                                    UNITED STATES
                          SECURITIES AND EXCHANGE COMMISSION
                                Washington, D.C. 20549

                                      FORM 8-K /A

                                   CURRENT REPORT
        Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

             Date of Report (Date of earliest event reported): February 25, 2005
                             (Date of earliest event reported)


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


                                         DELAWARE
                     (State or Other Jurisdiction of Incorporation)

               333-113543-24                        13-3939229
          (Commission File Number)        (I.R.S. Employer Identification No.)


           1585 BROADWAY, 2ND FLOOR
           NEW YORK, NEW YORK                             10036
          (Address of principal executive offices)     (Zip Code)


          Registrant's Telephone Number, Including Area Code:  (212) 761-4000


             (Former name or former address, if changed since last report.)


     Check the appropriate box below if the Form 8-K filing is intended to
     simultaneously satisfy the filing obligation of the registrant under any
     of the following provisions (see General Instruction A.2. below):

     [  ] Written communications pursuant to Rule 425 under the Securities Act
     (17 CFR 230.425)

     [  ] Soliciting material pursuant to Rule 14a-12(b) under the Exchange Act
     (17 CFR 240.14a-12(b))

     [  ] Pre-commencement communications pursuant to Rule 14d-2(b) under the
     Exchange Act (17 CFR 240.14d-2(b))

     [  ] Pre-commencement communications pursuant to Rule 13e-4(c) under the
     Exchange Act (17 CFR 240.13e-4(c))


     Item 8.01 Other Events.

     This current report on Form 8-K relates to the monthly distribution reported to the holders of
     Morgan Stanley Home Equity Loan Trust, Mortgage Pass-Through Certificates Series 2005-1,
     which was made on January 1, 2005


     Item 9.01 Financial Statements and Exhibits.

     (c) Exhibits

     Exhibit No. Description

     99.1 Monthly Remittance Statement to the Certificateholders dated as of
     February 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:  Mar 17, 2006               By:  /s/  Katherine M. Wannenmacher
                                            Katherine M. Wannenmacher
                                            Vice President



                                   EXHIBIT INDEX

         DOCUMENT

         99.1 Monthly Remittance Statement to the Certificateholders dated as of
              February 25, 2005.



Morgan Stanley Home Equity Loan Trust 2005-1

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2005-1

February 25, 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					19
										11. Realized Loss Detail Report					22
				Servicer(s)						11. Realized Loss Detail Report					22
				Servicer(s)						12. Triggers and Adj. Cert. Report					23
				Chase Securities, Inc						12. Triggers and Adj. Cert. Report					23
				Chase Securities, Inc						13. Other Related Information					24
				HomeQ Servicing Corp.						13. Other Related Information					24
				HomeQ Servicing Corp.


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


										Total Number of Pages					24
										Total Number of Pages

				Dates						Contacts

				Cut-Off Date:			January 01, 2005			Marion Hogan
				Close Date:			January 28, 2005			Administrator
				First Distribution Date:			February 25, 2005			(714) 247-6282
										marion.c.hogan@db.com
										marion.c.hogan@db.com
										Address:
				Distribution Date:			February 25, 2005			Address:
				Distribution Date:			February 25, 2005			1761 East St. Andrew Place, Santa Ana, CA 92705
										1761 East St. Andrew Place, Santa Ana, CA 92705

				Record Date:			January 31, 2005
										Factor Information:			(800) 735-7777
										Factor Information:			(800) 735-7777
							February 24, 2005			Main Phone Number:			(714) 247-6000





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








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

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2005-1

February 25, 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-1SS	FLT/STP/WAC	$	293,823,000.00		293,823,000.00		646,451.41		4,024,301.27		4,670,752.68		0.00		0.00		289,798,698.73
A-1SS	FLT/STP/WAC	$	293,823,000.00		293,823,000.00		646,451.41		4,024,301.27		4,670,752.68		0.00		0.00		289,798,698.73
A-1MZ	FLT/STP/WAC	$	73,456,000.00		73,456,000.00		162,756.05		1,006,078.74		1,168,834.79		0.00		0.00		72,449,921.26
A-2A	FLT/STP/WAC	$	161,866,000.00		161,866,000.00		337,243.31		8,486,066.64		8,823,309.95		0.00		0.00		153,379,933.36
A-2B	FLT/STP/WAC	$	180,000,000.00		180,000,000.00		387,625.00		0.00		387,625.00		0.00		0.00		180,000,000.00
A-2C	FLT/STP/WAC	$	35,000,000.00		35,000,000.00		79,182.64		0.00		79,182.64		0.00		0.00		35,000,000.00
M-1	SUB/FLT/WAC	$	30,569,000.00		30,569,000.00		71,535.71		0.00		71,535.71		0.00		0.00		30,569,000.00
M-2	SUB/FLT/WAC	$	27,831,000.00		27,831,000.00		65,561.33		0.00		65,561.33		0.00		0.00		27,831,000.00
M-3	SUB/FLT/WAC	$	17,794,000.00		17,794,000.00		42,609.22		0.00		42,609.22		0.00		0.00		17,794,000.00
M-4	SUB/FLT/WAC	$	15,512,000.00		15,512,000.00		39,316.46		0.00		39,316.46		0.00		0.00		15,512,000.00
M-5	SUB/FLT/WAC	$	14,600,000.00		14,600,000.00		37,572.69		0.00		37,572.69		0.00		0.00		14,600,000.00
M-6	SUB/FLT/WAC	$	13,232,000.00		13,232,000.00		35,081.34		0.00		35,081.34		0.00		0.00		13,232,000.00
B-1	SUB/FLT/WAC	$	11,862,000.00		11,862,000.00		35,600.83		0.00		35,600.83		0.00		0.00		11,862,000.00
B-2	SUB/FLT/WAC	$	7,756,000.00		7,756,000.00		24,001.59		0.00		24,001.59		0.00		0.00		7,756,000.00
B-3	SUB/FLT/WAC	$	9,126,000.00		9,126,000.00		34,487.41		0.00		34,487.41		0.00		0.00		9,126,000.00
X	SUB/FLT/WAC	$	20,075,053.00		20,075,053.00		3,155,737.09		7.83		3,155,744.92		0.00		0.00		20,075,045.17
UT-R	RES	$	0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00
P	EXE	$	0.00		0.00		143,947.30		0.00		143,947.30		0.00		0.00		0.00

Total			912,502,053.00		912,502,053.00		5,298,709.38		13,516,454.48		18,815,163.86		0.00		0.00		898,985,598.52
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-1SS	01/28/05		02/24/05		A-Act/360		61744CKZ8		293,823,000.00		1,000.000000		2.200139		13.696345		15.896484	986.303655
A-1MZ	01/28/05		02/24/05		A-Act/360		61744CLA2		73,456,000.00		1,000.000000		2.215694		13.696345		15.912040	986.303655
A-2A	01/28/05		02/24/05		A-Act/360		61744CLB0		161,866,000.00		1,000.000000		2.083472		52.426493		54.509965	947.573507
A-2B	01/28/05		02/24/05		A-Act/360		61744CLC8		180,000,000.00		1,000.000000		2.153472		0.000000		2.153472	1,000.000000
A-2C	01/28/05		02/24/05		A-Act/360		61744CLD6		35,000,000.00		1,000.000000		2.262361		0.000000		2.262361	1,000.000000
M-1	01/28/05		02/24/05		A-Act/360		61744CLE4		30,569,000.00		1,000.000000		2.340139		0.000000		2.340139	1,000.000000
M-2	01/28/05		02/24/05		A-Act/360		61744CLF1		27,831,000.00		1,000.000000		2.355694		0.000000		2.355694	1,000.000000
M-3	01/28/05		02/24/05		A-Act/360		61744CLG9		17,794,000.00		1,000.000000		2.394584		0.000000		2.394584	1,000.000000
M-4	01/28/05		02/24/05		A-Act/360		61744CLH7		15,512,000.00		1,000.000000		2.534584		0.000000		2.534584	1,000.000000
M-5	01/28/05		02/24/05		A-Act/360		61744CLJ3		14,600,000.00		1,000.000000		2.573472		0.000000		2.573472	1,000.000000
M-6	01/28/05		02/24/05		A-Act/360		61744CLK0		13,232,000.00		1,000.000000		2.651250		0.000000		2.651250	1,000.000000
B-1	01/28/05		02/24/05		A-Act/360		61744CLL8		11,862,000.00		1,000.000000		3.001250		0.000000		3.001250	1,000.000000
B-2	01/28/05		02/24/05		A-Act/360		61744CLM6		7,756,000.00		1,000.000000		3.094584		0.000000		3.094584	1,000.000000
B-3	01/28/05		02/24/05		A-Act/360		61744CLN4		9,126,000.00		1,000.000000		3.779028		0.000000		3.779028	1,000.000000
X	01/28/05		02/24/05		A-Act/360		MS05X1101		20,075,053.00		1,000.000000		157.196949		0.000390		157.197339	999.999610
UT-R	01/28/05		02/24/05		A-30/360		MS05X1103		0.00		0.000000		0.000000		0.000000		0.000000	0.000000
P	01/28/05		02/24/05		A-30/360		MS05X1102		0.00		0.000000		0.000000		0.000000		0.000000	0.000000



Page 2 of 24
Morgan Stanley Home Equity Loan Trust 2005-1

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2005-1

February 25, 2005 Distribution

Distribution to Date - REMIC II
																	Current


	Original				Unscheduled		Scheduled		Total		Total		Realized		Deferred		Principal

Class	Face Value		Interest		Principal		Principal		Principal		Distribution		Loss		Interest		Balance
	(1)		(2)		(3)		(4)		(5)=(3)+(4)		(6)=(2)+(5)		(7)		(8)		(9)=(1)-(5)-(7)+(8)
A-1SS	293,823,000.00		646,451.41		3,867,345.11		156,956.16		4,024,301.27		4,670,752.68		0.00		0.00		289,798,698.73
A-1MZ	73,456,000.00		162,756.05		966,839.56		39,239.17		1,006,078.74		1,168,834.79		0.00		0.00		72,449,921.26
A-2A	161,866,000.00		337,243.31		8,155,092.30		330,974.34		8,486,066.64		8,823,309.95		0.00		0.00		153,379,933.36
A-2B	180,000,000.00		387,625.00		0.00		0.00		0.00		387,625.00		0.00		0.00		180,000,000.00
A-2C	35,000,000.00		79,182.64		0.00		0.00		0.00		79,182.64		0.00		0.00		35,000,000.00
M-1	30,569,000.00		71,535.71		0.00		0.00		0.00		71,535.71		0.00		0.00		30,569,000.00
M-2	27,831,000.00		65,561.33		0.00		0.00		0.00		65,561.33		0.00		0.00		27,831,000.00
M-3	17,794,000.00		42,609.22		0.00		0.00		0.00		42,609.22		0.00		0.00		17,794,000.00
M-4	15,512,000.00		39,316.46		0.00		0.00		0.00		39,316.46		0.00		0.00		15,512,000.00
M-5	14,600,000.00		37,572.69		0.00		0.00		0.00		37,572.69		0.00		0.00		14,600,000.00
M-6	13,232,000.00		35,081.34		0.00		0.00		0.00		35,081.34		0.00		0.00		13,232,000.00
B-1	11,862,000.00		35,600.83		0.00		0.00		0.00		35,600.83		0.00		0.00		11,862,000.00
B-2	7,756,000.00		24,001.59		0.00		0.00		0.00		24,001.59		0.00		0.00		7,756,000.00
B-3	9,126,000.00		34,487.41		0.00		0.00		0.00		34,487.41		0.00		0.00		9,126,000.00
X	20,075,053.00		3,155,737.09		7.53		0.31		7.83		3,155,744.92		0.00		0.00		20,075,045.17
UT-R	0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00
P	0.00		143,947.30		0.00		0.00		0.00		143,947.30		0.00		0.00		0.00

Total	912,502,053.00		5,298,709.38		12,989,284.50		527,169.98		13,516,454.48		18,815,163.86		0.00		0.00		898,985,598.52


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-1SS	2.82875%		293,823,000.00		646,451.41		0.00		0.00		0.00		646,451.41		646,451.41		0.00
A-1MZ	2.84875%		73,456,000.00		162,756.05		0.00		0.00		0.00		162,756.05		162,756.05		0.00
A-2A	2.67875%		161,866,000.00		337,243.31		0.00		0.00		0.00		337,243.31		337,243.31		0.00
A-2B	2.76875%		180,000,000.00		387,625.00		0.00		0.00		0.00		387,625.00		387,625.00		0.00
A-2C	2.90875%		35,000,000.00		79,182.64		0.00		0.00		0.00		79,182.64		79,182.64		0.00
M-1	3.00875%		30,569,000.00		71,535.71		0.00		0.00		0.00		71,535.71		71,535.71		0.00
M-2	3.02875%		27,831,000.00		65,561.33		0.00		0.00		0.00		65,561.33		65,561.33		0.00
M-3	3.07875%		17,794,000.00		42,609.22		0.00		0.00		0.00		42,609.22		42,609.22		0.00
M-4	3.25875%		15,512,000.00		39,316.46		0.00		0.00		0.00		39,316.46		39,316.46		0.00
M-5	3.30875%		14,600,000.00		37,572.69		0.00		0.00		0.00		37,572.69		37,572.69		0.00
M-6	3.40875%		13,232,000.00		35,081.34		0.00		0.00		0.00		35,081.34		35,081.34		0.00
B-1	3.85875%		11,862,000.00		35,600.83		0.00		0.00		0.00		35,600.83		35,600.83		0.00
B-2	3.97875%		7,756,000.00		24,001.59		0.00		0.00		0.00		24,001.59		24,001.59		0.00
B-3	4.85875%		9,126,000.00		34,487.41		0.00		0.00		0.00		34,487.41		34,487.41		0.00
X	202.11036%		20,075,053.00		0.00		0.00		0.00		0.00		0.00		3,155,737.09		0.00
UT-R	0.00000%		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00
P	0.00000%		0.00		0.00		0.00		0.00		0.00		0.00		143,947.30		0.00

Total			912,502,053.00		1,999,024.99		0.00		0.00		0.00		1,999,024.99		5,298,709.38		0.00



Page 3 of 24
Morgan Stanley Home Equity Loan Trust 2005-1

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2005-1

February 25, 2005 Distribution
Collection Account Report
SUMMARY
SUMMARY
										Group 2		Group 1		Total
Principal Collections										8,353,846.10		4,502,814.58		12,856,660.68
Principal Withrawals										0.00		0.00		0.00
Principal Other Accounts										132,225.54		527,568.39		659,793.93
TOTAL NET PRINCIPAL										8,486,071.64		5,030,382.97		13,516,454.61
Interest Collections										2,622,529.33		2,597,408.12		5,219,937.45
Interest Withdrawals										-0.00		-0.00		-0.00
Interest Other Accounts										0.00		0.00		143,947.30
Interest Fees										-33,049.49		-31,372.20		-64,421.69
TOTAL NET INTEREST										2,589,479.84		2,566,035.93		5,299,463.06
TOTAL AVAILABLE FUNDS FOR DISTRIBUTION										11,075,551.48		7,596,418.90		18,815,917.67



PRINCIPAL - COLLECTIONS
PRINCIPAL - COLLECTIONS
											Group 2		Group 1		Total
Scheduled Principal Received											272,605.28		254,564.70		527,169.98
Prepayments In Full											8,063,731.44		4,227,288.19		12,291,019.63
Curtailments											17,509.38		20,961.69		38,471.07
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											-231,110.83		-217,310.82		-448,421.65
Advanced Principal											231,110.83		217,310.82		448,421.65
TOTAL PRINCIPAL COLLECTED											8,353,846.10		4,502,814.58		12,856,660.68


PRINCIPAL - WITHDRAWALS

SPACE INTENTIONALLY LEFT BLANK



PRINCIPAL - OTHER ACCOUNTS
PRINCIPAL - OTHER ACCOUNTS
										Group 2		Group 1		Total
Closing Deposit										132,225.54		527,568.39		659,793.93
TOTAL OTHER ACCOUNTS PRINCIPAL										132,225.54		527,568.39		659,793.93





Page 4 of 24
Morgan Stanley Home Equity Loan Trust 2005-1

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2005-1

February 25, 2005 Distribution

INTEREST - COLLECTIONS
INTEREST - COLLECTIONS
										Group 2		Group 1		Total
Scheduled Interest										2,783,903.31		2,755,346.07		5,539,249.38
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										-7,010.70		-4,615.78		-11,626.48
Compensating Interest										7,010.70		4,615.78		11,626.48
Delinquent Interest										-2,336,110.52		-2,326,428.64		-4,662,539.16
Interest Advanced										2,174,736.54		2,168,490.69		4,343,227.23
TOTAL INTEREST COLLECTED										2,622,529.33		2,597,408.12		5,219,937.45


INTEREST - WITHDRAWALS
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
INTEREST - OTHER ACCOUNTS
										Group 2		Group 1		Total
Prepayment Charges														143,947.30
TOTAL INTEREST OTHER ACCOUNTS										0.00		0.00		143,947.30



INTEREST - FEES
INTEREST - FEES
										Group 2		Group 1		Total
Current Servicing Fees										31,124.51		29,497.84		60,622.34
Current Trustee Fees										1,924.98		1,874.36		3,799.34
TOTAL INTEREST OTHER FEES										33,049.49		31,372.20		64,421.69




Page 5 of 24
Morgan Stanley Home Equity Loan Trust 2005-1

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2005-1

February 25, 2005 Distribution
Credit Enhancement Report
ACCOUNTS

SPACE INTENTIONALLY LEFT BLANK



INSURANCE

SPACE INTENTIONALLY LEFT BLANK



STRUCTURAL FEATURES
STRUCTURAL FEATURES
										Group 2		Group 1		Total
Overcollateralization Amount														20,075,053.13
Overcollateralization Target Amount														20,075,045.17
Overcollateralization Deficiency Amount														0.00
Overcollateralization Release Amount														7.96




Page 6 of 24
Morgan Stanley Home Equity Loan Trust 2005-1

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2005-1

February 25, 2005 Distribution
Collateral Report


COLLATERAL



											Group 2		Group 1		Total



Loan Count:


Original										2,955		3,568		6,523
Prior										2,955		3,568		6,523
Prefunding										0		0		0
Scheduled Paid Offs										-0		-0		-0
Full Voluntary Prepayments										-42		-28		-70
Repurchases										-0		-0		-0
Liquidations										-0		-0		-0
Current										2,913		3,540		6,453
Principal Balance:


Original										461,996,371.69		449,845,887.51		911,842,259.20
Prior										461,996,371.69		449,845,887.51		911,842,259.20
Prefunding										0.00		0.00		0.00
Scheduled Principal										-272,605.28		-254,564.70		-527,169.98
Partial Prepayments										-17,509.38		-20,961.69		-38,471.07
Full Voluntary Prepayments										-8,063,731.44		-4,227,288.19		-12,291,019.63
Repurchases										-0.00		-0.00		-0.00
Liquidations										-0.00		-0.00		-0.00
Current										453,642,525.59		445,343,072.93		898,985,598.52





PREFUNDING

SPACE INTENTIONALLY LEFT BLANK






Page 7 of 24
Morgan Stanley Home Equity Loan Trust 2005-1

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2005-1

February 25, 2005 Distribution

CHARACTERISTICS
CHARACTERISTICS
										Group 2		Group 1		Total
Weighted Average Coupon Original										7.23097%		7.35011%		7.28975%
Weighted Average Coupon Prior										7.23097%		7.35011%		7.28975%
Weighted Average Coupon Current										7.23097%		7.35011%		7.28975%
Weighted Average Months to Maturity Original										351		345		348
Weighted Average Months to Maturity Prior										351		345		348
Weighted Average Months to Maturity Current										351		345		348
Weighted Avg Remaining Amortization Term Original										351		345		348
Weighted Avg Remaining Amortization Term Prior										351		345		348
Weighted Avg Remaining Amortization Term Current										351		345		348
Weighted Average Seasoning Original										4.99		4.95		4.97
Weighted Average Seasoning Prior										4.99		4.95		4.97
Weighted Average Seasoning Current										4.99		4.95		4.97









Page 8 of 24
Morgan Stanley Home Equity Loan Trust 2005-1

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2005-1

February 25, 2005 Distribution

ARM CHARACTERISTICS
ARM CHARACTERISTICS
										Group 2		Group 1		Total
Weighted Average Margin Original										6.59175%		6.54028%		6.56751%
Weighted Average Margin Prior										6.59175%		6.54028%		6.56751%
Weighted Average Margin Current										6.59175%		6.54028%		6.56751%
Weighted Average Max Rate Original										13.92543%		13.84364%		13.88691%
Weighted Average Max Rate Prior										13.92543%		13.84364%		13.88691%
Weighted Average Max Rate Current										13.92543%		13.84364%		13.88691%
Weighted Average Min Rate Original										7.15325%		7.11240%		7.13401%
Weighted Average Min Rate Prior										7.15325%		7.11240%		7.13401%
Weighted Average Min Rate Current										7.15325%		7.11240%		7.13401%
Weighted Average Cap Up Original										1.06895%		1.05995%		1.06471%
Weighted Average Cap Up Prior										1.06895%		1.05995%		1.06471%
Weighted Average Cap Up Current										1.06895%		1.05995%		1.06471%
Weighted Average Cap Down Original										1.06895%		1.05995%		1.06471%
Weighted Average Cap Down Prior										1.06895%		1.05995%		1.06471%
Weighted Average Cap Down Current										1.06895%		1.05995%		1.06471%




SERVICING FEES & ADVANCES

											Group 2		Group 1		Total




Current Servicing Fees										31,124.51		29,497.84		60,622.34
Delinquent Servicing Fees										161,373.98		157,937.95		319,311.93
TOTAL SERVICING FEES										192,498.49		187,435.79		379,934.28


Compensating Interest										-7,010.70		-4,615.78		-11,626.48
Delinquent Servicing Fees										-161,373.98		-157,937.95		-319,311.93
COLLECTED SERVICING FEES										147,181.50		24,882.07		48,995.87


Aggregate Advances with respect to this Distribution										2,091,433.52		1,843,461.42		3,934,894.94





ADDITIONAL COLLATERAL INFORMATION
										Group 2		Group 1		Total
Net Prepayment Interest Shortfall										0.00		0.00		0.00
Libor For Current Period														2.558700%
Libor For Next Period														0.000000%
Libor For Class A-3b for current Period




Page 9 of 24
Morgan Stanley Home Equity Loan Trust 2005-1

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2005-1

February 25, 2005 Distribution
Delinquency Report

	TOTAL
					< 1 PAYMENT		1 PAYMENT		2 PAYMENTS		3+ PAYMENTS		TOTAL
	DELINQUENT		Balance				12,889,173.07		744,723.23		0.00		13,633,896.30
			% Balance				1.43%		0.08%		0.00%		1.52%
			# Loans				110		7		0		117
			% # Loans				1.70%		0.11%		0.00%		1.81%
	FORECLOSURE		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%
	BANKRUPTCY		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%
	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		0.00		12,889,173.07		744,723.23		0.00		13,633,896.30
			% Balance		0.00%		1.43%		0.08%		0.00%		1.52%
			# Loans		0		110		7		0		117
			% # Loans		0.00%		1.70%		0.11%		0.00%		1.81%








Page 10 of 24
Morgan Stanley Home Equity Loan Trust 2005-1

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2005-1

February 25, 2005 Distribution


	GROUP 1
					< 1 PAYMENT		1 PAYMENT		2 PAYMENTS		3+ PAYMENTS		TOTAL
	DELINQUENT		Balance				7,335,832.56		250,405.83		0.00		7,586,238.39
			% Balance				1.65%		0.06%		0.00%		1.70%
			# Loans				65		3		0		68
			% # Loans				1.84%		0.08%		0.00%		1.92%
	FORECLOSURE		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%
	BANKRUPTCY		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%
	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		0.00		7,335,832.56		250,405.83		0.00		7,586,238.39
			% Balance		0.00%		1.65%		0.06%		0.00%		1.70%
			# Loans		0		65		3		0		68
			% # Loans		0.00%		1.84%		0.08%		0.00%		1.92%










Page 11 of 24
Morgan Stanley Home Equity Loan Trust 2005-1

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2005-1

February 25, 2005 Distribution

	GROUP 2
					< 1 PAYMENT		1 PAYMENT		2 PAYMENTS		3+ PAYMENTS		TOTAL
	DELINQUENT		Balance				5,553,340.51		494,317.40		0.00		6,047,657.91
			% Balance				1.22%		0.11%		0.00%		1.33%
			# Loans				45		4		0		49
			% # Loans				1.54%		0.14%		0.00%		1.68%
	FORECLOSURE		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%
	BANKRUPTCY		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%
	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		0.00		5,553,340.51		494,317.40		0.00		6,047,657.91
			% Balance		0.00%		1.22%		0.11%		0.00%		1.33%
			# Loans		0		45		4		0		49
			% # Loans		0.00%		1.54%		0.14%		0.00%		1.68%









Page 12 of 24
Morgan Stanley Home Equity Loan Trust 2005-1

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2005-1

February 25, 2005 Distribution
REO Report
Loan Number			Original		Stated				Current		State &				First
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
											Origination









Page 13 of 24
Morgan Stanley Home Equity Loan Trust 2005-1

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2005-1

February 25, 2005 Distribution
Foreclosure Report
Loan Number			Original		Stated				Current		State &				First
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
											Origination








Page 14 of 24
Morgan Stanley Home Equity Loan Trust 2005-1

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2005-1

February 25, 2005 Distribution
Prepayment Report

VOLUNTARY PREPAYMENTS
VOLUNTARY PREPAYMENTS

											Group 2		Group 1		Total




Current


Number of Paid in Full Loans										42		28		70
Number of Repurchased Loans										0		0		0
Total Number of Loans Prepaid in Full										42		28		70
Curtailments Amount										17,509.38		20,961.69		38,471.07
Paid in Full Balance										8,063,731.44		4,227,288.19		12,291,019.63
Repurchased Loans Balance										0.00		0.00		0.00
Total Prepayment Amount										8,081,240.82		4,248,249.88		12,329,490.70

Cumulative


Number of Paid in Full Loans										42		28		70
Number of Repurchased Loans										0		0		0
Total Number of Loans Prepaid in Full										42		28		70
Paid in Full Balance										8,063,731.44		4,227,288.19		12,291,019.63
Repurchased Loans Balance										0.00		0.00		0.00
Curtailments Amount										17,509.38		20,961.69		38,471.07
Total Prepayment Amount										8,081,240.82		4,248,249.88		12,329,490.70










Page 15 of 24
Morgan Stanley Home Equity Loan Trust 2005-1

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2005-1

February 25, 2005 Distribution

VOLUNTARY PREPAYMENTS RATES
VOLUNTARY PREPAYMENTS RATES

											Group 2		Group 1		Total



SMM										1.75%		0.94%		1.35%
3 Months Avg SMM										1.75%		0.94%		1.35%
12 Months Avg SMM										1.75%		0.94%		1.35%
Avg SMM Since Cut-off										1.75%		0.94%		1.35%


CPR										19.09%		10.77%		15.08%
3 Months Avg CPR										19.09%		10.77%		15.08%
12 Months Avg CPR										19.09%		10.77%		15.08%
Avg CPR Since Cut-off										19.09%		10.77%		15.08%


PSA										1,913.74%		1,087.57%		1,517.17%
3 Months Avg PSA Approximation										1,913.74%		1,087.56%		1,517.16%
12 Months Avg PSA Approximation										1,913.74%		1,087.56%		1,517.16%
Avg PSA Since Cut-off Approximation										1,913.74%		1,087.56%		1,517.16%










Page 16 of 24
Morgan Stanley Home Equity Loan Trust 2005-1

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2005-1

February 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 17 of 24
Morgan Stanley Home Equity Loan Trust 2005-1

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2005-1

February 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 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





SPACE INTENTIONALLY LEFT BLANK


TOTAL


Page 18 of 24
Morgan Stanley Home Equity Loan Trust 2005-1

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2005-1

February 25, 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

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 19 of 24
Morgan Stanley Home Equity Loan Trust 2005-1

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2005-1

February 25, 2005 Distribution


DEFAULT SPEEDS



											Group 2		Group 1		Total



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


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


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


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












Page 20 of 24
Morgan Stanley Home Equity Loan Trust 2005-1

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2005-1

February 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(Principal 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 do not include realized gains, or additional realized losses/gains from prior periods.
	Dates correspond to distribution dates.




Page 21 of 24
Morgan Stanley Home Equity Loan Trust 2005-1

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2005-1

February 25, 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 22 of 24
Morgan Stanley Home Equity Loan Trust 2005-1

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2005-1

February 25, 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
						Three Month Rolling Average 60+ days Delinquent								0.00
						Ending Balance								898,985,598.52
						Prior Period Senior Enhancement Percentage								18.4500%



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
Excess Reserve Fund Account Balance										0.00		0.00		0.00



Page 23 of 24
Morgan Stanley Home Equity Loan Trust 2005-1

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2005-1

February 25, 2005 Distribution
Other Related Information
ADDITIONAL INFORMATION
ADDITIONAL INFORMATION
										Group 2		Group 1		Total
Current Scheduled Payments										3,056,508.59		3,009,910.77		6,066,419.36
Current Scheduled Payments 1 Month Prior										0.00		0.00		0.00
Current Scheduled Payments 2 Month Prior										0.00		0.00		0.00
Current Scheduled Payments 3 Month Prior										0.00		0.00		0.00
Current Scheduled Payments 4 Month Prior										0.00		0.00		0.00
Current Scheduled Payments 5 Month Prior										0.00		0.00		0.00
Current Scheduled Payments 6 Month Prior										0.00		0.00		0.00
Current Scheduled Payments 7 Month Prior										0.00		0.00		0.00
Current Scheduled Payments 8 Month Prior										0.00		0.00		0.00
Current Scheduled Payments 9 Month Prior										0.00		0.00		0.00
Current Scheduled Payments 10 Month Prior										0.00		0.00		0.00
Current Scheduled Payments 11 Month Prior										0.00		0.00		0.00





Sched. Payments for 60+Day Delinquent Loans										3,729.06		1,769.77		5,498.83
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 24 of 24

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