                                    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): August 25, 2005
                             (Date of earliest event reported)


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


                                         DELAWARE
                     (State or Other Jurisdiction of Incorporation)

               333-113543-24                        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 Home Equity Loan Trust, Mortgage Pass-Through Certificates Series 2005-1,
     which was made on January 1, 2005


     Item 9.01 Financial Statements and Exhibits.

     (c) Exhibits

     Exhibit No. Description

     99.1 Monthly Remittance Statement to the Certificateholders dated as of
     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:  Aug 26, 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
              August 25, 2005.



Morgan Stanley Home Equity Loan Trust 2005-1

Mortgage Pass-Through Certificates

2005-1

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					17
										9. Prepayment Detail Report					20

										10. Realized Loss Report					25
										11. Realized Loss Detail Report					28
				Servicer(s)
										12. Triggers and Adj. Cert. Report					29
				Chase Securities, Inc
										13. Other Related Information					30
				HomeQ Servicing Corp.



				Underwriter(s)
				Morgan Stanley
				Utendahl Capital Partners, L.P.


										Total Number of Pages					30


				Dates						Contacts

				Cut-Off Date:			January 01, 2005			Marion Hogan
				Close Date:			January 28, 2005			Administrator
				First Distribution Date:			February 25, 2005			(714) 247-6282
										marion.c.hogan@db.com

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

							August 24, 2005


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






Page 1 of 30
Morgan Stanley Home Equity Loan Trust 2005-1

Mortgage Pass-Through Certificates

2005-1

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/STP/WAC	$	293,823,000.00		249,843,540.13		802,483.57		12,126,202.00		12,928,685.57		0.00		0.00		237,717,338.13

A-1MZ	FLT/STP/WAC	$	73,456,000.00		62,461,097.60		201,697.29		3,031,560.81		3,233,258.10		0.00		0.00		59,429,536.79
A-2A	FLT/STP/WAC	$	161,866,000.00		95,120,508.54		293,235.39		12,295,707.13		12,588,942.52		0.00		0.00		82,824,801.41
A-2B	FLT/STP/WAC	$	180,000,000.00		180,000,000.00		568,850.00		0.00		568,850.00		0.00		0.00		180,000,000.00
A-2C	FLT/STP/WAC	$	35,000,000.00		35,000,000.00		114,829.17		0.00		114,829.17		0.00		0.00		35,000,000.00
M-1	SUB/FLT/WAC	$	30,569,000.00		30,569,000.00		102,924.12		0.00		102,924.12		0.00		0.00		30,569,000.00
M-2	SUB/FLT/WAC	$	27,831,000.00		27,831,000.00		94,184.74		0.00		94,184.74		0.00		0.00		27,831,000.00
M-3	SUB/FLT/WAC	$	17,794,000.00		17,794,000.00		60,983.99		0.00		60,983.99		0.00		0.00		17,794,000.00
M-4	SUB/FLT/WAC	$	15,512,000.00		15,512,000.00		55,567.43		0.00		55,567.43		0.00		0.00		15,512,000.00
M-5	SUB/FLT/WAC	$	14,600,000.00		14,600,000.00		52,929.06		0.00		52,929.06		0.00		0.00		14,600,000.00
M-6	SUB/FLT/WAC	$	13,232,000.00		13,232,000.00		49,109.10		0.00		49,109.10		0.00		0.00		13,232,000.00
B-1	SUB/FLT/WAC	$	11,862,000.00		11,862,000.00		48,621.02		0.00		48,621.02		0.00		0.00		11,862,000.00
B-2	SUB/FLT/WAC	$	7,756,000.00		7,756,000.00		32,592.44		0.00		32,592.44		0.00		0.00		7,756,000.00
B-3	SUB/FLT/WAC	$	9,126,000.00		9,126,000.00		45,264.96		0.00		45,264.96		0.00		0.00		9,126,000.00
X	SUB/FLT/WAC	$	20,075,053.00		20,075,045.17		1,838,157.02		0.00		1,838,157.02		0.00		0.00		20,075,045.17
UT-R	RES	$	0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00
P	EXE	$	0.00		0.00		617,007.34		0.00		617,007.34		0.00		0.00		0.00

Total			912,502,053.00		790,782,191.44		4,978,436.64		27,453,469.94		32,431,906.58		0.00		0.00		763,328,721.50





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	07/25/05		08/24/05		A-Act/360		61744CKZ8		293,823,000.00		850.319887		2.731180		41.270432		44.001612	809.049455
A-1MZ	07/25/05		08/24/05		A-Act/360		61744CLA2		73,456,000.00		850.319887		2.745825		41.270431		44.016256	809.049455
A-2A	07/25/05		08/24/05		A-Act/360		61744CLB0		161,866,000.00		587.649714		1.811593		75.962260		77.773853	511.687454
A-2B	07/25/05		08/24/05		A-Act/360		61744CLC8		180,000,000.00		1,000.000000		3.160278		0.000000		3.160278	1,000.000000
A-2C	07/25/05		08/24/05		A-Act/360		61744CLD6		35,000,000.00		1,000.000000		3.280833		0.000000		3.280833	1,000.000000
M-1	07/25/05		08/24/05		A-Act/360		61744CLE4		30,569,000.00		1,000.000000		3.366944		0.000000		3.366944	1,000.000000
M-2	07/25/05		08/24/05		A-Act/360		61744CLF1		27,831,000.00		1,000.000000		3.384167		0.000000		3.384167	1,000.000000
M-3	07/25/05		08/24/05		A-Act/360		61744CLG9		17,794,000.00		1,000.000000		3.427222		0.000000		3.427222	1,000.000000
M-4	07/25/05		08/24/05		A-Act/360		61744CLH7		15,512,000.00		1,000.000000		3.582222		0.000000		3.582222	1,000.000000
M-5	07/25/05		08/24/05		A-Act/360		61744CLJ3		14,600,000.00		1,000.000000		3.625278		0.000000		3.625278	1,000.000000
M-6	07/25/05		08/24/05		A-Act/360		61744CLK0		13,232,000.00		1,000.000000		3.711389		0.000000		3.711389	1,000.000000
B-1	07/25/05		08/24/05		A-Act/360		61744CLL8		11,862,000.00		1,000.000000		4.098889		0.000000		4.098889	1,000.000000
B-2	07/25/05		08/24/05		A-Act/360		61744CLM6		7,756,000.00		1,000.000000		4.202223		0.000000		4.202223	1,000.000000
B-3	07/25/05		08/24/05		A-Act/360		61744CLN4		9,126,000.00		1,000.000000		4.960000		0.000000		4.960000	1,000.000000
X	07/25/05		08/24/05		A-Act/360		MS05X1101		20,075,053.00		999.999610		91.564242		0.000000		91.564242	999.999610
UT-R	07/25/05		08/24/05		A-30/360		MS05X1103		0.00		0.000000		0.000000		0.000000		0.000000	0.000000
P	07/25/05		08/24/05		A-30/360		MS05X1102		0.00		0.000000		0.000000		0.000000		0.000000	0.000000



Page 2 of 30
Morgan Stanley Home Equity Loan Trust 2005-1

Mortgage Pass-Through Certificates

2005-1

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	293,823,000.00		5,188,309.40		54,818,483.85		1,287,178.02		56,105,661.87		61,293,971.27		0.00		0.00		237,717,338.13
A-1MZ	73,456,000.00		1,305,056.05		13,704,667.60		321,795.60		14,026,463.21		15,331,519.26		0.00		0.00		59,429,536.79
A-2A	161,866,000.00		2,337,271.70		77,157,410.81		1,883,787.78		79,041,198.59		81,378,470.29		0.00		0.00		82,824,801.41
A-2B	180,000,000.00		3,353,588.20		0.00		0.00		0.00		3,353,588.20		0.00		0.00		180,000,000.00
A-2C	35,000,000.00		680,533.80		0.00		0.00		0.00		680,533.80		0.00		0.00		35,000,000.00
M-1	30,569,000.00		612,125.25		0.00		0.00		0.00		612,125.25		0.00		0.00		30,569,000.00
M-2	27,831,000.00		560,529.98		0.00		0.00		0.00		560,529.98		0.00		0.00		27,831,000.00
M-3	17,794,000.00		363,545.09		0.00		0.00		0.00		363,545.09		0.00		0.00		17,794,000.00
M-4	15,512,000.00		333,132.11		0.00		0.00		0.00		333,132.11		0.00		0.00		15,512,000.00
M-5	14,600,000.00		317,784.26		0.00		0.00		0.00		317,784.26		0.00		0.00		14,600,000.00
M-6	13,232,000.00		295,690.22		0.00		0.00		0.00		295,690.22		0.00		0.00		13,232,000.00
B-1	11,862,000.00		296,064.87		0.00		0.00		0.00		296,064.87		0.00		0.00		11,862,000.00
B-2	7,756,000.00		198,986.14		0.00		0.00		0.00		198,986.14		0.00		0.00		7,756,000.00
B-3	9,126,000.00		280,758.27		0.00		0.00		0.00		280,758.27		0.00		0.00		9,126,000.00
X	20,075,053.00		17,748,733.04		7.53		0.31		7.83		17,748,740.87		0.00		0.00		20,075,045.17
UT-R	0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00
P	0.00		3,434,562.56		0.00		0.00		0.00		3,434,562.56		0.00		0.00		0.00

Total	912,502,053.00		37,306,670.94		145,680,569.79		3,492,761.71		149,173,331.50		186,480,002.44		0.00		0.00		763,328,721.50


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	3.73000%		249,843,540.13		802,483.57		0.00		0.00		0.00		802,483.57		802,483.57		0.00
A-1MZ	3.75000%		62,461,097.60		201,697.29		0.00		0.00		0.00		201,697.29		201,697.29		0.00
A-2A	3.58000%		95,120,508.54		293,235.39		0.00		0.00		0.00		293,235.39		293,235.39		0.00
A-2B	3.67000%		180,000,000.00		568,850.00		0.00		0.00		0.00		568,850.00		568,850.00		0.00
A-2C	3.81000%		35,000,000.00		114,829.17		0.00		0.00		0.00		114,829.17		114,829.17		0.00
M-1	3.91000%		30,569,000.00		102,924.12		0.00		0.00		0.00		102,924.12		102,924.12		0.00
M-2	3.93000%		27,831,000.00		94,184.74		0.00		0.00		0.00		94,184.74		94,184.74		0.00
M-3	3.98000%		17,794,000.00		60,983.99		0.00		0.00		0.00		60,983.99		60,983.99		0.00
M-4	4.16000%		15,512,000.00		55,567.43		0.00		0.00		0.00		55,567.43		55,567.43		0.00
M-5	4.21000%		14,600,000.00		52,929.06		0.00		0.00		0.00		52,929.06		52,929.06		0.00
M-6	4.31000%		13,232,000.00		49,109.10		0.00		0.00		0.00		49,109.10		49,109.10		0.00
B-1	4.76000%		11,862,000.00		48,621.02		0.00		0.00		0.00		48,621.02		48,621.02		0.00
B-2	4.88000%		7,756,000.00		32,592.44		0.00		0.00		0.00		32,592.44		32,592.44		0.00
B-3	5.76000%		9,126,000.00		45,264.96		0.00		0.00		0.00		45,264.96		45,264.96		0.00
X	106.33271%		20,075,045.17		0.00		0.00		0.00		0.00		0.00		1,838,157.02		0.00
UT-R	0.00000%		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00
P	0.00000%		0.00		0.00		0.00		0.00		0.00		0.00		617,007.34		0.00

Total			790,782,191.44		2,523,272.28		0.00		0.00		0.00		2,523,272.28		4,978,436.64		0.00



Page 3 of 30
Morgan Stanley Home Equity Loan Trust 2005-1

Mortgage Pass-Through Certificates

2005-1

August 25, 2005 Distribution
Collection Account Report
SUMMARY

										Group 2		Group 1		Total
Principal Collections										12,246,549.43		15,097,162.75		27,343,712.18
Principal Withrawals										0.00		0.00		0.00
Principal Other Accounts										0.00		0.00		0.00
TOTAL NET PRINCIPAL										12,246,549.43		15,097,162.75		27,343,712.18
Interest Collections										2,240,237.94		2,288,232.51		4,528,470.45
Interest Withdrawals										-172.76		-1,863.98		-2,036.74
Interest Other Accounts										0.00		0.00		617,007.34
Interest Fees										-26,609.39		-28,637.26		-55,246.65
TOTAL NET INTEREST										2,213,455.79		2,257,731.26		5,088,194.40
TOTAL AVAILABLE FUNDS FOR DISTRIBUTION										14,460,005.22		17,354,894.01		32,431,906.58



PRINCIPAL - COLLECTIONS

											Group 2		Group 1		Total
Scheduled Principal Received											236,652.84		228,787.88		465,440.72
Prepayments In Full											11,933,443.82		14,860,822.42		26,794,266.24
Curtailments											11,087.06		7,652.45		18,739.51
Liquidations											114,886.07		60,137.40		175,023.47
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											-49,520.36		-60,237.40		-109,757.76
Delinquent Principal											-206,150.75		-199,140.62		-405,291.37
Advanced Principal											206,150.75		199,140.62		405,291.37
TOTAL PRINCIPAL COLLECTED											12,246,549.43		15,097,162.75		27,343,712.18


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 30
Morgan Stanley Home Equity Loan Trust 2005-1

Mortgage Pass-Through Certificates

2005-1

August 25, 2005 Distribution

INTEREST - COLLECTIONS

										Group 2		Group 1		Total
Scheduled Interest										2,379,681.98		2,425,657.73		4,805,339.71
Liquidation Interest										679.81		632.70		1,312.51
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										-17,881.46		-17,617.50		-35,498.96
Compensating Interest										17,881.46		17,617.50		35,498.96
Delinquent Interest										-2,022,825.99		-2,034,105.50		-4,056,931.49
Interest Advanced										1,882,702.14		1,896,047.58		3,778,749.72
TOTAL INTEREST COLLECTED										2,240,237.94		2,288,232.51		4,528,470.45


INTEREST - WITHDRAWALS

										Group 2		Group 1		Total
Nonrecoverable Advances										0.00		0.00		0.00
TOTAL INTEREST WITHDRAWALS										172.76		1,863.98		2,036.74



INTEREST - OTHER ACCOUNTS

										Group 2		Group 1		Total
Prepayment Charges														617,007.34
TOTAL INTEREST OTHER ACCOUNTS										0.00		0.00		617,007.34



INTEREST - FEES

										Group 2		Group 1		Total
Current Servicing Fees										24,961.89		26,989.84		51,951.73
Current Trustee Fees										1,647.50		1,647.42		3,294.93
TOTAL INTEREST OTHER FEES										26,609.39		28,637.26		55,246.65




Page 5 of 30
Morgan Stanley Home Equity Loan Trust 2005-1

Mortgage Pass-Through Certificates

2005-1

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														19,965,287.41
Overcollateralization Target Amount														20,075,045.17
Overcollateralization Deficiency Amount														109,757.76
Overcollateralization Release Amount														0.00




Page 6 of 30
Morgan Stanley Home Equity Loan Trust 2005-1

Mortgage Pass-Through Certificates

2005-1

August 25, 2005 Distribution
Collateral Report


COLLATERAL



											Group 2		Group 1		Total



Loan Count:


Original										2,955		3,568		6,523
Prior										2,590		3,223		5,813
Prefunding										0		0		0
Scheduled Paid Offs										-0		-0		-0
Full Voluntary Prepayments										-66		-107		-173
Repurchases										-0		-0		-0
Liquidations										-2		-1		-3
Current										2,522		3,115		5,637
Principal Balance:


Original										461,996,371.69		449,845,887.51		911,842,259.20
Prior										395,400,559.58		395,381,631.86		790,782,191.44
Prefunding										0.00		0.00		0.00
Scheduled Principal										-236,652.84		-228,787.88		-465,440.72
Partial Prepayments										-11,087.06		-7,652.45		-18,739.51
Full Voluntary Prepayments										-11,933,443.82		-14,860,822.42		-26,794,266.24
Repurchases										-0.00		-0.00		-0.00
Liquidations										-114,886.07		-60,137.40		-175,023.47
Current										383,104,489.79		380,224,231.71		763,328,721.50





PREFUNDING

SPACE INTENTIONALLY LEFT BLANK






Page 7 of 30
Morgan Stanley Home Equity Loan Trust 2005-1

Mortgage Pass-Through Certificates

2005-1

August 25, 2005 Distribution

CHARACTERISTICS

										Group 2		Group 1		Total
Weighted Average Coupon Original										7.23097%		7.35011%		7.28975%
Weighted Average Coupon Prior										7.22416%		7.36407%		7.29398%
Weighted Average Coupon Current										7.22415%		7.36579%		7.29497%
Weighted Average Months to Maturity Original										351		345		348
Weighted Average Months to Maturity Prior										346		340		343
Weighted Average Months to Maturity Current										345		339		342
Weighted Avg Remaining Amortization Term Original										351		345		348
Weighted Avg Remaining Amortization Term Prior										346		340		343
Weighted Avg Remaining Amortization Term Current										345		339		342
Weighted Average Seasoning Original										4.99		4.95		4.97
Weighted Average Seasoning Prior										9.98		9.93		9.95
Weighted Average Seasoning Current										10.97		10.93		10.95









Page 8 of 30
Morgan Stanley Home Equity Loan Trust 2005-1

Mortgage Pass-Through Certificates

2005-1

August 25, 2005 Distribution

ARM CHARACTERISTICS

										Group 2		Group 1		Total
Weighted Average Margin Original										6.59175%		6.54028%		6.56751%
Weighted Average Margin Prior										6.56443%		6.52721%		6.54672%
Weighted Average Margin Current										6.56164%		6.52582%		6.54457%
Weighted Average Max Rate Original										13.92543%		13.84364%		13.88691%
Weighted Average Max Rate Prior										13.89721%		13.83262%		13.86647%
Weighted Average Max Rate Current										13.89335%		13.83780%		13.86689%
Weighted Average Min Rate Original										7.15325%		7.11240%		7.13401%
Weighted Average Min Rate Prior										7.13245%		7.10273%		7.11830%
Weighted Average Min Rate Current										7.12960%		7.10613%		7.11842%
Weighted Average Cap Up Original										1.06895%		1.05995%		1.06471%
Weighted Average Cap Up Prior										1.07247%		1.06117%		1.06709%
Weighted Average Cap Up Current										1.07264%		1.06231%		1.06772%
Weighted Average Cap Down Original										1.06895%		1.05995%		1.06471%
Weighted Average Cap Down Prior										1.07247%		1.06117%		1.06709%
Weighted Average Cap Down Current										1.07264%		1.06231%		1.06772%




SERVICING FEES & ADVANCES

											Group 2		Group 1		Total




Current Servicing Fees										24,961.89		26,989.84		51,951.73
Delinquent Servicing Fees										139,770.46		137,740.04		277,510.50
TOTAL SERVICING FEES										164,732.36		164,729.89		329,462.25


Compensating Interest										-17,881.46		-17,617.50		-35,498.96
Delinquent Servicing Fees										-139,770.46		-137,740.04		-277,510.50
COLLECTED SERVICING FEES										112,549.03		9,359.88		16,422.44


Aggregate Advances with respect to this Distribution										1,809,302.02		1,612,175.39		3,421,477.41





ADDITIONAL COLLATERAL INFORMATION
										Group 2		Group 1		Total
Net Prepayment Interest Shortfall										0.00		0.00		0.00
Libor For Current Period														3.4600%
Libor For Next Period														0.0000%
Libor For Class A-3b for current Period




Page 9 of 30
Morgan Stanley Home Equity Loan Trust 2005-1

Mortgage Pass-Through Certificates

2005-1

August 25, 2005 Distribution
Delinquency Report

	TOTAL
					< 1 PAYMENT		1 PAYMENT		2 PAYMENTS		3+ PAYMENTS		TOTAL
	DELINQUENT		Balance				15,345,464.27		2,727,873.30		1,005,343.16		19,078,680.73
			% Balance				2.01%		0.36%		0.13%		2.50%
			# Loans				116		22		10		148
			% # Loans				2.06%		0.39%		0.18%		2.63%
	FORECLOSURE		Balance		83,582.75		0.00		2,900,664.76		10,104,935.19		13,089,182.70
			% Balance		0.01%		0.00%		0.38%		1.32%		1.71%
			# Loans		1		0		25		77		103
			% # Loans		0.02%		0.00%		0.44%		1.37%		1.83%
	BANKRUPTCY		Balance		3,739,228.37		122,788.24		337,299.92		1,800,202.74		5,999,519.27
			% Balance		0.49%		0.02%		0.04%		0.24%		0.79%
			# Loans		31		3		4		17		55
			% # Loans		0.55%		0.05%		0.07%		0.30%		0.98%
	REO		Balance		0.00		0.00		0.00		1,863,947.62		1,863,947.62
			% Balance		0.00%		0.00%		0.00%		0.24%		0.24%
			# Loans		0		0		0		16		16
			% # Loans		0.00%		0.00%		0.00%		0.28%		0.28%
	TOTAL		Balance		3,822,811.12		15,468,252.51		5,965,837.98		14,774,428.71		40,031,330.32
			% Balance		0.50%		2.03%		0.78%		1.94%		5.24%
			# Loans		32		119		51		120		322
			% # Loans		0.57%		2.11%		0.90%		2.13%		5.71%









Page 10 of 30
Morgan Stanley Home Equity Loan Trust 2005-1

Mortgage Pass-Through Certificates

2005-1

August 25, 2005 Distribution


	GROUP 1
					< 1 PAYMENT		1 PAYMENT		2 PAYMENTS		3+ PAYMENTS		TOTAL
	DELINQUENT		Balance				6,672,253.54		1,114,751.97		415,804.30		8,202,809.81
			% Balance				1.75%		0.29%		0.11%		2.16%
			# Loans				54		9		5		68
			% # Loans				1.73%		0.29%		0.16%		2.18%
	FORECLOSURE		Balance		0.00		0.00		1,656,647.07		4,971,724.37		6,628,371.44
			% Balance		0.00%		0.00%		0.44%		1.31%		1.74%
			# Loans		0		0		15		40		55
			% # Loans		0.00%		0.00%		0.48%		1.28%		1.77%
	BANKRUPTCY		Balance		1,470,640.41		122,788.24		201,561.69		966,325.04		2,761,315.38
			% Balance		0.39%		0.03%		0.05%		0.25%		0.73%
			# Loans		14		3		2		10		29
			% # Loans		0.45%		0.10%		0.06%		0.32%		0.93%
	REO		Balance		0.00		0.00		0.00		631,567.26		631,567.26
			% Balance		0.00%		0.00%		0.00%		0.17%		0.17%
			# Loans		0		0		0		5		5
			% # Loans		0.00%		0.00%		0.00%		0.16%		0.16%
	TOTAL		Balance		1,470,640.41		6,795,041.78		2,972,960.73		6,985,420.97		18,224,063.89
			% Balance		0.39%		1.79%		0.78%		1.84%		4.79%
			# Loans		14		57		26		60		157
			% # Loans		0.45%		1.83%		0.83%		1.93%		5.04%










Page 11 of 30
Morgan Stanley Home Equity Loan Trust 2005-1

Mortgage Pass-Through Certificates

2005-1

August 25, 2005 Distribution

	GROUP 2
					< 1 PAYMENT		1 PAYMENT		2 PAYMENTS		3+ PAYMENTS		TOTAL
	DELINQUENT		Balance				8,673,210.73		1,613,121.33		589,538.86		10,875,870.92
			% Balance				2.26%		0.42%		0.15%		2.84%
			# Loans				62		13		5		80
			% # Loans				2.46%		0.52%		0.20%		3.17%
	FORECLOSURE		Balance		83,582.75		0.00		1,244,017.69		5,133,210.82		6,460,811.26
			% Balance		0.02%		0.00%		0.32%		1.34%		1.69%
			# Loans		1		0		10		37		48
			% # Loans		0.04%		0.00%		0.40%		1.47%		1.90%
	BANKRUPTCY		Balance		2,268,587.96		0.00		135,738.23		833,877.70		3,238,203.89
			% Balance		0.59%		0.00%		0.04%		0.22%		0.85%
			# Loans		17		0		2		7		26
			% # Loans		0.67%		0.00%		0.08%		0.28%		1.03%
	REO		Balance		0.00		0.00		0.00		1,232,380.36		1,232,380.36
			% Balance		0.00%		0.00%		0.00%		0.32%		0.32%
			# Loans		0		0		0		11		11
			% # Loans		0.00%		0.00%		0.00%		0.44%		0.44%
	TOTAL		Balance		2,352,170.71		8,673,210.73		2,992,877.25		7,789,007.74		21,807,266.43
			% Balance		0.61%		2.26%		0.78%		2.03%		5.69%
			# Loans		18		62		25		60		165
			% # Loans		0.71%		2.46%		0.99%		2.38%		6.54%









Page 12 of 30
Morgan Stanley Home Equity Loan Trust 2005-1

Mortgage Pass-Through Certificates

2005-1

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
322555038 1
			174,250.00		173,117.70		01-Nov-2004		8.800%		MI - 85.00%		360		01-Oct-2004

322555772 1			147,200.00		146,394.71		01-Nov-2004		10.200%		CO - 80.00%		360		01-Oct-2004
322560459 1			128,800.00		127,777.31		01-Feb-2005		7.800%		MI - 80.00%		360		01-Oct-2004
322561325 1			65,600.00		65,108.93		01-Jan-2005		7.600%		MO - 80.00%		360		01-Nov-2004
322859117 1			119,760.00		119,168.61		01-Feb-2005		9.125%		MI - 80.00%		360		01-Dec-2004
322244666 2			103,200.00		102,260.19		01-Dec-2004		7.100%		MN - 80.00%		360		01-Oct-2004
322553405 2			128,800.00		127,937.13		01-Jan-2005		8.650%		MI - 80.00%		360		01-Oct-2004
322553454 2			75,650.00		75,147.76		01-Jan-2005		9.550%		MI - 85.00%		360		01-Aug-2004
322555566 2			48,000.00		47,667.59		01-Feb-2005		8.500%		MO - 80.00%		360		01-Oct-2004
322556358 2			143,764.00		143,764.00		01-Dec-2004		7.700%		TX - 80.00%		360		01-Oct-2004
322556598 2			138,700.00		137,826.24		01-Dec-2004		9.100%		MI - 95.00%		360		01-Oct-2004
322558800 2			74,955.00		74,617.65		01-Dec-2004		11.000%		TX - 95.00%		360		01-Sep-2004
322559998 2			95,920.00		95,094.61		01-Feb-2005		7.850%		MO - 80.00%		360		01-Sep-2004
322560038 2			152,450.00		151,459.38		01-Nov-2004		8.800%		MI - 89.15%		360		01-Oct-2004
322565219 2			198,000.00		196,332.18		01-Nov-2004		7.500%		CO - 90.00%		360		01-Oct-2004
322863168 2			80,750.00		80,273.63		01-Dec-2004		8.250%		NE - 95.00%		360		01-Dec-2004


TOTAL			1,875,799.00		1,863,947.62


Page 13 of 30
Morgan Stanley Home Equity Loan Trust 2005-1

Mortgage Pass-Through Certificates

2005-1

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
19145507 1
			346,500.00		343,814.03		01-Feb-2005		8.375%		IL - 94.99%		360		01-Sep-2004

19145523 1			136,000.00		134,767.48		01-Mar-2005		7.125%		IL - 80.00%		360		01-Oct-2004
19146786 1			71,200.00		70,605.21		01-Feb-2005		8.000%		WI - 79.11%		360		01-Sep-2004
19146794 1			17,850.00		17,779.75		01-Mar-2005		11.625%		WI - 19.83%		180		01-Sep-2004
19147685 1			51,800.00		51,642.06		01-Feb-2005		12.375%		CA - 20.00%		360		01-Oct-2004
19147768 1			284,800.00		284,800.00		01-Dec-2004		7.000%		CA - 80.00%		360		01-Oct-2004
19150085 1			138,400.00		137,535.75		01-Mar-2005		9.000%		LA - 80.00%		360		01-Oct-2004
19150846 1			132,800.00		131,653.62		01-Nov-2004		7.375%		WA - 80.00%		360		01-Oct-2004
19151901 1			258,000.00		255,981.55		01-Mar-2005		7.875%		IL - 100.00%		360		01-Oct-2004
19152461 1			183,450.00		181,575.53		01-Mar-2005		6.500%		GA - 79.76%		360		01-Oct-2004
19152594 1			111,350.00		110,739.15		01-Apr-2005		9.625%		MI - 85.00%		360		01-Oct-2004
19152719 1			243,000.00		241,322.09		01-Mar-2005		8.500%		FL - 90.00%		360		01-Oct-2004
19157528 1			108,000.00		107,422.62		01-Feb-2005		9.750%		TN - 79.41%		360		01-Oct-2004
19159110 1			136,000.00		135,149.36		01-Feb-2005		8.500%		IL - 80.00%		360		01-Nov-2004
19159573 1			60,000.00		59,541.95		01-Apr-2005		7.500%		IA - 77.42%		360		01-Nov-2004
19160282 1			156,000.00		154,732.11		01-Apr-2005		7.375%		IL - 76.47%		360		01-Nov-2004
321802787 1			82,000.00		81,888.46		01-Feb-2005		4.350%		WA - 80.00%		360		01-May-2004
322119926 1			72,650.00		71,902.22		01-Mar-2005		8.250%		IN - 83.51%		360		01-Jun-2004
322121369 1			56,007.00		55,539.13		01-Dec-2004		8.000%		OK - 76.20%		360		01-Sep-2004
322245804 1			109,800.00		108,900.90		01-Mar-2005		7.650%		IL - 90.00%		360		01-Oct-2004
322553546 1			137,810.00		136,867.96		01-Apr-2005		8.550%		TX - 88.57%		360		01-Oct-2004
322553561 1			67,200.00		67,200.00		01-Mar-2005		6.500%		OK - 80.00%		360		01-Oct-2004
322555715 1			76,800.00		76,799.16		01-Apr-2005		7.800%		TX - 80.00%		360		01-Sep-2004
322556226 1			123,824.00		123,824.00		01-Feb-2005		7.000%		OH - 80.00%		360		01-Oct-2004
322558214 1			100,616.00		100,043.61		01-Mar-2005		9.450%		TX - 80.00%		360		01-Oct-2004
322559451 1			70,800.00		70,389.73		01-Apr-2005		9.800%		TX - 80.00%		360		01-Sep-2004
322559477 1			99,200.00		98,545.05		01-Jan-2005		9.950%		TX - 80.00%		360		01-Sep-2004
322561820 1			220,000.00		220,000.00		01-Dec-2004		6.450%		CO - 80.00%		360		01-Oct-2004
322561929 1			181,600.00		180,100.02		01-Apr-2005		7.600%		IL - 80.00%		360		01-Oct-2004
322562307 1			53,650.00		53,290.58		01-Feb-2005		8.650%		OH - 80.08%		360		01-Oct-2004
322562950 1			48,800.00		48,800.00		01-Apr-2005		9.100%		MI - 80.00%		360		01-Oct-2004
322563107 1			106,400.00		106,400.00		01-Mar-2005		8.400%		MI - 80.00%		360		01-Oct-2004
322563222 1			210,000.00		210,000.00		01-Feb-2005		5.450%		CA - 79.25%		360		01-Oct-2004
322564378 1			180,000.00		178,738.94		01-Feb-2005		8.550%		TX - 90.00%		360		01-Oct-2004
322564873 1			265,600.00		265,600.00		01-Mar-2005		7.200%		TX - 80.00%		360		01-Nov-2004
322564915 1			73,600.00		73,600.00		01-Apr-2005		5.400%		MI - 80.00%		360		01-Oct-2004
322569567 1			198,000.00		196,278.04		01-Apr-2005		6.875%		MD - 60.00%		360		01-Nov-2004
322572678 1			172,000.00		169,781.71		01-Dec-2004		5.250%		OH - 80.00%		360		01-Oct-2004
322579475 1			118,400.00		117,802.70		01-Apr-2005		9.550%		OH - 80.00%		360		01-Nov-2004
322579715 1			144,000.00		143,307.05		01-Mar-2005		9.250%		IL - 80.00%		360		01-Dec-2004
322583204 1			92,400.00		91,620.90		01-Mar-2005		6.990%		SC - 80.00%		360		01-Oct-2004
322585480 1			175,200.00		175,200.00		01-Dec-2004		6.190%		OH - 80.00%		360		01-Oct-2004
322587635 1			85,000.00		84,209.28		01-Nov-2004		6.990%		PA - 85.00%		360		01-Oct-2004
322594524 1			54,400.00		54,046.49		01-Apr-2005		10.250%		IN - 85.00%		360		01-Aug-2004
322594680 1			150,000.00		148,323.43		01-Dec-2004		6.500%		WA - 80.00%		360		01-Sep-2004
322594698 1			37,500.00		37,396.56		01-Dec-2004		13.250%		WA - 20.00%		180		01-Sep-2004
322595992 1			40,000.00		39,759.56		01-Jan-2005		9.625%		PA - 100.00%		360		01-Sep-2004
322596065 1			22,700.00		22,539.69		01-Nov-2004		9.250%		AZ - 20.00%		180		01-Aug-2004
322858408 1			42,000.00		41,750.32		01-Apr-2005		8.750%		AL - 70.00%		360		01-Nov-2004


Page 14 of 30
Morgan Stanley Home Equity Loan Trust 2005-1

Mortgage Pass-Through Certificates

2005-1

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
322858648 1
			233,600.00		232,280.06		01-Apr-2005		9.000%		IL - 80.00%		360		01-Nov-2004

322859349 1			103,500.00		102,919.38		01-Apr-2005		8.500%		WA - 90.00%		360		01-Dec-2004
322859430 1			122,400.00		122,394.79		01-Mar-2005		6.500%		MA - 80.00%		360		01-Dec-2004
322860495 1			16,580.00		16,463.86		01-Mar-2005		14.250%		IN - 20.00%		240		01-Dec-2004
322861857 1			44,200.00		43,882.08		01-Mar-2005		7.250%		IN - 85.00%		360		01-Dec-2004
322862186 1			41,220.00		40,923.52		01-Mar-2005		7.250%		IN - 84.99%		360		01-Dec-2004
19144104 2			200,000.00		198,488.04		01-Mar-2005		8.500%		FL - 76.92%		360		01-Sep-2004
19146182 2			128,000.00		127,230.79		01-Jan-2005		9.625%		IL - 80.00%		360		01-Sep-2004
19147677 2			207,200.00		205,695.70		01-Mar-2005		8.250%		CA - 80.00%		360		01-Oct-2004
19148543 2			468,000.00		468,000.00		01-Dec-2004		6.375%		CO - 90.00%		360		01-Oct-2004
19148824 2			55,350.00		54,984.05		01-Dec-2004		9.125%		IL - 90.00%		360		01-Oct-2004
19149590 2			148,000.00		146,487.75		01-Feb-2005		6.500%		CA - 77.49%		360		01-Oct-2004
19149780 2			59,400.00		58,860.76		01-Dec-2004		7.625%		IL - 90.00%		360		01-Sep-2004
19151117 2			242,100.00		240,871.56		01-Jan-2005		10.000%		MN - 90.00%		360		01-Oct-2004
19151703 2			85,000.00		84,483.03		01-Dec-2004		9.125%		KY - 85.00%		360		01-Oct-2004
19152388 2			44,000.00		43,732.40		01-Mar-2005		9.125%		MO - 88.00%		360		01-Oct-2004
19154756 2			160,000.00		158,838.28		01-Jan-2005		8.250%		CA - 39.02%		360		01-Oct-2004
19158518 2			241,200.00		239,133.09		01-Dec-2004		7.125%		UT - 80.00%		360		01-Nov-2004
19159821 2			196,800.00		195,370.88		01-Apr-2005		7.750%		FL - 80.00%		360		01-Nov-2004
19160290 2			84,000.00		83,582.75		01-Jul-2005		9.625%		MI - 80.00%		360		01-Nov-2004
322119892 2			35,000.00		34,691.45		01-Apr-2005		8.150%		OK - 43.75%		360		01-Aug-2004
322120106 2			66,000.00		65,425.35		01-Dec-2004		8.600%		OR - 80.00%		360		01-Jul-2004
322120403 2			80,000.00		79,222.81		01-Feb-2005		8.050%		IN - 88.89%		360		01-Jul-2004
322121971 2			145,520.00		143,877.31		01-Apr-2005		6.550%		MN - 80.00%		360		01-Sep-2004
322243155 2			74,160.00		73,776.88		01-Feb-2005		10.350%		WI - 80.00%		360		01-Sep-2004
322245085 2			146,320.00		144,790.13		01-Jan-2005		6.850%		CO - 80.00%		360		01-Sep-2004
322555285 2			200,000.00		200,000.00		01-Feb-2005		6.700%		KY - 80.00%		360		01-Oct-2004
322555574 2			193,500.00		192,129.94		01-Jan-2005		8.450%		IL - 90.00%		360		01-Oct-2004
322555681 2			336,000.00		332,831.93		01-Nov-2004		7.150%		IL - 80.00%		360		01-Oct-2004
322555723 2			256,500.00		254,948.06		01-Dec-2004		9.150%		OH - 90.00%		360		01-Oct-2004
322556556 2			231,200.00		231,200.00		01-Apr-2005		7.350%		NV - 80.00%		360		01-Oct-2004
322556663 2			60,400.00		59,918.26		01-Feb-2005		10.250%		KS - 80.00%		360		01-Oct-2004
322558560 2			47,500.00		47,214.27		01-Feb-2005		9.700%		KS - 95.00%		360		01-Oct-2004
322559212 2			104,800.00		104,350.81		01-Apr-2005		10.800%		MO - 80.00%		360		01-Oct-2004
322559295 2			157,424.00		156,278.38		01-Mar-2005		8.800%		OH - 80.00%		360		01-Oct-2004
322559618 2			98,205.00		97,533.74		01-Apr-2005		8.550%		TX - 86.22%		360		01-Oct-2004
322560418 2			61,600.00		61,263.80		01-Mar-2005		9.650%		IN - 80.00%		360		01-Oct-2004
322561044 2			127,655.00		126,600.59		01-Mar-2005		7.600%		IL - 88.10%		360		01-Oct-2004
322561465 2			52,000.00		52,000.00		01-Jan-2005		8.800%		IN - 80.00%		360		01-Oct-2004
322561648 2			123,500.00		122,469.88		01-Nov-2004		7.550%		IL - 95.00%		360		01-Oct-2004
322562372 2			232,000.00		232,000.00		01-Mar-2005		6.650%		TX - 80.00%		360		01-Nov-2004
322564527 2			153,000.00		151,959.54		01-Apr-2005		8.100%		IL - 85.00%		360		01-Nov-2004
322578238 2			95,116.00		94,538.92		01-Mar-2005		8.650%		IN - 80.00%		360		01-Nov-2004
322578261 2			96,050.00		95,550.13		01-Feb-2005		9.400%		OH - 85.00%		360		01-Nov-2004
322579780 2			100,732.00		99,984.93		01-Apr-2005		8.550%		TX - 86.42%		360		01-Nov-2004
322580861 2			168,000.00		166,582.07		01-Feb-2005		7.490%		MD - 73.04%		360		01-Oct-2004
322585555 2			80,000.00		79,367.82		01-Mar-2005		7.950%		OH - 100.00%		360		01-Oct-2004
322589888 2			83,000.00		82,227.98		01-Nov-2004		6.990%		IN - 76.85%		360		01-Oct-2004
322591116 2			120,000.00		118,912.55		01-Dec-2004		7.125%		ME - 80.00%		360		01-Oct-2004
322860040 2			144,800.00		143,652.38		01-Jan-2005		6.750%		OH - 80.00%		360		01-Dec-2004
322860222 2			66,320.00		65,983.80		01-Feb-2005		8.999%		IN - 80.00%		360		01-Dec-2004


Page 15 of 30
Morgan Stanley Home Equity Loan Trust 2005-1

Mortgage Pass-Through Certificates

2005-1

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
322862210 2
			59,200.00		58,719.44		01-Mar-2005		6.625%		WA - 80.00%		360		01-Dec-2004

322862228 2			111,620.00		111,077.00		01-Apr-2005		9.249%		MI - 95.00%		360		01-Dec-2004
322862566 2			74,400.00		73,972.03		01-Apr-2005		8.375%		GA - 80.00%		360		01-Dec-2004


TOTAL			13,165,179.00		13,089,182.70


Page 16 of 30
Morgan Stanley Home Equity Loan Trust 2005-1

Mortgage Pass-Through Certificates

2005-1

August 25, 2005 Distribution
Prepayment Report

VOLUNTARY PREPAYMENTS


											Group 2		Group 1		Total




Current


Number of Paid in Full Loans										66		107		173
Number of Repurchased Loans										0		0		0
Total Number of Loans Prepaid in Full										66		107		173
Curtailments Amount										11,087.06		7,652.45		18,739.51
Paid in Full Balance										11,933,443.82		14,860,822.42		26,794,266.24
Repurchased Loans Balance										0.00		0.00		0.00
Total Prepayment Amount										11,944,530.88		14,868,474.87		26,813,005.75

Cumulative


Number of Paid in Full Loans										431		450		881
Number of Repurchased Loans										0		0		0
Total Number of Loans Prepaid in Full										431		450		881
Paid in Full Balance										76,304,029.84		67,358,966.03		143,662,995.87
Repurchased Loans Balance										0.00		0.00		0.00
Curtailments Amount										684,261.10		375,597.00		1,059,858.10
Total Prepayment Amount										76,988,290.94		67,734,563.03		144,722,853.97










Page 17 of 30
Morgan Stanley Home Equity Loan Trust 2005-1

Mortgage Pass-Through Certificates

2005-1

August 25, 2005 Distribution

VOLUNTARY PREPAYMENTS RATES


											Group 2		Group 1		Total



SMM										3.05%		3.78%		3.41%
3 Months Avg SMM										3.16%		3.17%		3.17%
12 Months Avg SMM										2.58%		2.32%		2.45%
Avg SMM Since Cut-off										2.58%		2.32%		2.45%


CPR										31.06%		37.01%		34.09%
3 Months Avg CPR										32.01%		32.05%		32.03%
12 Months Avg CPR										26.94%		24.53%		25.75%
Avg CPR Since Cut-off										26.94%		24.53%		25.75%


PSA										1,415.61%		1,693.09%		1,556.88%
3 Months Avg PSA Approximation										1,604.21%		1,613.95%		1,609.06%
12 Months Avg PSA Approximation										1,687.71%		1,545.03%		1,617.81%
Avg PSA Since Cut-off Approximation										1,687.71%		1,545.03%		1,617.81%










Page 18 of 30
Morgan Stanley Home Equity Loan Trust 2005-1

Mortgage Pass-Through Certificates

2005-1

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 19 of 30
Morgan Stanley Home Equity Loan Trust 2005-1

Mortgage Pass-Through Certificates

2005-1

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

19142587 2			100,800.00		100,800.00			29-Jul-2005		5.750%		CA - 80.00%		Paid Off - 360		01-Jul-2004


19142678 1			264,000.00		259,643.01			25-Jul-2005		5.750%		CA - 79.76%		Paid Off - 360		01-Jul-2004

19143353 2			364,000.00		364,000.00			22-Jul-2005		6.125%		CA - 80.00%		Paid Off - 360		01-Sep-2004

19143361 2			91,000.00		90,626.32			22-Jul-2005		11.000%		CA - 20.00%		Paid Off - 360		01-Sep-2004

19143619 1			128,250.00		127,364.46			05-Jul-2005		8.500%		WI - 92.93%		Paid Off - 360		01-Sep-2004

19143924 1			184,000.00		183,287.03			05-Jul-2005		7.250%		CA - 79.31%		Paid Off - 360		01-Sep-2004

19144831 1			63,900.00		63,361.72			18-Jul-2005		7.500%		MA - 79.97%		Paid Off - 360		01-Sep-2004

19144849 1			15,950.00		15,887.86			18-Jul-2005		11.250%		MA - 19.96%		Paid Off - 180		01-Sep-2004

19145606 2			164,000.00		162,158.55			20-Jul-2005		6.000%		NV - 80.00%		Paid Off - 360		01-Sep-2004

19145614 2			41,000.00		40,737.86			25-Jul-2005		9.625%		NV - 20.00%		Paid Off - 360		01-Sep-2004

19146703 2			175,000.00		173,003.89			28-Jul-2005		6.875%		VA - 71.43%		Paid Off - 360		01-Oct-2004

19147230 1			227,000.00		225,390.81			11-Jul-2005		7.875%		VA - 67.16%		Paid Off - 360		01-Oct-2004

19147248 1			101,600.00		100,785.53			28-Jul-2005		7.250%		MD - 80.00%		Paid Off - 360		01-Oct-2004

19147255 1			25,400.00		25,333.72			28-Jul-2005		12.625%		MD - 20.00%		Paid Off - 180		01-Oct-2004

19147412 2			145,600.00		144,488.49			07-Jul-2005		7.500%		IL - 80.00%		Paid Off - 360		01-Oct-2004

19147958 1			233,600.00		233,000.13			22-Jul-2005		6.875%		CA - 80.00%		Paid Off - 360		01-Oct-2004

19147966 1			58,400.00		57,855.21			22-Jul-2005		10.750%		CA - 20.00%		Paid Off - 360		01-Oct-2004

19148220 2			361,250.00		358,684.24			15-Jul-2005		7.875%		CA - 85.00%		Paid Off - 360		01-Oct-2004

19148535 2			93,750.00		92,858.39			26-Jul-2005		6.875%		CA - 56.14%		Paid Off - 360		01-Sep-2004

19149434 2			99,750.00		98,969.58			18-Jul-2005		7.875%		CA - 75.00%		Paid Off - 360		01-Sep-2004

19149525 2			236,000.00		#######			12-Jul-2005		7.500%		CA - 74.92%		Paid Off - 360		01-Oct-2004

19149723 1			204,000.00		202,442.69			31-Jul-2005		7.500%		CA - 74.45%		Paid Off - 360		01-Oct-2004

19149970 1			110,050.00		109,123.82			12-Jul-2005		7.000%		FL - 79.75%		Paid Off - 360		01-Oct-2004

19149988 1			27,550.00		27,478.15			12-Jul-2005		12.625%		FL - 20.02%		Paid Off - 180		01-Oct-2004

19150192 1			89,000.00		88,368.89			13-Jul-2005		7.875%		FL - 71.20%		Paid Off - 360		01-Oct-2004

19150481 2			212,000.00		210,215.95			28-Jul-2005		7.000%		MD - 80.00%		Paid Off - 360		01-Oct-2004

19150838 2			332,000.00		332,000.00			25-Jul-2005		9.875%		CA - 72.49%		Paid Off - 360		01-Oct-2004

19150861 2			83,000.00		82,770.30			25-Jul-2005		12.375%		CA - 18.12%		Paid Off - 360		01-Oct-2004

19151489 1			351,500.00		348,679.96			31-Jul-2005		7.250%		CA - 84.70%		Paid Off - 360		01-Oct-2004

19152677 1			123,250.00		122,517.16			28-Jul-2005		8.750%		FL - 85.00%		Paid Off - 360		01-Oct-2004

19152750 1			99,000.00		98,335.55			05-Jul-2005		8.375%		IL - 90.00%		Paid Off - 360		01-Oct-2004

19152768 2			365,250.00		362,462.51			15-Jul-2005		7.500%		IL - 79.40%		Paid Off - 360		01-Oct-2004

19152917 2			79,000.00		78,318.88			06-Jul-2005		6.875%		AZ - 79.80%		Paid Off - 360		01-Oct-2004

19153733 2			22,100.00		22,041.57			20-Jul-2005		13.125%		FL - 20.00%		Paid Off - 180		01-Oct-2004

19153907 2			168,000.00		166,266.38			14-Jul-2005		6.375%		FL - 75.00%		Paid Off - 360		01-Oct-2004

19154111 2			271,000.00		268,931.28			07-Jul-2005		7.500%		MD - 79.71%		Paid Off - 360		01-Oct-2004

19154178 1			200,050.00		197,940.93			22-Jul-2005		6.500%		VA - 79.99%		Paid Off - 360		01-Oct-2004



Page 20 of 30
Morgan Stanley Home Equity Loan Trust 2005-1

Mortgage Pass-Through Certificates

2005-1

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

19154392 2			344,000.00		341,373.99			05-Jul-2005		7.500%		RI - 80.00%		Paid Off - 360		01-Oct-2004


19154616 1			73,500.00		73,020.88			31-Jul-2005		8.625%		UT - 70.00%		Paid Off - 360		01-Oct-2004

19154715 1			263,600.00		263,600.00			19-Jul-2005		7.000%		CA - 80.00%		Paid Off - 360		01-Oct-2004

19154889 1			196,000.00		196,000.00			21-Jul-2005		7.125%		CA - 80.00%		Paid Off - 360		01-Oct-2004

19154897 1			49,000.00		48,786.44			21-Jul-2005		10.250%		CA - 20.00%		Paid Off - 360		01-Oct-2004

19155027 2			160,650.00		160,649.92			21-Jul-2005		7.375%		CA - 85.00%		Paid Off - 360		01-Nov-2004

19155225 2			262,000.00		262,000.00			05-Jul-2005		6.375%		CA - 80.00%		Paid Off - 360		01-Jul-2004

19155597 1			15,200.00		15,104.53			20-Jul-2005		12.625%		IN - 20.03%		Paid Off - 180		01-Nov-2004

19155845 1		FCL	217,050.00		215,823.64			31-Jul-2005		9.000%		RI - 84.98%		Paid Off - 360		01-Oct-2004

19156322 1			112,000.00		112,000.00			12-Jul-2005		7.125%		CA - 80.00%		Paid Off - 360		01-Oct-2004

19156330 1			28,000.00		27,906.58			14-Jul-2005		11.500%		CA - 20.00%		Paid Off - 360		01-Oct-2004

19157700 2			150,800.00		150,110.87			27-Jul-2005		9.500%		OK - 80.00%		Paid Off - 360		01-Nov-2004

19157775 2			216,000.00		214,047.58			25-Jul-2005		6.250%		FL - 80.00%		Paid Off - 360		01-Nov-2004

19157783 1			54,000.00		53,752.70			25-Jul-2005		9.490%		FL - 20.00%		Paid Off - 180		01-Nov-2004

19158252 2			248,000.00		248,000.00			26-Jul-2005		7.500%		CA - 80.00%		Paid Off - 360		01-Nov-2004

19158260 1			62,000.00		61,814.71			26-Jul-2005		11.500%		CA - 20.00%		Paid Off - 360		01-Nov-2004

19158732 2			80,000.00		79,802.53			11-Jul-2005		12.375%		CA - 20.00%		Paid Off - 360		01-Nov-2004

19158799 1			183,200.00		182,484.08			08-Jul-2005		10.250%		MN - 80.00%		Paid Off - 360		01-Nov-2004

19159151 1			297,000.00		297,000.00			08-Jul-2005		7.125%		MI - 86.09%		Paid Off - 360		01-Nov-2004

19159508 1			167,000.00		165,964.19			28-Jul-2005		8.000%		CA - 77.67%		Paid Off - 360		01-Nov-2004

19159557 1			318,200.00		315,222.42			25-Jul-2005		5.875%		IL - 74.00%		Paid Off - 360		01-Nov-2004

19159698 1			71,800.00		71,391.22			27-Jul-2005		8.875%		FL - 83.49%		Paid Off - 360		01-Nov-2004

19160167 1			315,000.00		312,562.90			18-Jul-2005		6.875%		VA - 82.68%		Paid Off - 360		01-Nov-2004

19160332 2			138,000.00		136,977.76			12-Jul-2005		7.250%		MA - 55.20%		Paid Off - 360		01-Nov-2004

19161504 1			199,650.00		197,848.33			19-Jul-2005		6.375%		CA - 84.99%		Paid Off - 360		01-Nov-2004

322119652 1			143,880.00		142,256.55			03-Aug-2005		6.450%		CA - 80.00%		Paid Off - 360		01-Aug-2004

322119744 1			160,000.00		160,000.00			18-Jul-2005		5.800%		MN - 80.00%		Paid Off - 360		01-Aug-2004

322120791 2			125,000.00		123,824.49			26-Jul-2005		7.850%		MI - 66.14%		Paid Off - 360		01-Jul-2004

322121112 2			204,000.00		204,000.00			10-Aug-2005		6.650%		TX - 80.00%		Paid Off - 360		01-Aug-2004

322122003 1			155,000.00		153,961.69			20-Jul-2005		8.650%		IL - 61.27%		Paid Off - 360		01-Sep-2004

322242900 2			108,000.00		107,053.94			02-Aug-2005		7.300%		IN - 90.00%		Paid Off - 360		01-Sep-2004

322243775 2			124,110.00		123,043.93			22-Jul-2005		7.400%		IL - 90.00%		Paid Off - 360		01-Sep-2004

322243882 2			228,800.00		225,322.64			27-Jul-2005		6.350%		CA - 80.00%		Paid Off - 360		01-Aug-2004

322244005 2			92,610.00		91,756.57			09-Aug-2005		7.600%		IN - 90.00%		Paid Off - 360		01-Sep-2004

322244088 1			53,520.00		53,040.95			21-Jul-2005		7.750%		OH - 80.00%		Paid Off - 360		01-Sep-2004

322244112 2			127,920.00		126,988.83			01-Aug-2005		8.950%		AZ - 80.00%		Paid Off - 360		01-Sep-2004

322244146 1			41,600.00		41,247.91			12-Aug-2005		8.100%		OH - 80.00%		Paid Off - 360		01-Sep-2004

322244625 2			81,600.00		80,652.81			20-Jul-2005		6.300%		IN - 80.00%		Paid Off - 360		01-Aug-2004



Page 21 of 30
Morgan Stanley Home Equity Loan Trust 2005-1

Mortgage Pass-Through Certificates

2005-1

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

322244633 1			236,245.00		234,274.32			20-Jul-2005		7.550%		CA - 88.81%		Paid Off - 360		01-Sep-2004


322245309 2			50,000.00		48,457.57			29-Jul-2005		6.350%		IL - 25.13%		Paid Off - 360		01-Oct-2004

322245713 2			400,000.00		396,004.46			19-Jul-2005		6.150%		IL - 80.00%		Paid Off - 360		01-Oct-2004

322554155 1			65,600.00		65,600.00			21-Jul-2005		7.300%		WI - 80.00%		Paid Off - 360		01-Sep-2004

322554502 1			155,775.00		154,300.57			22-Jul-2005		6.900%		CA - 77.50%		Paid Off - 360		01-Sep-2004

322554593 2			106,200.00		105,450.87			20-Jul-2005		7.900%		IA - 90.00%		Paid Off - 360		01-Oct-2004

322555087 1			171,200.00		171,200.00			29-Jul-2005		7.000%		CA - 80.00%		Paid Off - 360		01-Oct-2004

322555509 1			188,000.00		188,000.00			02-Aug-2005		8.550%		IL - 80.00%		Paid Off - 360		01-Oct-2004

322556002 1			142,000.00		141,205.79			18-Jul-2005		9.050%		TX - 88.75%		Paid Off - 360		01-Oct-2004

322557083 1			71,200.00		70,876.39			27-Jul-2005		10.050%		TX - 80.00%		Paid Off - 360		01-Oct-2004

322557182 1			106,250.00		105,173.85			27-Jul-2005		8.700%		MI - 85.00%		Paid Off - 360		01-Oct-2004

322557398 2			231,291.00		230,067.47			03-Aug-2005		9.800%		MI - 90.00%		Paid Off - 360		01-Sep-2004

322557695 1			99,200.00		99,200.00			20-Jul-2005		7.650%		ND - 80.00%		Paid Off - 360		01-Oct-2004

322557927 2			135,200.00		134,545.62			01-Aug-2005		9.750%		IL - 80.00%		Paid Off - 360		01-Oct-2004

322558149 2			188,000.00		186,592.83			19-Jul-2005		7.600%		MN - 80.00%		Paid Off - 360		01-Oct-2004

322558198 1			64,000.00		63,486.99			01-Aug-2005		7.250%		OH - 80.00%		Paid Off - 360		01-Oct-2004

322558362 1			202,400.00		200,612.62			11-Aug-2005		6.750%		IL - 80.00%		Paid Off - 360		01-Oct-2004

322558446 2			306,000.00		304,027.32			29-Jul-2005		8.350%		IL - 90.00%		Paid Off - 360		01-Oct-2004

322558727 1			112,000.00		112,000.00			09-Aug-2005		7.100%		OR - 80.00%		Paid Off - 360		01-Oct-2004

322558768 1			97,600.00		97,070.49			12-Aug-2005		9.650%		OK - 80.00%		Paid Off - 360		01-Oct-2004

322559535 2			101,625.00		100,847.30			15-Aug-2005		8.150%		AZ - 86.49%		Paid Off - 360		01-Sep-2004

322559667 1			119,000.00		117,700.92			28-Jul-2005		6.150%		CA - 38.39%		Paid Off - 360		01-Sep-2004

322559758 1			225,000.00		222,687.52			15-Aug-2005		5.950%		CA - 64.29%		Paid Off - 360		01-Oct-2004

322559881 1			43,920.00		43,598.82			21-Jul-2005		7.800%		OH - 80.00%		Paid Off - 360		01-Oct-2004

322559949 2			52,000.00		51,668.08			15-Aug-2005		8.400%		OH - 80.00%		Paid Off - 360		01-Oct-2004

322560467 1			117,600.00		113,850.32			05-Aug-2005		7.850%		KS - 80.00%		Paid Off - 360		01-Oct-2004

322560640 1			195,480.00		194,408.91			09-Aug-2005		9.150%		WA - 80.00%		Paid Off - 360		01-Oct-2004

322560848 1			96,000.00		95,788.00			27-Jul-2005		7.350%		AZ - 80.00%		Paid Off - 360		01-Oct-2004

322562026 1			128,000.00		127,003.49			08-Aug-2005		7.400%		MI - 80.00%		Paid Off - 360		01-Oct-2004

322563016 2			165,000.00		163,329.15			15-Aug-2005		5.450%		CA - 66.00%		Paid Off - 360		01-Nov-2004

322563487 1			232,750.00		230,694.54			12-Aug-2005		6.750%		CA - 95.00%		Paid Off - 360		01-Oct-2004

322563610 1			190,400.00		188,858.78			22-Jul-2005		8.275%		MN - 80.00%		Paid Off - 360		01-Oct-2004

322563917 2			148,750.00		147,721.20			27-Jul-2005		7.450%		MN - 85.00%		Paid Off - 360		01-Nov-2004

322564048 1			151,202.00		151,159.10			01-Aug-2005		6.700%		WA - 80.00%		Paid Off - 360		01-Nov-2004

322564741 2			66,800.00		66,459.15			27-Jul-2005		9.500%		IL - 80.00%		Paid Off - 360		01-Oct-2004

322564857 1			162,000.00		160,522.76			03-Aug-2005		7.200%		MN - 77.51%		Paid Off - 360		01-Oct-2004

322565003 1			68,160.00		68,160.00			22-Jul-2005		7.150%		OH - 80.00%		Paid Off - 360		01-Oct-2004

322565201 1			271,920.00		271,920.00			29-Jul-2005		5.950%		CA - 80.00%		Paid Off - 360		01-Nov-2004



Page 22 of 30
Morgan Stanley Home Equity Loan Trust 2005-1

Mortgage Pass-Through Certificates

2005-1

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

322565623 1			71,700.00		71,141.79			29-Jul-2005		7.400%		AZ - 83.37%		Paid Off - 360		01-Oct-2004


322571613 1			288,000.00		288,000.00			26-Jul-2005		6.750%		CA - 90.00%		Paid Off - 360		01-Oct-2004

322572538 1			120,000.00		118,897.91			26-Jul-2005		5.990%		MA - 80.00%		Paid Off - 360		01-Nov-2004

322572546 1			30,000.00		28,891.54			26-Jul-2005		10.990%		MA - 20.00%		Paid Off - 180		01-Nov-2004

322574005 2			219,200.00		219,200.00			09-Aug-2005		5.850%		MN - 80.00%		Paid Off - 360		01-Nov-2004

322574013 1			54,800.00		54,562.24			09-Aug-2005		9.750%		MN - 20.00%		Paid Off - 180		01-Nov-2004

322574070 1			55,000.00		54,579.37			18-Jul-2005		7.990%		FL - 65.48%		Paid Off - 360		01-Sep-2004

322574138 2			114,400.00		113,408.94			25-Jul-2005		6.850%		FL - 80.00%		Paid Off - 360		01-Oct-2004

322578311 1			130,500.00		129,640.87			10-Aug-2005		7.700%		NV - 90.00%		Paid Off - 360		01-Nov-2004

322578618 1			59,750.00		59,141.23			01-Aug-2005		7.200%		TX - 79.67%		Paid Off - 360		01-Nov-2004

322578758 2			193,600.00		192,220.95			22-Jul-2005		7.300%		OH - 80.00%		Paid Off - 360		01-Nov-2004

322579186 1			168,800.00		168,714.33			19-Jul-2005		6.500%		CO - 80.00%		Paid Off - 360		01-Nov-2004

322579202 1			149,520.00		149,520.00			27-Jul-2005		6.850%		TN - 80.00%		Paid Off - 360		01-Nov-2004

322579996 1			51,200.00		50,932.56			28-Jul-2005		8.850%		MO - 80.00%		Paid Off - 360		01-Nov-2004

322580994 2			365,500.00		362,209.76			05-Aug-2005		6.650%		NY - 85.00%		Paid Off - 360		01-Oct-2004

322581232 1			133,650.00		133,650.00			08-Aug-2005		7.250%		VA - 90.00%		Paid Off - 360		01-Oct-2004

322581273 1			105,000.00		104,036.52			01-Aug-2005		6.550%		PA - 84.00%		Paid Off - 360		01-Oct-2004

322581430 1			176,800.00		175,414.02			03-Aug-2005		7.500%		MD - 85.00%		Paid Off - 360		01-Oct-2004

322581703 1			135,000.00		133,717.72			25-Jul-2005		7.300%		MD - 79.41%		Paid Off - 360		01-Oct-2004

322581778 2			169,000.00		167,526.39			18-Jul-2005		6.250%		MD - 84.50%		Paid Off - 360		15-Oct-2004

322582826 1			76,000.00		75,414.00			15-Aug-2005		7.550%		SC - 80.00%		Paid Off - 360		01-Oct-2004

322583501 1			54,000.00		53,619.19			21-Jul-2005		7.950%		NC - 75.00%		Paid Off - 360		01-Oct-2004

322583691 1			164,000.00		163,999.80			21-Jul-2005		7.175%		CA - 88.65%		Paid Off - 360		01-Oct-2004

322583782 1			219,200.00		219,139.06			19-Jul-2005		5.750%		CA - 80.00%		Paid Off - 360		01-Oct-2004

322584228 2			199,000.00		196,969.93			28-Jul-2005		5.990%		CA - 84.68%		Paid Off - 360		01-Oct-2004

322584236 1			333,700.00		333,700.00			11-Aug-2005		6.800%		CA - 78.52%		Paid Off - 360		01-Oct-2004

322584384 2			284,000.00		282,640.21			09-Aug-2005		5.990%		CA - 81.14%		Paid Off - 360		01-Oct-2004

322584483 2			312,000.00		309,109.55			28-Jul-2005		6.500%		CA - 78.99%		Paid Off - 360		01-Oct-2004

322584566 2			246,000.00		243,870.26			19-Jul-2005		6.990%		CA - 82.00%		Paid Off - 360		01-Oct-2004

322585803 2			130,000.00		130,000.00			09-Aug-2005		6.250%		WI - 80.00%		Paid Off - 360		01-Oct-2004

322585985 1			58,500.00		57,993.20			26-Jul-2005		6.850%		MO - 90.00%		Paid Off - 360		01-Oct-2004

322586223 1			161,600.00		161,600.00			04-Aug-2005		6.390%		MN - 80.00%		Paid Off - 360		01-Oct-2004

322586231 1			40,400.00		40,214.04			04-Aug-2005		9.990%		MN - 20.00%		Paid Off - 180		01-Oct-2004

322586728 2			182,305.00		181,093.84			12-Aug-2005		8.200%		OR - 95.00%		Paid Off - 360		01-Oct-2004

322588492 1			66,600.00		66,311.47			05-Aug-2005		10.750%		NY - 20.00%		Paid Off - 180		01-Sep-2004

322588864 2			173,000.00		171,639.98			19-Jul-2005		7.350%		MD - 72.08%		Paid Off - 360		01-Oct-2004

322589789 1			215,000.00		213,027.23			01-Aug-2005		6.550%		NC - 93.89%		Paid Off - 360		01-Oct-2004

322589847 1			55,000.00		54,171.36			02-Aug-2005		7.450%		TN - 35.95%		Paid Off - 360		01-Oct-2004



Page 23 of 30
Morgan Stanley Home Equity Loan Trust 2005-1

Mortgage Pass-Through Certificates

2005-1

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

322590217 1			183,000.00		181,069.76			01-Aug-2005		6.500%		CA - 79.74%		Paid Off - 360		01-Sep-2004


322590738 2			369,600.00		365,999.46			11-Aug-2005		6.750%		MA - 80.00%		Paid Off - 360		01-Sep-2004

322590746 2			92,400.00		91,318.21			11-Aug-2005		11.990%		MA - 20.00%		Paid Off - 240		01-Sep-2004

322591017 1			252,300.00		250,135.33			15-Aug-2005		6.900%		CT - 79.99%		Paid Off - 360		01-Oct-2004

322591090 1			235,000.00		232,293.46			09-Aug-2005		5.850%		MA - 63.51%		Paid Off - 360		01-Sep-2004

322591892 1			305,000.00		302,602.31			25-Jul-2005		7.350%		VA - 89.97%		Paid Off - 360		01-Oct-2004

322592791 1			95,000.00		94,359.31			02-Aug-2005		8.125%		FL - 84.00%		Paid Off - 360		01-Oct-2004

322592957 1			118,980.00		118,026.24			28-Jul-2005		7.250%		FL - 90.00%		Paid Off - 360		01-Oct-2004

322594656 2			217,600.00		217,600.00			28-Jul-2005		6.250%		AZ - 80.00%		Paid Off - 360		01-Sep-2004

322595224 1			119,600.00		118,906.29			25-Jul-2005		9.750%		NM - 80.00%		Paid Off - 360		01-Sep-2004

322596479 2			133,450.00		130,423.37			14-Jul-2005		9.375%		KS - 85.00%		Paid Off - 360		01-Sep-2004

322596545 2			108,000.00		106,119.66			29-Jul-2005		6.625%		AZ - 80.00%		Paid Off - 360		01-Sep-2004

322596552 1			27,000.00		26,622.07			29-Jul-2005		9.990%		AZ - 20.00%		Paid Off - 180		01-Sep-2004

322858002 1			66,000.00		65,391.62			21-Jul-2005		7.500%		AZ - 79.52%		Paid Off - 360		01-Aug-2004

322858168 2			228,000.00		226,784.95			29-Jul-2005		8.990%		NJ - 80.00%		Paid Off - 360		01-Dec-2004

322858531 1			315,000.00		313,523.43			09-Aug-2005		5.625%		CA - 90.00%		Paid Off - 360		01-Nov-2004

322860487 2			231,200.00		230,998.87			01-Aug-2005		6.749%		AZ - 80.00%		Paid Off - 360		01-Dec-2004

322861659 1			147,920.00		146,976.96			10-Aug-2005		7.249%		GA - 80.00%		Paid Off - 360		01-Dec-2004

322861733 1			220,000.00		220,000.00			01-Aug-2005		6.500%		CA - 80.00%		Paid Off - 360		01-Dec-2004

322862061 1			84,000.00		83,623.11			20-Jul-2005		8.999%		OH - 100.00%		Paid Off - 360		01-Dec-2004

322862392 1			42,090.00		41,972.55			29-Jul-2005		11.250%		AZ - 20.00%		Paid Off - 180		01-Dec-2004

322862657 1			168,350.00		168,350.00			29-Jul-2005		6.875%		AZ - 80.00%		Paid Off - 360		01-Dec-2004



TOTAL			26,963,673.00		26,794,266.24



Page 24 of 30
Morgan Stanley Home Equity Loan Trust 2005-1

Mortgage Pass-Through Certificates

2005-1

August 25, 2005 Distribution
Realized Loss Report

COLLATERAL REALIZED LOSSES



											Group 2		Group 1		Total


Current




Number of Loans Liquidated										2		1		3
Collateral Principal Realized Loss/(Gain) Amount										49,520.36		60,237.40		109,757.76
Collateral Interest Realized Loss/(Gain) Amount										172.76		1,863.98		2,036.74
Net Liquidation Proceeds										65,365.71		(100.00)		65,265.71

Cumulative




Number of Loans Liquidated										2		3		5
Collateral Realized Loss/(Gain) Amount										49,520.36		93,350.77		142,871.13
Net Liquidation Proceeds										65,365.71		89,685.18		155,050.89










Page 25 of 30
Morgan Stanley Home Equity Loan Trust 2005-1

Mortgage Pass-Through Certificates

2005-1

August 25, 2005 Distribution


DEFAULT SPEEDS



											Group 2		Group 1		Total



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


CDR										0.35%		0.18%		0.27%
3 Months Avg CDR										0.12%		0.18%		0.15%
12 Months Avg CDR										0.05%		0.08%		0.06%
Avg CDR Since Cut-off										0.05%		0.08%		0.06%


SDA										1.59%		0.83%		1.21%
3 Months Avg SDA Approximation										0.58%		0.90%		0.74%
12 Months Avg SDA Approximation										0.31%		0.48%		0.40%
Avg SDA Since Cut-off Approximation										0.31%		0.48%		0.40%


Loss Severity Approximation for Current Period										43.10%		100.17%		62.71%
3 Months Avg Loss Severity Approximation										14.37%		66.72%		54.24%
12 Months Avg Loss Severity Approximation										6.16%		28.60%		23.24%
Avg Loss Severity Approximation Since Cut-off										6.16%		28.60%		23.24%












Page 26 of 30
Morgan Stanley Home Equity Loan Trust 2005-1

Mortgage Pass-Through Certificates

2005-1

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.




Page 27 of 30
Morgan Stanley Home Equity Loan Trust 2005-1

Mortgage Pass-Through Certificates

2005-1

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)

19158526 1
			12.625%		UT - 20.00%		180		60,137.40				62,001.38		0.00

19150853 1					WA - 20.00%		360				Revision		100.00
322596438 2			6.499%		UT - 80.00%		360		91,851.58				26,478.12		0.00
322596446 2			9.500%		UT - 20.00%		240		23,034.49				23,207.25		0.00
19145556 2					CA - 60.00%		360				Revision		7.75


TOTAL									175,023.47			111,794.50		0.00



Page 28 of 30
Morgan Stanley Home Equity Loan Trust 2005-1

Mortgage Pass-Through Certificates

2005-1

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
						Three Month Rolling Average 60+ days Delinquent								17,046,746.69
						Ending Balance								763,328,721.50
						Prior Period Senior Enhancement Percentage								21.2899%



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														0.00
Excess Reserve Fund Account Balance														0.00




Page 29 of 30
Morgan Stanley Home Equity Loan Trust 2005-1

Mortgage Pass-Through Certificates

2005-1

August 25, 2005 Distribution
Other Related Information
ADDITIONAL INFORMATION

										Group 2		Group 1		Total
Current Scheduled Payments										2,616,334.82		2,654,445.61		5,270,780.42
Current Scheduled Payments 1 Month Prior										2,717,857.52		2,745,838.67		5,463,696.19
Current Scheduled Payments 2 Month Prior										2,797,537.02		2,813,388.59		5,610,925.60
Current Scheduled Payments 3 Month Prior										2,865,723.19		2,877,306.88		5,743,030.07
Current Scheduled Payments 4 Month Prior										2,956,160.53		2,940,412.33		5,896,572.87
Current Scheduled Payments 5 Month Prior										3,006,355.10		2,981,915.28		5,988,270.38
Current Scheduled Payments 6 Month Prior										3,056,508.59		3,009,910.77		6,066,419.36
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										95,801.12		81,534.77		177,335.89
Sched. Pmts - 60+Day Delinquent Loans, 1 Month Prior										76,852.50		67,296.69		144,149.20
Sched. Pmts - 60+Day Delinquent Loans, 2 Month Prior										68,693.70		57,029.49		125,723.19
Sched. Pmts - 60+Day Delinquent Loans, 3 Month Prior										61,871.21		43,155.77		105,026.98
Sched. Pmts - 60+Day Delinquent Loans, 4 Month Prior										37,065.80		23,723.46		60,789.26
Sched. Pmts - 60+Day Delinquent Loans, 5 Month Prior										19,115.08		19,088.24		38,203.32
Sched. Pmts - 60+Day Delinquent Loans, 6 Month Prior										3,729.06		1,769.77		5,498.83
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 30 of 30

Morgan Stanley Home Equity Loan Trust 2005-1 8-K