                                    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
                  November 1, 2005, providing for the issuance of Morgan Stanley
              Home Equity Loan Trust, Mortgage Pass-Through Certificates
                                      Series 2005-4)
                      (Exact name of registrant as specified in charter)


                                         DELAWARE
                     (State or Other Jurisdiction of Incorporation)

               333-121914-13                        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 2005-4, which was made on
     November 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 2005-4

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2005-4

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					13

										7. Foreclosure Report					14
										8. Prepayment Report					15
										9. Prepayment Detail Report					18
										9. Prepayment Detail Report					18
										10. Realized Loss Report					20
										11. Realized Loss Detail Report					23
				Servicer(s)						11. Realized Loss Detail Report					23
				Servicer(s)						12. Triggers and Adj. Cert. Report					24
				HomeQ Servicing Corp.						12. Triggers and Adj. Cert. Report					24
				HomeQ Servicing Corp.						13. Other Related Information					25
										13. Other Related Information					25


				Underwriter(s)
				Morgan Stanley


										Total Number of Pages					25
										Total Number of Pages

				Dates						Contacts

				Cut-Off Date:			November 01, 2005			Marion Hogan
				Close Date:			November 29, 2005			Administrator
				First Distribution Date:			December 27, 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 25
Morgan Stanley Home Equity Loan Trust 2005-4

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2005-4

December 27, 2005 Distribution
Certificate Payment Report
Current Period Distribution - REMIC IV
					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	FLT/STEP	$	335,337,000.00		335,337,000.00		1,160,638.62		5,740,825.74		6,901,464.36		0.00		0.00		329,596,174.26
A-1	FLT/STEP	$	335,337,000.00		335,337,000.00		1,160,638.62		5,740,825.74		6,901,464.36		0.00		0.00		329,596,174.26
A-2a	FLT/STEP	$	256,767,000.00		256,767,000.00		860,740.04		10,615,864.09		11,476,604.13		0.00		0.00		246,151,135.91
A-2b	FLT/STEP	$	81,000,000.00		81,000,000.00		279,090.00		0.00		279,090.00		0.00		0.00		81,000,000.00
A-2c	FLT/STEP	$	58,500,000.00		58,500,000.00		206,115.00		0.00		206,115.00		0.00		0.00		58,500,000.00
M-1	FLT/STEP	$	37,135,000.00		37,135,000.00		133,438.43		0.00		133,438.43		0.00		0.00		37,135,000.00
M-2	FLT/STEP	$	33,758,000.00		33,758,000.00		122,091.43		0.00		122,091.43		0.00		0.00		33,758,000.00
M-3	FLT/STEP	$	24,114,000.00		24,114,000.00		87,587.41		0.00		87,587.41		0.00		0.00		24,114,000.00
M-4	FLT/STEP	$	17,844,000.00		17,844,000.00		66,617.60		0.00		66,617.60		0.00		0.00		17,844,000.00
M-5	FLT/STEP	$	16,880,000.00		16,880,000.00		63,412.53		0.00		63,412.53		0.00		0.00		16,880,000.00
M-6	FLT/STEP	$	14,950,000.00		14,950,000.00		56,976.11		0.00		56,976.11		0.00		0.00		14,950,000.00
B-1	FLT/STEP	$	16,397,000.00		16,397,000.00		72,183.24		0.00		72,183.24		0.00		0.00		16,397,000.00
B-2	FLT/STEP	$	11,575,000.00		11,575,000.00		55,457.11		0.00		55,457.11		0.00		0.00		11,575,000.00
B-3	FLT/STEP	$	12,539,000.00		12,539,000.00		64,952.02		0.00		64,952.02		0.00		0.00		12,539,000.00
X	FLT/STEP	$	47,744,874.00		47,744,874.00		1,536,378.43		100.74		1,536,479.17		0.00		0.00		47,744,773.26
P	EXE	$	0.00		0.00		370,459.88		0.00		370,459.88		0.00		0.00		0.00
R	SYN	$	0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00


Total			964,540,874.00		964,540,874.00		5,136,137.85		16,356,790.57		21,492,928.42		0.00		0.00		948,184,083.43
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	11/29/05		12/26/05		A-Act/360		61744CVE3		335,337,000.00		1,000.000000		3.461111		17.119571		20.580683	982.880429
A-2a	11/29/05		12/26/05		A-Act/360		61744CVF0		256,767,000.00		1,000.000000		3.352222		41.344348		44.696570	958.655652
A-2b	11/29/05		12/26/05		A-Act/360		61744CVG8		81,000,000.00		1,000.000000		3.445556		0.000000		3.445556	1,000.000000
A-2c	11/29/05		12/26/05		A-Act/360		61744CVH6		58,500,000.00		1,000.000000		3.523333		0.000000		3.523333	1,000.000000
M-1	11/29/05		12/26/05		A-Act/360		61744CVJ2		37,135,000.00		1,000.000000		3.593333		0.000000		3.593333	1,000.000000
M-2	11/29/05		12/26/05		A-Act/360		61744CVK9		33,758,000.00		1,000.000000		3.616667		0.000000		3.616667	1,000.000000
M-3	11/29/05		12/26/05		A-Act/360		61744CVL7		24,114,000.00		1,000.000000		3.632222		0.000000		3.632222	1,000.000000
M-4	11/29/05		12/26/05		A-Act/360		61744CVM5		17,844,000.00		1,000.000000		3.733333		0.000000		3.733333	1,000.000000
M-5	11/29/05		12/26/05		A-Act/360		61744CVN3		16,880,000.00		1,000.000000		3.756666		0.000000		3.756666	1,000.000000
M-6	11/29/05		12/26/05		A-Act/360		61744CVP8		14,950,000.00		1,000.000000		3.811111		0.000000		3.811111	1,000.000000
B-1	11/29/05		12/26/05		A-Act/360		61744CVQ6		16,397,000.00		1,000.000000		4.402222		0.000000		4.402222	1,000.000000
B-2	11/29/05		12/26/05		A-Act/360		61744CVR4		11,575,000.00		1,000.000000		4.791111		0.000000		4.791111	1,000.000000
B-3	11/29/05		12/26/05		A-Act/360		61744CVS2		12,539,000.00		1,000.000000		5.180000		0.000000		5.180000	1,000.000000
X	11/29/05		12/26/05		A-Act/360				47,744,874.00		1,000.000000		32.178919		0.002110		32.181029	999.997890
P	11/29/05		12/26/05		A-Act/360				0.00		0.000000		0.000000		0.000000		0.000000	0.000000
R	11/29/05		12/26/05		A-Act/360				0.00		0.000000		0.000000		0.000000		0.000000	0.000000




Page 2 of 25
Morgan Stanley Home Equity Loan Trust 2005-4

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2005-4

December 27, 2005 Distribution

Distribution to Date - REMIC IV
																	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	335,337,000.00		1,160,638.62		5,594,783.79		146,041.94		5,740,825.74		6,901,464.36		0.00		0.00		329,596,174.26
A-2a	256,767,000.00		860,740.04		10,345,805.13		270,058.96		10,615,864.09		11,476,604.13		0.00		0.00		246,151,135.91
A-2b	81,000,000.00		279,090.00		0.00		0.00		0.00		279,090.00		0.00		0.00		81,000,000.00
A-2c	58,500,000.00		206,115.00		0.00		0.00		0.00		206,115.00		0.00		0.00		58,500,000.00
M-1	37,135,000.00		133,438.43		0.00		0.00		0.00		133,438.43		0.00		0.00		37,135,000.00
M-2	33,758,000.00		122,091.43		0.00		0.00		0.00		122,091.43		0.00		0.00		33,758,000.00
M-3	24,114,000.00		87,587.41		0.00		0.00		0.00		87,587.41		0.00		0.00		24,114,000.00
M-4	17,844,000.00		66,617.60		0.00		0.00		0.00		66,617.60		0.00		0.00		17,844,000.00
M-5	16,880,000.00		63,412.53		0.00		0.00		0.00		63,412.53		0.00		0.00		16,880,000.00
M-6	14,950,000.00		56,976.11		0.00		0.00		0.00		56,976.11		0.00		0.00		14,950,000.00
B-1	16,397,000.00		72,183.24		0.00		0.00		0.00		72,183.24		0.00		0.00		16,397,000.00
B-2	11,575,000.00		55,457.11		0.00		0.00		0.00		55,457.11		0.00		0.00		11,575,000.00
B-3	12,539,000.00		64,952.02		0.00		0.00		0.00		64,952.02		0.00		0.00		12,539,000.00
X	47,744,874.00		1,536,378.43		98.17		2.56		100.74		1,536,479.17		0.00		0.00		47,744,773.26
P	0.00		370,459.88		0.00		0.00		0.00		370,459.88		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	964,540,874.00		5,136,137.85		15,940,687.09		416,103.46		16,356,790.57		21,492,928.42		0.00		0.00		948,184,083.43


Interest Detail - REMIC IV
	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	4.45000%		335,337,000.00		1,160,638.62		0.00		0.00		0.00		1,160,638.62		1,160,638.62		0.00
A-2a	4.31000%		256,767,000.00		860,740.04		0.00		0.00		0.00		860,740.04		860,740.04		0.00
A-2b	4.43000%		81,000,000.00		279,090.00		0.00		0.00		0.00		279,090.00		279,090.00		0.00
A-2c	4.53000%		58,500,000.00		206,115.00		0.00		0.00		0.00		206,115.00		206,115.00		0.00
M-1	4.62000%		37,135,000.00		133,438.43		0.00		0.00		0.00		133,438.43		133,438.43		0.00
M-2	4.65000%		33,758,000.00		122,091.43		0.00		0.00		0.00		122,091.43		122,091.43		0.00
M-3	4.67000%		24,114,000.00		87,587.41		0.00		0.00		0.00		87,587.41		87,587.41		0.00
M-4	4.80000%		17,844,000.00		66,617.60		0.00		0.00		0.00		66,617.60		66,617.60		0.00
M-5	4.83000%		16,880,000.00		63,412.53		0.00		0.00		0.00		63,412.53		63,412.53		0.00
M-6	4.90000%		14,950,000.00		56,976.11		0.00		0.00		0.00		56,976.11		56,976.11		0.00
B-1	5.66000%		16,397,000.00		72,183.24		0.00		0.00		0.00		72,183.24		72,183.24		0.00
B-2	6.16000%		11,575,000.00		55,457.11		0.00		0.00		0.00		55,457.11		55,457.11		0.00
B-3	6.66000%		12,539,000.00		64,952.02		0.00		0.00		0.00		64,952.02		64,952.02		0.00
X	41.37290%		47,744,874.00		0.00		0.00		0.00		0.00		0.00		1,536,378.43		0.00
P	0.00000%		0.00		0.00		0.00		0.00		0.00		0.00		370,459.88		0.00
R	0.00000%		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00


Total			964,540,874.00		3,229,299.54		0.00		0.00		0.00		3,229,299.54		5,136,137.85		0.00



Page 3 of 25
Morgan Stanley Home Equity Loan Trust 2005-4

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2005-4

December 27, 2005 Distribution
Collection Account Report
SUMMARY
SUMMARY
										Group 2		Group 1		Total
Principal Collections										10,614,621.67		5,740,326.98		16,354,948.65
Principal Withrawals										0.00		0.00		0.00
Principal Other Accounts										1,307.81		534.12		1,841.93
TOTAL NET PRINCIPAL										10,615,929.48		5,740,861.10		16,356,790.58
Interest Collections										2,971,595.83		2,522,802.39		5,494,398.22
Interest Withdrawals										-0.00		-0.00		-0.00
Interest Other Accounts										229,111.12		141,348.76		-294,376.71
Interest Fees										-32,301.10		-31,582.58		-63,883.67
TOTAL NET INTEREST										3,168,405.85		2,632,568.57		5,136,137.84
TOTAL AVAILABLE FUNDS FOR DISTRIBUTION										13,784,335.33		8,373,429.67		21,492,928.42



PRINCIPAL - COLLECTIONS
PRINCIPAL - COLLECTIONS
											Group 2		Group 1		Total
Scheduled Principal Received											203,983.41		212,120.05		416,103.46
Prepayments In Full											10,388,288.95		5,503,537.03		15,891,825.98
Curtailments											22,349.31		24,669.90		47,019.21
Liquidations											0.00		0.00		0.00
Insurance Principal											0.00		0.00		0.00
Repurchased Principal Amounts											0.00		0.00		0.00
Other Principal											0.00		0.00		0.00
Total Realized Loss Of Principal											-0.00		-0.00		-0.00
Delinquent Principal											-178,085.82		-178,408.67		-356,494.49
Advanced Principal											178,085.82		178,408.67		356,494.49
TOTAL PRINCIPAL COLLECTED											10,614,621.67		5,740,326.98		16,354,948.65


PRINCIPAL - WITHDRAWALS

SPACE INTENTIONALLY LEFT BLANK



PRINCIPAL - OTHER ACCOUNTS
PRINCIPAL - OTHER ACCOUNTS
										Group 2		Group 1		Total
Closing Deposit										1,307.81		534.12		1,841.93
TOTAL OTHER ACCOUNTS PRINCIPAL										1,307.81		534.12		1,841.93





Page 4 of 25
Morgan Stanley Home Equity Loan Trust 2005-4

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2005-4

December 27, 2005 Distribution

INTEREST - COLLECTIONS
INTEREST - COLLECTIONS
										Group 2		Group 1		Total
Scheduled Interest										3,159,021.94		2,677,161.66		5,836,183.60
Liquidation Interest										0.00		0.00		0.00
Repurchased Interest										0.00		0.00		0.00
Insurance Interest										0.00		0.00		0.00
Other Interest										0.00		0.00		0.00
Relief Act Interest Shortfalls										-0.00		-0.00		-0.00
Prepayment Interest Shortfalls										-21,784.69		-8,866.93		-30,651.62
Compensating Interest										21,784.68		8,866.93		30,651.61
Delinquent Interest										-2,721,495.64		-2,243,936.81		-4,965,432.45
Interest Advanced										2,534,069.54		2,089,577.54		4,623,647.08
TOTAL INTEREST COLLECTED										2,971,595.83		2,522,802.39		5,494,398.22


INTEREST - WITHDRAWALS
INTEREST - WITHDRAWALS
										Group 2		Group 1		Total
Nonrecoverable Advances
TOTAL INTEREST WITHDRAWALS										0.00		0.00		0.00



INTEREST - OTHER ACCOUNTS
INTEREST - OTHER ACCOUNTS
										Group 2		Group 1		Total
Prepayment Charges										229,111.12		141,348.76		370,459.88
Net Swap Payment														#######
TOTAL INTEREST OTHER ACCOUNTS										229,111.12		141,348.76		-294,376.71



INTEREST - FEES
INTEREST - FEES
										Group 2		Group 1		Total
Current Servicing Fees										30,254.89		29,851.00		60,105.89
Current Trustee Fees										2,046.21		1,731.58		3,777.79
TOTAL INTEREST OTHER FEES										32,301.10		31,582.58		63,883.67




Page 5 of 25
Morgan Stanley Home Equity Loan Trust 2005-4

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Mortgage Pass-Through Certificates
2005-4

December 27, 2005 Distribution
Credit Enhancement Report
ACCOUNTS
ACCOUNTS
										Group 2		Group 1		Total
Excess Reserve Fund Account Balance														0.00



INSURANCE

SPACE INTENTIONALLY LEFT BLANK



STRUCTURAL FEATURES
STRUCTURAL FEATURES
										Group 2		Group 1		Total
Specified Subordinated Target Amount														47,744,773.26
Subordinated Amount														47,744,773.26
Subordinated Deficiency Amount														0.00
Subordinated Release Amount														100.76




Page 6 of 25
Morgan Stanley Home Equity Loan Trust 2005-4

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Mortgage Pass-Through Certificates
2005-4

December 27, 2005 Distribution
Collateral Report


COLLATERAL



											Group 2		Group 1		Total



Loan Count:


Original										2,724		2,987		5,711
Prior										2,724		2,987		5,711
Prefunding										0		0		0
Scheduled Paid Offs										-0		-0		-0
Full Voluntary Prepayments										-39		-30		-69
Repurchases										-0		-0		-0
Liquidations										-0		-0		-0
Current										2,685		2,957		5,642
Principal Balance:


Original										522,434,382.98		442,104,649.11		964,539,032.09
Prior										522,434,382.98		442,104,649.11		964,539,032.09
Prefunding										0.00		0.00		0.00
Scheduled Principal										-203,983.41		-212,120.05		-416,103.46
Partial Prepayments										-22,349.31		-24,669.90		-47,019.21
Full Voluntary Prepayments										-10,388,288.95		-5,503,537.03		-15,891,825.98
Repurchases										-0.00		-0.00		-0.00
Liquidations										-0.00		-0.00		-0.00
Current										511,819,761.31		436,364,322.13		948,184,083.44





PREFUNDING

SPACE INTENTIONALLY LEFT BLANK






Page 7 of 25
Morgan Stanley Home Equity Loan Trust 2005-4

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2005-4

December 27, 2005 Distribution

CHARACTERISTICS
CHARACTERISTICS
										Group 2		Group 1		Total
Weighted Average Coupon Original										7.25608%		7.26659%		7.26090%
Weighted Average Coupon Prior										7.25608%		7.26659%		7.26090%
Weighted Average Coupon Current										7.25608%		7.26659%		7.26090%
Weighted Average Months to Maturity Original										347		349		348
Weighted Average Months to Maturity Prior										347		349		348
Weighted Average Months to Maturity Current										347		349		348
Weighted Avg Remaining Amortization Term Original										361		357		359
Weighted Avg Remaining Amortization Term Prior										361		357		359
Weighted Avg Remaining Amortization Term Current										361		357		359
Weighted Average Seasoning Original										4.27		4.07		4.17
Weighted Average Seasoning Prior										4.27		4.07		4.17
Weighted Average Seasoning Current										4.27		4.07		4.17









Page 8 of 25
Morgan Stanley Home Equity Loan Trust 2005-4

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Mortgage Pass-Through Certificates
2005-4

December 27, 2005 Distribution

ARM CHARACTERISTICS
ARM CHARACTERISTICS
										Group 2		Group 1		Total
Weighted Average Margin Original										6.39829%		6.48896%		6.44059%
Weighted Average Margin Prior										6.39829%		6.48896%		6.44059%
Weighted Average Margin Current										6.39829%		6.48896%		6.44059%
Weighted Average Max Rate Original										13.73806%		13.74015%		13.73904%
Weighted Average Max Rate Prior										13.73806%		13.74015%		13.73904%
Weighted Average Max Rate Current										13.73806%		13.74015%		13.73904%
Weighted Average Min Rate Original										7.04400%		7.10275%		7.07141%
Weighted Average Min Rate Prior										7.04400%		7.10275%		7.07141%
Weighted Average Min Rate Current										7.04400%		7.10275%		7.07141%
Weighted Average Cap Up Original										1.34338%		1.31625%		1.33073%
Weighted Average Cap Up Prior										1.34338%		1.31625%		1.33073%
Weighted Average Cap Up Current										1.34338%		1.31625%		1.33073%
Weighted Average Cap Down Original										1.34338%		1.31625%		1.33073%
Weighted Average Cap Down Prior										1.34338%		1.31625%		1.33073%
Weighted Average Cap Down Current										1.34338%		1.31625%		1.33073%




SERVICING FEES & ADVANCES

											Group 2		Group 1		Total




Current Servicing Fees										30,254.89		29,851.00		60,105.89
Delinquent Servicing Fees										187,426.10		154,359.27		341,785.37
TOTAL SERVICING FEES										217,680.99		184,210.27		401,891.26


Compensating Interest										-21,784.68		-8,866.93		-30,651.61
Delinquent Servicing Fees										-187,426.10		-154,359.27		-341,785.37
COLLECTED SERVICING FEES										-8,470.22		-20,984.07		-29,454.29


Aggregate Advances with respect to this Distribution										2,712,155.36		2,267,986.21		4,980,141.57





ADDITIONAL COLLATERAL INFORMATION
										Group 2		Group 1		Total
Net Prepayment Interest Shortfall										0.00		0.00		0.00
Libor For Current Period														4.210000%
Libor For Next Period														4.378750%




Page 9 of 25
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Mortgage Pass-Through Certificates
2005-4

December 27, 2005 Distribution
Delinquency Report

	TOTAL
					< 1 PAYMENT		1 PAYMENT		2 PAYMENTS		3+ PAYMENTS		TOTAL
	DELINQUENT		Balance				11,957,975.92		1,173,178.08		0.00		13,131,154.00
			% Balance				1.26%		0.12%		0.00%		1.38%
			# Loans				79		7		0		86
			% # Loans				1.40%		0.12%		0.00%		1.52%
	FORECLOSURE		Balance		0.00		0.00		359,867.61		0.00		359,867.61
			% Balance		0.00%		0.00%		0.04%		0.00%		0.04%
			# Loans		0		0		3		0		3
			% # Loans		0.00%		0.00%		0.05%		0.00%		0.05%
	BANKRUPTCY		Balance		421,642.25		0.00		0.00		0.00		421,642.25
			% Balance		0.04%		0.00%		0.00%		0.00%		0.04%
			# Loans		4		0		0		0		4
			% # Loans		0.07%		0.00%		0.00%		0.00%		0.07%
	REO		Balance		0.00		0.00		0.00		0.00		0.00
			% Balance		0.00%		0.00%		0.00%		0.00%		0.00%
			# Loans		0		0		0		0		0
			% # Loans		0.00%		0.00%		0.00%		0.00%		0.00%
	TOTAL		Balance		421,642.25		11,957,975.92		1,533,045.69		0.00		13,912,663.86
			% Balance		0.04%		1.26%		0.16%		0.00%		1.47%
			# Loans		4		79		10		0		93
			% # Loans		0.07%		1.40%		0.18%		0.00%		1.65%








Page 10 of 25
Morgan Stanley Home Equity Loan Trust 2005-4

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Mortgage Pass-Through Certificates
2005-4

December 27, 2005 Distribution


	GROUP 1
					< 1 PAYMENT		1 PAYMENT		2 PAYMENTS		3+ PAYMENTS		TOTAL
	DELINQUENT		Balance				4,021,388.07		73,365.13		0.00		4,094,753.20
			% Balance				0.92%		0.02%		0.00%		0.94%
			# Loans				30		1		0		31
			% # Loans				1.01%		0.03%		0.00%		1.05%
	FORECLOSURE		Balance		0.00		0.00		204,311.38		0.00		204,311.38
			% Balance		0.00%		0.00%		0.05%		0.00%		0.05%
			# Loans		0		0		1		0		1
			% # Loans		0.00%		0.00%		0.03%		0.00%		0.03%
	BANKRUPTCY		Balance		121,124.67		0.00		0.00		0.00		121,124.67
			% Balance		0.03%		0.00%		0.00%		0.00%		0.03%
			# Loans		1		0		0		0		1
			% # Loans		0.03%		0.00%		0.00%		0.00%		0.03%
	REO		Balance		0.00		0.00		0.00		0.00		0.00
			% Balance		0.00%		0.00%		0.00%		0.00%		0.00%
			# Loans		0		0		0		0		0
			% # Loans		0.00%		0.00%		0.00%		0.00%		0.00%
	TOTAL		Balance		121,124.67		4,021,388.07		277,676.51		0.00		4,420,189.25
			% Balance		0.03%		0.92%		0.06%		0.00%		1.01%
			# Loans		1		30		2		0		33
			% # Loans		0.03%		1.01%		0.07%		0.00%		1.12%










Page 11 of 25
Morgan Stanley Home Equity Loan Trust 2005-4

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Mortgage Pass-Through Certificates
2005-4

December 27, 2005 Distribution

	GROUP 2
					< 1 PAYMENT		1 PAYMENT		2 PAYMENTS		3+ PAYMENTS		TOTAL
	DELINQUENT		Balance				7,936,587.85		1,099,812.95		0.00		9,036,400.80
			% Balance				1.55%		0.21%		0.00%		1.77%
			# Loans				49		6		0		55
			% # Loans				1.82%		0.22%		0.00%		2.05%
	FORECLOSURE		Balance		0.00		0.00		155,556.23		0.00		155,556.23
			% Balance		0.00%		0.00%		0.03%		0.00%		0.03%
			# Loans		0		0		2		0		2
			% # Loans		0.00%		0.00%		0.07%		0.00%		0.07%
	BANKRUPTCY		Balance		300,517.58		0.00		0.00		0.00		300,517.58
			% Balance		0.06%		0.00%		0.00%		0.00%		0.06%
			# Loans		3		0		0		0		3
			% # Loans		0.11%		0.00%		0.00%		0.00%		0.11%
	REO		Balance		0.00		0.00		0.00		0.00		0.00
			% Balance		0.00%		0.00%		0.00%		0.00%		0.00%
			# Loans		0		0		0		0		0
			% # Loans		0.00%		0.00%		0.00%		0.00%		0.00%
	TOTAL		Balance		300,517.58		7,936,587.85		1,255,369.18		0.00		9,492,474.61
			% Balance		0.06%		1.55%		0.25%		0.00%		1.85%
			# Loans		3		49		8		0		60
			% # Loans		0.11%		1.82%		0.30%		0.00%		2.23%









Page 12 of 25
Morgan Stanley Home Equity Loan Trust 2005-4

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2005-4

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




TOTAL


Page 13 of 25
Morgan Stanley Home Equity Loan Trust 2005-4

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2005-4

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
323895375 1
323895375 1			204,750.00		204,311.38		01-Aug-2005		11.100%		FL - 75.00%		360		01-Jul-2005

323938308 2			112,000.00		111,656.27		01-Aug-2005		8.505%		OH - 80.00%		360		01-Aug-2005
323953729 2			43,980.00		43,899.96		01-Aug-2005		10.990%		CO - 20.00%		180		01-Aug-2005


TOTAL			360,730.00		359,867.61


Page 14 of 25
Morgan Stanley Home Equity Loan Trust 2005-4

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2005-4

December 27, 2005 Distribution
Prepayment Report

VOLUNTARY PREPAYMENTS
VOLUNTARY PREPAYMENTS

											Group 2		Group 1		Total




Current


Number of Paid in Full Loans										39		30		69
Number of Repurchased Loans										0		0		0
Total Number of Loans Prepaid in Full										39		30		69
Curtailments Amount										22,349.31		24,669.90		47,019.21
Paid in Full Balance										10,388,288.95		5,503,537.03		15,891,825.98
Repurchased Loans Balance										0.00		0.00		0.00
Total Prepayment Amount										10,410,638.26		5,528,206.93		15,938,845.19

Cumulative


Number of Paid in Full Loans										39		30		69
Number of Repurchased Loans										0		0		0
Total Number of Loans Prepaid in Full										39		30		69
Paid in Full Balance										10,388,288.95		5,503,537.03		15,891,825.98
Repurchased Loans Balance										0.00		0.00		0.00
Curtailments Amount										22,349.31		24,669.90		47,019.21
Total Prepayment Amount										10,410,638.26		5,528,206.93		15,938,845.19










Page 15 of 25
Morgan Stanley Home Equity Loan Trust 2005-4

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Mortgage Pass-Through Certificates
2005-4

December 27, 2005 Distribution

VOLUNTARY PREPAYMENTS RATES
VOLUNTARY PREPAYMENTS RATES

											Group 2		Group 1		Total



SMM										1.99%		1.25%		1.65%
3 Months Avg SMM										1.99%		1.25%		1.65%
12 Months Avg SMM										1.99%		1.25%		1.65%
Avg SMM Since Cut-off										1.99%		1.25%		1.65%


CPR										21.47%		14.02%		18.13%
3 Months Avg CPR										21.47%		14.02%		18.13%
12 Months Avg CPR										21.47%		14.02%		18.13%
Avg CPR Since Cut-off										21.47%		14.02%		18.13%


PSA										2,516.07%		1,723.15%		2,171.31%
3 Months Avg PSA Approximation										2,516.08%		1,723.15%		2,171.31%
12 Months Avg PSA Approximation										2,516.08%		1,723.15%		2,171.31%
Avg PSA Since Cut-off Approximation										2,516.08%		1,723.15%		2,171.31%










Page 16 of 25
Morgan Stanley Home Equity Loan Trust 2005-4

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Mortgage Pass-Through Certificates
2005-4

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 17 of 25
Morgan Stanley Home Equity Loan Trust 2005-4

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2005-4

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

323275305 2			450,000.00		449,977.79			01-Nov-2005		6.125%		CA - 90.00%		Paid Off - 360		01-Apr-2005
323275305 2			450,000.00		449,977.79			01-Nov-2005		6.125%		CA - 90.00%		Paid Off - 360		01-Apr-2005
323835264 2			135,960.00		135,417.25			05-Dec-2005		8.125%		AZ - 80.00%		Paid Off - 360		01-Jun-2005
323937136 2			382,500.00		381,564.19			30-Nov-2005		8.505%		CA - 85.00%		Paid Off - 360		01-Aug-2005
323937664 2			364,000.00		362,741.92			07-Dec-2005		6.775%		CA - 80.00%		Paid Off - 360		01-Aug-2005
323939645 2			522,500.00		522,500.00			08-Dec-2005		7.875%		CA - 95.00%		Paid Off - 360		01-Aug-2005
323939843 1			141,600.00		141,402.87			21-Nov-2005		6.130%		WA - 80.00%		Paid Off - 360		01-Aug-2005
323940254 2			268,500.00		268,038.92			16-Nov-2005		10.200%		RI - 100.00%		Paid Off - 360		01-Aug-2005
323940460 2			320,690.00		320,690.00			09-Nov-2005		6.205%		UT - 80.00%		Paid Off - 360		01-Aug-2005
323940932 2			125,600.00		125,336.77			15-Dec-2005		9.255%		MI - 80.00%		Paid Off - 360		#######
323941468 2			159,410.00		159,410.00			01-Nov-2005		9.200%		OH - 100.00%		Paid Off - 360		01-Aug-2005
323942805 1			266,000.00		264,894.86			30-Nov-2005		6.990%		NY - 70.00%		Paid Off - 360		01-Jul-2005
323943027 2			14,980.00		14,569.26			07-Nov-2005		9.130%		PA - 20.00%		Paid Off - 120		01-Jul-2005
323943811 1			218,000.00		218,000.00			15-Nov-2005		6.125%		VA - 55.33%		Paid Off - 360		01-Aug-2005
323944215 1			207,000.00		207,000.00			15-Dec-2005		6.900%		CA - 90.00%		Paid Off - 360		01-Aug-2005
323944330 2			205,000.00		204,293.55			13-Dec-2005		6.790%		MD - 72.18%		Paid Off - 360		01-Aug-2005
323944975 2			704,000.00		701,506.98			06-Dec-2005		6.650%		AZ - 80.00%		Paid Off - 360		01-Aug-2005
323946053 1			234,000.00		233,384.61			06-Dec-2005		8.150%		NC - 90.00%		Paid Off - 360		01-Aug-2005
323947234 2			342,400.00		342,400.00			03-Nov-2005		6.625%		CA - 80.00%		Paid Off - 360		01-Jun-2005
323947242 2			85,600.00		85,439.04			03-Nov-2005		11.700%		CA - 20.00%		Paid Off - 180		01-Jun-2005
323947630 2			448,400.00		448,400.00			14-Nov-2005		6.625%		CA - 79.92%		Paid Off - 360		01-Aug-2005
323948661 2			67,669.00		67,552.80			02-Dec-2005		10.200%		CA - 20.00%		Paid Off - 180		01-Aug-2005
323950550 1			285,000.00		285,000.00			01-Nov-2005		7.760%		IL - 71.25%		Paid Off - 360		01-Aug-2005
323951228 1			120,000.00		119,606.95			29-Nov-2005		7.050%		MN - 61.54%		Paid Off - 360		01-Aug-2005
323951236 1			157,600.00		157,092.85			29-Nov-2005		7.140%		IL - 80.00%		Paid Off - 360		01-Aug-2005
323953026 1			243,000.00		242,131.21			30-Nov-2005		7.750%		AZ - 89.01%		Paid Off - 360		01-Jul-2005
323953505 2			252,000.00		251,081.34			23-Nov-2005		6.500%		AZ - 80.00%		Paid Off - 360		01-Aug-2005
323953513 2			63,000.00		62,886.90			23-Nov-2005		9.990%		AZ - 20.00%		Paid Off - 180		01-Aug-2005
323953885 1			177,650.00		177,213.73			30-Nov-2005		8.490%		MD - 85.00%		Paid Off - 360		01-Aug-2005
323954198 2			246,000.00		244,283.33			30-Nov-2005		7.650%		VA - 79.87%		Paid Off - 360		01-Aug-2005
323954743 1			156,600.00		155,787.49			09-Dec-2005		7.450%		FL - 90.00%		Paid Off - 360		01-Jun-2005
323954859 2			181,500.00		180,803.01			09-Nov-2005		7.390%		MD - 75.63%		Paid Off - 360		01-Jul-2005
323955146 2			40,000.00		39,401.12			01-Nov-2005		10.500%		AZ - 20.00%		Paid Off - 180		01-Jul-2005
324013663 1			212,000.00		211,543.45			09-Nov-2005		9.124%		FL - 100.00%		Paid Off - 360		01-Aug-2005
324013861 1			235,000.00		234,925.09			14-Nov-2005		7.650%		MD - 94.00%		Paid Off - 360		01-Sep-2005
324014232 2			65,000.00		64,886.68			22-Nov-2005		10.130%		WA - 84.42%		Paid Off - 360		01-Aug-2005
324017375 2			408,000.00		407,628.13			30-Nov-2005		9.130%		AZ - 85.00%		Paid Off - 360		01-Aug-2005
324232321 1			256,000.00		256,000.00			29-Nov-2005		6.990%		CA - 80.00%		Paid Off - 360		01-Jul-2005
324233113 1			264,000.00		264,000.00			22-Nov-2005		7.690%		IL - 80.00%		Paid Off - 360		01-Sep-2005
324233220 1			258,000.00		258,000.00			01-Nov-2005		7.400%		MD - 83.23%		Paid Off - 360		01-Aug-2005
324234905 1			112,000.00		111,728.36			09-Dec-2005		7.100%		FL - 53.33%		Paid Off - 360		01-Sep-2005
324235456 2			310,250.00		309,444.11			01-Nov-2005		6.750%		NY - 85.00%		Paid Off - 360		01-Sep-2005


Page 18 of 25
Morgan Stanley Home Equity Loan Trust 2005-4

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2005-4

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

324237445 1			56,100.00		56,039.30			22-Nov-2005		10.990%		IL - 17.00%		Paid Off - 180		01-Sep-2005
324237445 1			56,100.00		56,039.30			22-Nov-2005		10.990%		IL - 17.00%		Paid Off - 180		01-Sep-2005
324237999 2			108,000.00		107,855.16			01-Nov-2005		9.990%		CA - 20.00%		Paid Off - 180		01-Sep-2005
324240126 1			156,000.00		155,623.52			23-Nov-2005		7.125%		CT - 69.33%		Paid Off - 360		01-Sep-2005
324240233 2			110,500.00		110,269.18			08-Dec-2005		7.850%		FL - 85.00%		Paid Off - 360		01-Sep-2005
324241892 2			436,000.00		435,023.18			17-Nov-2005		7.500%		FL - 89.90%		Paid Off - 360		01-Sep-2005
324272152 2			110,400.00		110,066.02			22-Nov-2005		7.490%		NJ - 80.00%		Paid Off - 360		01-Aug-2005
324275130 2			369,550.00		369,550.00			05-Dec-2005		6.750%		FL - 79.99%		Paid Off - 360		01-Oct-2005
324276534 1			172,000.00		171,678.38			28-Nov-2005		6.340%		FL - 80.00%		Paid Off - 360		01-Oct-2005
324277805 2			350,150.00		350,150.00			14-Nov-2005		7.400%		FL - 80.00%		Paid Off - 360		01-Aug-2005
324277813 2			87,500.00		87,342.88			14-Nov-2005		9.990%		FL - 19.99%		Paid Off - 180		01-Aug-2005
324278878 2			440,000.00		440,000.00			01-Dec-2005		6.500%		MD - 80.00%		Paid Off - 360		01-Oct-2005
324280106 1			43,000.00		42,947.72			05-Dec-2005		8.500%		TN - 20.00%		Paid Off - 180		01-Oct-2005
324280247 1			175,600.00		175,363.08			12-Dec-2005		7.990%		FL - 89.98%		Paid Off - 360		01-Oct-2005
324282490 1			200,000.00		199,687.02			29-Nov-2005		7.250%		WI - 80.00%		Paid Off - 360		01-Oct-2005
324282672 1			50,000.00		49,965.32			29-Nov-2005		11.150%		WI - 20.00%		Paid Off - 360		01-Oct-2005
324283134 1			106,000.00		105,841.25			16-Nov-2005		7.480%		IL - 76.26%		Paid Off - 360		01-Oct-2005
324285048 1			135,000.00		135,000.00			08-Nov-2005		6.250%		CA - 60.00%		Paid Off - 360		01-Sep-2005
324285402 1			154,625.00		154,203.71			01-Dec-2005		7.975%		MD - 64.43%		Paid Off - 360		01-Aug-2005
324287150 2			472,000.00		472,000.00			23-Nov-2005		7.925%		CA - 80.00%		Paid Off - 360		01-Sep-2005
324287168 2			118,000.00		117,869.12			23-Nov-2005		10.875%		CA - 20.00%		Paid Off - 360		01-Sep-2005
324289396 2			183,500.00		183,212.85			01-Dec-2005		7.250%		CA - 80.00%		Paid Off - 360		01-Oct-2005
324289438 2			45,850.00		45,820.56			01-Dec-2005		11.500%		CA - 19.99%		Paid Off - 360		01-Oct-2005
324290634 2			440,000.00		439,376.91			22-Nov-2005		7.750%		CA - 83.02%		Paid Off - 360		01-Oct-2005
324293273 1			193,500.00		193,500.00			09-Nov-2005		7.375%		CA - 90.00%		Paid Off - 360		01-Sep-2005
324293315 2			578,000.00		578,000.00			10-Nov-2005		7.250%		CA - 88.24%		Paid Off - 360		01-Sep-2005
324293380 2			391,500.00		391,500.00			16-Nov-2005		7.375%		CA - 90.00%		Paid Off - 360		01-Sep-2005
324293885 1			356,250.00		356,250.00			13-Dec-2005		8.750%		CA - 95.00%		Paid Off - 360		01-Oct-2005
324295187 1			170,000.00		169,726.26			13-Dec-2005		7.750%		IL - 70.83%		Paid Off - 360		01-Oct-2005


TOTAL			15,915,434.00		15,891,825.98
TOTAL


Page 19 of 25
Morgan Stanley Home Equity Loan Trust 2005-4

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2005-4

December 27, 2005 Distribution
Realized Loss Report

COLLATERAL REALIZED LOSSES



											Group 2		Group 1		Total


Current
Current



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

Cumulative
Cumulative



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










Page 20 of 25
Morgan Stanley Home Equity Loan Trust 2005-4

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2005-4

December 27, 2005 Distribution


DEFAULT SPEEDS



											Group 2		Group 1		Total



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


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


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


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












Page 21 of 25
Morgan Stanley Home Equity Loan Trust 2005-4

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2005-4

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 22 of 25
Morgan Stanley Home Equity Loan Trust 2005-4

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2005-4

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 23 of 25
Morgan Stanley Home Equity Loan Trust 2005-4

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2005-4

December 27, 2005 Distribution
Triggers and Adj. Cert. Report
TRIGGER EVENTS
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
						3M Rolling Avg.Bal 60+ days includes BK,FC,REO								1,533,045.69
						Ending Balance								948,184,083.44
						Prior Period Senior Enhancement Percentage								24.1501%



ADJUSTABLE RATE CERTIFICATE INFORMATION

SPACE INTENTIONALLY LEFT BLANK



ADDITIONAL INFORMATION
ADDITIONAL INFORMATION
										Group 2		Group 1		Total
Basis Risk CarryForward Amount paid														0.00
Basis Risk CarryForward Amount unpaid														0.00



Page 24 of 25
Morgan Stanley Home Equity Loan Trust 2005-4

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2005-4

December 27, 2005 Distribution
Other Related Information
ADDITIONAL INFORMATION
ADDITIONAL INFORMATION
										Group 2		Group 1		Total
Current Scheduled Payments														6,252,287.06
Current Scheduled Payments 1 Month Prior														0.00
Current Scheduled Payments 2 Month Prior														0.00
Current Scheduled Payments 3 Month Prior														0.00
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		0.00		0.00
Sched. Pmts - 60+Day Delinquent Loans, 1 Month Prior										0.00		0.00		0.00
Sched. Pmts - 60+Day Delinquent Loans, 2 Month Prior										0.00		0.00		0.00
Sched. Pmts - 60+Day Delinquent Loans, 3 Month Prior										0.00		0.00		0.00
Sched. Pmts - 60+Day Delinquent Loans, 4 Month Prior										0.00		0.00		0.00
Sched. Pmts - 60+Day Delinquent Loans, 5 Month Prior										0.00		0.00		0.00
Sched. Pmts - 60+Day Delinquent Loans, 6 Month Prior										0.00		0.00		0.00
Sched. Pmts - 60+Day Delinquent Loans, 7 Month Prior										0.00		0.00		0.00
Sched. Pmts - 60+Day Delinquent Loans, 8 Month Prior										0.00		0.00		0.00
Sched. Pmts - 60+Day Delinquent Loans, 9 Month Prior										0.00		0.00		0.00
Sched. Pmts - 60+Day Delinquent Loans, 10 Month Prior										0.00		0.00		0.00
Sched. Pmts - 60+Day Delinquent Loans, 11 Month Prior										0.00		0.00		0.00




Page 25 of 25

Morgan Stanley Home Equity Loan Trust 2005-4 8-K