                                    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): December 27, 2005
                             (Date of earliest event reported)


                                MORGAN STANLEY ABS CAPITAL I INC.
             (as Depositor under the Pooling and Servicing Agreement, dated as
                  August 1, 2005, providing for the issuance of Morgan Stanley
              Home Equity Loan Trust, Mortgage Pass-Through Certificates
                                      Series 2005-3)
                      (Exact name of registrant as specified in charter)


                                         DELAWARE
                     (State or Other Jurisdiction of Incorporation)

               333-121914-08                        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 2005-3, which was made on
     August 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
     December 27, 2005.


                                  SIGNATURES


    Pursuant to the requirements of the Securities Exchange Act of 1934,
    the Registrant has duly caused this report to be signed on behalf of
    the Registrant by the undersigned thereunto duly authorized.



                                   DEUTSCHE BANK NATIONAL TRUST COMPANY, IN
                                   ITS CAPACITY AS TRUSTEE UNDER THE POOLING
                                   AND SERVICING AGREEMENT ON BEHALF OF
                                   MORGAN STANLEY ABS CAPITAL I INC.,
                                   REGISTRANT



          Date:  Dec 29, 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
              December 27, 2005.



Morgan Stanley Home Equity Loan Trust 2005-3

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2005-3

December 27, 2005 Distribution

				External Parties						Table of Contents

													Page
				Seller									Page
				Seller						1. Certificate Payment Report					2
				Morgan Stanley						1. Certificate Payment Report					2
				Morgan Stanley						2. Collection Account Report					4
										2. Collection Account Report					4
										3. Credit Enhancement Report					6
										4. Collateral Report					7
				Certificate Insurer(s)						5. Delinquency Report					10
				Certificate Insurer(s)						5. Delinquency Report					10
										6. REO Report					11

										7. Foreclosure Report					12
										8. Prepayment Report					13
										9. Prepayment Detail Report					16
										9. Prepayment Detail Report					16
										10. Realized Loss Report					18
										11. Realized Loss Detail Report					21
				Servicer(s)						11. Realized Loss Detail Report					21
				Servicer(s)						12. Triggers and Adj. Cert. Report					22
				Chase Securities, Inc						12. Triggers and Adj. Cert. Report					22
				Chase Securities, Inc						13. Other Related Information					23
				HomeQ Servicing Corp.						13. Other Related Information					23
				HomeQ Servicing Corp.


				Underwriter(s)
				Morgan Stanley
				Blaylock & Partners, L.P.
				Williams Capital Group L.P

										Total Number of Pages					23
										Total Number of Pages

				Dates						Contacts

				Cut-Off Date:			August 01, 2005			Marion Hogan
				Close Date:			August 31, 2005			Administrator
				First Distribution Date:			September 26, 2005			(714) 247-6282
										marion.c.hogan@db.com
										marion.c.hogan@db.com
										Address:
										1761 East St. Andrew Place, Santa Ana, CA 92705
				Distribution Date:			December 27, 2005
										Factor Information:			(800) 735-7777
				Record Date:			November 30, 2005			Factor Information:			(800) 735-7777
										Main Phone Number:			(714) 247-6000

							December 23, 2005
							December 23, 2005

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






Page 1 of 23
Morgan Stanley Home Equity Loan Trust 2005-3

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2005-3

December 27, 2005 Distribution
Certificate Payment Report
Current Period Distribution - REMIC II
					Prior												Current
	Class		Original		Principal						Total		Realized		Deferred		Principal
	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-1	STEP, FLT	$	379,500,000.00		353,159,598.77		1,350,246.87		11,786,944.88		13,137,191.75		0.00		0.00		341,372,653.89
A-1	STEP, FLT	$	379,500,000.00		353,159,598.77		1,350,246.87		11,786,944.88		13,137,191.75		0.00		0.00		341,372,653.89
A-2	STEP, FLT	$	125,707,000.00		125,707,000.00		495,145.91		0.00		495,145.91		0.00		0.00		125,707,000.00
A-3	STEP, FLT	$	97,200,000.00		97,200,000.00		394,956.00		0.00		394,956.00		0.00		0.00		97,200,000.00
M-1	SUB, STEP	$	29,074,000.00		29,074,000.00		119,946.40		0.00		119,946.40		0.00		0.00		29,074,000.00
M-2	SUB, STEP	$	26,747,000.00		26,747,000.00		110,821.74		0.00		110,821.74		0.00		0.00		26,747,000.00
M-3	SUB, STEP	$	18,220,000.00		18,220,000.00		75,815.44		0.00		75,815.44		0.00		0.00		18,220,000.00
M-4	SUB, STEP	$	13,180,000.00		13,180,000.00		56,015.00		0.00		56,015.00		0.00		0.00		13,180,000.00
M-5	SUB, STEP	$	13,180,000.00		13,180,000.00		56,600.78		0.00		56,600.78		0.00		0.00		13,180,000.00
M-6	SUB, STEP	$	12,017,000.00		12,017,000.00		52,140.43		0.00		52,140.43		0.00		0.00		12,017,000.00
B-1	SUB, STEP	$	12,017,000.00		12,017,000.00		57,054.05		0.00		57,054.05		0.00		0.00		12,017,000.00
B-2	SUB, STEP	$	9,692,000.00		9,692,000.00		47,307.73		0.00		47,307.73		0.00		0.00		9,692,000.00
B-3	SUB, STEP	$	10,466,000.00		10,466,000.00		55,272.11		0.00		55,272.11		0.00		0.00		10,466,000.00
X	IO, CSTR	$	28,298,981.81		28,298,412.84		1,407,152.30		0.00		1,407,152.30		0.00		0.00		28,298,412.84
P		$	0.00		0.00		298,214.40		0.00		298,214.40		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			775,298,981.81		748,958,011.61		4,576,689.16		11,786,944.88		16,363,634.04		0.00		0.00		737,171,066.73
Total




Interest Accrual Detail Current Period Factor Information per $1,000 of Original Face-
									Orig. Principal		Prior							Current
									Orig. Principal		Prior							Current
	Period		Period						(with Notional)		Principal						Total	Principal
	Period		Period
Class	Starting		Ending		Method		Cusip		Balance		Balance		Interest		Principal		Distribution	Balance

									(1)		(1)		(2)		(3)		(4)=(2)+(3)	(5)
A-1	11/25/05		12/26/05		A-Act/360		61744CTU0		379,500,000.00		930.591828		3.557963		31.059143		34.617106	899.532685
A-2	11/25/05		12/26/05		A-Act/360		61744CTV8		125,707,000.00		1,000.000000		3.938889		0.000000		3.938889	1,000.000000
A-3	11/25/05		12/26/05		A-Act/360		61744CTW6		97,200,000.00		1,000.000000		4.063333		0.000000		4.063333	1,000.000000
M-1	11/25/05		12/26/05		A-Act/360		61744CTX4		29,074,000.00		1,000.000000		4.125555		0.000000		4.125555	1,000.000000
M-2	11/25/05		12/26/05		A-Act/360		61744CTY2		26,747,000.00		1,000.000000		4.143333		0.000000		4.143333	1,000.000000
M-3	11/25/05		12/26/05		A-Act/360		61744CTZ9		18,220,000.00		1,000.000000		4.161111		0.000000		4.161111	1,000.000000
M-4	11/25/05		12/26/05		A-Act/360		61744CUA2		13,180,000.00		1,000.000000		4.250000		0.000000		4.250000	1,000.000000
M-5	11/25/05		12/26/05		A-Act/360		61744CUB0		13,180,000.00		1,000.000000		4.294445		0.000000		4.294445	1,000.000000
M-6	11/25/05		12/26/05		A-Act/360		61744CUC8		12,017,000.00		1,000.000000		4.338889		0.000000		4.338889	1,000.000000
B-1	11/25/05		12/26/05		A-Act/360		61744CUD6		12,017,000.00		1,000.000000		4.747778		0.000000		4.747778	1,000.000000
B-2	11/25/05		12/26/05		A-Act/360		61744CUE4		9,692,000.00		1,000.000000		4.881111		0.000000		4.881111	1,000.000000
B-3	11/25/05		12/26/05		A-Act/360		61744CUF1		10,466,000.00		1,000.000000		5.281111		0.000000		5.281111	1,000.000000
X	11/01/05		11/30/05		A-30/360		MS05X3101		28,298,981.81		999.979894		49.724485		0.000000		49.724485	999.979894
P	11/01/05		11/30/05		A-30/360		MS05X3102		0.00		0.000000		0.000000		0.000000		0.000000	0.000000
R	11/01/05		11/30/05		A-30/360		MS05X3103		0.00		0.000000		0.000000		0.000000		0.000000	0.000000




Page 2 of 23
Morgan Stanley Home Equity Loan Trust 2005-3

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2005-3

December 27, 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-1	379,500,000.00		4,863,733.82		36,598,145.47		1,529,200.64		38,127,346.11		42,991,079.93		0.00		0.00		341,372,653.89
A-2	125,707,000.00		1,725,302.39		0.00		0.00		0.00		1,725,302.39		0.00		0.00		125,707,000.00
A-3	97,200,000.00		1,378,653.75		0.00		0.00		0.00		1,378,653.75		0.00		0.00		97,200,000.00
M-1	29,074,000.00		419,047.19		0.00		0.00		0.00		419,047.19		0.00		0.00		29,074,000.00
M-2	26,747,000.00		387,261.28		0.00		0.00		0.00		387,261.28		0.00		0.00		26,747,000.00
M-3	18,220,000.00		264,995.98		0.00		0.00		0.00		264,995.98		0.00		0.00		18,220,000.00
M-4	13,180,000.00		196,013.14		0.00		0.00		0.00		196,013.14		0.00		0.00		13,180,000.00
M-5	13,180,000.00		198,173.20		0.00		0.00		0.00		198,173.20		0.00		0.00		13,180,000.00
M-6	12,017,000.00		182,655.90		0.00		0.00		0.00		182,655.90		0.00		0.00		12,017,000.00
B-1	12,017,000.00		200,774.87		0.00		0.00		0.00		200,774.87		0.00		0.00		12,017,000.00
B-2	9,692,000.00		166,695.00		0.00		0.00		0.00		166,695.00		0.00		0.00		9,692,000.00
B-3	10,466,000.00		195,444.56		0.00		0.00		0.00		195,444.56		0.00		0.00		10,466,000.00
X	28,298,981.81		6,180,720.29		531.78		37.19		568.97		6,181,289.26		0.00		0.00		28,298,412.84
P	0.00		895,819.57		0.00		0.00		0.00		895,819.57		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	775,298,981.81		17,255,290.94		36,598,677.25		1,529,237.83		38,127,915.08		55,383,206.02		0.00		0.00		737,171,066.73


Interest Detail - REMIC II
	Pass		Prior Principal				Non-		Prior		Unscheduled				Paid or		Current
	Pass		Prior Principal				Non-		Prior		Unscheduled				Paid or

	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-1	4.30125%		353,159,598.77		1,350,246.87		0.00		0.00		0.00		1,350,246.87		1,350,246.87		0.00
A-2	4.43125%		125,707,000.00		495,145.91		0.00		0.00		0.00		495,145.91		495,145.91		0.00
A-3	4.57125%		97,200,000.00		394,956.00		0.00		0.00		0.00		394,956.00		394,956.00		0.00
M-1	4.64125%		29,074,000.00		119,946.40		0.00		0.00		0.00		119,946.40		119,946.40		0.00
M-2	4.66125%		26,747,000.00		110,821.74		0.00		0.00		0.00		110,821.74		110,821.74		0.00
M-3	4.68125%		18,220,000.00		75,815.44		0.00		0.00		0.00		75,815.44		75,815.44		0.00
M-4	4.78125%		13,180,000.00		56,015.00		0.00		0.00		0.00		56,015.00		56,015.00		0.00
M-5	4.83125%		13,180,000.00		56,600.78		0.00		0.00		0.00		56,600.78		56,600.78		0.00
M-6	4.88125%		12,017,000.00		52,140.43		0.00		0.00		0.00		52,140.43		52,140.43		0.00
B-1	5.34125%		12,017,000.00		57,054.05		0.00		0.00		0.00		57,054.05		57,054.05		0.00
B-2	5.49125%		9,692,000.00		47,307.73		0.00		0.00		0.00		47,307.73		47,307.73		0.00
B-3	5.94125%		10,466,000.00		55,272.11		0.00		0.00		0.00		55,272.11		55,272.11		0.00
X	59.67058%		28,298,412.84		0.00		0.00		0.00		0.00		0.00		1,407,152.30		0.00
P	0.00000%		0.00		0.00		0.00		0.00		0.00		0.00		298,214.40		0.00
R	0.00000%		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00


Total			748,958,011.61		2,871,322.46		0.00		0.00		0.00		2,871,322.46		4,576,689.16		0.00



Page 3 of 23
Morgan Stanley Home Equity Loan Trust 2005-3

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2005-3

December 27, 2005 Distribution
Collection Account Report
SUMMARY
SUMMARY
														Total
Principal Collections														11,786,944.88
Principal Withrawals														0.00
Principal Other Accounts														0.00
TOTAL NET PRINCIPAL														11,786,944.88
Interest Collections														4,302,784.52
Interest Withdrawals														-1,291.56
Interest Other Accounts														325,879.77
Interest Fees														-50,683.57
TOTAL NET INTEREST														4,604,354.52
TOTAL AVAILABLE FUNDS FOR DISTRIBUTION														16,363,634.04



PRINCIPAL - COLLECTIONS
PRINCIPAL - COLLECTIONS
															Total
Scheduled Principal Received															377,495.58
Prepayments In Full															11,391,010.44
Curtailments															18,438.86
Liquidations															0.00
Insurance Principal															0.00
Repurchased Principal Amounts															0.00
Other Principal															0.00
Total Realized Loss Of Principal															-0.00
Delinquent Principal															-318,148.03
Advanced Principal															318,148.03
TOTAL PRINCIPAL COLLECTED															11,786,944.88


PRINCIPAL - WITHDRAWALS

SPACE INTENTIONALLY LEFT BLANK



PRINCIPAL - OTHER ACCOUNTS
PRINCIPAL - OTHER ACCOUNTS
														Total
Closing Deposit														0.00
TOTAL OTHER ACCOUNTS PRINCIPAL														0.00





Page 4 of 23
Morgan Stanley Home Equity Loan Trust 2005-3

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2005-3

December 27, 2005 Distribution

INTEREST - COLLECTIONS
INTEREST - COLLECTIONS
														Total
Scheduled Interest														4,568,014.80
Liquidation Interest														0.00
Repurchased Interest														0.00
Insurance Interest														0.00
Other Interest														0.00
Relief Act Interest Shortfalls														-0.00
Prepayment Interest Shortfalls														-20,160.77
Compensating Interest														20,160.77
Delinquent Interest														-3,890,014.70
Interest Advanced														3,624,784.41
TOTAL INTEREST COLLECTED														4,302,784.52


INTEREST - WITHDRAWALS
INTEREST - WITHDRAWALS
														Total
Nonrecoverable Advances														1,291.56
TOTAL INTEREST WITHDRAWALS														1,291.56



INTEREST - OTHER ACCOUNTS
INTEREST - OTHER ACCOUNTS
														Total
Prepayment Charges														298,214.40
Interest Rate Swap Payment														0.00
Interest Rate Swap Receipt														27,665.37
Interest Rate Swap Termination Payment


TOTAL INTEREST OTHER ACCOUNTS														325,879.77



INTEREST - FEES
INTEREST - FEES
														Total
Current Servicing Fees														46,835.56
Current Trustee Fees														3,619.96
Custodian Fees														228.05
TOTAL INTEREST OTHER FEES														50,683.57




Page 5 of 23
Morgan Stanley Home Equity Loan Trust 2005-3

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2005-3

December 27, 2005 Distribution
Credit Enhancement Report
ACCOUNTS
ACCOUNTS
														Total
Beginning Excess Reserve Fund Account Balance														748,958,011.61
Basis Risk Shortfall Carryforward Deposit
Basis Risk Shortfall Carryforward Payment
Ending Excess Reserve Fund Account Balance														737,171,066.73



INSURANCE

SPACE INTENTIONALLY LEFT BLANK



STRUCTURAL FEATURES
STRUCTURAL FEATURES
														Total
Specified Subordinated Target Amount														28,298,412.84
Subordinated Amount														28,298,412.84
Specified Subordinated Increase Amount														0.00
Subordinated Deficiency Amount														0.00
Subordinated Release Amount														0.00




Page 6 of 23
Morgan Stanley Home Equity Loan Trust 2005-3

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2005-3

December 27, 2005 Distribution
Collateral Report


COLLATERAL



															Total



Loan Count:


Original														5,206
Prior														5,064
Prefunding														0
Scheduled Paid Offs														-0
Full Voluntary Prepayments														-66
Repurchases														-0
Liquidations														-0
Current														4,998
Principal Balance:


Original														775,298,690.57
Prior														748,958,011.61
Prefunding														775,298,982.00
Scheduled Principal														-377,495.58
Partial Prepayments														-18,438.86
Full Voluntary Prepayments														-11,391,010.44
Repurchases														-0.00
Liquidations														-0.00
Current														737,171,066.73





PREFUNDING
PREFUNDING
														Total
Closing Date Deposit Amount														0.00
Total Original Principal Balance														775,298,982.00






Page 7 of 23
Morgan Stanley Home Equity Loan Trust 2005-3

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2005-3

December 27, 2005 Distribution

CHARACTERISTICS
CHARACTERISTICS
														Total
Weighted Average Coupon Original														7.31201%
Weighted Average Coupon Prior														7.31760%
Weighted Average Coupon Current														7.31899%
Weighted Average Months to Maturity Original														346
Weighted Average Months to Maturity Prior														344
Weighted Average Months to Maturity Current														343
Weighted Avg Remaining Amortization Term Original														346
Weighted Avg Remaining Amortization Term Prior														344
Weighted Avg Remaining Amortization Term Current														353
Weighted Average Seasoning Original														3.88
Weighted Average Seasoning Prior														5.88
Weighted Average Seasoning Current														6.88









Page 8 of 23
Morgan Stanley Home Equity Loan Trust 2005-3

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2005-3

December 27, 2005 Distribution

ARM CHARACTERISTICS
ARM CHARACTERISTICS
														Total
Weighted Average Margin Original														6.24071%
Weighted Average Margin Prior														6.24174%
Weighted Average Margin Current														6.23883%
Weighted Average Max Rate Original														13.59351%
Weighted Average Max Rate Prior														13.59624%
Weighted Average Max Rate Current														13.59638%
Weighted Average Min Rate Original														7.17170%
Weighted Average Min Rate Prior														7.17198%
Weighted Average Min Rate Current														7.17071%
Weighted Average Cap Up Original														1.14486%
Weighted Average Cap Up Prior														1.14520%
Weighted Average Cap Up Current														1.14608%
Weighted Average Cap Down Original														1.14486%
Weighted Average Cap Down Prior														1.14520%
Weighted Average Cap Down Current														1.14608%




SERVICING FEES & ADVANCES

															Total




Current Servicing Fees														46,835.56
Delinquent Servicing Fees														265,230.28
TOTAL SERVICING FEES														312,065.85


Compensating Interest														-20,160.77
Delinquent Servicing Fees														-265,230.28
COLLECTED SERVICING FEES														-26,674.80


Aggregate Advances with respect to this Distribution														3,942,932.45





ADDITIONAL COLLATERAL INFORMATION
														Total
Net Prepayment Interest Shortfall														0.00
Libor For Current Period														4.191250%
Libor For Next Period														4.378750%




Page 9 of 23
Morgan Stanley Home Equity Loan Trust 2005-3

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2005-3

December 27, 2005 Distribution
Delinquency Report

	TOTAL
					< 1 PAYMENT		1 PAYMENT		2 PAYMENTS		3+ PAYMENTS		TOTAL
	DELINQUENT		Balance				12,755,032.16		4,935,143.58		1,457,084.63		19,147,260.37
			% Balance				1.73%		0.67%		0.20%		2.60%
			# Loans				94		40		13		147
			% # Loans				1.88%		0.80%		0.26%		2.94%
	FORECLOSURE		Balance		0.00		0.00		1,726,051.25		4,554,847.94		6,280,899.19
			% Balance		0.00%		0.00%		0.23%		0.62%		0.85%
			# Loans		0		0		11		30		41
			% # Loans		0.00%		0.00%		0.22%		0.60%		0.82%
	BANKRUPTCY		Balance		2,915,212.73		224,631.16		218,220.17		581,502.48		3,939,566.54
			% Balance		0.40%		0.03%		0.03%		0.08%		0.53%
			# Loans		32		2		2		4		40
			% # Loans		0.64%		0.04%		0.04%		0.08%		0.80%
	REO		Balance		0.00		0.00		0.00		346,981.53		346,981.53
			% Balance		0.00%		0.00%		0.00%		0.05%		0.05%
			# Loans		0		0		0		3		3
			% # Loans		0.00%		0.00%		0.00%		0.06%		0.06%
	TOTAL		Balance		2,915,212.73		12,979,663.32		6,879,415.00		6,940,416.58		29,714,707.63
			% Balance		0.40%		1.76%		0.93%		0.94%		4.03%
			# Loans		32		96		53		50		231
			% # Loans		0.64%		1.92%		1.06%		1.00%		4.62%








Page 10 of 23
Morgan Stanley Home Equity Loan Trust 2005-3

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2005-3

December 27, 2005 Distribution
REO Report
Loan Number			Original		Stated				Current		State &

														First
&			Principal		Principal		Paid to		Note		LTV at		Original		Payment

Loan Group			Balance		Balance		Date		Rate		Origination		Term		Date
323523944 1
323523944 1			195,000.00		195,000.00		01-May-2005		9.374%		VA - 100.00%		360		01-May-2005

323526947 1			57,500.00		57,279.15		01-May-2005		9.749%		MI - 99.81%		360		01-May-2005
323527721 1			95,200.00		94,702.38		01-May-2005		8.249%		MO - 79.79%		360		01-May-2005


TOTAL			347,700.00		346,981.53


Page 11 of 23
Morgan Stanley Home Equity Loan Trust 2005-3

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2005-3

December 27, 2005 Distribution
Foreclosure Report
Loan Number			Original		Stated				Current		State &

														First
&			Principal		Principal		Paid to		Note		LTV at		Original		Payment

Loan Group			Balance		Balance		Date		Rate		Origination		Term		Date
20032520 1
20032520 1			168,750.00		168,749.25		01-Jun-2005		6.800%		RI - 73.37%		360		01-May-2005

20334579 1			144,720.00		143,873.32		01-Jun-2005		6.990%		PA - 79.80%		360		01-Jun-2005
20334587 1			36,180.00		36,086.96		01-Jun-2005		10.990%		PA - 19.98%		180		01-Jun-2005
20337648 1			177,000.00		175,861.56		01-Aug-2005		6.500%		NH - 85.69%		360		01-Jun-2005
20337796 1			230,400.00		228,952.15		01-Jun-2005		6.625%		CT - 79.79%		360		01-Jun-2005
20337937 1			183,920.00		182,679.15		01-Jun-2005		6.250%		RI - 79.77%		360		01-Jun-2005
20338133 1			82,400.00		81,941.83		01-Jul-2005		7.250%		KY - 79.81%		360		01-Jun-2005
20338695 1			44,000.00		43,303.04		01-Jul-2005		10.990%		OH - 19.87%		180		01-Jun-2005
323066035 1			91,000.00		90,706.94		01-Jun-2005		12.125%		MA - 19.96%		180		01-Feb-2005
323199000 1			104,000.00		103,636.47		01-Jun-2005		11.749%		IL - 99.78%		360		01-Feb-2005
323210096 1			84,000.00		83,803.79		01-Jun-2005		12.625%		GA - 19.97%		180		01-Apr-2005
323211821 1			296,000.00		296,000.00		01-Jul-2005		8.750%		MA - 80.00%		360		01-Apr-2005
323211946 1			111,200.00		110,084.29		01-May-2005		5.500%		OH - 79.56%		360		01-Apr-2005
323522557 1			65,640.00		65,305.53		01-May-2005		8.375%		UT - 79.80%		360		01-May-2005
323522821 1			108,000.00		107,447.47		01-Aug-2005		8.625%		FL - 89.76%		360		01-May-2005
323522987 1			110,000.00		109,332.42		01-Jul-2005		7.500%		FL - 99.70%		360		01-May-2005
323523696 1			235,400.00		235,400.00		01-Jun-2005		6.250%		CT - 80.00%		360		01-May-2005
323523878 1			74,570.00		74,117.50		01-Aug-2005		7.500%		AL - 94.71%		360		01-May-2005
323523910 1			112,720.00		111,926.39		01-May-2005		6.999%		NM - 79.71%		360		01-May-2005
323524744 1			107,600.00		107,129.53		01-May-2005		9.125%		OH - 79.83%		360		01-May-2005
323524793 1			179,920.00		178,955.86		01-Jun-2005		8.125%		NV - 79.79%		360		01-May-2005
323525220 1			52,000.00		51,741.61		01-May-2005		8.500%		OH - 79.80%		360		01-May-2005
323525238 1			31,500.00		31,326.88		01-May-2005		8.000%		KY - 74.80%		360		01-May-2005
323525576 1			111,000.00		110,489.06		01-Jul-2005		8.875%		MI - 99.77%		360		01-May-2005
323527408 1			71,200.00		70,818.44		01-Jun-2005		8.125%		GA - 79.79%		360		01-May-2005
323545590 1			200,900.00		200,070.14		01-Aug-2005		9.400%		CA - 69.86%		360		01-May-2005
323782292 1			162,000.00		161,326.31		01-Aug-2005		8.700%		CT - 89.84%		360		01-Jun-2005
323831057 1			70,400.00		70,126.24		01-Jul-2005		8.255%		IN - 79.90%		360		01-Jul-2005
323831610 1			142,400.00		141,654.65		01-Aug-2005		6.755%		NV - 79.86%		360		01-Jul-2005
323834390 1			47,900.00		47,748.11		01-Aug-2005		9.250%		IA - 99.90%		360		01-Jul-2005
323835603 1			52,400.00		52,238.09		01-Aug-2005		9.375%		MO - 79.92%		360		01-Jul-2005
323835744 1			64,000.00		63,805.35		01-Jun-2005		9.450%		MI - 99.90%		360		01-Jul-2005
323892315 1			480,000.00		476,236.18		01-Aug-2005		6.175%		CA - 79.69%		360		01-May-2005
323892448 1			360,000.00		358,747.29		01-Jul-2005		8.800%		CA - 89.90%		360		01-Jul-2005
323892950 1			361,000.00		361,000.00		01-Jul-2005		7.300%		CA - 95.00%		360		01-Jul-2005
323893081 1			225,000.00		224,515.37		01-Aug-2005		11.075%		MD - 74.95%		360		01-Jul-2005
323893602 1			440,000.00		437,604.04		01-Jul-2005		6.550%		CA - 79.86%		360		01-Jul-2005
323894097 1			302,400.00		301,508.22		01-Jul-2005		8.700%		VA - 89.95%		360		01-Aug-2005
323894279 1			114,000.00		113,699.91		01-Jul-2005		9.250%		MO - 99.95%		360		01-Aug-2005
323894899 1			207,032.00		206,113.98		01-Jul-2005		7.600%		CO - 89.87%		360		01-Jul-2005
323938159 1			65,000.00		64,835.87		01-Aug-2005		9.450%		MI - 99.95%		360		01-Aug-2005


TOTAL			6,307,552.00		6,280,899.19


Page 12 of 23
Morgan Stanley Home Equity Loan Trust 2005-3

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2005-3

December 27, 2005 Distribution
Prepayment Report

VOLUNTARY PREPAYMENTS
VOLUNTARY PREPAYMENTS

															Total




Current


Number of Paid in Full Loans														66
Number of Repurchased Loans														0
Total Number of Loans Prepaid in Full														66
Curtailments Amount														18,438.86
Paid in Full Balance														11,391,010.44
Repurchased Loans Balance														0.00
Total Prepayment Amount														11,409,449.30

Cumulative


Number of Paid in Full Loans														207
Number of Repurchased Loans														0
Total Number of Loans Prepaid in Full														207
Paid in Full Balance														36,433,523.80
Repurchased Loans Balance														0.00
Curtailments Amount														121,525.12
Total Prepayment Amount														36,555,048.92










Page 13 of 23
Morgan Stanley Home Equity Loan Trust 2005-3

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2005-3

December 27, 2005 Distribution

VOLUNTARY PREPAYMENTS RATES
VOLUNTARY PREPAYMENTS RATES

															Total



SMM														1.52%
3 Months Avg SMM														1.37%
12 Months Avg SMM														1.20%
Avg SMM Since Cut-off														1.20%


CPR														16.83%
3 Months Avg CPR														15.22%
12 Months Avg CPR														13.52%
Avg CPR Since Cut-off														13.52%


PSA														1,224.00%
3 Months Avg PSA Approximation														1,294.37%
12 Months Avg PSA Approximation														1,256.92%
Avg PSA Since Cut-off Approximation														1,256.91%










Page 14 of 23
Morgan Stanley Home Equity Loan Trust 2005-3

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2005-3

December 27, 2005 Distribution






PREPAYMENT CALCULATION METHODOLOGY

Single Monthly Mortality (SMM): (Voluntary partial and full prepayments + Repurchases + Liquidations )/(Beg Principal Balance - Sched Principal) Conditional Prepayment Rate (CPR): 1-((1-SMM)^12) PSA Standard Prepayment Model: CPR/(0.002min(30,WAS)) Average SMM over period between nth month and mth month (AvgSMMn,m): [(1-SMMn)(1-SMMn+1)...(1-SMMm)]^(1/months in period n,m) Conditional Prepayment Rate (CPR): 1-((1-SMM)^12) Average PSA Approximation over period between the nth month and mth month: AvgCPRn,m/(0.002*Avg WASn,m)) Average WASn,m: (min(30,WASn)+min(30,WASn+1)+...+min(30,WASm)/(number of months in the period n,m) Weighted Average Seasoning (WAS) Dates correspond to distribution dates. Note: Prepayment rates are calculated since deal issue date and include partial and full voluntary prepayments, liquidations, and repurchases.













Page 15 of 23
Morgan Stanley Home Equity Loan Trust 2005-3

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2005-3

December 27, 2005 Distribution
Prepayment Detail Report
Prepayment Detail Report - Mortgage Loans Prepaid in Full During Current Distribution
Loan Number			Original							Current		State &		Type Prepayment		First
Loan Number			Original							Current		State &		Type Prepayment

&		Loan	Principal		Prepayment			Prepayment		Note		LTV at		&		Payment

Loan Group		Status	Balance		Amount			Date		Rate		Origination		Original Term		Date

20030219 1			144,000.00		143,656.77			02-Nov-2005		7.770%		FL - 97.16%		Paid Off - 360		01-May-2005
20030219 1			144,000.00		143,656.77			02-Nov-2005		7.770%		FL - 97.16%		Paid Off - 360		01-May-2005
20030433 1			153,000.00		152,104.82			04-Nov-2005		6.990%		MD - 63.54%		Paid Off - 360		01-May-2005
20030532 1			171,000.00		170,117.80			02-Nov-2005		7.630%		FL - 89.74%		Paid Off - 360		01-May-2005
20030854 1			110,400.00		109,655.18			01-Nov-2005		6.250%		GA - 79.69%		Paid Off - 360		01-May-2005
20031852 1			341,250.00		341,250.00			07-Nov-2005		6.990%		CA - 75.00%		Paid Off - 360		01-May-2005
20031985 1			220,000.00		218,440.77			02-Nov-2005		5.990%		CA - 79.68%		Paid Off - 360		01-May-2005
20032272 1			178,500.00		178,500.00			02-Nov-2005		7.490%		CA - 70.00%		Paid Off - 360		01-May-2005
20032710 1			237,000.00		236,997.72			17-Nov-2005		5.990%		RI - 79.00%		Paid Off - 360		01-May-2005
20034013 1			65,000.00		64,855.15			30-Nov-2005		11.650%		WA - 19.97%		Paid Off - 180		01-May-2005
20034427 1			113,000.00		112,306.93			04-Nov-2005		6.750%		CA - 22.75%		Paid Off - 360		01-May-2005
20333506 1			103,700.00		103,171.31			07-Nov-2005		6.890%		MD - 84.79%		Paid Off - 360		01-Jun-2005
20334496 1			180,000.00		179,101.94			14-Nov-2005		6.990%		NY - 51.30%		Paid Off - 360		01-Jun-2005
20335501 1			36,418.00		36,338.12			09-Nov-2005		10.990%		GA - 19.98%		Paid Off - 180		01-Jun-2005
20336814 1			55,000.00		54,866.34			02-Nov-2005		11.250%		CA - 19.97%		Paid Off - 180		01-May-2005
20337507 1			214,000.00		212,789.10			22-Nov-2005		6.350%		CA - 69.51%		Paid Off - 360		01-Jun-2005
20340501 1			131,200.00		131,200.00			10-Nov-2005		7.150%		AZ - 80.00%		Paid Off - 360		01-Jun-2005
20340519 1			32,800.00		32,723.42			14-Nov-2005		10.700%		AZ - 19.98%		Paid Off - 180		01-Jun-2005
20340592 1			215,200.00		215,200.00			14-Nov-2005		6.500%		AZ - 80.00%		Paid Off - 360		01-Jun-2005
20340600 1			53,800.00		53,681.99			14-Nov-2005		10.990%		AZ - 19.98%		Paid Off - 180		01-Jun-2005
20487393 1			129,500.00		128,943.83			16-Nov-2005		6.820%		MD - 69.88%		Paid Off - 360		01-Jul-2005
20489027 1			107,040.00		106,500.84			30-Nov-2005		5.990%		AL - 79.84%		Paid Off - 360		01-Jul-2005
20489035 1			26,760.00		26,696.54			30-Nov-2005		9.750%		AL - 19.98%		Paid Off - 180		01-Jul-2005
20490009 1			180,000.00		179,275.27			15-Nov-2005		7.150%		VA - 48.57%		Paid Off - 360		01-Jul-2005
20494258 1			160,000.00		159,367.08			23-Nov-2005		7.240%		FL - 69.46%		Paid Off - 360		01-Jul-2005
20494365 1			126,400.00		125,959.10			30-Nov-2005		7.990%		FL - 79.89%		Paid Off - 360		01-Jul-2005
20550174 1			30,150.00		30,074.50			10-Nov-2005		9.490%		MN - 14.99%		Paid Off - 180		01-Jul-2005
20551586 1			149,400.00		148,396.72			08-Nov-2005		7.600%		AZ - 89.60%		Paid Off - 360		01-Mar-2005
20552360 1			137,750.00		137,335.34			02-Nov-2005		8.600%		OH - 94.89%		Paid Off - 360		01-Jul-2005
20553996 1			200,000.00		200,000.00			23-Nov-2005		6.950%		CA - 80.00%		Paid Off - 360		01-Jul-2005
20554903 1			228,000.00		227,045.31			16-Nov-2005		6.950%		IL - 80.10%		Paid Off - 360		01-Jul-2005
20555157 1			306,000.00		304,588.26			14-Nov-2005		6.450%		CA - 84.84%		Paid Off - 360		01-Jul-2005
20704250 1			45,400.00		45,163.92			29-Nov-2005		10.240%		IL - 19.97%		Paid Off - 240		01-Aug-2005
20704334 1			181,600.00		181,579.67			29-Nov-2005		7.800%		IL - 80.00%		Paid Off - 360		01-Aug-2005
20706107 1			121,500.00		121,150.16			02-Nov-2005		7.700%		IL - 89.94%		Paid Off - 360		01-Aug-2005
323255273 1			342,000.00		341,997.25			02-Dec-2005		6.400%		CA - 90.00%		Paid Off - 360		01-Apr-2005
323523217 1			180,000.00		180,000.00			22-Nov-2005		7.750%		FL - 90.00%		Paid Off - 360		01-May-2005
323523241 1			340,000.00		338,448.79			01-Dec-2005		8.249%		MD - 79.79%		Paid Off - 360		01-May-2005
323525329 1			151,900.00		151,224.71			25-Nov-2005		8.375%		AZ - 94.76%		Paid Off - 360		01-May-2005
323525782 1			38,400.00		38,281.24			13-Dec-2005		10.125%		ID - 19.97%		Paid Off - 180		01-May-2005
323526889 1			157,500.00		156,782.20			16-Nov-2005		8.249%		MI - 78.55%		Paid Off - 360		01-May-2005
323527010 1			69,000.00		68,723.18			30-Nov-2005		8.875%		OR - 19.95%		Paid Off - 180		01-May-2005


Page 16 of 23
Morgan Stanley Home Equity Loan Trust 2005-3

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2005-3

December 27, 2005 Distribution

Prepayment Detail Report - Mortgage Loans Prepaid in Full During Current Distribution
Loan Number			Original							Current		State &		Type Prepayment		First
Loan Number			Original							Current		State &		Type Prepayment

&		Loan	Principal		Prepayment			Prepayment		Note		LTV at		&		Payment

Loan Group		Status	Balance		Amount			Date		Rate		Origination		Original Term		Date

323527028 1			276,000.00		275,970.71			30-Nov-2005		5.625%		OR - 80.00%		Paid Off - 360		01-May-2005
323527028 1			276,000.00		275,970.71			30-Nov-2005		5.625%		OR - 80.00%		Paid Off - 360		01-May-2005
323528208 1			228,000.00		226,137.92			30-Nov-2005		6.999%		WA - 79.61%		Paid Off - 360		01-May-2005
323528323 1			15,200.00		15,162.06			23-Nov-2005		11.125%		FL - 19.97%		Paid Off - 180		01-May-2005
323528414 1			146,300.00		145,543.99			08-Dec-2005		7.625%		FL - 93.70%		Paid Off - 360		01-May-2005
323529453 1			144,000.00		143,138.44			09-Dec-2005		6.875%		OR - 79.29%		Paid Off - 360		01-May-2005
323545731 1			469,800.00		467,503.26			13-Dec-2005		7.900%		CA - 89.75%		Paid Off - 360		01-May-2005
323545855 1			80,625.00		80,214.83			02-Dec-2005		7.700%		LA - 74.78%		Paid Off - 360		01-May-2005
323782490 1			203,000.00		202,068.97			07-Dec-2005		7.850%		MD - 74.75%		Paid Off - 360		01-Jun-2005
323782953 1			132,050.00		132,050.00			17-Nov-2005		7.675%		AZ - 95.00%		Paid Off - 360		01-Jun-2005
323782979 1			297,500.00		296,318.39			12-Dec-2005		8.150%		CA - 83.64%		Paid Off - 360		01-Jun-2005
323783696 1			300,000.00		298,835.27			09-Dec-2005		8.600%		CA - 73.02%		Paid Off - 360		01-Jun-2005
323783977 1			162,000.00		161,143.01			30-Nov-2005		6.700%		IL - 89.76%		Paid Off - 360		01-Jun-2005
323830869 1			279,200.00		279,200.00			17-Nov-2005		6.700%		CA - 80.00%		Paid Off - 360		01-Jul-2005
323831164 1			127,720.00		127,652.09			18-Nov-2005		6.470%		AZ - 79.98%		Paid Off - 360		01-Jul-2005
323834192 1			174,000.00		173,169.84			02-Dec-2005		6.275%		CA - 79.85%		Paid Off - 360		01-Jul-2005
323834689 1			218,900.00		218,900.00			07-Dec-2005		8.500%		FL - 100.00%		Paid Off - 360		01-Jul-2005
323835165 1			166,200.00		166,200.00			30-Nov-2005		8.700%		AZ - 100.00%		Paid Off - 360		01-Jul-2005
323835249 1			115,200.00		114,706.68			07-Dec-2005		7.775%		MD - 79.83%		Paid Off - 360		01-Jun-2005
323892257 1			202,800.00		201,613.02			06-Dec-2005		6.988%		MD - 79.73%		Paid Off - 360		01-May-2005
323892455 1			288,000.00		286,805.79			01-Dec-2005		7.000%		CA - 71.88%		Paid Off - 360		01-Jul-2005
323892844 1			76,500.00		76,241.22			07-Dec-2005		8.025%		MO - 89.88%		Paid Off - 360		01-Jul-2005
323894477 1			185,300.00		184,952.70			29-Nov-2005		7.100%		CA - 84.94%		Paid Off - 360		01-Jul-2005
323894824 1			127,500.00		127,212.64			07-Dec-2005		9.990%		CA - 24.98%		Paid Off - 180		01-Jul-2005
323894949 1			547,425.00		547,425.00			29-Nov-2005		7.400%		CA - 75.00%		Paid Off - 360		01-Jul-2005
323895607 1			298,800.00		298,353.34			17-Nov-2005		7.100%		KS - 79.97%		Paid Off - 360		01-Aug-2005


TOTAL			11,425,588.00		11,391,010.44
TOTAL


Page 17 of 23
Morgan Stanley Home Equity Loan Trust 2005-3

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2005-3

December 27, 2005 Distribution
Realized Loss Report

COLLATERAL REALIZED LOSSES



															Total


Current
Current



Number of Loans Liquidated														0
Collateral Principal Realized Loss/(Gain) Amount														0.00
Collateral Interest Realized Loss/(Gain) Amount														0.00
Net Liquidation Proceeds														0.00

Cumulative
Cumulative



Number of Loans Liquidated														1
Collateral Realized Loss/(Gain) Amount														4,398.69
Net Liquidation Proceeds														38,938.40










Page 18 of 23
Morgan Stanley Home Equity Loan Trust 2005-3

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2005-3

December 27, 2005 Distribution


DEFAULT SPEEDS



															Total



MDR														0.00%
3 Months Avg MDR														0.00%
12 Months Avg MDR														0.00%
Avg MDR Since Cut-off														0.00%


CDR														0.00%
3 Months Avg CDR														0.02%
12 Months Avg CDR														0.02%
Avg CDR Since Cut-off														0.02%


SDA														0.00%
3 Months Avg SDA Approximation														0.19%
12 Months Avg SDA Approximation														0.16%
Avg SDA Since Cut-off Approximation														0.16%


Loss Severity Approximation for Current Period														0.00%
3 Months Avg Loss Severity Approximation														3.38%
12 Months Avg Loss Severity Approximation														2.54%
Avg Loss Severity Approximation Since Cut-off														2.54%












Page 19 of 23
Morgan Stanley Home Equity Loan Trust 2005-3

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2005-3

December 27, 2005 Distribution





COLLATERAL REALIZED LOSS CALCULATION METHODOLOGY
	Monthly Default Rate (MDR): (Beg Principal Balance of Liquidated Loans)/(Total Beg Principal Balance)



	Conditional Default Rate (CDR): 1-((1-MDR)^12)

	SDA Standard Default Assumption: CDR/IF(WAS<61,MIN(30,WAS)0.02,MAX(0.03,MIN(30,WAS)0.02-0.0095*(WAS-60)))

	Average MDR over period between nth month and mth month (AvgMDRn,m): [(1-MDRn)(1-MDRn+1)...*(1-MDRm)]^(1/months in period n,m)
	Average CDR over period between the nth month and mth month (AvgCDRn,m): 1-((1-AvgMDRn,m)^12)

	Average SDA Approximation over period between the nth month and mth month:
	AvgCDRn,m/IF(Avg WASn,m<61,MIN(30,Avg WASn,m)0.02,MAX(0.03,MIN(30,Avg WASn,m)0.02-0.0095*(Avg WASn,m-60)))

	Average WASn,m: (WASn + WASn+1 +...+ WASm )/(number of months in the period n,m)
	Loss Severity Approximation for current period: sum(Realized Loss Amount)/sum(Beg Principal Balance of Liquidated Loans)

	Average Loss Severity Approximation over period between nth month and mth month: Avg(Loss Severityn,m)

	Note: Default rates are calculated since deal issue date and include realized gains and additional realized losses and gains from prior periods.
	Dates correspond to distribution dates.




Page 20 of 23
Morgan Stanley Home Equity Loan Trust 2005-3

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2005-3

December 27, 2005 Distribution
Realized Loss Detail Report
Loan Number			Current		State &				Prior		Realized				Cumulative
															Cumulative
&		Loan	Note		LTV at		Original		Principal		Loss/(Gain)		Realized		Realized

Loan Group		Status	Rate		Origination		Term		Balance		Revision		Loss/(Gain)		Loss/(Gain)
Loan Group		Status	Rate		Origination		Term		Balance		Revision		Loss/(Gain)		Loss/(Gain)




TOTAL



Page 21 of 23
Morgan Stanley Home Equity Loan Trust 2005-3

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2005-3

December 27, 2005 Distribution
Triggers and Adj. Cert. Report
TRIGGER EVENTS
TRIGGER EVENTS
														Total
						Trigger Event in effect (0=No , 1=Yes)								1
						Stepdown Date has occurred (0 = No, 1=Yes)								0
						3M Rolling Avg.Bal 60+ days includes FC,REO								8,003,838.07
						Ending Balance								737,171,066.73
						Prior Period Senior Enhancement Percentage								23.0843%



ADJUSTABLE RATE CERTIFICATE INFORMATION

SPACE INTENTIONALLY LEFT BLANK



ADDITIONAL INFORMATION

SPACE INTENTIONALLY LEFT BLANK



Page 22 of 23
Morgan Stanley Home Equity Loan Trust 2005-3

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2005-3

December 27, 2005 Distribution
Other Related Information
ADDITIONAL INFORMATION
ADDITIONAL INFORMATION
														Total
Current Scheduled Payments														4,945,510.38
Current Scheduled Payments 1 Month Prior														4,999,695.26
Current Scheduled Payments 2 Month Prior														5,071,833.64
Current Scheduled Payments 3 Month Prior														5,110,691.70
Current Scheduled Payments 4 Month Prior														0.00
Current Scheduled Payments 5 Month Prior														0.00
Current Scheduled Payments 6 Month Prior														0.00
Current Scheduled Payments 7 Month Prior														0.00
Current Scheduled Payments 8 Month Prior														0.00
Current Scheduled Payments 9 Month Prior														0.00
Current Scheduled Payments 10 Month Prior														0.00
Current Scheduled Payments 11 Month Prior														0.00





Sched. Payments for 60+Day Delinquent Loans														0.00
Sched. Pmts - 60+Day Delinquent Loans, 1 Month Prior														0.00
Sched. Pmts - 60+Day Delinquent Loans, 2 Month Prior														0.00
Sched. Pmts - 60+Day Delinquent Loans, 3 Month Prior														0.00
Sched. Pmts - 60+Day Delinquent Loans, 4 Month Prior														0.00
Sched. Pmts - 60+Day Delinquent Loans, 5 Month Prior														0.00
Sched. Pmts - 60+Day Delinquent Loans, 6 Month Prior														0.00
Sched. Pmts - 60+Day Delinquent Loans, 7 Month Prior														0.00
Sched. Pmts - 60+Day Delinquent Loans, 8 Month Prior														0.00
Sched. Pmts - 60+Day Delinquent Loans, 9 Month Prior														0.00
Sched. Pmts - 60+Day Delinquent Loans, 10 Month Prior														0.00
Sched. Pmts - 60+Day Delinquent Loans, 11 Month Prior														0.00




Page 23 of 23

Morgan Stanley Home Equity Loan Trust Series 2005-3 8-K