 80.00%		Paid Off - 300		01-Dec-2004
1876164 2			110,000.00		109,118.13			27-Jul-2005		6.500%		NJ - 48.89%		Paid Off - 360		01-Dec-2004
Page 20 of 31
Page 21 of 32
Morgan Stanley ABS Capital I Inc. 2005-NC1
Mortgage Pass-Through Certificates
2005-NC1
July 25, 2005 Distribution
August 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
1880891 2			180,000.00		180,000.00			12-Jul-2005		7.050%		AZ - 80.00%		Paid Off - 360		01-Nov-2004
1876169 1			162,800.00		161,762.20			11-Aug-2005		7.250%		NH - 80.00%		Paid Off - 360		01-Dec-2004
1881370 2			276,000.00		275,974.83			21-Jun-2005		7.990%		CA - 78.86%		Paid Off - 360		01-Dec-2004
1876617 2			280,000.00		278,300.69			27-Jul-2005		7.500%		NY - 76.71%		Paid Off - 360		01-Dec-2004
1882146 1			263,200.00		262,303.49			13-Jul-2005		9.800%		CA - 69.72%		Paid Off - 360		01-Dec-2004
1876874 1			339,000.00		336,453.08			21-Jul-2005		6.400%		VA - 79.76%		Paid Off - 360		01-Dec-2004
1882584 1			70,400.00		70,087.14			23-Jun-2005		8.375%		VA - 80.00%		Paid Off - 360		01-Dec-2004
1877019 1			176,250.00		174,318.05			03-Aug-2005		7.500%		CA - 75.00%		Paid Off - 360		01-Dec-2004
1882589 1			195,000.00		193,967.78			01-Jul-2005		7.500%		CA - 78.95%		Paid Off - 360		01-Dec-2004
1877084 1			243,000.00		241,610.38			05-Aug-2005		7.800%		CA - 90.00%		Paid Off - 360		01-Dec-2004
1882784 2			148,500.00		147,459.34			24-Jun-2005		6.050%		NY - 84.86%		Paid Off - 360		01-Dec-2004
1877196 1			225,000.00		224,999.98			05-Aug-2005		6.550%		CA - 90.00%		Paid Off - 360		01-Nov-2004
1883204 1			153,000.00		152,025.28			20-Jun-2005		6.550%		CA - 51.34%		Paid Off - 360		01-Dec-2004
1878796 1			186,000.00		184,555.22			02-Aug-2005		6.225%		CT - 88.57%		Paid Off - 360		01-Dec-2004
1883205 1			326,000.00		325,999.70			15-Jul-2005		6.938%		MD - 89.32%		Paid Off - 360		01-Dec-2004
1878839 2			112,000.00		111,199.15			18-Jul-2005		6.725%		CA - 50.91%		Paid Off - 360		01-Dec-2004
1883833 1			183,600.00		182,531.80			07-Jul-2005		7.450%		MD - 90.00%		Paid Off - 360		01-Dec-2004
1879632 1			308,000.00		303,189.50			04-Aug-2005		6.200%		NJ - 54.51%		Paid Off - 360		01-Dec-2004
1884154 1			171,000.00		168,905.81			20-Jun-2005		7.800%		FL - 79.17%		Paid Off - 360		01-Dec-2004
1880656 2			399,000.00		395,856.40			08-Aug-2005		6.150%		CA - 95.00%		Paid Off - 360		01-Dec-2004
1884673 1			208,800.00		207,670.32			06-Jul-2005		7.650%		CA - 89.23%		Paid Off - 360		01-Dec-2004
1880770 2			388,000.00		385,403.07			10-Aug-2005		7.000%		MI - 80.00%		Paid Off - 360		01-Dec-2004
1884765 2			157,250.00		156,502.45			22-Jun-2005		8.630%		AR - 85.00%		Paid Off - 360		01-Dec-2004
1881128 1			278,780.00		277,121.22			27-Jul-2005		7.600%		NY - 77.44%		Paid Off - 360		01-Dec-2004
1884943 1			155,000.00		154,005.20			21-Jun-2005		6.600%		CA - 56.36%		Paid Off - 360		01-Dec-2004
1881229 1			184,800.00		183,748.50			01-Aug-2005		7.990%		MD - 80.00%		Paid Off - 360		01-Dec-2004
1886074 1			217,000.00		215,707.94			27-Jun-2005		6.900%		CA - 59.78%		Paid Off - 360		01-Dec-2004
1882517 2			499,500.00		496,557.22			27-Jul-2005		7.650%		CA - 90.00%		Paid Off - 360		01-Dec-2004
1886525 1			147,000.00		146,128.95			06-Jul-2005		6.925%		VA - 56.54%		Paid Off - 360		01-Dec-2004
1883829 1			325,000.00		322,771.12			22-Jul-2005		6.875%		NJ - 78.31%		Paid Off - 360		01-Dec-2004
1886711 2			378,250.00		375,656.43			30-Jun-2005		6.200%		CA - 85.00%		Paid Off - 360		01-Dec-2004
1884691 2			212,000.00		210,082.17			10-Aug-2005		5.650%		AZ - 80.00%		Paid Off - 360		01-Dec-2004
1887087 1			142,800.00		142,112.28			30-Jun-2005		7.975%		CA - 85.00%		Paid Off - 360		01-Dec-2004
1886379 1			138,698.00		137,818.27			04-Aug-2005		7.300%		RI - 67.33%		Paid Off - 360		01-Dec-2004
1887289 2			110,500.00		109,919.10			24-Jun-2005		7.900%		PA - 85.00%		Paid Off - 360		01-Dec-2004
1886820 1			328,000.00		326,215.59			20-Jul-2005		8.050%		CA - 80.00%		Paid Off - 360		01-Dec-2004
1888018 2			166,500.00		165,741.23			27-Jun-2005		8.250%		CA - 45.00%		Paid Off - 360		01-Dec-2004
1888335 1			88,000.00		85,422.11			26-Jul-2005		8.900%		IA - 80.00%		Paid Off - 180		01-Dec-2004
1888033 1			70,200.00		69,925.43			06-Jul-2005		9.000%		PA - 90.00%		Paid Off - 360		01-Dec-2004
1888808 2			172,000.00		170,966.39			01-Aug-2005		7.550%		IL - 80.00%		Paid Off - 360		01-Dec-2004
1888261 1			140,000.00		136,663.33			17-Jun-2005		6.300%		MA - 45.60%		Paid Off - 180		01-Dec-2004
1890158 1			150,500.00		149,663.76			18-Jul-2005		7.950%		NY - 66.89%		Paid Off - 360		01-Dec-2004
1888563 1			178,000.00		176,950.42			07-Jul-2005		6.950%		FL - 89.00%		Paid Off - 360		01-Dec-2004
1890971 1			102,500.00		101,990.72			18-Jul-2005		8.500%		TN - 100.00%		Paid Off - 360		01-Dec-2004
1889016 2			98,000.00		97,144.47			28-Jun-2005		7.600%		NY - 70.00%		Paid Off - 360		01-Dec-2004
1891756 1			177,000.00		175,466.52			20-Jul-2005		5.650%		CA - 75.00%		Paid Off - 360		01-Dec-2004
1889069 2			168,000.00		167,457.23			16-Jun-2005		9.950%		MA - 75.00%		Paid Off - 360		01-Dec-2004
1891972 1			76,800.00		76,367.31			25-Jul-2005		8.000%		TX - 80.00%		Paid Off - 360		01-Dec-2004
1889348 2			170,000.00		170,000.00			08-Jul-2005		6.700%		DC - 51.49%		Paid Off - 360		01-Dec-2004
1892475 1			195,300.00		193,410.92			21-Jul-2005		6.375%		CA - 90.00%		Paid Off - 360		01-Dec-2004
1889723 2			318,750.00		316,660.19			24-Jun-2005		6.400%		CA - 84.77%		Paid Off - 360		01-Dec-2004
1892567 2			374,000.00		371,108.72			27-Jul-2005		6.250%		CA - 85.00%		Paid Off - 360		01-Dec-2004
1890211 1			263,000.00		261,694.81			20-Jun-2005		7.825%		NY - 79.70%		Paid Off - 360		01-Dec-2004
1893099 1			228,000.00		226,220.64			29-Jul-2005		6.200%		CA - 80.00%		Paid Off - 360		01-Dec-2004
1890224 1			216,000.00		214,833.75			01-Jul-2005		7.400%		AZ - 90.00%		Paid Off - 360		01-Dec-2004
1893128 1			304,000.00		304,000.00			18-Jul-2005		6.500%		WA - 80.00%		Paid Off - 360		01-Dec-2004
1890647 2			135,000.00		134,326.67			12-Jul-2005		7.800%		PA - 79.41%		Paid Off - 360		01-Dec-2004
1894130 1			208,000.00		208,000.00			27-Jul-2005		7.475%		CA - 80.00%		Paid Off - 360		01-Dec-2004
1890915 2			148,750.00		145,206.36			15-Jul-2005		6.350%		MD - 85.00%		Paid Off - 180		01-Dec-2004
1895342 1			292,000.00		289,628.85			20-Jul-2005		5.990%		CA - 80.00%		Paid Off - 360		01-Dec-2004
1891297 2			75,100.00		74,777.69			24-Jun-2005		9.200%		CA - 17.11%		Paid Off - 360		01-Dec-2004
1895561 2			180,000.00		179,126.75			22-Jul-2005		5.500%		CA - 58.06%		Paid Off - 360		01-Dec-2004
1892227 1			144,900.00		144,060.69			01-Jul-2005		7.100%		OR - 90.00%		Paid Off - 360		01-Dec-2004
1895573 2			95,200.00		94,697.41			20-Jul-2005		8.200%		MA - 85.00%		Paid Off - 360		01-Dec-2004
1892582 1			252,000.00		250,499.55			20-Jun-2005		6.900%		CA - 80.00%		Paid Off - 360		01-Dec-2004
1895583 2			260,000.00		257,874.59			03-Aug-2005		5.990%		CA - 69.33%		Paid Off - 360		01-Dec-2004
1892805 1			235,000.00		233,444.44			24-Jun-2005		6.350%		CA - 75.81%		Paid Off - 360		01-Dec-2004
1895919 1			147,000.00		145,957.32			27-Jul-2005		6.700%		CA - 79.46%		Paid Off - 360		01-Dec-2004
1892991 2			240,000.00		238,786.83			23-Jun-2005		7.990%		CA - 80.00%		Paid Off - 360		01-Dec-2004
1895988 1			95,200.00		94,568.99			02-Aug-2005		7.050%		IN - 80.00%		Paid Off - 360		01-Dec-2004
1892993 2			82,800.00		82,302.17			22-Jun-2005		6.850%		ME - 80.00%		Paid Off - 360		01-Dec-2004
1897639 1			304,000.00		301,863.93			02-Aug-2005		6.750%		NJ - 80.00%		Paid Off - 360		01-Dec-2004
1893985 1			202,500.00		201,666.39			24-Jun-2005		8.750%		NY - 90.00%		Paid Off - 360		01-Dec-2004
1897903 1			312,000.00		309,829.24			27-Jul-2005		6.800%		CA - 88.14%		Paid Off - 360		01-Dec-2004
1894119 2			380,000.00		378,387.04			28-Jun-2005		8.600%		NY - 95.00%		Paid Off - 360		01-Dec-2004
1898162 1		FCL	180,000.00		179,208.83			29-Jul-2005		9.100%		MA - 71.43%		Paid Off - 360		01-Dec-2004
Page 21 of 31
Page 22 of 32
Morgan Stanley ABS Capital I Inc. 2005-NC1
Mortgage Pass-Through Certificates
2005-NC1
July 25, 2005 Distribution
August 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
1894424 2			140,000.00		139,950.00			30-Jun-2005		6.900%		CA - 70.00%		Paid Off - 360		01-Dec-2004
1898235 1			281,350.00		279,448.48			01-Aug-2005		6.950%		CA - 85.00%		Paid Off - 360		01-Dec-2004
1894429 1			213,500.00		212,059.59			28-Jun-2005		6.250%		CA - 70.00%		Paid Off - 360		01-Dec-2004
1900208 2			165,000.00		164,056.21			11-Aug-2005		7.800%		IL - 77.83%		Paid Off - 360		01-Dec-2004
1894437 2			285,000.00		283,405.38			11-Jul-2005		7.450%		NY - 95.00%		Paid Off - 360		01-Dec-2004
1900427 2			122,400.00		121,576.46			27-Jul-2005		7.250%		OH - 90.00%		Paid Off - 360		01-Dec-2004
1894649 2			399,500.00		397,385.21			12-Jul-2005		7.500%		NY - 85.00%		Paid Off - 360		01-Dec-2004
1900861 1			170,000.00		169,172.37			11-Aug-2005		8.600%		MD - 49.28%		Paid Off - 360		01-Dec-2004
1896039 2			60,000.00		59,635.74			11-Jul-2005		6.800%		PA - 80.00%		Paid Off - 360		01-Dec-2004
1900949 1			100,000.00		99,269.94			21-Jul-2005		6.550%		CA - 25.00%		Paid Off - 360		01-Dec-2004
1896251 1			175,000.00		174,411.25			22-Jun-2005		9.750%		IL - 70.00%		Paid Off - 360		01-Dec-2004
1901367 1			100,000.00		99,368.69			10-Aug-2005		7.300%		CA - 45.45%		Paid Off - 360		01-Dec-2004
1896347 2			160,000.00		160,000.00			30-Jun-2005		7.150%		CA - 80.00%		Paid Off - 360		01-Dec-2004
1902244 2			126,000.00		125,114.81			28-Jul-2005		6.750%		NH - 67.02%		Paid Off - 360		01-Dec-2004
1896580 2			107,000.00		106,536.49			17-Jun-2005		8.500%		MA - 84.92%		Paid Off - 360		01-Dec-2004
1902367 2			445,000.00		442,378.35			#######		7.650%		FL - 77.39%		Paid Off - 360		01-Dec-2004
1898017 2			108,750.00		108,329.03			17-Jun-2005		9.050%		PA - 75.00%		Paid Off - 360		01-Dec-2004
1902572 2			138,550.00		137,845.09			25-Jul-2005		7.700%		NC - 85.00%		Paid Off - 360		01-Jan-2005
1898415 2			113,750.00		113,318.65			23-Jun-2005		9.150%		AR - 65.00%		Paid Off - 360		01-Dec-2004
1902687 1		FCL	284,000.00		282,293.36			08-Aug-2005		7.550%		MA - 80.00%		Paid Off - 360		01-Dec-2004
1899331 1			96,280.00		95,916.45			12-Jul-2005		9.250%		AZ - 64.19%		Paid Off - 360		01-Dec-2004
1903053 2			230,800.00		229,343.13			02-Aug-2005		7.300%		PA - 80.00%		Paid Off - 360		01-Dec-2004
1900280 2			199,000.00		197,835.70			11-Jul-2005		6.990%		CA - 71.84%		Paid Off - 360		01-Dec-2004
1903566 2			198,400.00		197,172.04			28-Jul-2005		7.400%		MD - 80.00%		Paid Off - 360		01-Dec-2004
1900798 2			106,250.00		104,851.34			05-Jul-2005		6.800%		MT - 85.00%		Paid Off - 360		01-Jan-2005
1904184 2			286,900.00		285,157.19			25-Jul-2005		7.700%		HI - 95.00%		Paid Off - 360		01-Dec-2004
1901447 2			94,806.00		94,201.00			29-Jun-2005		6.550%		AZ - 80.00%		Paid Off - 360		01-Dec-2004
1904524 2			280,000.00		277,643.56			29-Jul-2005		5.800%		NY - 80.00%		Paid Off - 360		01-Dec-2004
1901800 2			495,000.00		492,580.05			29-Jun-2005		7.900%		CA - 90.00%		Paid Off - 360		01-Dec-2004
1904527 1			51,300.00		51,026.47			26-Jul-2005		8.150%		FL - 95.00%		Paid Off - 360		01-Dec-2004
1902037 1			298,500.00		296,840.13			17-Jun-2005		7.250%		CA - 75.00%		Paid Off - 360		01-Dec-2004
1904802 2			143,100.00		142,356.08			20-Jul-2005		8.600%		FL - 90.00%		Paid Off - 360		01-Dec-2004
1902350 1			276,250.00		275,083.42			15-Jun-2005		8.625%		NY - 85.00%		Paid Off - 360		01-Dec-2004
1905129 2			138,000.00		136,981.01			09-Aug-2005		7.000%		WA - 64.19%		Paid Off - 360		01-Dec-2004
1902503 2			238,500.00		237,052.12			29-Jun-2005		6.800%		MD - 90.00%		Paid Off - 360		01-Dec-2004
1905635 1			322,000.00		319,447.96			27-Jul-2005		6.750%		CA - 69.10%		Paid Off - 360		01-Nov-2004
1902769 2			370,000.00		368,145.39			28-Jun-2005		7.775%		NJ - 89.16%		Paid Off - 360		01-Dec-2004
1905675 2			410,000.00		409,998.97			26-Jul-2005		6.675%		VA - 72.57%		Paid Off - 360		01-Dec-2004
1903211 1			308,900.00		308,900.00			23-Jun-2005		7.500%		CA - 79.99%		Paid Off - 360		01-Dec-2004
1906277 2			300,000.00		293,638.48			21-Jul-2005		6.250%		CA - 75.00%		Paid Off - 360		01-Dec-2004
1903511 1			229,500.00		228,273.07			22-Jun-2005		7.450%		CA - 85.00%		Paid Off - 360		01-Dec-2004
1906484 1			190,800.00		189,772.36			12-Aug-2005		8.100%		CA - 90.00%		Paid Off - 360		01-Dec-2004
1903898 1			213,000.00		211,753.78			29-Jun-2005		6.990%		CA - 68.71%		Paid Off - 360		01-Dec-2004
1906793 2			345,000.00		343,160.44			22-Jul-2005		8.150%		CA - 100.00%		Paid Off - 360		01-Dec-2004
1904069 1			161,500.00		160,562.82			28-Jun-2005		7.800%		AZ - 95.00%		Paid Off - 360		01-Dec-2004
1906825 1			432,000.00		428,547.42			21-Jul-2005		6.100%		HI - 90.00%		Paid Off - 360		01-Dec-2004
1904218 2			164,800.00		163,918.97			01-Jul-2005		7.450%		OR - 80.00%		Paid Off - 360		01-Dec-2004
1906870 1			217,000.00		215,831.23			03-Aug-2005		8.100%		CA - 85.43%		Paid Off - 360		01-Dec-2004
1904254 1			350,000.00		348,267.54			15-Jul-2005		7.838%		NM - 100.00%		Paid Off - 360		01-Dec-2004
1907585 2			104,000.00		103,059.09			25-Jul-2005		6.500%		VA - 63.03%		Paid Off - 360		01-Dec-2004
1904770 1			141,300.00		140,522.07			30-Jun-2005		7.990%		CA - 90.00%		Paid Off - 360		01-Nov-2004
1908377 1			123,000.00		122,497.15			02-Aug-2005		9.450%		MI - 79.35%		Paid Off - 360		01-Dec-2004
1904848 2			97,096.00		95,916.65			30-Jun-2005		6.750%		ME - 80.00%		Paid Off - 360		01-Dec-2004
1908585 1			185,000.00		183,472.08			01-Aug-2005		5.900%		CA - 64.91%		Paid Off - 360		01-Dec-2004
1906285 1			160,500.00		159,287.51			24-Jun-2005		5.650%		CA - 57.32%		Paid Off - 360		01-Dec-2004
1908950 2			72,800.00		72,340.44			08-Aug-2005		7.300%		OH - 70.00%		Paid Off - 360		01-Dec-2004
1906995 2			215,000.00		215,000.00			29-Jun-2005		6.250%		MA - 66.56%		Paid Off - 360		01-Dec-2004
1909032 2			140,000.00		138,722.68			20-Jul-2005		5.650%		CA - 82.35%		Paid Off - 360		01-Dec-2004
1907217 2			247,600.00		245,801.37			11-Jul-2005		6.500%		NJ - 79.87%		Paid Off - 360		01-Dec-2004
1909729 1			121,600.00		120,839.86			03-Aug-2005		7.350%		TN - 95.00%		Paid Off - 360		01-Dec-2004
1908090 1			95,200.00		94,881.37			28-Jun-2005		9.750%		MI - 85.00%		Paid Off - 360		01-Dec-2004
1909765 1			195,000.00		194,043.16			18-Jul-2005		8.990%		CA - 79.59%		Paid Off - 360		01-Dec-2004
1908225 2			153,000.00		152,395.43			29-Jun-2005		8.950%		CA - 100.00%		Paid Off - 360		01-Dec-2004
1910046 1			348,000.00		348,000.00			15-Aug-2005		7.990%		CA - 80.00%		Paid Off - 360		01-Dec-2004
1909168 2			367,200.00		367,035.88			30-Jun-2005		6.138%		CA - 80.00%		Paid Off - 360		01-Dec-2004
1911020 1			210,700.00		209,656.44			01-Aug-2005		8.525%		CA - 70.00%		Paid Off - 360		01-Dec-2004
1909242 1			344,000.00		341,566.53			05-Jul-2005		6.000%		CA - 80.00%		Paid Off - 360		01-Dec-2004
1911085 2			144,000.00		142,831.12			26-Jul-2005		6.000%		FL - 80.00%		Paid Off - 360		01-Dec-2004
1909245 2			335,750.00		333,789.43			29-Jun-2005		7.000%		NJ - 85.00%		Paid Off - 360		01-Dec-2004
1911116 1			176,000.00		176,000.00			27-Jul-2005		7.850%		CA - 80.00%		Paid Off - 360		01-Dec-2004
1909967 1			189,000.00		188,104.48			30-Jun-2005		8.150%		CA - 63.00%		Paid Off - 360		01-Dec-2004
1911128 1			95,000.00		94,543.02			22-Jul-2005		9.100%		CA - 63.33%		Paid Off - 360		01-Dec-2004
1910055 1			308,000.00		306,338.89			01-Jul-2005		6.600%		CA - 94.77%		Paid Off - 360		01-Jan-2005
1911571 2			126,000.00		125,380.30			08-Aug-2005		8.550%		OH - 74.12%		Paid Off - 360		01-Dec-2004
1910315 2			78,625.00		78,273.90			30-Jun-2005		8.350%		WI - 85.00%		Paid Off - 360		01-Dec-2004
1912666 1			171,500.00		170,731.78			28-Jul-2005		9.500%		CA - 62.36%		Paid Off - 360		01-Dec-2004
Page 22 of 31
Page 23 of 32
Morgan Stanley ABS Capital I Inc. 2005-NC1
Mortgage Pass-Through Certificates
2005-NC1
July 25, 2005 Distribution
August 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
1910886 2			284,000.00		284,000.00			28-Jun-2005		6.350%		CA - 80.00%		Paid Off - 360		01-Dec-2004
1913011 2			319,000.00		317,060.20			21-Jul-2005		7.500%		CA - 49.84%		Paid Off - 360		01-Dec-2004
1911217 2			139,750.00		139,010.20			29-Jun-2005		7.500%		MD - 65.00%		Paid Off - 360		01-Dec-2004
1914576 2			176,250.00		174,874.48			02-Aug-2005		6.200%		CA - 75.00%		Paid Off - 360		01-Dec-2004
1911760 2			191,000.00		189,873.73			21-Jun-2005		6.950%		NY - 84.89%		Paid Off - 360		01-Dec-2004
1915121 2			86,400.00		85,805.39			02-Aug-2005		7.400%		VA - 90.00%		Paid Off - 360		01-Dec-2004
1911846 1			256,700.00		255,496.51			29-Jun-2005		8.550%		MN - 85.00%		Paid Off - 360		01-Dec-2004
1915456 1			232,000.00		230,722.62			03-Aug-2005		7.990%		CA - 89.23%		Paid Off - 360		01-Dec-2004
1912255 2			520,000.00		516,933.90			13-Jul-2005		6.950%		CT - 76.47%		Paid Off - 360		01-Dec-2004
1915610 2			263,920.00		262,130.21			15-Aug-2005		7.150%		NJ - 80.00%		Paid Off - 360		01-Dec-2004
1912266 1			104,000.00		103,404.40			21-Jun-2005		7.100%		FL - 74.82%		Paid Off - 360		01-Dec-2004
1915758 1			221,000.00		219,821.63			28-Jul-2005		8.150%		MN - 85.00%		Paid Off - 360		01-Dec-2004
1912606 2			125,000.00		124,430.37			15-Jun-2005		8.250%		NV - 36.76%		Paid Off - 360		01-Dec-2004
1915908 1			79,900.00		79,482.39			20-Jul-2005		8.250%		CA - 85.00%		Paid Off - 360		01-Dec-2004
1914621 1			299,250.00		297,830.28			17-Jun-2005		8.050%		HI - 95.00%		Paid Off - 360		01-Dec-2004
1916084 2			250,000.00		247,255.31			02-Aug-2005		7.825%		CT - 50.00%		Paid Off - 360		01-Dec-2004
1915062 2			172,000.00		171,239.59			15-Jul-2005		8.400%		FL - 80.00%		Paid Off - 360		01-Dec-2004
1916167 2			215,000.00		213,841.04			11-Aug-2005		8.100%		CA - 54.85%		Paid Off - 360		01-Dec-2004
1915553 2			420,000.00		419,999.98			20-Jun-2005		6.150%		MD - 80.00%		Paid Off - 360		01-Dec-2004
1916518 2			178,200.00		177,024.58			01-Aug-2005		7.075%		FL - 90.00%		Paid Off - 360		01-Dec-2004
1915928 2			410,183.00		407,692.96			14-Jul-2005		6.800%		VA - 80.00%		Paid Off - 360		01-Dec-2004
1917525 1			288,750.00		287,300.62			03-Aug-2005		8.450%		CA - 75.00%		Paid Off - 360		01-Dec-2004
1916206 1			231,920.00		231,920.00			28-Jun-2005		6.950%		CO - 80.00%		Paid Off - 360		01-Dec-2004
1918475 2			224,000.00		222,706.21			05-Aug-2005		7.750%		NJ - 80.00%		Paid Off - 360		01-Dec-2004
1916234 1			112,800.00		112,014.72			05-Jul-2005		6.250%		VA - 80.00%		Paid Off - 360		01-Dec-2004
1918875 2			480,000.00		476,102.33			11-Aug-2005		5.990%		CA - 80.00%		Paid Off - 360		01-Dec-2004
1916284 2			215,050.00		213,982.78			29-Jun-2005		7.825%		NJ - 85.00%		Paid Off - 360		01-Dec-2004
1918918 2			177,300.00		175,648.39			15-Aug-2005		6.900%		IL - 90.00%		Paid Off - 360		01-Dec-2004
1916312 1			328,500.00		326,971.66			14-Jul-2005		8.400%		MA - 90.00%		Paid Off - 360		01-Dec-2004
1919359 1			220,000.00		218,690.95			03-Aug-2005		7.600%		NY - 67.69%		Paid Off - 360		01-Dec-2004
1916485 1			290,000.00		288,806.14			30-Jun-2005		8.750%		NJ - 61.05%		Paid Off - 360		01-Dec-2004
1919869 2			143,910.00		143,095.12			11-Aug-2005		7.850%		IL - 90.00%		Paid Off - 360		01-Dec-2004
1916678 1			250,000.00		248,880.86			30-Jun-2005		8.338%		VT - 76.22%		Paid Off - 360		01-Dec-2004
1919976 2			170,000.00		168,978.34			22-Jul-2005		7.550%		FL - 73.91%		Paid Off - 360		01-Dec-2004
1916701 2			399,750.00		397,116.58			21-Jun-2005		6.375%		CA - 75.00%		Paid Off - 360		01-Dec-2004
1920059 2			225,000.00		223,496.39			10-Aug-2005		6.300%		CA - 77.59%		Paid Off - 360		01-Jan-2005
1917977 1			213,600.00		212,446.72			01-Jul-2005		7.400%		CA - 80.00%		Paid Off - 360		01-Dec-2004
1920117 1			212,500.00		211,320.63			02-Aug-2005		7.950%		MD - 85.00%		Paid Off - 360		01-Dec-2004
1918583 2			146,000.00		145,014.99			01-Jul-2005		6.250%		CA - 72.28%		Paid Off - 360		01-Dec-2004
1920836 2			92,800.00		92,184.82			02-Aug-2005		7.050%		SC - 80.00%		Paid Off - 360		01-Dec-2004
1919309 2			200,000.00		195,272.89			24-Jun-2005		6.400%		CA - 78.43%		Paid Off - 180		01-Dec-2004
1921282 1			92,100.00		91,771.86			08-Aug-2005		9.450%		CA - 100.00%		Paid Off - 360		01-Jan-2005
1919380 1			64,890.00		64,597.28			27-Jun-2005		8.300%		PA - 90.00%		Paid Off - 360		01-Dec-2004
1921573 2			180,000.00		178,950.00			11-Aug-2005		7.700%		NV - 90.00%		Paid Off - 360		01-Dec-2004
1919569 1			200,000.00		198,648.07			22-Jun-2005		6.240%		CA - 80.00%		Paid Off - 360		01-Dec-2004
1921591 2			500,000.00		500,000.00			21-Jul-2005		7.600%		MA - 79.18%		Paid Off - 360		01-Dec-2004
1919723 1			164,050.00		163,088.56			05-Jul-2005		7.050%		MD - 85.00%		Paid Off - 360		01-Dec-2004
1922200 2			59,500.00		59,148.50			03-Aug-2005		8.350%		OH - 70.00%		Paid Off - 360		01-Dec-2004
1919766 2			181,600.00		180,590.18			24-Jun-2005		7.250%		CA - 80.00%		Paid Off - 360		01-Dec-2004
1922523 2			148,000.00		145,754.79			19-Jul-2005		7.275%		FL - 80.00%		Paid Off - 240		01-Dec-2004
1921181 2			168,000.00		166,929.73			27-Jun-2005		6.550%		MA - 61.54%		Paid Off - 360		01-Dec-2004
1923089 1			340,000.00		337,975.60			04-Aug-2005		6.900%		CA - 86.08%		Paid Off - 360		01-Jan-2005
1921227 2			232,000.00		230,645.24			21-Jun-2005		7.000%		NV - 80.00%		Paid Off - 360		01-Dec-2004
1923758 1			129,500.00		127,178.29			21-Jul-2005		5.850%		CA - 79.94%		Paid Off - 240		01-Dec-2004
1921588 2			350,000.00		348,147.23			30-Jun-2005		7.500%		NJ - 74.00%		Paid Off - 360		01-Dec-2004
1923936 2			265,000.00		263,174.35			21-Jul-2005		7.325%		NJ - 76.81%		Paid Off - 360		01-Dec-2004
1921660 1			195,500.00		194,218.22			06-Jul-2005		6.400%		IN - 85.00%		Paid Off - 360		01-Dec-2004
1923965 2			372,945.00		370,024.49			20-Jul-2005		6.200%		CA - 69.00%		Paid Off - 360		01-Dec-2004
1922014 2			344,000.00		344,000.00			08-Jul-2005		7.200%		IL - 80.00%		Paid Off - 360		01-Dec-2004
1924567 2			360,000.00		357,641.69			15-Jul-2005		7.400%		CA - 66.06%		Paid Off - 360		01-Dec-2004
1922409 2			153,000.00		152,244.53			05-Jul-2005		8.250%		MN - 80.95%		Paid Off - 360		01-Dec-2004
1925331 2			167,450.00		166,592.38			15-Aug-2005		8.350%		MN - 85.00%		Paid Off - 360		01-Dec-2004
1923294 2			270,400.00		268,774.29			11-Jul-2005		6.850%		CA - 63.62%		Paid Off - 360		01-Dec-2004
1925363 2			130,000.00		129,284.23			29-Jul-2005		7.990%		OH - 50.00%		Paid Off - 360		01-Dec-2004
1923582 1			137,900.00		137,093.00			21-Jun-2005		8.450%		NH - 70.00%		Paid Off - 360		01-Dec-2004
1926188 2			248,400.00		247,389.82			27-Jul-2005		8.850%		AZ - 90.00%		Paid Off - 360		01-Jan-2005
1923980 1			52,000.00		51,760.58			27-Jun-2005		8.200%		FL - 80.00%		Paid Off - 360		01-Dec-2004
1926250 2			60,750.00		60,513.57			18-Jul-2005		9.700%		MO - 75.00%		Paid Off - 360		01-Dec-2004
1924001 2			272,000.00		270,747.94			13-Jul-2005		8.200%		MD - 80.00%		Paid Off - 360		01-Dec-2004
1927420 1			229,000.00		227,540.31			29-Jul-2005		7.250%		IL - 78.97%		Paid Off - 360		01-Dec-2004
1924374 2			122,400.00		121,812.27			07-Jul-2005		7.990%		MD - 85.00%		Paid Off - 360		01-Dec-2004
1927555 2			463,080.00		459,666.70			10-Aug-2005		6.500%		NV - 80.00%		Paid Off - 360		01-Dec-2004
1924379 1			205,000.00		203,767.41			27-Jun-2005		6.850%		CA - 89.13%		Paid Off - 360		01-Dec-2004
1927733 2			82,800.00		82,208.92			27-Jul-2005		9.100%		MI - 90.00%		Paid Off - 360		01-Dec-2004
1924675 2			275,000.00		273,679.56			29-Jun-2005		7.990%		NY - 60.44%		Paid Off - 360		01-Dec-2004
1928917 1			136,000.00		133,918.27			03-Aug-2005		7.200%		NJ - 77.71%		Paid Off - 240		01-Dec-2004
Page 23 of 31
Page 24 of 32
Morgan Stanley ABS Capital I Inc. 2005-NC1
Mortgage Pass-Through Certificates
2005-NC1
July 25, 2005 Distribution
August 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
1925317 2			168,000.00		167,145.23			07-Jul-2005		7.700%		IL - 80.00%		Paid Off - 360		01-Dec-2004
1930014 1			289,800.00		287,856.52			01-Aug-2005		6.990%		CA - 90.00%		Paid Off - 360		01-Dec-2004
1926494 1			119,000.00		118,479.22			24-Jun-2005		8.450%		LA - 85.00%		Paid Off - 360		01-Dec-2004
1932602 1			227,800.00		226,275.32			01-Aug-2005		7.000%		CA - 85.00%		Paid Off - 360		01-Dec-2004
1928860 2			173,700.00		173,700.00			27-Jun-2005		9.800%		FL - 90.00%		Paid Off - 360		01-Dec-2004
1932811 2			100,000.00		99,522.53			15-Aug-2005		8.750%		MI - 54.95%		Paid Off - 360		01-Dec-2004
1928973 1			105,160.00		104,713.61			07-Jul-2005		8.600%		IL - 88.00%		Paid Off - 360		01-Dec-2004
1932981 2			164,000.00		161,783.73			22-Jul-2005		7.100%		DE - 80.00%		Paid Off - 240		01-Jan-2005
1929457 2			80,000.00		79,523.62			21-Jun-2005		6.900%		OH - 80.00%		Paid Off - 360		01-Dec-2004
1933492 2			246,000.00		241,886.19			20-Jul-2005		6.450%		NJ - 71.30%		Paid Off - 240		01-Dec-2004
1930894 1			322,500.00		320,416.85			21-Jun-2005		6.750%		CA - 64.89%		Paid Off - 360		01-Dec-2004
1934173 1			162,000.00		161,064.34			28-Jul-2005		7.750%		VA - 90.00%		Paid Off - 360		01-Dec-2004
1931621 1			280,000.00		278,015.50			22-Jun-2005		5.990%		CA - 60.41%		Paid Off - 360		01-Dec-2004
1934696 2			440,000.00		436,262.59			20-Jul-2005		5.750%		AZ - 80.00%		Paid Off - 360		01-Dec-2004
1932440 2			101,700.00		101,120.08			21-Jun-2005		7.150%		MI - 90.00%		Paid Off - 360		01-Dec-2004
1936106 2			204,750.00		203,297.67			21-Jul-2005		6.700%		CA - 75.00%		Paid Off - 360		01-Dec-2004
1932598 1			247,500.00		246,302.08			01-Jul-2005		7.950%		CA - 75.00%		Paid Off - 360		01-Dec-2004
1936220 2			88,500.00		87,998.86			02-Aug-2005		7.850%		MI - 88.50%		Paid Off - 360		01-Dec-2004
1933248 1			207,000.00		205,749.42			16-Jun-2005		6.825%		CA - 79.62%		Paid Off - 360		01-Dec-2004
1936314 2			650,000.00		650,000.00			08-Aug-2005		7.250%		CA - 73.45%		Paid Off - 300		01-Dec-2004
1933399 1			102,000.00		101,276.87			28-Jun-2005		5.990%		FL - 72.86%		Paid Off - 360		01-Dec-2004
1936421 2			266,800.00		266,799.00			29-Jul-2005		5.850%		CA - 80.00%		Paid Off - 360		01-Dec-2004
1933803 1			279,000.00		277,370.88			07-Jul-2005		7.000%		CA - 90.00%		Paid Off - 360		01-Dec-2004
1937013 2			115,200.00		114,257.45			28-Jul-2005		5.950%		WI - 90.00%		Paid Off - 360		01-Dec-2004
1933831 1			238,000.00		236,476.31			13-Jul-2005		8.450%		CA - 85.00%		Paid Off - 360		01-Dec-2004
1937595 2			373,000.00		370,041.55			20-Jul-2005		6.500%		CA - 76.12%		Paid Off - 360		01-Dec-2004
1934172 2			116,900.00		116,416.63			28-Jun-2005		7.950%		FL - 89.99%		Paid Off - 360		01-Jan-2005
1937629 2			101,250.00		100,671.01			09-Aug-2005		7.800%		NJ - 73.91%		Paid Off - 360		01-Dec-2004
1934719 2			244,000.00		242,708.35			29-Jun-2005		7.500%		CA - 80.00%		Paid Off - 360		01-Dec-2004
1937951 2			301,500.00		299,652.07			21-Jul-2005		7.450%		WI - 90.00%		Paid Off - 360		01-Dec-2004
1935129 2			195,200.00		193,914.17			13-Jul-2005		6.700%		NV - 73.66%		Paid Off - 360		01-Dec-2004
1938392 2			130,000.00		128,040.40			29-Jul-2005		6.200%		CA - 57.78%		Paid Off - 240		01-Jan-2005
1935134 2			262,500.00		261,115.62			14-Jul-2005		7.650%		CA - 75.00%		Paid Off - 360		01-Dec-2004
1938746 2			510,320.00		510,320.00			02-Aug-2005		7.100%		CA - 80.00%		Paid Off - 360		01-Dec-2004
1935691 1			117,000.00		116,328.52			23-Jun-2005		7.400%		PA - 89.66%		Paid Off - 360		01-Dec-2004
1938886 1			391,500.00		388,682.23			02-Aug-2005		7.550%		HI - 90.00%		Paid Off - 360		01-Dec-2004
1935831 2			121,600.00		120,703.74			01-Jul-2005		5.800%		NM - 80.00%		Paid Off - 360		01-Dec-2004
1938952 1			310,250.00		308,177.81			20-Jul-2005		7.500%		CA - 85.00%		Paid Off - 360		01-Dec-2004
1936177 1			127,600.00		125,561.59			29-Jun-2005		5.990%		TX - 94.52%		Paid Off - 240		01-Dec-2004
1939922 2			102,000.00		101,291.92			08-Aug-2005		6.100%		AZ - 85.00%		Paid Off - 360		01-Jan-2005
1937033 2			180,000.00		178,804.37			29-Jun-2005		6.400%		CT - 80.00%		Paid Off - 360		01-Dec-2004
1941549 2			220,000.00		218,569.91			18-Jul-2005		7.150%		WV - 82.71%		Paid Off - 360		01-Dec-2004
1937472 2			61,200.00		60,859.63			12-Jul-2005		7.250%		OH - 90.00%		Paid Off - 360		01-Dec-2004
1942741 2			72,200.00		71,837.57			11-Aug-2005		8.450%		OK - 84.94%		Paid Off - 360		01-Dec-2004
1937703 1			270,000.00		268,547.82			15-Jul-2005		6.950%		CA - 88.82%		Paid Off - 360		01-Jan-2005
1942846 2			297,000.00		295,197.58			08-Aug-2005		7.500%		MD - 84.86%		Paid Off - 360		01-Dec-2004
1937795 1			135,000.00		134,415.16			23-Jun-2005		8.500%		CA - 84.38%		Paid Off - 360		01-Dec-2004
1944370 2			175,650.00		174,292.11			08-Aug-2005		6.250%		CA - 60.15%		Paid Off - 360		01-Dec-2004
1937912 1			127,000.00		126,251.10			23-Jun-2005		6.950%		CA - 59.91%		Paid Off - 360		01-Dec-2004
1946306 1			330,000.00		327,320.35			21-Jul-2005		5.990%		CA - 86.84%		Paid Off - 360		01-Dec-2004
1938064 2			228,000.00		226,402.26			30-Jun-2005		6.050%		CA - 82.91%		Paid Off - 360		01-Dec-2004
1946925 2			331,500.00		329,219.33			28-Jul-2005		6.150%		HI - 85.00%		Paid Off - 360		01-Jan-2005
1938395 1			261,000.00		259,519.89			21-Jun-2005		7.150%		CA - 90.00%		Paid Off - 360		01-Dec-2004
1947512 1			216,000.00		214,453.05			28-Jul-2005		6.650%		OR - 80.00%		Paid Off - 360		01-Dec-2004
1938406 2			188,000.00		187,158.00			07-Jul-2005		8.800%		CA - 80.00%		Paid Off - 360		01-Dec-2004
1947887 2			95,625.00		95,231.29			01-Aug-2005		8.750%		SC - 85.00%		Paid Off - 360		01-Jan-2005
1938686 2			64,000.00		63,210.94			01-Jul-2005		6.550%		TN - 62.14%		Paid Off - 240		01-Jan-2005
1948840 2			110,000.00		109,098.86			11-Aug-2005		6.750%		CA - 55.00%		Paid Off - 360		01-Dec-2004
1938839 2			188,800.00		187,670.44			24-Jun-2005		6.875%		CA - 80.00%		Paid Off - 360		01-Dec-2004
1000031307 2			86,000.00		84,426.68			04-Aug-2005		6.900%		FL - 49.14%		Paid Off - 360		01-Nov-2004
1939152 2			280,000.00		278,074.71			24-Jun-2005		6.150%		CA - 80.00%		Paid Off - 360		01-Dec-2004
1000031968 2			176,600.00		175,229.73			25-Jul-2005		8.850%		CA - 49.96%		Paid Off - 360		01-Nov-2004
1939242 2			148,500.00		147,577.98			29-Jun-2005		7.300%		IL - 90.00%		Paid Off - 360		01-Dec-2004
1000039087 2			402,400.00		402,400.00			11-Aug-2005		7.100%		CA - 80.00%		Paid Off - 360		01-Nov-2004
1939460 1			201,450.00		198,967.24			05-Jul-2005		7.650%		FL - 85.00%		Paid Off - 360		01-Dec-2004
1000042000 1			98,800.00		98,256.15			25-Jul-2005		8.150%		FL - 95.00%		Paid Off - 360		01-Dec-2004
1940052 2			236,000.00		234,594.84			29-Jun-2005		6.900%		WA - 80.00%		Paid Off - 360		01-Dec-2004
1000049138 1			150,000.00		149,132.65			20-Jul-2005		8.350%		CA - 58.37%		Paid Off - 360		01-Nov-2004
1941025 2			224,000.00		222,464.58			27-Jun-2005		6.700%		CA - 80.00%		Paid Off - 360		01-Dec-2004
1000050036 1			150,450.00		149,582.17			27-Jul-2005		8.200%		CA - 85.00%		Paid Off - 360		01-Dec-2004
1942047 2			147,000.00		146,019.60			24-Jun-2005		6.575%		CA - 84.97%		Paid Off - 360		01-Dec-2004
1000054960 2			165,000.00		164,183.01			08-Aug-2005		8.950%		CA - 66.00%		Paid Off - 360		01-Dec-2004
1942417 2			576,000.00		568,776.99			14-Jul-2005		6.900%		HI - 80.00%		Paid Off - 360		01-Dec-2004
1000055399 1			297,500.00		295,459.90			29-Jul-2005		6.875%		CA - 81.51%		Paid Off - 360		01-Dec-2004
1943278 2			280,000.00		278,155.42			08-Jul-2005		6.375%		CA - 60.87%		Paid Off - 360		01-Dec-2004
1000068447 1			260,000.00		257,932.10			15-Aug-2005		6.100%		CA - 80.00%		Paid Off - 360		01-Dec-2004
Page 24 of 31
Page 25 of 32
Morgan Stanley ABS Capital I Inc. 2005-NC1
Mortgage Pass-Through Certificates
2005-NC1
July 25, 2005 Distribution
August 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
1943298 2			107,000.00		106,502.47			21-Jun-2005		8.150%		OH - 78.68%		Paid Off - 360		01-Dec-2004
1000068811 1			133,000.00		132,359.04			08-Aug-2005		8.650%		FL - 70.00%		Paid Off - 360		01-Dec-2004
1944471 2			164,000.00		162,893.54			01-Jul-2005		6.250%		CA - 84.97%		Paid Off - 360		01-Dec-2004
1000069669 1			75,900.00		75,533.06			18-Jul-2005		8.750%		FL - 60.29%		Paid Off - 360		01-Dec-2004
1947797 2			198,050.00		196,904.74			12-Jul-2005		7.050%		DC - 85.00%		Paid Off - 360		01-Dec-2004
1000072325 2		FCL	95,000.00		94,546.79			01-Aug-2005		8.700%		FL - 50.53%		Paid Off - 360		01-Dec-2004
1948612 2			212,400.00		211,264.50			24-Jun-2005		7.450%		MD - 84.99%		Paid Off - 360		01-Dec-2004
1000073422 1		FCL	168,000.00		167,019.97			12-Aug-2005		7.700%		FL - 60.00%		Paid Off - 360		01-Dec-2004
1950827 2			334,750.00		330,118.68			08-Jul-2005		6.000%		CA - 65.00%		Paid Off - 360		01-Dec-2004
1000080281 2			132,500.00		131,777.54			04-Aug-2005		7.350%		FL - 80.30%		Paid Off - 360		01-Jan-2005
1000018590 2			134,100.00		133,046.68			05-Jul-2005		6.800%		FL - 90.00%		Paid Off - 360		01-Oct-2004
1000091616 2			266,000.00		264,882.36			09-Aug-2005		8.650%		FL - 95.00%		Paid Off - 360		01-Jan-2005
1000027768 1			229,500.00		229,500.00			07-Jul-2005		6.990%		CA - 79.14%		Paid Off - 360		01-Nov-2004
1000095346 2			136,000.00		134,990.47			01-Aug-2005		6.700%		MI - 85.00%		Paid Off - 360		01-Dec-2004
1000039540 1			228,000.00		228,000.00			28-Jun-2005		6.200%		CA - 80.00%		Paid Off - 360		01-Nov-2004
1000102855 2			230,000.00		229,049.95			28-Jul-2005		9.500%		MD - 100.00%		Paid Off - 360		01-Dec-2004
1000046658 1			90,000.00		89,637.01			13-Jul-2005		8.850%		FL - 72.58%		Paid Off - 360		01-Dec-2004
1000104595 2			111,000.00		110,212.66			01-Aug-2005		6.700%		CA - 82.22%		Paid Off - 360		01-Dec-2004
1000047531 1			50,000.00		49,830.86			08-Jul-2005		9.700%		MI - 56.18%		Paid Off - 360		01-Dec-2004
1000115967 2			104,000.00		102,773.91			10-Aug-2005		7.000%		FL - 74.29%		Paid Off - 360		01-Jan-2005
1000051080 2			132,000.00		131,563.68			06-Jul-2005		9.050%		FL - 80.00%		Paid Off - 360		01-Jan-2005
1000117206 2			150,950.00		150,305.63			26-Jul-2005		8.575%		IL - 95.00%		Paid Off - 360		01-Jan-2005
1000053426 1			355,000.00		352,311.25			13-Jul-2005		5.650%		CA - 75.05%		Paid Off - 360		01-Dec-2004
TOTAL			51,779,103.00		51,458,683.88
1000055718 2			154,800.00		154,182.06			29-Jun-2005		8.900%		FL - 90.00%		Paid Off - 360		01-Dec-2004
Page 26 of 32
1000057128 1			115,000.00		114,545.56			27-Jun-2005		8.950%		CA - 100.00%		Paid Off - 360		01-Dec-2004
1000062087 1			350,000.00		348,005.49			13-Jul-2005		7.125%		CA - 58.33%		Paid Off - 360		01-Dec-2004
1000064290 1		FCL	207,000.00		206,107.51			05-Jul-2005		8.600%		FL - 100.00%		Paid Off - 360		01-Dec-2004
1000064637 2		FCL	433,600.00		430,415.06			01-Jul-2005		5.800%		CA - 80.00%		Paid Off - 360		01-Dec-2004
1000065397 1			348,500.00		348,500.00			17-Jun-2005		5.990%		CA - 85.00%		Paid Off - 360		01-Dec-2004
1000066635 1			272,000.00		271,999.97			12-Jul-2005		6.950%		CA - 80.00%		Paid Off - 360		01-Dec-2004
1000066804 2			369,000.00		369,000.00			08-Jul-2005		7.250%		CA - 90.00%		Paid Off - 360		01-Dec-2004
1000066984 1			188,800.00		187,363.06			06-Jul-2005		5.650%		FL - 80.00%		Paid Off - 360		01-Dec-2004
1000067082 1			71,500.00		70,414.42			15-Jul-2005		8.850%		FL - 65.00%		Paid Off - 360		01-Dec-2004
1000071558 1			229,500.00		228,382.97			30-Jun-2005		7.925%		FL - 90.00%		Paid Off - 360		01-Dec-2004
1000074145 1			157,500.00		156,571.31			14-Jul-2005		6.950%		CA - 90.00%		Paid Off - 360		01-Dec-2004
1000106165 2			132,000.00		131,397.02			01-Jul-2005		7.450%		VA - 80.00%		Paid Off - 360		01-Jan-2005
TOTAL			54,130,518.00		53,838,632.54
Page 25 of 31
Morgan Stanley ABS Capital I Inc. 2005-NC1
Mortgage Pass-Through Certificates
2005-NC1
July 25, 2005 Distribution
August 25, 2005 Distribution
Realized Loss Report
COLLATERAL REALIZED LOSSES
											Group 2		Group 1		Total
Current
Number of Loans Liquidated										0		0		0
Collateral Principal Realized Loss/(Gain) Amount										0.00		0.00		0.00
Collateral Interest Realized Loss/(Gain) Amount										0.00		0.00		0.00
Net Liquidation Proceeds										0.00		0.00		0.00
Cumulative
Number of Loans Liquidated										0		0		0
Collateral Realized Loss/(Gain) Amount										0.00		0.00		0.00
Net Liquidation Proceeds										0.00		0.00		0.00
Page 26 of 31
Page 27 of 32
Morgan Stanley ABS Capital I Inc. 2005-NC1
Mortgage Pass-Through Certificates
2005-NC1
July 25, 2005 Distribution
August 25, 2005 Distribution
DEFAULT SPEEDS
											Group 2		Group 1		Total
MDR										0.00%		0.00%		0.00%
3 Months Avg MDR										0.00%		0.00%		0.00%
12 Months Avg MDR										0.00%		0.00%		0.00%
Avg MDR Since Cut-off										0.00%		0.00%		0.00%
CDR										0.00%		0.00%		0.00%
3 Months Avg CDR										0.00%		0.00%		0.00%
12 Months Avg CDR										0.00%		0.00%		0.00%
Avg CDR Since Cut-off										0.00%		0.00%		0.00%
SDA										0.00%		0.00%		0.00%
3 Months Avg SDA Approximation										0.00%		0.00%		0.00%
12 Months Avg SDA Approximation										0.00%		0.00%		0.00%
Avg SDA Since Cut-off Approximation										0.00%		0.00%		0.00%
Loss Severity Approximation for Current Period										0.00%		0.00%		0.00%
3 Months Avg Loss Severity Approximation										0.00%		0.00%		0.00%
12 Months Avg Loss Severity Approximation										0.00%		0.00%		0.00%
Avg Loss Severity Approximation Since Cut-off										0.00%		0.00%		0.00%
Page 27 of 31
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Morgan Stanley ABS Capital I Inc. 2005-NC1
Mortgage Pass-Through Certificates
2005-NC1
July 25, 2005 Distribution
August 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.
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Morgan Stanley ABS Capital I Inc. 2005-NC1
Mortgage Pass-Through Certificates
2005-NC1
July 25, 2005 Distribution
August 25, 2005 Distribution
Realized Loss Detail Report
Loan Number			Current		State &				Prior		Realized				Cumulative
&		Loan	Note		LTV at		Original		Principal		Loss/(Gain)		Realized		Realized
Loan Group		Status	Rate		Origination		Term		Balance		Revision		Loss/(Gain)		Loss/(Gain)
TOTAL
Page 29 of 31
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Morgan Stanley ABS Capital I Inc. 2005-NC1
Mortgage Pass-Through Certificates
2005-NC1
July 25, 2005 Distribution
August 25, 2005 Distribution
Triggers and Adj. Cert. Report
TRIGGER EVENTS
										Group 2		Group 1		Total
						Trigger Event in effect (0=No , 1=Yes)								0
						Stepdown Date has occurred (0 = No, 1=Yes)								0
						60+ Day Rolling Delinquency Percentage								1.~~41335000~~92993700
						Class A-2A Accelerated Event Occured (0 = No, 1=Yes)								0
						Ending Balance								1,~~280~~228,~~923~~341,~~788~~730.2630
						Prior period Senior Enhancement Percentage								2021.~~5900~~4700%
						Class A-2A Accelerated Amortization Amount
						Sequential Trigger Event in effect (0=No , 1=Yes)								0
ADJUSTABLE RATE CERTIFICATE INFORMATION
SPACE INTENTIONALLY LEFT BLANK
ADDITIONAL INFORMATION
										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 30 of 31
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Morgan Stanley ABS Capital I Inc. 2005-NC1
Mortgage Pass-Through Certificates
2005-NC1
July 25, 2005 Distribution
August 25, 2005 Distribution
Other Related Information
ADDITIONAL INFORMATION
										Group 2		Group 1		Total
Current Scheduled Payments										5,~~451~~247,~~566~~524.0234		3,~~577~~418,~~451~~111.5266		98,~~029~~665,~~017~~636.5500
Current Scheduled Payments 1 Month Prior										5,~~629~~451,~~600~~566.1102		3,~~746~~577,~~782~~451.6652		9,~~376~~029,~~382~~017.7755
Current Scheduled Payments 2 Month Prior										5,~~789~~629,~~729~~600.7111		3,~~874~~746,~~622~~782.4466		9,~~664~~376,~~352~~382.1577
Current Scheduled Payments 3 Month Prior										5,~~984~~789,~~006~~729.8271		43,~~008~~874,~~845~~622.3044		9,~~992~~664,~~852~~352.1315
Current Scheduled Payments 4 Month Prior										65,~~091~~984,~~852~~006.6382		4,~~076~~008,~~576~~845.6630		109,~~168~~992,~~429~~852.2913
Current Scheduled Payments 5 Month Prior										06,091,852.0063		04,076,576.0066		010,168,429.0029
Current Scheduled Payments 6 Month Prior										0.00		0.00		0.00
Current Scheduled Payments 7 Month Prior										0.00		0.00		0.00
Current Scheduled Payments 8 Month Prior										0.00		0.00		0.00
Current Scheduled Payments 9 Month Prior										0.00		0.00		0.00
Current Scheduled Payments 10 Month Prior										0.00		0.00		0.00
Current Scheduled Payments 11 Month Prior										0.00		0.00		0.00
Sched. Payments for 60+Day Delinquent Loans										~~135~~158,~~694~~306.0009		7486,~~629~~202.2399		~~210~~244,~~323~~509.2309
Sched. Pmts - 60+Day Delinquent Loans, 1 Month Prior										~~104~~135,~~915~~694.4200		6074,~~343~~629.3723		~~165~~210,~~258~~323.7823
Sched. Pmts - 60+Day Delinquent Loans, 2 Month Prior										67104,~~113~~915.2542		4060,~~922~~343.8937		~~108~~165,~~036~~258.1478
Sched. Pmts - 60+Day Delinquent Loans, 3 Month Prior										4367,~~014~~113.6825		1940,~~054~~922.4989		62108,~~069~~036.1714
Sched. Pmts - 60+Day Delinquent Loans, 4 Month Prior										143,~~286~~014.0668		119,~~923~~054.1749		362,~~209~~069.2417
Sched. Pmts - 60+Day Delinquent Loans, 5 Month Prior										01,286.0006		01,923.0017		03,209.0024
Sched. Pmts - 60+Day Delinquent Loans, 6 Month Prior										0.00		0.00		0.00
Sched. Pmts - 60+Day Delinquent Loans, 7 Month Prior										0.00		0.00		0.00
Sched. Pmts - 60+Day Delinquent Loans, 8 Month Prior										0.00		0.00		0.00
Sched. Pmts - 60+Day Delinquent Loans, 9 Month Prior										0.00		0.00		0.00
Sched. Pmts - 60+Day Delinquent Loans, 10 Month Prior										0.00		0.00		0.00
Sched. Pmts - 60+Day Delinquent Loans, 11 Month Prior										0.00		0.00		0.00
Page 31 of 31
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Filing Compare · Morgan Stanley ABS Capital I Inc. Trust 2005-NC1