

                                    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): October 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
     October 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:  Oct 28, 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 October 25, 2005.



Morgan Stanley ABS Capital I Inc. 2005-NC1

Mortgage Pass-Through Certificates

2005-NC1

October 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					27
										11. Realized Loss Detail Report					30
				Servicer(s)
										12. Triggers and Adj. Cert. Report					31
				HomeQ Servicing Corp.
										13. Other Related Information					32
				New Century Mortgage Corporation

				Chase Home Finance LLC


				Underwriter(s)
				Morgan Stanley


										Total Number of Pages					32


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

							October 24, 2005


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






Page 1 of 32
Morgan Stanley ABS Capital I Inc. 2005-NC1

Mortgage Pass-Through Certificates

2005-NC1

October 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		298,125,931.47		1,027,871.96		20,587,869.41		21,615,741.37		0.00		0.00		277,538,062.06

A-1MZ	FLT/STEP/WA	$	58,255,000.00		40,653,662.98		134,924.99		2,807,445.50		2,942,370.49		0.00		0.00		37,846,217.48
A-2A	FLT/STEP/WA	$	366,000,000.00		194,633,841.86		617,746.19		28,364,611.67		28,982,357.86		0.00		0.00		166,269,230.19
A-2B	FLT/STEP/WA	$	170,000,000.00		170,000,000.00		553,255.56		0.00		553,255.56		0.00		0.00		170,000,000.00
A-2C	FLT/STEP/WA	$	117,449,000.00		117,449,000.00		398,315.23		0.00		398,315.23		0.00		0.00		117,449,000.00
A-2MZ	FLT/STEP/WA	$	89,107,000.00		65,738,804.08		218,179.79		3,867,915.40		4,086,095.19		0.00		0.00		61,870,888.68
M-1	FLT/STEP/WA	$	46,596,000.00		46,596,000.00		160,277.30		0.00		160,277.30		0.00		0.00		46,596,000.00
M-2	FLT/STEP/WA	$	30,813,000.00		30,813,000.00		106,732.81		0.00		106,732.81		0.00		0.00		30,813,000.00
M-3	FLT/STEP/WA	$	21,794,000.00		21,794,000.00		76,194.25		0.00		76,194.25		0.00		0.00		21,794,000.00
M-4	FLT/STEP/WA	$	34,571,000.00		34,571,000.00		125,598.36		0.00		125,598.36		0.00		0.00		34,571,000.00
M-5	FLT/STEP/WA	$	22,546,000.00		22,546,000.00		82,818.97		0.00		82,818.97		0.00		0.00		22,546,000.00
M-6	FLT/STEP/WA	$	15,783,000.00		15,783,000.00		58,484.78		0.00		58,484.78		0.00		0.00		15,783,000.00
B-1	FLT/STEP/WA	$	23,297,000.00		23,297,000.00		95,336.50		0.00		95,336.50		0.00		0.00		23,297,000.00
B-2	FLT/STEP/WA	$	12,777,000.00		12,777,000.00		52,800.95		0.00		52,800.95		0.00		0.00		12,777,000.00
B-3	FLT/STEP/WA	$	19,540,000.00		19,540,000.00		91,767.44		0.00		91,767.44		0.00		0.00		19,540,000.00
X	EXE	$	47,346,958.00		47,346,924.53		2,602,241.90		0.00		2,602,241.90		0.00		0.00		47,346,924.53
P	EXE	$	0.00		0.00		1,014,820.84		0.00		1,014,820.84		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		1,161,665,164.92		7,417,367.82		55,627,841.98		63,045,209.80		0.00		0.00		1,106,037,322.94





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	09/26/05		10/24/05		A-Act/360		61744CMD5		427,202,000.00		697.857059		2.406056		48.192353		50.598409	649.664707
A-1MZ	09/26/05		10/24/05		A-Act/360		61744CME3		58,255,000.00		697.857059		2.316110		48.192353		50.508463	649.664707
A-2A	09/26/05		10/24/05		A-Act/360		61744CMF0		366,000,000.00		531.786453		1.687831		77.498939		79.186770	454.287514
A-2B	09/26/05		10/24/05		A-Act/360		61744CMG8		170,000,000.00		1,000.000000		3.254444		0.000000		3.254444	1,000.000000
A-2C	09/26/05		10/24/05		A-Act/360		61744CMH6		117,449,000.00		1,000.000000		3.391389		0.000000		3.391389	1,000.000000
A-2MZ	09/26/05		10/24/05		A-Act/360		61744CMJ2		89,107,000.00		737.751289		2.448515		43.407537		45.856052	694.343752
M-1	09/26/05		10/24/05		A-Act/360		61744CMK9		46,596,000.00		1,000.000000		3.439722		0.000000		3.439722	1,000.000000
M-2	09/26/05		10/24/05		A-Act/360		61744CML7		30,813,000.00		1,000.000000		3.463889		0.000000		3.463889	1,000.000000
M-3	09/26/05		10/24/05		A-Act/360		61744CMM5		21,794,000.00		1,000.000000		3.496111		0.000000		3.496111	1,000.000000
M-4	09/26/05		10/24/05		A-Act/360		61744CMN3		34,571,000.00		1,000.000000		3.633055		0.000000		3.633055	1,000.000000
M-5	09/26/05		10/24/05		A-Act/360		61744CMP8		22,546,000.00		1,000.000000		3.673333		0.000000		3.673333	1,000.000000
M-6	09/26/05		10/24/05		A-Act/360		61744CMQ6		15,783,000.00		1,000.000000		3.705555		0.000000		3.705555	1,000.000000
B-1	09/26/05		10/24/05		A-Act/360		61744CMR4		23,297,000.00		1,000.000000		4.092222		0.000000		4.092222	1,000.000000
B-2	09/26/05		10/24/05		A-Act/360		61744CMS2		12,777,000.00		1,000.000000		4.132500		0.000000		4.132500	1,000.000000
B-3	09/26/05		10/24/05		A-Act/360		61744CMT0		19,540,000.00		1,000.000000		4.696389		0.000000		4.696389	1,000.000000
X	09/26/05		10/24/05		A-Act/360		MS05C1101		47,346,958.00		999.999293		54.961121		0.000000		54.961121	999.999293
P	09/25/05		10/24/05		MS05C1102		0.00		0.000000		0.000000		0.000000		0.000000		0.000000
R	09/25/05		10/24/05		MS05C1103		0.00		0.000000		0.000000		0.000000		0.000000		0.000000



Page 2 of 32
Morgan Stanley ABS Capital I Inc. 2005-NC1

Mortgage Pass-Through Certificates

2005-NC1

October 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		9,075,477.89		146,519,116.54		3,144,821.40		149,663,937.94		158,739,415.83		0.00		0.00		277,538,062.06
A-1MZ	58,255,000.00		1,183,197.59		19,979,941.89		428,840.62		20,408,782.52		21,591,980.11		0.00		0.00		37,846,217.48
A-2A	366,000,000.00		6,331,162.80		195,400,937.66		4,329,832.15		199,730,769.81		206,061,932.61		0.00		0.00		166,269,230.19
A-2B	170,000,000.00		3,936,409.70		0.00		0.00		0.00		3,936,409.70		0.00		0.00		170,000,000.00
A-2C	117,449,000.00		2,853,790.93		0.00		0.00		0.00		2,853,790.93		0.00		0.00		117,449,000.00
A-2MZ	89,107,000.00		1,839,549.32		26,645,677.55		590,433.77		27,236,111.32		29,075,660.64		0.00		0.00		61,870,888.68
M-1	46,596,000.00		1,150,989.34		0.00		0.00		0.00		1,150,989.34		0.00		0.00		46,596,000.00
M-2	30,813,000.00		767,340.12		0.00		0.00		0.00		767,340.12		0.00		0.00		30,813,000.00
M-3	21,794,000.00		548,598.96		0.00		0.00		0.00		548,598.96		0.00		0.00		21,794,000.00
M-4	34,571,000.00		909,728.80		0.00		0.00		0.00		909,728.80		0.00		0.00		34,571,000.00
M-5	22,546,000.00		600,871.35		0.00		0.00		0.00		600,871.35		0.00		0.00		22,546,000.00
M-6	15,783,000.00		424,875.15		0.00		0.00		0.00		424,875.15		0.00		0.00		15,783,000.00
B-1	23,297,000.00		702,322.13		0.00		0.00		0.00		702,322.13		0.00		0.00		23,297,000.00
B-2	12,777,000.00		389,475.83		0.00		0.00		0.00		389,475.83		0.00		0.00		12,777,000.00
B-3	19,540,000.00		687,576.04		0.00		0.00		0.00		687,576.04		0.00		0.00		19,540,000.00
X	47,346,958.00		28,626,904.13		31.90		1.57		33.47		28,626,937.61		0.00		0.00		47,346,924.53
P	0.00		6,249,572.96		0.00		0.00		0.00		6,249,572.96		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		66,277,843.04		388,545,705.54		8,493,929.51		397,039,635.06		463,317,478.11		0.00		0.00		1,106,037,322.94


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	4.28000%		298,125,931.47		1,027,871.96		0.00		0.00		0.00		1,027,871.96		1,027,871.96		0.00
A-1MZ	4.12000%		40,653,662.98		134,924.99		0.00		0.00		0.00		134,924.99		134,924.99		0.00
A-2A	3.94000%		194,633,841.86		617,746.19		0.00		0.00		0.00		617,746.19		617,746.19		0.00
A-2B	4.04000%		170,000,000.00		553,255.56		0.00		0.00		0.00		553,255.56		553,255.56		0.00
A-2C	4.21000%		117,449,000.00		398,315.23		0.00		0.00		0.00		398,315.23		398,315.23		0.00
A-2MZ	4.12000%		65,738,804.08		218,179.79		0.00		0.00		0.00		218,179.79		218,179.79		0.00
M-1	4.27000%		46,596,000.00		160,277.30		0.00		0.00		0.00		160,277.30		160,277.30		0.00
M-2	4.30000%		30,813,000.00		106,732.81		0.00		0.00		0.00		106,732.81		106,732.81		0.00
M-3	4.34000%		21,794,000.00		76,194.25		0.00		0.00		0.00		76,194.25		76,194.25		0.00
M-4	4.51000%		34,571,000.00		125,598.36		0.00		0.00		0.00		125,598.36		125,598.36		0.00
M-5	4.56000%		22,546,000.00		82,818.97		0.00		0.00		0.00		82,818.97		82,818.97		0.00
M-6	4.60000%		15,783,000.00		58,484.78		0.00		0.00		0.00		58,484.78		58,484.78		0.00
B-1	5.08000%		23,297,000.00		95,336.50		0.00		0.00		0.00		95,336.50		95,336.50		0.00
B-2	5.13000%		12,777,000.00		52,800.95		0.00		0.00		0.00		52,800.95		52,800.95		0.00
B-3	5.83000%		19,540,000.00		91,767.44		0.00		0.00		0.00		91,767.44		91,767.44		0.00
X	68.22765%		47,346,924.53		2,515,500.50		0.00		0.00		0.00		2,515,500.50		2,602,241.90		0.00
P	0.00000%		0.00		0.00		0.00		0.00		0.00		0.00		1,014,820.84		0.00
R	0.00000%		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00

Total			1,161,665,164.92		6,315,805.58		0.00		0.00		0.00		6,315,805.58		7,417,367.82		0.00



Page 3 of 32
Morgan Stanley ABS Capital I Inc. 2005-NC1

Mortgage Pass-Through Certificates

2005-NC1

October 25, 2005 Distribution
Collection Account Report
SUMMARY

										Group 2		Group 1		Total
Principal Collections										32,215,001.61		23,382,594.41		55,597,596.02
Principal Withrawals										0.00		0.00		0.00
Principal Other Accounts										0.00		0.00		0.00
TOTAL NET PRINCIPAL										32,215,001.61		23,382,594.41		55,597,596.02
Interest Collections										3,974,492.06		2,532,737.61		6,507,229.67
Interest Withdrawals										-0.00		-0.00		-0.00
Interest Other Accounts										0.00		0.00		1,014,820.84
Interest Fees										-41,409.92		-33,026.81		-74,436.73
TOTAL NET INTEREST										3,933,082.14		2,499,710.80		7,447,613.78
TOTAL AVAILABLE FUNDS FOR DISTRIBUTION										36,148,083.75		25,882,305.21		63,045,209.80



PRINCIPAL - COLLECTIONS

											Group 2		Group 1		Total
Scheduled Principal Received											566,088.74		380,437.94		946,526.68
Prepayments In Full											31,587,868.41		22,972,710.45		54,560,578.86
Curtailments											20,348.72		29,446.02		49,794.74
Liquidations											70,941.70		0.00		70,941.70
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											-30,245.96		-0.00		-30,245.96
Delinquent Principal											-509,894.87		-330,845.15		-840,740.02
Advanced Principal											509,894.87		330,845.15		840,740.02
TOTAL PRINCIPAL COLLECTED											32,215,001.61		23,382,594.41		55,597,596.02


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 32
Morgan Stanley ABS Capital I Inc. 2005-NC1

Mortgage Pass-Through Certificates

2005-NC1

October 25, 2005 Distribution

INTEREST - COLLECTIONS

										Group 2		Group 1		Total
Scheduled Interest										4,232,026.85		2,687,295.39		6,919,322.24
Liquidation Interest										402.00		0.00		402.00
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										-24,287.90		-17,459.24		-41,747.14
Compensating Interest										24,287.90		17,459.24		41,747.13
Delinquent Interest										-3,680,038.75		-2,238,940.67		-5,918,979.42
Interest Advanced										3,422,101.95		2,084,382.88		5,506,484.83
TOTAL INTEREST COLLECTED										3,974,492.06		2,532,737.61		6,507,229.67


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														1,014,820.84
TOTAL INTEREST OTHER ACCOUNTS										0.00		0.00		1,014,820.84



INTEREST - FEES

										Group 2		Group 1		Total
Current Servicing Fees										39,624.55		31,908.02		71,532.57
Current Trustee Fees										1,785.37		1,118.79		2,904.16
TOTAL INTEREST OTHER FEES										41,409.92		33,026.81		74,436.73




Page 5 of 32
Morgan Stanley ABS Capital I Inc. 2005-NC1

Mortgage Pass-Through Certificates

2005-NC1

October 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														30,245.96
Overcollateralization Release Amount														0.00




Page 6 of 32
Morgan Stanley ABS Capital I Inc. 2005-NC1

Mortgage Pass-Through Certificates

2005-NC1

October 25, 2005 Distribution
Collateral Report


COLLATERAL



											Group 2		Group 1		Total



Loan Count:


Original										4,605		3,475		8,080
Prior										3,808		2,768		6,576
Prefunding										0		0		0
Scheduled Paid Offs										-0		-0		-0
Full Voluntary Prepayments										-148		-116		-264
Repurchases										-0		-0		-0
Liquidations										-1		-0		-1
Current										3,659		2,652		6,311
Principal Balance:


Original										908,881,228.02		594,195,102.67		1,503,076,330.69
Prior										714,147,243.25		447,517,921.32		1,161,665,164.57
Prefunding										0.00		0.00		0.00
Scheduled Principal										-566,088.74		-380,437.94		-946,526.68
Partial Prepayments										-20,348.72		-29,446.02		-49,794.74
Full Voluntary Prepayments										-31,587,868.41		-22,972,710.45		-54,560,578.86
Repurchases										-0.00		-0.00		-0.00
Liquidations										-70,941.70		-0.00		-70,941.70
Current										681,901,995.68		424,135,326.91		1,106,037,322.59





PREFUNDING

SPACE INTENTIONALLY LEFT BLANK






Page 7 of 32
Morgan Stanley ABS Capital I Inc. 2005-NC1

Mortgage Pass-Through Certificates

2005-NC1

October 25, 2005 Distribution

CHARACTERISTICS

										Group 2		Group 1		Total
Weighted Average Coupon Original										7.14706%		7.26679%		7.19439%
Weighted Average Coupon Prior										7.11964%		7.21437%		7.15653%
Weighted Average Coupon Current										7.11186%		7.20586%		7.14807%
Weighted Average Months to Maturity Original										350		348		349
Weighted Average Months to Maturity Prior										343		340		342
Weighted Average Months to Maturity Current										342		339		341
Weighted Avg Remaining Amortization Term Original										350		348		349
Weighted Avg Remaining Amortization Term Prior										343		340		342
Weighted Avg Remaining Amortization Term Current										342		339		341
Weighted Average Seasoning Original										4.12		4.16		4.14
Weighted Average Seasoning Prior										10.11		10.15		10.12
Weighted Average Seasoning Current										11.11		11.14		11.12









Page 8 of 32
Morgan Stanley ABS Capital I Inc. 2005-NC1

Mortgage Pass-Through Certificates

2005-NC1

October 25, 2005 Distribution

ARM CHARACTERISTICS

										Group 2		Group 1		Total
Weighted Average Margin Original										5.50782%		5.57735%		5.53501%
Weighted Average Margin Prior										5.50788%		5.56237%		5.52880%
Weighted Average Margin Current										5.50775%		5.55882%		5.52713%
Weighted Average Max Rate Original										14.21385%		14.41241%		14.29151%
Weighted Average Max Rate Prior										14.18503%		14.36143%		14.25273%
Weighted Average Max Rate Current										14.18026%		14.35802%		14.24770%
Weighted Average Min Rate Original										7.22109%		7.41792%		7.29807%
Weighted Average Min Rate Prior										7.19037%		7.36691%		7.25813%
Weighted Average Min Rate Current										7.18418%		7.36219%		7.25172%
Weighted Average Cap Up Original										1.51524%		1.50331%		1.51057%
Weighted Average Cap Up Prior										1.50975%		1.50409%		1.50758%
Weighted Average Cap Up Current										1.50828%		1.50531%		1.50715%
Weighted Average Cap Down Original										1.51524%		1.50331%		1.51057%
Weighted Average Cap Down Prior										1.50975%		1.50409%		1.50758%
Weighted Average Cap Down Current										1.50828%		1.50531%		1.50715%




SERVICING FEES & ADVANCES

											Group 2		Group 1		Total




Current Servicing Fees										39,624.55		31,908.02		71,532.57
Delinquent Servicing Fees										257,936.79		154,557.79		412,494.58
TOTAL SERVICING FEES										297,561.36		186,465.81		484,027.17


Compensating Interest										-24,287.90		-17,459.24		-41,747.13
Delinquent Servicing Fees										-257,936.79		-154,557.79		-412,494.58
COLLECTED SERVICING FEES										123,937.88		14,448.79		29,785.45


Aggregate Advances with respect to this Distribution										2,763,912.53		1,671,707.53		4,435,620.06





ADDITIONAL COLLATERAL INFORMATION
										Group 2		Group 1		Total
Net Prepayment Interest Shortfall										0.00		0.00		0.00
Libor For Current Period														3.83000000%




Page 9 of 32
Morgan Stanley ABS Capital I Inc. 2005-NC1

Mortgage Pass-Through Certificates

2005-NC1

October 25, 2005 Distribution
Delinquency Report

	TOTAL
					< 1 PAYMENT		1 PAYMENT		2 PAYMENTS		3+ PAYMENTS		TOTAL
	DELINQUENT		Balance				22,296,074.59		5,279,568.10		2,588,479.74		30,164,122.43
			% Balance				2.02%		0.48%		0.23%		2.73%
			# Loans				140		26		20		186
			% # Loans				2.22%		0.41%		0.32%		2.95%
	FORECLOSURE		Balance		962,142.33		0.00		6,139,051.62		18,056,874.12		25,158,068.07
			% Balance		0.09%		0.00%		0.56%		1.63%		2.27%
			# Loans		3		0		35		102		140
			% # Loans		0.05%		0.00%		0.55%		1.62%		2.22%
	BANKRUPTCY		Balance		6,367,061.30		292,301.52		1,236,985.71		2,362,651.52		10,259,000.05
			% Balance		0.58%		0.03%		0.11%		0.21%		0.93%
			# Loans		37		3		7		19		66
			% # Loans		0.59%		0.05%		0.11%		0.30%		1.05%
	REO		Balance		0.00		0.00		0.00		2,262,303.03		2,262,303.03
			% Balance		0.00%		0.00%		0.00%		0.20%		0.20%
			# Loans		0		0		0		13		13
			% # Loans		0.00%		0.00%		0.00%		0.21%		0.21%
	TOTAL		Balance		7,329,203.63		22,588,376.11		12,655,605.43		25,270,308.41		67,843,493.58
			% Balance		0.66%		2.04%		1.14%		2.28%		6.13%
			# Loans		40		143		68		154		405
			% # Loans		0.63%		2.27%		1.08%		2.44%		6.42%









Page 10 of 32
Morgan Stanley ABS Capital I Inc. 2005-NC1

Mortgage Pass-Through Certificates

2005-NC1

October 25, 2005 Distribution


	GROUP 1
					< 1 PAYMENT		1 PAYMENT		2 PAYMENTS		3+ PAYMENTS		TOTAL
	DELINQUENT		Balance				7,083,279.86		849,852.97		1,273,301.45		9,206,434.28
			% Balance				1.67%		0.20%		0.30%		2.17%
			# Loans				50		6		11		67
			% # Loans				1.89%		0.23%		0.41%		2.53%
	FORECLOSURE		Balance		324,332.14		0.00		1,452,946.50		5,667,793.34		7,445,071.98
			% Balance		0.08%		0.00%		0.34%		1.34%		1.76%
			# Loans		1		0		10		36		47
			% # Loans		0.04%		0.00%		0.38%		1.36%		1.77%
	BANKRUPTCY		Balance		2,197,683.90		126,609.46		204,279.60		898,333.75		3,426,906.71
			% Balance		0.52%		0.03%		0.05%		0.21%		0.81%
			# Loans		16		1		1		7		25
			% # Loans		0.60%		0.04%		0.04%		0.26%		0.94%
	REO		Balance		0.00		0.00		0.00		227,169.19		227,169.19
			% Balance		0.00%		0.00%		0.00%		0.05%		0.05%
			# Loans		0		0		0		3		3
			% # Loans		0.00%		0.00%		0.00%		0.11%		0.11%
	TOTAL		Balance		2,522,016.04		7,209,889.32		2,507,079.07		8,066,597.73		20,305,582.16
			% Balance		0.59%		1.70%		0.59%		1.90%		4.79%
			# Loans		17		51		17		57		142
			% # Loans		0.64%		1.92%		0.64%		2.15%		5.35%










Page 11 of 32
Morgan Stanley ABS Capital I Inc. 2005-NC1

Mortgage Pass-Through Certificates

2005-NC1

October 25, 2005 Distribution

	GROUP 2
					< 1 PAYMENT		1 PAYMENT		2 PAYMENTS		3+ PAYMENTS		TOTAL
	DELINQUENT		Balance				15,212,794.73		4,429,715.13		1,315,178.29		20,957,688.15
			% Balance				2.23%		0.65%		0.19%		3.07%
			# Loans				90		20		9		119
			% # Loans				2.46%		0.55%		0.25%		3.25%
	FORECLOSURE		Balance		637,810.19		0.00		4,686,105.12		12,389,080.78		17,712,996.09
			% Balance		0.09%		0.00%		0.69%		1.82%		2.60%
			# Loans		2		0		25		66		93
			% # Loans		0.05%		0.00%		0.68%		1.80%		2.54%
	BANKRUPTCY		Balance		4,169,377.40		165,692.06		1,032,706.11		1,464,317.77		6,832,093.34
			% Balance		0.61%		0.02%		0.15%		0.21%		1.00%
			# Loans		21		2		6		12		41
			% # Loans		0.57%		0.05%		0.16%		0.33%		1.12%
	REO		Balance		0.00		0.00		0.00		2,035,133.84		2,035,133.84
			% Balance		0.00%		0.00%		0.00%		0.30%		0.30%
			# Loans		0		0		0		10		10
			% # Loans		0.00%		0.00%		0.00%		0.27%		0.27%
	TOTAL		Balance		4,807,187.59		15,378,486.79		10,148,526.36		17,203,710.68		47,537,911.42
			% Balance		0.70%		2.26%		1.49%		2.52%		6.97%
			# Loans		23		92		51		97		263
			% # Loans		0.63%		2.51%		1.39%		2.65%		7.19%









Page 12 of 32
Morgan Stanley ABS Capital I Inc. 2005-NC1

Mortgage Pass-Through Certificates

2005-NC1

October 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
1833854 1
			65,600.00		65,140.01		01-Feb-2005		8.425%		NC - 80.00%		360		01-Dec-2004

1900207 1			97,720.00		96,730.88		01-Feb-2005		6.550%		MN - 80.00%		360		01-Dec-2004
1900375 1			65,700.00		65,298.30		01-Feb-2005		9.100%		MI - 90.00%		360		01-Dec-2004
1597580 2			247,000.00		244,664.13		01-Mar-2005		8.550%		GA - 95.00%		360		01-Aug-2004
1789987 2			512,000.00		507,237.18		01-Mar-2005		6.990%		MI - 80.00%		360		01-Dec-2004
1819190 2			135,440.00		133,926.06		01-Feb-2005		6.500%		TX - 80.00%		360		01-Nov-2004
1833696 2			105,000.00		104,461.55		01-Jan-2005		9.950%		MO - 75.00%		360		01-Dec-2004
1839168 2			166,500.00		165,326.96		01-Dec-2004		8.400%		MI - 90.00%		360		01-Dec-2004
1862689 2			238,000.00		236,053.34		01-Jan-2005		7.650%		MI - 85.00%		360		01-Dec-2004
1875545 2			164,000.00		162,618.43		01-Feb-2005		7.500%		MN - 80.00%		360		01-Dec-2004
1886068 2			52,000.00		51,697.98		01-Jan-2005		9.350%		FL - 80.00%		360		01-Dec-2004
1929723 2			221,000.00		219,138.33		01-Mar-2005		7.500%		MI - 85.00%		360		01-Dec-2004
1934394 2			211,500.00		210,009.88		01-Mar-2005		8.400%		TX - 90.00%		360		01-Dec-2004


TOTAL			2,281,460.00		2,262,303.03


Page 13 of 32
Morgan Stanley ABS Capital I Inc. 2005-NC1

Mortgage Pass-Through Certificates

2005-NC1

October 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		156,925.32		01-Feb-2005		8.575%		WA - 83.16%		360		01-Dec-2004

1707529 1			74,000.00		73,027.58		01-Jun-2005		6.900%		SD - 78.72%		360		01-Dec-2004
1769485 1			135,200.00		134,339.06		01-Apr-2005		8.900%		NJ - 80.00%		360		01-Dec-2004
1773944 1			111,094.00		110,229.42		01-Mar-2005		8.500%		MI - 87.34%		360		01-Nov-2004
1809383 1			318,750.00		316,447.23		01-May-2005		8.275%		NY - 85.00%		360		01-Dec-2004
1821017 1			76,000.00		75,345.36		01-Feb-2005		7.850%		IL - 60.80%		360		01-Nov-2004
1823297 1			174,000.00		172,723.57		01-Jun-2005		8.500%		NH - 75.00%		360		01-Dec-2004
1835247 1			323,000.00		321,308.92		01-Feb-2005		9.850%		NY - 85.00%		360		01-Dec-2004
1835253 1			254,150.00		252,304.69		01-Jan-2005		8.250%		OR - 85.00%		360		01-Dec-2004
1847221 1			79,600.00		79,093.04		01-May-2005		8.900%		MI - 80.00%		360		01-Dec-2004
1860471 1			122,550.00		121,745.40		01-Feb-2005		8.750%		NY - 95.00%		360		01-Dec-2004
1864801 1			73,875.00		73,175.67		01-Jan-2005		6.900%		OR - 75.00%		360		01-Dec-2004
1870704 1			64,000.00		63,654.19		01-Jan-2005		9.700%		ME - 59.26%		360		01-Dec-2004
1872424 1			88,000.00		87,341.62		01-May-2005		8.100%		TX - 80.00%		360		01-Dec-2004
1873108 1			112,800.00		111,917.48		01-Jun-2005		7.875%		SC - 80.00%		360		01-Dec-2004
1878304 1			96,300.00		95,583.07		01-May-2005		8.125%		OH - 90.00%		360		01-Dec-2004
1878555 1			99,450.00		98,852.31		01-Feb-2005		9.625%		CT - 65.00%		360		01-Nov-2004
1879080 1			194,750.00		193,307.40		01-Jun-2005		8.150%		GA - 95.00%		360		01-Dec-2004
1880974 1			101,250.00		100,714.28		01-Jun-2005		9.800%		TX - 75.00%		360		01-Dec-2004
1884575 1			115,000.00		114,267.67		01-Jun-2005		8.900%		CA - 76.67%		360		01-Dec-2004
1885195 1			220,000.00		219,011.94		01-Apr-2005		10.580%		NJ - 73.33%		360		01-Dec-2004
1885235 1			165,000.00		163,689.78		01-May-2005		7.800%		NJ - 75.00%		360		01-Dec-2004
1888449 1			456,000.00		451,140.15		01-May-2005		6.750%		MA - 80.00%		360		01-Nov-2004
1891114 1			50,000.00		48,507.16		01-May-2005		9.600%		TX - 62.50%		180		01-Dec-2004
1893464 1			126,500.00		125,699.47		01-Apr-2005		8.950%		NJ - 84.90%		360		01-Dec-2004
1893519 1			93,600.00		92,892.71		01-Jun-2005		8.050%		OH - 90.00%		360		01-Dec-2004
1894161 1			98,600.00		97,497.45		01-May-2005		6.250%		MI - 85.00%		360		01-Dec-2004
1894568 1			61,600.00		61,219.54		01-Apr-2005		9.050%		TX - 80.00%		360		01-Dec-2004
1898891 1			272,000.00		268,515.41		01-Mar-2005		6.275%		TX - 80.00%		360		01-Dec-2004
1901156 1			274,000.00		271,802.70		01-May-2005		7.750%		CA - 63.72%		360		01-Dec-2004
1903265 1			86,000.00		85,337.01		01-Apr-2005		7.950%		FL - 66.15%		360		01-Dec-2004
1903895 1			87,550.00		87,077.06		01-Apr-2005		9.700%		TX - 85.00%		360		01-Dec-2004
1904187 1			343,000.00		340,053.53		01-Jun-2005		7.400%		VA - 74.89%		360		01-Dec-2004
1907894 1			103,000.00		102,041.89		01-Mar-2005		6.990%		NM - 91.15%		360		01-Dec-2004
1908973 1			63,900.00		63,440.66		01-Jan-2005		8.300%		IN - 90.00%		360		01-Dec-2004
1909538 1			209,600.00		207,902.18		01-Jan-2005		7.700%		MD - 80.00%		360		01-Dec-2004
1910394 1			175,000.00		173,651.03		01-Mar-2005		7.950%		CO - 79.55%		360		01-Dec-2004
1912008 1			120,816.00		119,953.57		01-Jun-2005		8.475%		IN - 95.00%		360		01-Dec-2004
1912138 1			83,200.00		82,653.78		01-Mar-2005		8.750%		TX - 80.00%		360		01-Dec-2004
1924176 1			212,500.00		211,029.69		01-Feb-2005		8.490%		NY - 85.00%		360		01-Dec-2004
1928011 1			135,200.00		134,088.71		01-Jun-2005		7.625%		RI - 80.00%		360		01-Dec-2004
1931186 1			198,000.00		196,548.02		01-May-2005		8.200%		WI - 77.65%		360		01-Dec-2004
1931710 1			132,275.00		131,116.34		01-May-2005		7.300%		VA - 65.00%		360		01-Dec-2004
1935464 1			71,240.00		70,859.07		01-Apr-2005		9.750%		TX - 74.99%		360		01-Dec-2004
1000035223 1			238,000.00		236,453.32		01-Dec-2004		8.800%		CA - 85.00%		360		01-Dec-2004
1000038346 1			326,400.00		324,332.14		01-Oct-2005		8.925%		FL - 80.00%		360		01-Dec-2004
1000075091 1			328,500.00		326,254.39		01-Jan-2005		8.550%		FL - 90.00%		360		01-Dec-2004
1594983 2			61,360.00		59,571.59		01-May-2005		7.250%		ID - 94.40%		240		01-Aug-2004
1719694 2			108,000.00		107,879.90		01-Feb-2005		9.500%		IL - 80.00%		360		01-Nov-2004


Page 14 of 32
Morgan Stanley ABS Capital I Inc. 2005-NC1

Mortgage Pass-Through Certificates

2005-NC1

October 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
1790318 2
			332,000.00		328,687.88		01-Sep-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
1818690 2			356,250.00		356,250.00		01-Mar-2005		6.200%		IL - 75.00%		360		01-Nov-2004
1825640 2			403,750.00		401,225.87		01-May-2005		8.990%		UT - 95.00%		360		01-Dec-2004
1831988 2			380,000.00		377,815.97		01-Dec-2004		9.400%		OH - 80.00%		360		01-Dec-2004
1832378 2			51,000.00		50,738.50		01-Mar-2005		9.950%		FL - 85.00%		360		01-Dec-2004
1836402 2			248,245.00		246,291.48		01-Dec-2004		8.300%		TX - 91.94%		360		01-Nov-2004
1840016 2			107,900.00		107,229.61		01-Jun-2005		9.450%		FL - 65.00%		360		01-Dec-2004
1842204 2			68,000.00		67,459.97		01-Jun-2005		7.800%		TX - 80.00%		360		01-Dec-2004
1844616 2			50,000.00		49,601.06		01-Apr-2005		7.800%		PA - 76.92%		360		01-Dec-2004
1846573 2			93,600.00		92,588.06		01-Apr-2005		6.675%		AR - 80.00%		360		01-Nov-2004
1848433 2			321,750.00		319,141.16		01-Jun-2005		8.150%		NJ - 90.00%		360		01-Nov-2004
1848884 2			54,000.00		53,638.22		01-May-2005		8.650%		NY - 90.00%		360		01-Dec-2004
1850545 2			293,600.00		290,893.42		01-Feb-2005		7.500%		IL - 80.00%		360		01-Nov-2004
1850637 2			117,000.00		115,944.74		01-Jun-2005		8.500%		CT - 90.00%		360		01-Dec-2004
1852758 2			50,000.00		49,664.99		01-May-2005		8.650%		PA - 80.65%		360		01-Dec-2004
1853078 2			174,400.00		173,152.61		01-Feb-2005		8.325%		GA - 80.00%		360		01-Dec-2004
1854648 2			82,800.00		79,541.10		01-May-2005		7.550%		TX - 90.00%		180		01-Dec-2004
1856026 2			301,500.00		299,009.62		01-Jan-2005		7.600%		NY - 90.00%		360		01-Dec-2004
1856196 2			296,000.00		293,270.88		01-Dec-2004		6.525%		NJ - 80.00%		360		01-Dec-2004
1857481 2			199,500.00		198,041.15		01-Jun-2005		8.550%		NJ - 78.85%		360		01-Dec-2004
1858123 2			213,210.00		211,516.96		01-May-2005		7.800%		GA - 90.00%		360		01-Dec-2004
1858856 2			60,000.00		59,160.11		01-May-2005		8.400%		MI - 41.67%		360		01-Nov-2004
1866225 2			136,000.00		134,773.41		01-Feb-2005		7.150%		OH - 80.00%		360		01-Dec-2004
1867236 2			300,000.00		298,396.24		01-Jun-2005		9.750%		NY - 80.00%		360		01-Dec-2004
1867800 2			360,000.00		356,907.55		01-Mar-2005		7.400%		MA - 90.00%		360		01-Dec-2004
1868019 2			162,000.00		160,677.14		01-May-2005		7.900%		FL - 90.00%		360		01-Dec-2004
1872977 2			83,700.00		82,986.78		01-Feb-2005		7.900%		FL - 90.00%		360		01-Nov-2004
1873000 2			73,600.00		72,997.95		01-Feb-2005		7.650%		TX - 80.00%		360		01-Dec-2004
1873089 2			380,000.00		380,000.00		01-May-2005		7.900%		IL - 80.00%		360		01-Dec-2004
1873591 2			62,000.00		61,617.68		01-Mar-2005		9.500%		NM - 68.89%		360		01-Nov-2004
1875057 2			260,000.00		257,995.82		01-Jun-2005		7.950%		NY - 80.00%		360		01-Dec-2004
1876414 2			83,200.00		82,626.40		01-Jun-2005		8.750%		TX - 80.00%		360		01-Dec-2004
1878063 2			111,568.00		110,442.83		01-Jun-2005		6.750%		WA - 80.00%		360		01-Dec-2004
1878774 2			51,000.00		50,738.64		01-Jun-2005		9.475%		SC - 85.00%		360		01-Jan-2005
1884303 2			52,650.00		52,372.16		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
1886378 2			174,400.00		172,796.40		01-May-2005		7.050%		FL - 80.00%		360		01-Dec-2004
1889030 2			184,500.00		182,589.41		01-Feb-2005		6.900%		CO - 90.00%		360		01-Nov-2004
1895620 2			132,000.00		131,012.42		01-Apr-2005		8.100%		TX - 80.00%		360		01-Dec-2004
1897873 2			182,685.00		180,985.53		01-May-2005		6.990%		ID - 95.00%		360		01-Dec-2004
1898682 2			440,000.00		435,906.90		01-May-2005		6.990%		CA - 80.00%		360		01-Dec-2004
1898910 2			72,000.00		71,505.28		01-Jun-2005		8.525%		TX - 80.00%		360		01-Dec-2004
1901049 2			118,800.00		117,644.50		01-Jun-2005		7.250%		OR - 90.00%		360		01-Dec-2004
1901277 2			488,750.00		484,945.06		01-Jun-2005		7.900%		NY - 85.00%		360		01-Dec-2004
1902033 2			249,559.00		249,559.00		01-Jun-2005		6.825%		IL - 80.00%		360		01-Dec-2004
1902078 2			71,500.00		70,965.04		01-May-2005		8.100%		MI - 65.00%		360		01-Dec-2004
1903979 2			52,000.00		51,557.58		01-May-2005		7.450%		NY - 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
1905002 2			92,800.00		92,800.00		01-May-2005		7.150%		IL - 80.00%		360		01-Dec-2004
1906258 2			85,000.00		84,400.14		01-Jun-2005		7.900%		MI - 80.95%		360		01-Jan-2005


Page 15 of 32
Morgan Stanley ABS Capital I Inc. 2005-NC1

Mortgage Pass-Through Certificates

2005-NC1

October 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
1906991 2
			425,000.00		421,167.10		01-Jun-2005		7.150%		CA - 71.43%		360		01-Dec-2004

1907190 2			390,175.00		375,190.83		01-May-2005		7.550%		TX - 50.35%		180		01-Dec-2004
1907313 2			116,000.00		115,140.66		01-Apr-2005		8.750%		WA - 80.00%		360		01-Dec-2004
1907737 2			128,250.00		127,300.02		01-Jan-2005		8.150%		PA - 90.00%		360		01-Dec-2004
1907854 2			233,750.00		232,487.03		01-Jan-2005		9.700%		OK - 85.00%		360		01-Dec-2004
1908078 2			297,000.00		294,050.79		01-Jun-2005		6.650%		CA - 84.86%		360		01-Dec-2004
1908107 2			114,080.00		114,080.00		01-Jun-2005		7.400%		MO - 80.00%		360		01-Dec-2004
1909347 2			400,000.00		396,213.89		01-Dec-2004		6.900%		NY - 80.00%		360		01-Dec-2004
1909621 2			116,000.00		115,333.30		01-Mar-2005		9.400%		CO - 80.00%		360		01-Dec-2004
1913392 2			51,000.00		50,186.96		01-Jun-2005		9.825%		TX - 75.00%		240		01-Dec-2004
1914338 2			157,500.00		156,034.84		01-May-2005		6.990%		NY - 90.00%		360		01-Dec-2004
1915245 2			127,500.00		126,662.93		01-Jun-2005		8.750%		KY - 85.00%		360		01-Dec-2004
1919231 2			172,000.00		170,647.65		01-Apr-2005		7.850%		MA - 56.03%		360		01-Dec-2004
1919677 2			108,750.00		108,233.09		01-May-2005		10.480%		TX - 75.00%		360		01-Dec-2004
1920033 2			106,000.00		105,015.76		01-May-2005		7.000%		IL - 50.72%		360		01-Dec-2004
1921596 2			58,650.00		58,232.61		01-Jun-2005		8.350%		PA - 85.00%		360		01-Dec-2004
1921691 2			311,250.00		309,122.31		01-Sep-2005		8.550%		CA - 75.00%		360		01-Dec-2004
1923403 2			472,000.00		472,000.00		01-Jun-2005		5.990%		CA - 80.00%		360		01-Dec-2004
1924767 2			280,500.00		278,463.35		01-May-2005		8.250%		MO - 85.00%		360		01-Dec-2004
1927180 2			59,250.00		58,774.07		01-Mar-2005		7.750%		MI - 75.00%		360		01-Dec-2004
1928214 2			122,550.00		121,850.43		01-Dec-2004		8.950%		MN - 95.00%		360		01-Jan-2005
1933594 2			336,000.00		333,838.62		01-Jun-2005		8.850%		NY - 82.96%		360		01-Dec-2004
1935415 2			584,800.00		578,824.50		01-May-2005		6.500%		CA - 80.00%		360		01-Dec-2004
1936111 2			137,700.00		136,749.13		01-May-2005		8.500%		FL - 85.00%		360		01-Dec-2004
1936630 2			125,000.00		124,007.42		01-Apr-2005		7.800%		AZ - 78.13%		360		01-Dec-2004
1937035 2			227,500.00		226,066.06		01-Feb-2005		8.950%		NJ - 68.94%		360		01-Dec-2004
1937428 2			100,000.00		99,350.10		01-Jun-2005		8.800%		MI - 80.00%		360		01-Dec-2004
1938447 2			152,000.00		150,642.40		01-Apr-2005		7.200%		WI - 80.00%		360		01-Dec-2004
1940108 2			117,600.00		116,788.02		01-May-2005		8.500%		MI - 80.00%		360		01-Dec-2004
1940325 2			54,000.00		53,641.80		01-Apr-2005		8.700%		IN - 90.00%		360		01-Dec-2004
1940860 2			187,500.00		186,051.44		01-May-2005		8.200%		NJ - 75.00%		360		01-Dec-2004
1942418 2			106,800.00		105,951.86		01-Feb-2005		7.800%		MN - 80.00%		360		01-Dec-2004
1942424 2			295,800.00		294,179.20		01-Jan-2005		9.150%		MA - 85.00%		360		01-Jan-2005
1942780 2			78,000.00		77,487.86		01-May-2005		8.750%		TN - 100.00%		360		01-Dec-2004
1943337 2			318,400.00		315,298.21		01-May-2005		6.750%		TX - 80.00%		360		01-Dec-2004
1948430 2			113,900.00		113,231.73		01-Jan-2005		9.300%		TX - 85.00%		360		01-Dec-2004
1000026466 2			340,000.00		339,914.29		01-May-2005		5.990%		CA - 80.00%		360		01-Nov-2004
1000093936 2			117,325.00		116,620.28		01-Feb-2005		8.700%		IN - 95.00%		360		01-Jan-2005
1000094533 2			101,150.00		100,465.47		01-Jun-2005		8.600%		OH - 85.00%		360		01-Dec-2004
1000099752 2			188,715.00		187,385.37		01-Mar-2005		8.400%		MN - 90.00%		360		01-Dec-2004


TOTAL			25,349,022.00		25,158,068.07


Page 16 of 32
Morgan Stanley ABS Capital I Inc. 2005-NC1

Mortgage Pass-Through Certificates

2005-NC1

October 25, 2005 Distribution
Prepayment Report

VOLUNTARY PREPAYMENTS


											Group 2		Group 1		Total




Current


Number of Paid in Full Loans										148		116		264
Number of Repurchased Loans										0		0		0
Total Number of Loans Prepaid in Full										148		116		264
Curtailments Amount										20,348.72		29,446.02		49,794.74
Paid in Full Balance										31,587,868.41		22,972,710.45		54,560,578.86
Repurchased Loans Balance										0.00		0.00		0.00
Total Prepayment Amount										31,608,217.13		23,002,156.47		54,610,373.60

Cumulative


Number of Paid in Full Loans										944		818		1,762
Number of Repurchased Loans										1		5		6
Total Number of Loans Prepaid in Full										945		823		1,768
Paid in Full Balance										220,978,586.35		164,794,657.06		385,773,243.41
Repurchased Loans Balance										361,184.88		1,399,270.78		1,760,455.66
Curtailments Amount										547,246.58		393,191.24		940,437.82
Total Prepayment Amount										221,887,017.81		166,587,119.08		388,474,136.89










Page 17 of 32
Morgan Stanley ABS Capital I Inc. 2005-NC1

Mortgage Pass-Through Certificates

2005-NC1

October 25, 2005 Distribution

VOLUNTARY PREPAYMENTS RATES


											Group 2		Group 1		Total



SMM										4.44%		5.14%		4.71%
3 Months Avg SMM										4.39%		5.19%		4.70%
12 Months Avg SMM										3.45%		4.05%		3.69%
Avg SMM Since Cut-off										3.45%		4.05%		3.69%


CPR										42.01%		46.94%		43.96%
3 Months Avg CPR										41.63%		47.25%		43.87%
12 Months Avg CPR										34.41%		39.10%		36.28%
Avg CPR Since Cut-off										34.41%		39.10%		36.28%


PSA										1,890.81%		2,106.61%		1,976.24%
3 Months Avg PSA Approximation										2,059.20%		2,328.28%		2,166.78%
12 Months Avg PSA Approximation										2,260.08%		2,555.43%		2,378.11%
Avg PSA Since Cut-off Approximation										2,260.08%		2,555.43%		2,378.11%










Page 18 of 32
Morgan Stanley ABS Capital I Inc. 2005-NC1

Mortgage Pass-Through Certificates

2005-NC1

October 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 32
Morgan Stanley ABS Capital I Inc. 2005-NC1

Mortgage Pass-Through Certificates

2005-NC1

October 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

1639527 1			79,200.00		78,374.96			08-Sep-2005		7.990%		CA - 90.00%		Paid Off - 360		01-Aug-2004


1648386 1			144,000.00		140,924.58			07-Sep-2005		6.350%		CA - 90.00%		Paid Off - 360		01-Aug-2004

1719842 1			200,000.00		198,021.26			29-Sep-2005		6.850%		CA - 59.70%		Paid Off - 360		01-Nov-2004

1755265 2			170,000.00		168,823.20			11-Oct-2005		8.000%		MD - 85.00%		Paid Off - 360		01-Dec-2004

1768704 1			257,550.00		253,477.79			21-Sep-2005		7.530%		CA - 85.00%		Paid Off - 360		01-Nov-2004

1782629 1			317,600.00		317,505.72			16-Sep-2005		7.350%		CA - 80.00%		Paid Off - 360		01-Oct-2004

1788430 2			64,000.00		63,651.10			03-Oct-2005		9.175%		TX - 80.00%		Paid Off - 360		01-Dec-2004

1789943 1			160,000.00		158,847.44			26-Sep-2005		8.575%		CT - 80.00%		Paid Off - 360		01-Nov-2004

1791018 1			297,350.00		295,167.73			22-Sep-2005		7.700%		NY - 95.00%		Paid Off - 360		01-Dec-2004

1799028 2			133,500.00		132,428.30			30-Sep-2005		8.200%		CA - 53.40%		Paid Off - 360		01-Oct-2004

1799279 2			117,600.00		116,597.34			28-Sep-2005		7.600%		WV - 80.00%		Paid Off - 360		01-Nov-2004

1807706 1			212,500.00		209,677.56			29-Sep-2005		6.300%		CA - 85.00%		Paid Off - 360		01-Oct-2004

1809013 2			462,400.00		462,400.00			03-Oct-2005		7.990%		AL - 85.00%		Paid Off - 360		01-Nov-2004

1809242 1			176,250.00		174,745.03			05-Oct-2005		6.925%		CA - 75.00%		Paid Off - 360		01-Dec-2004

1813166 1			138,150.00		136,726.22			29-Sep-2005		6.925%		CA - 66.42%		Paid Off - 360		01-Oct-2004

1819199 2			128,700.00		127,539.14			06-Oct-2005		7.050%		IL - 80.00%		Paid Off - 360		01-Dec-2004

1821304 1			115,000.00		113,934.57			29-Sep-2005		6.500%		CO - 82.14%		Paid Off - 360		01-Dec-2004

1823752 2			100,000.00		99,092.02			03-Oct-2005		8.750%		FL - 80.00%		Paid Off - 360		01-Dec-2004

1824254 2			250,000.00		248,148.22			22-Sep-2005		8.150%		NV - 89.74%		Paid Off - 360		01-Nov-2004

1825243 1			346,400.00		343,079.73			16-Sep-2005		7.300%		NH - 80.00%		Paid Off - 360		01-Oct-2004

1826688 1			404,175.00		400,623.20			06-Oct-2005		7.050%		CA - 85.00%		Paid Off - 360		01-Dec-2004

1828402 1			120,000.00		119,249.07			27-Sep-2005		8.500%		MN - 80.00%		Paid Off - 360		01-Dec-2004

1831115 1			352,000.00		349,032.02			26-Sep-2005		6.990%		CA - 80.00%		Paid Off - 360		01-Dec-2004

1835521 1			79,200.00		78,588.84			30-Sep-2005		7.950%		IL - 90.00%		Paid Off - 360		01-Nov-2004

1838629 2			290,000.00		286,470.57			06-Oct-2005		5.700%		CA - 82.86%		Paid Off - 360		01-Nov-2004

1838919 2			104,800.00		103,923.43			28-Sep-2005		7.550%		AZ - 80.00%		Paid Off - 360		01-Nov-2004

1839668 1			110,000.00		109,309.15			28-Sep-2005		8.480%		MO - 55.00%		Paid Off - 360		01-Dec-2004

1840177 1			153,000.00		151,820.49			20-Sep-2005		7.450%		FL - 90.00%		Paid Off - 360		01-Dec-2004

1840340 1			187,500.00		186,086.38			11-Oct-2005		8.663%		RI - 75.00%		Paid Off - 360		01-Nov-2004

1843650 2			136,000.00		134,715.91			16-Sep-2005		6.400%		FL - 85.00%		Paid Off - 360		01-Dec-2004

1843745 2			240,000.00		236,395.69			27-Sep-2005		8.200%		FL - 80.00%		Paid Off - 360		01-Nov-2004

1844319 2			148,750.00		147,647.45			13-Oct-2005		7.650%		VA - 85.00%		Paid Off - 360		01-Dec-2004

1845185 1			84,000.00		83,470.46			07-Oct-2005		8.950%		TX - 75.00%		Paid Off - 360		01-Nov-2004

1846079 1			136,000.00		135,207.55			03-Oct-2005		8.850%		CA - 85.00%		Paid Off - 360		01-Dec-2004

1846762 1			268,800.00		268,800.00			28-Sep-2005		6.350%		CA - 80.00%		Paid Off - 360		01-Nov-2004

1847453 2			364,000.00		360,120.64			29-Sep-2005		6.750%		CA - 80.00%		Paid Off - 360		01-Oct-2004

1847681 1			250,400.00		247,814.29			20-Sep-2005		5.925%		CA - 80.00%		Paid Off - 360		01-Dec-2004



Page 20 of 32
Morgan Stanley ABS Capital I Inc. 2005-NC1

Mortgage Pass-Through Certificates

2005-NC1

October 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

1847861 2			100,300.00		99,255.41			30-Sep-2005		6.400%		AZ - 85.00%		Paid Off - 360		01-Nov-2004


1848101 1			148,500.00		147,320.82			20-Sep-2005		7.800%		NJ - 90.00%		Paid Off - 360		01-Nov-2004

1849257 2			237,600.00		235,285.37			03-Oct-2005		6.750%		NM - 80.00%		Paid Off - 360		01-Nov-2004

1850977 2			171,200.00		169,303.94			22-Sep-2005		6.850%		WI - 80.00%		Paid Off - 360		01-Nov-2004

1851126 2			340,000.00		340,000.00			07-Oct-2005		6.650%		CA - 80.00%		Paid Off - 360		01-Nov-2004

1851168 2			55,000.00		54,459.65			16-Sep-2005		8.500%		ID - 32.35%		Paid Off - 360		01-Jul-2004

1853716 1			300,000.00		296,992.02			05-Oct-2005		6.600%		CA - 75.00%		Paid Off - 360		01-Nov-2004

1855498 2			140,000.00		139,420.32			23-Sep-2005		10.525%		IL - 68.29%		Paid Off - 360		01-Dec-2004

1855639 1			268,000.00		266,493.33			19-Sep-2005		9.025%		FL - 80.00%		Paid Off - 360		01-Dec-2004

1856365 1			353,600.00		353,599.94			22-Sep-2005		5.500%		MD - 80.00%		Paid Off - 360		01-Dec-2004

1857041 1			212,000.00		209,852.43			29-Sep-2005		6.550%		CA - 80.00%		Paid Off - 360		01-Nov-2004

1858743 2			153,564.00		152,143.53			14-Oct-2005		6.550%		VA - 80.00%		Paid Off - 360		01-Dec-2004

1859972 1			210,000.00		209,946.83			22-Sep-2005		5.550%		CA - 77.35%		Paid Off - 360		01-Nov-2004

1862563 2			187,000.00		185,704.34			04-Oct-2005		7.990%		NH - 85.00%		Paid Off - 360		01-Dec-2004

1862665 1			308,000.00		308,000.00			03-Oct-2005		7.750%		CA - 80.00%		Paid Off - 360		01-Dec-2004

1863074 1			320,000.00		317,137.52			04-Oct-2005		7.250%		CA - 55.65%		Paid Off - 360		01-Nov-2004

1863915 2			175,500.00		174,577.07			05-Oct-2005		9.350%		NJ - 75.00%		Paid Off - 360		01-Dec-2004

1864309 2			198,000.00		196,427.83			20-Sep-2005		7.800%		OR - 90.00%		Paid Off - 360		01-Nov-2004

1865334 2			286,000.00		283,662.12			05-Oct-2005		7.150%		CA - 72.41%		Paid Off - 360		01-Dec-2004

1865732 2			332,000.00		329,947.51			14-Oct-2005		7.200%		CA - 80.00%		Paid Off - 360		01-Nov-2004

1867478 1			184,000.00		182,813.77			27-Sep-2005		8.350%		IL - 80.00%		Paid Off - 360		01-Dec-2004

1867541 1			170,050.00		168,411.56			13-Oct-2005		7.600%		MI - 95.00%		Paid Off - 360		01-Dec-2004

1868096 1			161,075.00		159,950.00			21-Sep-2005		7.950%		CA - 85.00%		Paid Off - 360		01-Dec-2004

1869558 1			157,000.00		155,777.73			27-Sep-2005		7.400%		CA - 87.22%		Paid Off - 360		01-Dec-2004

1870331 1			153,000.00		151,497.84			20-Sep-2005		6.725%		AZ - 90.00%		Paid Off - 360		01-Nov-2004

1871115 1			132,000.00		129,547.02			14-Oct-2005		7.500%		IL - 77.65%		Paid Off - 240		01-Dec-2004

1871170 2			364,792.00		364,792.00			29-Sep-2005		6.550%		CA - 80.00%		Paid Off - 360		01-Dec-2004

1871802 1			325,000.00		321,872.62			23-Sep-2005		6.300%		CA - 86.67%		Paid Off - 360		01-Dec-2004

1871886 2			86,000.00		85,881.57			13-Oct-2005		7.600%		MI - 80.37%		Paid Off - 360		01-Dec-2004

1872671 2			369,900.00		366,473.36			13-Oct-2005		6.500%		CA - 90.00%		Paid Off - 360		01-Dec-2004

1872695 2			311,500.00		308,388.15			12-Oct-2005		6.250%		CA - 84.42%		Paid Off - 360		01-Dec-2004

1872904 1			245,000.00		244,898.44			03-Oct-2005		6.250%		CA - 87.81%		Paid Off - 360		01-Dec-2004

1873120 2			75,000.00		74,398.71			03-Oct-2005		7.250%		OH - 53.57%		Paid Off - 360		01-Dec-2004

1873859 2			388,000.00		388,000.00			04-Oct-2005		5.990%		CA - 80.00%		Paid Off - 360		01-Nov-2004

1874029 2			198,000.00		196,671.19			22-Sep-2005		8.150%		MI - 90.00%		Paid Off - 360		01-Dec-2004

1874422 2			297,600.00		297,600.00			11-Oct-2005		6.600%		CA - 80.00%		Paid Off - 360		01-Dec-2004

1874891 1			152,750.00		151,549.10			11-Oct-2005		7.350%		CA - 65.00%		Paid Off - 360		01-Dec-2004

1875001 1			330,000.00		327,683.75			28-Sep-2005		7.925%		CA - 75.00%		Paid Off - 360		01-Dec-2004



Page 21 of 32
Morgan Stanley ABS Capital I Inc. 2005-NC1

Mortgage Pass-Through Certificates

2005-NC1

October 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

1875007 1			135,000.00		134,104.73			26-Sep-2005		8.700%		CA - 75.00%		Paid Off - 360		01-Nov-2004


1875447 1			160,000.00		158,904.55			13-Oct-2005		8.050%		CA - 69.57%		Paid Off - 360		01-Dec-2004

1876225 1			156,000.00		154,307.28			29-Sep-2005		5.990%		HI - 69.33%		Paid Off - 360		01-Dec-2004

1876509 2			431,200.00		431,200.00			21-Sep-2005		7.150%		AZ - 80.00%		Paid Off - 360		01-Dec-2004

1876614 2			215,910.00		213,928.79			29-Sep-2005		6.550%		MN - 90.00%		Paid Off - 360		01-Dec-2004

1877665 2			220,000.00		218,767.52			04-Oct-2005		9.150%		NJ - 80.00%		Paid Off - 360		01-Dec-2004

1877698 2			231,500.00		229,175.72			05-Oct-2005		6.075%		NY - 68.09%		Paid Off - 360		01-Dec-2004

1877829 1			292,800.00		292,800.00			26-Sep-2005		6.250%		CA - 80.00%		Paid Off - 360		01-Nov-2004

1877941 2			240,000.00		237,439.46			28-Sep-2005		5.750%		CA - 80.00%		Paid Off - 360		01-Dec-2004

1878164 2			135,785.00		134,696.42			21-Sep-2005		7.250%		NC - 80.00%		Paid Off - 360		01-Dec-2004

1878430 2			63,900.00		63,416.95			11-Oct-2005		7.550%		NY - 79.97%		Paid Off - 360		01-Dec-2004

1879350 2			56,000.00		55,164.12			11-Oct-2005		7.400%		TN - 80.00%		Paid Off - 360		01-Dec-2004

1880244 2			128,000.00		127,324.37			27-Sep-2005		8.800%		FL - 80.00%		Paid Off - 360		01-Jan-2005

1880481 2			500,000.00		500,000.00			22-Sep-2005		6.650%		CA - 74.07%		Paid Off - 360		01-Nov-2004

1881906 2			442,800.00		442,800.00			04-Oct-2005		6.150%		CA - 90.00%		Paid Off - 360		01-Dec-2004

1883960 2			150,000.00		148,469.73			20-Sep-2005		5.990%		NJ - 48.70%		Paid Off - 360		01-Dec-2004

1884470 2			217,100.00		214,095.37			19-Sep-2005		6.490%		CA - 65.00%		Paid Off - 360		01-Dec-2004

1884483 1			369,000.00		365,803.40			29-Sep-2005		6.850%		NY - 85.81%		Paid Off - 360		01-Dec-2004

1884725 1			84,800.00		84,310.91			30-Sep-2005		8.900%		TX - 80.00%		Paid Off - 360		01-Dec-2004

1885149 1			122,000.00		121,211.19			14-Oct-2005		8.825%		NJ - 100.00%		Paid Off - 360		01-Nov-2004

1885163 1			131,000.00		129,443.21			16-Sep-2005		5.700%		CA - 56.96%		Paid Off - 360		01-Nov-2004

1886270 2			162,500.00		161,234.90			22-Sep-2005		7.400%		CA - 65.00%		Paid Off - 360		01-Dec-2004

1886358 1			270,000.00		#######			30-Sep-2005		7.650%		CA - 83.08%		Paid Off - 360		01-Dec-2004

1886676 2			238,000.00		236,354.30			05-Oct-2005		8.000%		FL - 85.00%		Paid Off - 360		01-Dec-2004

1887471 2			427,000.00		423,066.40			03-Oct-2005		6.990%		CA - 89.89%		Paid Off - 360		01-Dec-2004

1888226 2			128,000.00		126,765.99			03-Oct-2005		6.425%		MD - 80.00%		Paid Off - 360		01-Dec-2004

1888913 1			144,000.00		142,974.07			19-Sep-2005		7.850%		IN - 80.00%		Paid Off - 360		01-Dec-2004

1889160 2			423,500.00		420,392.00			30-Sep-2005		7.700%		CA - 68.86%		Paid Off - 360		01-Dec-2004

1889302 1			144,000.00		143,015.57			03-Oct-2005		8.550%		CA - 90.00%		Paid Off - 360		01-Nov-2004

1889326 2			239,000.00		237,990.80			03-Oct-2005		10.400%		WA - 74.69%		Paid Off - 360		01-Dec-2004

1889802 2			630,000.00		624,646.66			23-Sep-2005		6.950%		NV - 84.00%		Paid Off - 360		01-Dec-2004

1890290 1			171,000.00		169,468.14			11-Oct-2005		8.400%		ME - 95.00%		Paid Off - 360		01-Dec-2004

1890921 1			210,000.00		205,294.35			07-Oct-2005		6.990%		CA - 75.00%		Paid Off - 240		01-Nov-2004

1891542 2			152,000.00		150,862.57			11-Oct-2005		7.650%		FL - 80.00%		Paid Off - 360		01-Dec-2004

1891597 2			100,300.00		99,750.37			06-Oct-2005		9.150%		MI - 85.00%		Paid Off - 360		01-Dec-2004

1891705 2			230,000.00		227,499.12			14-Oct-2005		5.875%		NY - 55.56%		Paid Off - 360		01-Dec-2004

1891783 1			81,600.00		80,912.62			13-Oct-2005		7.500%		NC - 91.69%		Paid Off - 360		01-Nov-2004

1891895 1			73,000.00		72,456.27			12-Oct-2005		7.625%		AZ - 100.00%		Paid Off - 360		01-Dec-2004



Page 22 of 32
Morgan Stanley ABS Capital I Inc. 2005-NC1

Mortgage Pass-Through Certificates

2005-NC1

October 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

1893342 2			82,400.00		81,738.54			20-Sep-2005		7.250%		PA - 80.00%		Paid Off - 360		01-Dec-2004


1893400 1			238,500.00		236,848.23			06-Oct-2005		8.175%		NY - 90.00%		Paid Off - 360		01-Dec-2004

1893471 2			130,500.00		129,443.58			29-Sep-2005		7.200%		AZ - 90.00%		Paid Off - 360		01-Dec-2004

1893964 2			150,000.00		149,085.34			12-Oct-2005		9.350%		MA - 57.03%		Paid Off - 360		01-Dec-2004

1894011 2			267,000.00		264,630.60			03-Oct-2005		6.250%		NJ - 83.44%		Paid Off - 360		01-Jan-2005

1894307 2			589,500.00		585,423.81			20-Sep-2005		8.000%		MA - 90.00%		Paid Off - 360		01-Dec-2004

1894503 1			220,000.00		218,400.39			23-Sep-2005		7.750%		CA - 80.00%		Paid Off - 360		01-Dec-2004

1894504 2			112,500.00		111,723.65			21-Sep-2005		8.010%		WI - 81.52%		Paid Off - 360		01-Dec-2004

1894834 1			326,000.00		323,462.10			06-Oct-2005		7.400%		CA - 76.71%		Paid Off - 360		01-Dec-2004

1895012 1			215,000.00		213,374.48			12-Oct-2005		7.550%		CA - 45.74%		Paid Off - 360		01-Dec-2004

1895193 2			312,000.00		309,519.19			16-Sep-2005		7.300%		IL - 80.00%		Paid Off - 360		01-Dec-2004

1895272 2			315,000.00		313,069.14			22-Sep-2005		8.600%		NJ - 70.00%		Paid Off - 360		01-Dec-2004

1895581 2			285,000.00		282,820.06			06-Oct-2005		7.625%		HI - 75.00%		Paid Off - 360		01-Dec-2004

1896037 1			95,000.00		93,986.58			29-Sep-2005		6.500%		ME - 56.21%		Paid Off - 360		01-Dec-2004

1896338 2			196,500.00		194,803.50			05-Oct-2005		7.075%		NH - 75.00%		Paid Off - 360		01-Dec-2004

1896403 2			326,000.00		322,554.18			06-Oct-2005		5.800%		WA - 80.00%		Paid Off - 360		01-Dec-2004

1896803 2			195,920.00		194,066.29			20-Sep-2005		7.000%		WA - 80.00%		Paid Off - 360		01-Dec-2004

1896846 1			254,400.00		251,952.00			03-Oct-2005		6.300%		CA - 80.00%		Paid Off - 360		01-Dec-2004

1897266 2			148,750.00		147,510.24			20-Sep-2005		7.050%		OH - 85.00%		Paid Off - 360		01-Dec-2004

1898195 1			180,000.00		178,612.38			07-Oct-2005		7.450%		CA - 80.00%		Paid Off - 360		01-Dec-2004

1898222 1			210,600.00		209,242.28			06-Oct-2005		8.350%		CA - 90.00%		Paid Off - 360		01-Dec-2004

1898579 2			132,600.00		131,428.91			21-Sep-2005		6.750%		VA - 85.00%		Paid Off - 360		01-Dec-2004

1899014 2			126,600.00		125,775.54			27-Sep-2005		8.300%		NJ - 84.97%		Paid Off - 360		01-Dec-2004

1899040 1			50,250.00		48,604.43			03-Oct-2005		7.150%		TX - 75.00%		Paid Off - 180		01-Dec-2004

1899621 1			221,000.00		217,746.94			29-Sep-2005		6.300%		CA - 85.00%		Paid Off - 360		01-Dec-2004

1899867 1			204,800.00		202,947.52			20-Sep-2005		6.625%		AZ - 80.00%		Paid Off - 360		01-Dec-2004

1900674 1			120,588.00		119,275.94			14-Oct-2005		6.600%		WI - 76.32%		Paid Off - 360		01-Dec-2004

1902164 2			121,785.00		121,095.39			22-Sep-2005		8.990%		OR - 82.29%		Paid Off - 360		01-Dec-2004

1902646 2			143,500.00		142,093.19			30-Sep-2005		6.750%		CA - 57.17%		Paid Off - 360		01-Dec-2004

1902801 2			304,000.00		301,466.33			04-Oct-2005		7.050%		IL - 80.00%		Paid Off - 360		01-Dec-2004

1902902 1			185,000.00		183,588.71			05-Oct-2005		7.600%		NV - 77.73%		Paid Off - 360		01-Dec-2004

1903165 1			152,000.00		146,654.21			20-Sep-2005		6.000%		CA - 43.43%		Paid Off - 180		01-Dec-2004

1903238 1			265,500.00		263,132.69			19-Sep-2005		6.700%		CA - 90.00%		Paid Off - 360		01-Dec-2004

1904564 1			54,825.00		54,281.39			05-Oct-2005		7.000%		FL - 85.00%		Paid Off - 360		01-Dec-2004

1904689 2			124,000.00		123,999.67			30-Sep-2005		7.400%		MI - 80.00%		Paid Off - 360		01-Dec-2004

1904756 2			182,000.00		180,738.95			23-Sep-2005		7.990%		MD - 60.67%		Paid Off - 360		01-Dec-2004

1904960 2			224,000.00		221,944.72			03-Oct-2005		6.750%		NJ - 80.00%		Paid Off - 360		01-Dec-2004

1905034 1			190,600.00		189,255.47			03-Oct-2005		7.900%		MA - 82.87%		Paid Off - 360		01-Dec-2004



Page 23 of 32
Morgan Stanley ABS Capital I Inc. 2005-NC1

Mortgage Pass-Through Certificates

2005-NC1

October 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

1905359 1			129,600.00		128,530.22			06-Oct-2005		7.100%		FL - 80.00%		Paid Off - 360		01-Dec-2004


1906764 2			192,000.00		190,869.91			07-Oct-2005		8.800%		TX - 80.00%		Paid Off - 360		01-Dec-2004

1906982 2			217,100.00		215,755.64			26-Sep-2005		8.550%		NY - 65.00%		Paid Off - 360		01-Dec-2004

1907111 2			143,500.00		142,497.20			11-Oct-2005		7.400%		HI - 79.72%		Paid Off - 360		01-Jan-2005

1907226 2			446,000.00		442,533.47			19-Sep-2005		7.500%		FL - 84.95%		Paid Off - 360		01-Dec-2004

1907848 1			199,800.00		198,550.18			28-Sep-2005		8.500%		WI - 90.00%		Paid Off - 360		01-Dec-2004

1907956 2			244,800.00		241,035.62			20-Sep-2005		9.400%		RI - 90.00%		Paid Off - 360		01-Dec-2004

1908701 2			244,800.00		243,021.11			13-Oct-2005		7.750%		MD - 90.00%		Paid Off - 360		01-Dec-2004

1908952 1			149,150.00		148,087.38			27-Sep-2005		7.850%		MD - 95.00%		Paid Off - 360		01-Dec-2004

1909450 2			220,000.00		218,107.20			07-Oct-2005		6.888%		MO - 80.00%		Paid Off - 360		01-Dec-2004

1909849 2			185,000.00		183,032.56			23-Sep-2005		7.850%		CA - 38.54%		Paid Off - 360		01-Dec-2004

1909883 1			278,000.00		275,682.99			28-Sep-2005		7.050%		HI - 70.38%		Paid Off - 360		01-Dec-2004

1910047 2			192,200.00		190,350.53			16-Sep-2005		6.300%		DE - 87.36%		Paid Off - 360		01-Dec-2004

1910173 2			224,000.00		223,342.04			21-Sep-2005		6.650%		CA - 80.00%		Paid Off - 360		01-Dec-2004

1910221 1			232,000.00		229,659.76			16-Sep-2005		6.050%		NM - 80.00%		Paid Off - 360		01-Dec-2004

1910287 1			183,750.00		180,728.92			28-Sep-2005		5.990%		CA - 75.00%		Paid Off - 360		01-Dec-2004

1911137 2			220,500.00		218,910.36			26-Sep-2005		7.800%		MN - 90.00%		Paid Off - 360		01-Dec-2004

1911245 2			216,700.00		215,274.57			27-Sep-2005		8.250%		NY - 84.98%		Paid Off - 360		01-Dec-2004

1911373 1			211,650.00		209,707.95			28-Sep-2005		6.550%		CA - 85.00%		Paid Off - 360		01-Dec-2004

1911376 1			160,200.00		158,903.16			13-Oct-2005		7.200%		FL - 90.00%		Paid Off - 360		01-Dec-2004

1911381 2			225,000.00		223,088.06			20-Sep-2005		6.950%		CA - 73.77%		Paid Off - 360		01-Dec-2004

1911486 2			516,000.00		516,000.00			03-Oct-2005		6.150%		CA - 80.00%		Paid Off - 360		01-Dec-2004

1911887 1			210,000.00		208,788.93			21-Sep-2005		8.900%		PA - 100.00%		Paid Off - 360		01-Dec-2004

1912742 2			94,160.00		93,205.65			12-Oct-2005		6.025%		MT - 80.00%		Paid Off - 360		01-Dec-2004

1912868 2			162,000.00		160,912.78			12-Oct-2005		8.150%		FL - 90.00%		Paid Off - 360		01-Dec-2004

1912913 2			325,000.00		322,498.04			05-Oct-2005		7.600%		MA - 65.00%		Paid Off - 360		01-Dec-2004

1913499 1			315,000.00		312,665.25			03-Oct-2005		7.650%		CA - 92.65%		Paid Off - 360		01-Dec-2004

1913782 2			118,000.00		116,842.71			28-Sep-2005		6.300%		AZ - 80.00%		Paid Off - 360		01-Dec-2004

1913826 1			123,600.00		122,477.93			12-Oct-2005		6.700%		WI - 80.00%		Paid Off - 360		01-Dec-2004

1914129 1			140,250.00		137,961.61			20-Sep-2005		8.650%		CA - 85.00%		Paid Off - 240		01-Dec-2004

1914312 2			161,600.00		159,921.45			11-Oct-2005		5.900%		AZ - 80.00%		Paid Off - 360		01-Dec-2004

1914399 1			191,250.00		189,434.89			27-Sep-2005		6.550%		CA - 85.00%		Paid Off - 360		01-Dec-2004

1914446 2			306,000.00		303,374.58			20-Sep-2005		6.900%		AZ - 90.00%		Paid Off - 360		01-Dec-2004

1914459 2			172,000.00		170,560.38			12-Oct-2005		7.250%		AZ - 80.00%		Paid Off - 360		01-Dec-2004

1915781 2			137,900.00		136,927.23			14-Oct-2005		7.900%		TX - 100.00%		Paid Off - 360		01-Dec-2004

1916595 2			320,000.00		316,585.93			07-Oct-2005		5.750%		IL - 89.39%		Paid Off - 360		01-Dec-2004

1916861 2			199,000.00		197,621.26			21-Sep-2005		7.990%		CA - 59.94%		Paid Off - 360		01-Dec-2004

1917318 2			169,900.00		168,466.59			12-Oct-2005		6.990%		CA - 62.95%		Paid Off - 360		01-Dec-2004



Page 24 of 32
Morgan Stanley ABS Capital I Inc. 2005-NC1

Mortgage Pass-Through Certificates

2005-NC1

October 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

1918943 1			109,000.00		108,175.60			03-Oct-2005		7.700%		FL - 87.90%		Paid Off - 360		01-Dec-2004


1919355 1			99,750.00		99,175.43			29-Sep-2005		8.950%		FL - 75.00%		Paid Off - 360		01-Dec-2004

1920047 1			208,000.00		206,145.42			21-Sep-2005		6.700%		CA - 89.27%		Paid Off - 360		01-Dec-2004

1920115 1			290,000.00		287,209.41			12-Oct-2005		6.300%		CA - 89.23%		Paid Off - 360		01-Dec-2004

1920166 1			108,750.00		107,919.78			05-Oct-2005		7.500%		CA - 75.00%		Paid Off - 360		01-Dec-2004

1920772 1			289,500.00		286,631.36			26-Sep-2005		6.300%		CA - 94.92%		Paid Off - 360		01-Dec-2004

1921297 2			447,000.00		442,234.25			21-Sep-2005		6.080%		MN - 84.39%		Paid Off - 360		01-Dec-2004

1922324 1			312,000.00		309,968.27			22-Sep-2005		8.300%		GA - 80.00%		Paid Off - 360		01-Dec-2004

1922381 2			174,250.00		172,271.47			13-Oct-2005		6.000%		GA - 67.54%		Paid Off - 360		01-Dec-2004

1922451 2			333,600.00		330,122.88			22-Sep-2005		5.875%		CA - 80.00%		Paid Off - 360		01-Dec-2004

1923408 2			112,400.00		111,187.61			30-Sep-2005		7.500%		FL - 80.00%		Paid Off - 360		01-Dec-2004

1923550 2			168,300.00		166,799.41			06-Oct-2005		6.700%		FL - 90.00%		Paid Off - 360		01-Dec-2004

1923735 2			111,200.00		110,373.71			14-Oct-2005		7.650%		OH - 80.00%		Paid Off - 360		01-Dec-2004

1923952 2			123,000.00		122,319.09			22-Sep-2005		9.100%		CA - 53.48%		Paid Off - 360		01-Dec-2004

1924549 1			266,000.00		264,450.25			04-Oct-2005		8.850%		DC - 70.00%		Paid Off - 360		01-Dec-2004

1924895 2			190,000.00		188,206.00			12-Oct-2005		6.400%		CA - 50.26%		Paid Off - 360		01-Dec-2004

1925733 2			338,310.00		335,993.81			05-Oct-2005		8.050%		NJ - 90.00%		Paid Off - 360		01-Dec-2004

1925883 1			223,000.00		221,008.60			07-Oct-2005		6.750%		CA - 64.64%		Paid Off - 360		01-Dec-2004

1926164 1			197,000.00		195,451.23			13-Oct-2005		7.350%		MD - 79.12%		Paid Off - 360		01-Dec-2004

1926363 1			228,700.00		226,436.05			06-Oct-2005		6.150%		CA - 73.77%		Paid Off - 360		01-Dec-2004

1926463 2			266,000.00		263,229.07			23-Sep-2005		6.990%		CA - 84.44%		Paid Off - 360		01-Dec-2004

1928580 1			188,000.00		186,043.28			21-Sep-2005		5.975%		NV - 93.07%		Paid Off - 360		01-Dec-2004

1930049 2			147,600.00		146,577.32			22-Sep-2005		7.990%		MI - 90.00%		Paid Off - 360		01-Dec-2004

1930794 1			260,000.00		257,347.60			30-Sep-2005		5.990%		NY - 86.67%		Paid Off - 360		01-Dec-2004

1932258 2			541,500.00		538,180.77			27-Sep-2005		8.600%		CA - 95.00%		Paid Off - 360		01-Dec-2004

1933569 1			125,000.00		124,133.89			30-Sep-2005		7.990%		OR - 67.57%		Paid Off - 360		01-Dec-2004

1933776 1			297,000.00		294,248.59			23-Sep-2005		6.500%		HI - 90.00%		Paid Off - 360		01-Dec-2004

1934711 2			177,000.00		175,214.52			21-Sep-2005		6.050%		MN - 75.00%		Paid Off - 360		01-Dec-2004

1934801 2			137,150.00		136,332.88			27-Sep-2005		9.100%		IL - 65.00%		Paid Off - 360		01-Dec-2004

1934845 2			104,000.00		103,061.33			13-Oct-2005		6.650%		CA - 78.79%		Paid Off - 360		01-Dec-2004

1935290 2			150,000.00		148,865.00			26-Sep-2005		6.990%		MA - 74.63%		Paid Off - 360		01-Jan-2005

1935980 2			146,250.00		97,820.65			04-Oct-2005		8.325%		MN - 75.00%		Paid Off - 360		01-Dec-2004

1936202 2			162,000.00		158,871.60			03-Oct-2005		7.350%		CA - 67.50%		Paid Off - 240		01-Dec-2004

1936344 2			157,250.00		155,834.43			03-Oct-2005		6.650%		NV - 85.00%		Paid Off - 360		01-Dec-2004

1936486 2			163,200.00		161,578.52			03-Oct-2005		6.450%		CO - 84.78%		Paid Off - 360		01-Dec-2004

1936802 2			376,000.00		376,000.00			23-Sep-2005		5.990%		CA - 80.00%		Paid Off - 360		01-Dec-2004

1937662 2			58,500.00		58,053.34			19-Sep-2005		7.500%		FL - 90.00%		Paid Off - 360		01-Dec-2004

1938190 1			127,500.00		126,600.62			30-Sep-2005		7.900%		CA - 85.00%		Paid Off - 360		01-Dec-2004



Page 25 of 32
Morgan Stanley ABS Capital I Inc. 2005-NC1

Mortgage Pass-Through Certificates

2005-NC1

October 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

1938480 2			71,250.00		70,721.90			06-Oct-2005		7.650%		MI - 95.00%		Paid Off - 360		01-Dec-2004


1938563 1			144,415.00		142,407.27			29-Sep-2005		5.750%		CA - 85.00%		Paid Off - 360		01-Dec-2004

1938828 1			187,000.00		185,113.72			04-Oct-2005		6.050%		NV - 85.00%		Paid Off - 360		01-Dec-2004

1938916 2			139,200.00		137,910.46			20-Sep-2005		6.500%		OR - 80.00%		Paid Off - 360		01-Dec-2004

1939380 2			99,450.00		98,660.41			12-Oct-2005		7.300%		IL - 90.00%		Paid Off - 360		01-Dec-2004

1939387 2			130,500.00		129,217.80			06-Oct-2005		6.190%		IL - 90.00%		Paid Off - 360		01-Dec-2004

1939873 2			180,900.00		179,885.24			22-Sep-2005		8.500%		RI - 90.00%		Paid Off - 360		01-Jan-2005

1940141 2			208,000.00		206,091.41			21-Sep-2005		6.550%		CA - 80.00%		Paid Off - 360		01-Dec-2004

1942203 2			144,000.00		142,869.40			26-Sep-2005		7.850%		FL - 90.00%		Paid Off - 360		01-Dec-2004

1942408 2			264,000.00		264,000.00			26-Sep-2005		6.100%		WA - 80.00%		Paid Off - 360		01-Dec-2004

1943447 2			230,000.00		227,994.48			26-Sep-2005		6.250%		HI - 77.97%		Paid Off - 360		01-Jan-2005

1943835 1			356,250.00		352,886.37			13-Oct-2005		6.400%		MD - 76.53%		Paid Off - 360		01-Dec-2004

1947602 2			180,000.00		178,627.42			06-Oct-2005		6.950%		WA - 90.00%		Paid Off - 360		01-Jan-2005

1950544 1			143,000.00		141,712.00			13-Oct-2005		6.650%		CA - 89.38%		Paid Off - 360		01-Jan-2005

1956579 2			382,500.00		370,428.19			30-Sep-2005		6.500%		CA - 90.00%		Paid Off - 180		01-Jan-2005

1961640 2			399,600.00		395,973.16			22-Sep-2005		6.050%		CA - 90.00%		Paid Off - 360		01-Jan-2005

1000033403 1			227,700.00		226,246.70			03-Oct-2005		8.400%		FL - 90.00%		Paid Off - 360		01-Dec-2004

1000034689 1			221,000.00		218,910.76			13-Oct-2005		6.990%		CA - 85.00%		Paid Off - 360		01-Nov-2004

1000038453 1			122,750.00		121,683.11			27-Sep-2005		7.800%		FL - 90.63%		Paid Off - 360		01-Oct-2004

1000045748 1			204,000.00		202,502.87			05-Oct-2005		7.700%		FL - 64.76%		Paid Off - 360		01-Dec-2004

1000049628 1			158,100.00		157,008.24			07-Oct-2005		8.500%		FL - 85.00%		Paid Off - 360		01-Nov-2004

1000049959 1			327,200.00		324,310.42			27-Sep-2005		6.750%		CA - 80.00%		Paid Off - 360		01-Dec-2004

1000055781 2			114,000.00		112,747.04			29-Sep-2005		6.700%		FL - 87.69%		Paid Off - 360		01-Nov-2004

1000055889 2			114,300.00		113,532.92			27-Sep-2005		8.150%		FL - 90.00%		Paid Off - 360		01-Dec-2004

1000061186 1			94,900.00		94,020.81			13-Oct-2005		6.500%		FL - 76.53%		Paid Off - 360		01-Dec-2004

1000061444 1			284,000.00		284,000.00			19-Sep-2005		7.350%		FL - 80.00%		Paid Off - 360		01-Dec-2004

1000074430 2			520,000.00		515,066.99			19-Sep-2005		6.375%		CA - 76.61%		Paid Off - 360		01-Dec-2004

1000074476 2			115,650.00		114,704.60			22-Sep-2005		7.150%		AL - 90.00%		Paid Off - 360		01-Dec-2004

1000083224 2			119,000.00		118,019.26			05-Oct-2005		7.500%		FL - 85.00%		Paid Off - 360		01-Dec-2004

1000089898 2			209,000.00		207,275.53			29-Sep-2005		6.850%		MN - 94.14%		Paid Off - 360		01-Jan-2005

1000090626 1			175,000.00		172,024.70			12-Oct-2005		7.950%		FL - 100.00%		Paid Off - 360		01-Dec-2004

1000095774 2			234,000.00		231,933.52			03-Oct-2005		6.750%		WA - 90.00%		Paid Off - 360		01-Dec-2004

1000099609 2			80,000.00		79,383.96			12-Oct-2005		6.900%		IN - 82.56%		Paid Off - 360		01-Jan-2005

1000114183 2			75,050.00		74,449.37			20-Sep-2005		6.700%		MI - 57.73%		Paid Off - 360		01-Jan-2005

1000127295 2			114,750.00		113,866.43			06-Oct-2005		6.900%		IN - 85.00%		Paid Off - 360		01-Jan-2005

1000129168 2			105,000.00		104,328.93			11-Oct-2005		7.850%		OH - 100.00%		Paid Off - 360		01-Jan-2005

1000139148 1			221,000.00		219,559.28			20-Sep-2005		7.750%		CA - 85.00%		Paid Off - 360		01-Jan-2005



TOTAL			55,043,654.00		54,560,578.86



Page 26 of 32
Morgan Stanley ABS Capital I Inc. 2005-NC1

Mortgage Pass-Through Certificates

2005-NC1

October 25, 2005 Distribution
Realized Loss Report

COLLATERAL REALIZED LOSSES



											Group 2		Group 1		Total


Current




Number of Loans Liquidated										1		0		1
Collateral Principal Realized Loss/(Gain) Amount										30,245.96		0.00		30,245.96
Collateral Interest Realized Loss/(Gain) Amount										0.00		0.00		0.00
Net Liquidation Proceeds										40,695.74		0.00		40,695.74

Cumulative




Number of Loans Liquidated										1		0		1
Collateral Realized Loss/(Gain) Amount										30,245.96		0.00		30,245.96
Net Liquidation Proceeds										40,695.74		0.00		40,695.74










Page 27 of 32
Morgan Stanley ABS Capital I Inc. 2005-NC1

Mortgage Pass-Through Certificates

2005-NC1

October 25, 2005 Distribution


DEFAULT SPEEDS



											Group 2		Group 1		Total



MDR										0.01%		0.00%		0.01%
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										0.12%		0.00%		0.07%
3 Months Avg CDR										0.04%		0.00%		0.02%
12 Months Avg CDR										0.01%		0.00%		0.01%
Avg CDR Since Cut-off										0.01%		0.00%		0.01%


SDA										0.54%		0.00%		0.33%
3 Months Avg SDA Approximation										0.20%		0.00%		0.12%
12 Months Avg SDA Approximation										0.10%		0.00%		0.06%
Avg SDA Since Cut-off Approximation										0.10%		0.00%		0.06%


Loss Severity Approximation for Current Period										42.63%		0.00%		42.63%
3 Months Avg Loss Severity Approximation										14.21%		0.00%		14.21%
12 Months Avg Loss Severity Approximation										5.33%		0.00%		5.33%
Avg Loss Severity Approximation Since Cut-off										5.33%		0.00%		5.33%












Page 28 of 32
Morgan Stanley ABS Capital I Inc. 2005-NC1

Mortgage Pass-Through Certificates

2005-NC1

October 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 29 of 32
Morgan Stanley ABS Capital I Inc. 2005-NC1

Mortgage Pass-Through Certificates

2005-NC1

October 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)

1948201 2
			6.800%		TN - 85.00%		240		70,941.70				30,245.96		0.00



TOTAL									70,941.70			30,245.96		0.00



Page 30 of 32
Morgan Stanley ABS Capital I Inc. 2005-NC1

Mortgage Pass-Through Certificates

2005-NC1

October 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								3.06987700
						Class A-2A Accelerated Event Occured (0 = No, 1=Yes)								0
						Ending Balance								1,106,037,322.59
						Prior period Senior Enhancement Percentage								23.6800%
						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 31 of 32
Morgan Stanley ABS Capital I Inc. 2005-NC1

Mortgage Pass-Through Certificates

2005-NC1

October 25, 2005 Distribution
Other Related Information
ADDITIONAL INFORMATION

										Group 2		Group 1		Total
Current Scheduled Payments										4,798,115.60		3,067,733.33		7,865,848.93
Current Scheduled Payments 1 Month Prior										5,033,824.84		3,275,438.04		8,309,262.88
Current Scheduled Payments 2 Month Prior										5,247,524.34		3,418,111.66		8,665,636.00
Current Scheduled Payments 3 Month Prior										5,451,566.02		3,577,451.52		9,029,017.55
Current Scheduled Payments 4 Month Prior										5,629,600.11		3,746,782.66		9,376,382.77
Current Scheduled Payments 5 Month Prior										5,789,729.71		3,874,622.44		9,664,352.15
Current Scheduled Payments 6 Month Prior										5,984,006.82		4,008,845.30		9,992,852.13
Current Scheduled Payments 7 Month Prior										6,091,852.63		4,076,576.66		10,168,429.29
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										228,349.64		98,902.22		327,251.86
Sched. Pmts - 60+Day Delinquent Loans, 1 Month Prior										197,671.27		93,353.38		291,024.65
Sched. Pmts - 60+Day Delinquent Loans, 2 Month Prior										158,306.09		86,202.99		244,509.09
Sched. Pmts - 60+Day Delinquent Loans, 3 Month Prior										135,694.00		74,629.23		210,323.23
Sched. Pmts - 60+Day Delinquent Loans, 4 Month Prior										104,915.42		60,343.37		165,258.78
Sched. Pmts - 60+Day Delinquent Loans, 5 Month Prior										67,113.25		40,922.89		108,036.14
Sched. Pmts - 60+Day Delinquent Loans, 6 Month Prior										43,014.68		19,054.49		62,069.17
Sched. Pmts - 60+Day Delinquent Loans, 7 Month Prior										1,286.06		1,923.17		3,209.24
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




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Morgan Stanley ABS Capital I Inc. Trust 2005-NC1 8-K