Morgan Stanley ABS Capital I Inc. 2006-NC1

Mortgage Pass-Through Certificates

June 26, 2006 Distribution

External Parties

Table of Contents

Page

Seller

Morgan Stanley

1. Certificate Payment Report

2. Collection Account Report

Servicer(s)

3. Credit Enhancement Report

J P Morgan Chase

4. Collateral Report

5. Delinquency Report

Underwriter(s)

6. REO Report

Morgan Stanley

7. Foreclosure Report

8. Prepayment Report

9. Prepayment Detail Report

10. Realized Loss Report

11. Realized Loss Detail Report

12. Triggers and Adj. Cert. Report

13. Additional Reports

14. Other Related Information

Total Number of Pages

Dates

Contacts

Cut-Off Date:

January 01, 2006

Eiko Akiyama

Close Date:

January 27, 2006

Administrator

First Distribution Date:

February 27, 2006

(714) 247-6328

Eiko.Akiyama@db.com

Address:

Distribution Date:

June 26, 2006

1761 East St. Andrew Place, Santa Ana, CA 92705

Record Date:

May 31, 2006

Factor Information:

(800) 735-7777

June 23, 2006

Main Phone Number:

(714) 247-6000

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

Page 1 of 27

Morgan Stanley ABS Capital I Inc. 2006-NC1



Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
June 26, 2006 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)
			(1)	(2)	(3)	(4)=(2)+(3)	(5)	(6)	(7)=(1)-(3)-(5)+(6)
A-1	FLT	$	512,080,000.00	411,779,541.75	1,889,153.03	32,821,498.54	34,710,651.57	0.00	0.00	378,958,043.21
A-1	FLT	$	512,080,000.00	411,779,541.75	1,889,153.03	32,821,498.54	34,710,651.57	0.00	0.00	378,958,043.21
A-2	FLT	$	156,440,000.00	156,440,000.00	726,055.42	0.00	726,055.42	0.00	0.00	156,440,000.00
A-3	FLT	$	217,370,000.00	217,370,000.00	1,018,499.21	0.00	1,018,499.21	0.00	0.00	217,370,000.00
A-4	FLT	$	136,726,000.00	136,726,000.00	654,006.03	0.00	654,006.03	0.00	0.00	136,726,000.00
M-1	MEZ	$	44,067,000.00	44,067,000.00	213,920.80	0.00	213,920.80	0.00	0.00	44,067,000.00
M-2	MEZ	$	40,827,000.00	40,827,000.00	198,918.22	0.00	198,918.22	0.00	0.00	40,827,000.00
M-3	MEZ	$	23,977,000.00	23,977,000.00	117,247.53	0.00	117,247.53	0.00	0.00	23,977,000.00
M-4	MEZ	$	20,737,000.00	20,737,000.00	103,247.22	0.00	103,247.22	0.00	0.00	20,737,000.00
M-5	MEZ	$	20,737,000.00	20,737,000.00	103,800.21	0.00	103,800.21	0.00	0.00	20,737,000.00
M-6	MEZ	$	18,793,000.00	18,793,000.00	95,906.94	0.00	95,906.94	0.00	0.00	18,793,000.00
B-1	MEZ	$	18,145,000.00	18,145,000.00	102,116.03	0.00	102,116.03	0.00	0.00	18,145,000.00
B-2	MEZ	$	16,201,000.00	16,201,000.00	94,055.81	0.00	94,055.81	0.00	0.00	16,201,000.00
B-3	MEZ	$	13,609,000.00	13,609,000.00	88,080.47	0.00	88,080.47	0.00	0.00	13,609,000.00
X	R	$	56,382,575.00	56,379,983.51	1,950,272.24	0.00	1,950,272.24	0.00	0.00	56,379,983.51
P	R	$	0.00	0.00	540,188.13	0.00	540,188.13	0.00	0.00	0.00
R	R	$	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00


Total		1,296,091,575.00	1,195,788,525.26	7,895,467.29	32,821,498.54	40,716,965.83	0.00	0.00	1,162,967,026.72
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
Class	Starting	Ending	Method	Cusip	Balance	Balance	Interest	Principal	Distribution	Balance
			Method
					(1)	(1)	(2)	(3)	(4)=(2)+(3)	(5)

A-1	05/25/06	06/25/06	A-Act/360	61744CXX9	512,080,000.00	804.131272	3.689176	64.094475	67.783650	740.036797
A-1	05/25/06	06/25/06	A-Act/360	61744CXX9	512,080,000.00	804.131272	3.689176	64.094475	67.783650	740.036797
A-2	05/25/06	06/25/06	A-Act/360	61744CXY7	156,440,000.00	1,000.000000	4.641111	0.000000	4.641111	1,000.000000
A-3	05/25/06	06/25/06	A-Act/360	61744CXZ4	217,370,000.00	1,000.000000	4.685556	0.000000	4.685556	1,000.000000
A-4	05/25/06	06/25/06	A-Act/360	61744CYA8	136,726,000.00	1,000.000000	4.783333	0.000000	4.783333	1,000.000000
M-1	05/25/06	06/25/06	A-Act/360	61744CYB6	44,067,000.00	1,000.000000	4.854444	0.000000	4.854444	1,000.000000
M-2	05/25/06	06/25/06	A-Act/360	61744CYC4	40,827,000.00	1,000.000000	4.872222	0.000000	4.872222	1,000.000000
M-3	05/25/06	06/25/06	A-Act/360	61744CYD2	23,977,000.00	1,000.000000	4.890000	0.000000	4.890000	1,000.000000
M-4	05/25/06	06/25/06	A-Act/360	61744CYE0	20,737,000.00	1,000.000000	4.978889	0.000000	4.978889	1,000.000000
M-5	05/25/06	06/25/06	A-Act/360	61744CYF7	20,737,000.00	1,000.000000	5.005556	0.000000	5.005556	1,000.000000
M-6	05/25/06	06/25/06	A-Act/360	61744CYG5	18,793,000.00	1,000.000000	5.103333	0.000000	5.103333	1,000.000000
B-1	05/25/06	06/25/06	A-Act/360	61744CYH3	18,145,000.00	1,000.000000	5.627778	0.000000	5.627778	1,000.000000
B-2	05/25/06	06/25/06	A-Act/360	61744CYJ9	16,201,000.00	1,000.000000	5.805556	0.000000	5.805556	1,000.000000
B-3	05/25/06	06/25/06	A-Act/360	61744CYK6	13,609,000.00	1,000.000000	6.472222	0.000000	6.472222	1,000.000000
X	05/25/06	06/25/06	F-Act/360		56,382,575.00	999.954037	34.589982	0.000000	34.589982	999.954037
P	05/25/06	06/24/06	F-30/360		0.00	0.000000	0.000000	0.000000	0.000000	0.000000
R	05/25/06	06/24/06	F-30/360		0.00	0.000000	0.000000	0.000000	0.000000	0.000000




Page 2 of 27

Morgan Stanley ABS Capital I Inc. 2006-NC1



Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
June 26, 2006 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	512,080,000.00	9,502,180.07	129,447,955.90	3,674,000.90	133,121,956.79	142,624,136.86	0.00	0.00	378,958,043.21
A-2	156,440,000.00	3,220,512.12	0.00	0.00	0.00	3,220,512.12	0.00	0.00	156,440,000.00
A-3	217,370,000.00	4,520,117.44	0.00	0.00	0.00	4,520,117.44	0.00	0.00	217,370,000.00
A-4	136,726,000.00	2,905,825.55	0.00	0.00	0.00	2,905,825.55	0.00	0.00	136,726,000.00
M-1	44,067,000.00	951,241.04	0.00	0.00	0.00	951,241.04	0.00	0.00	44,067,000.00
M-2	40,827,000.00	884,703.87	0.00	0.00	0.00	884,703.87	0.00	0.00	40,827,000.00
M-3	23,977,000.00	521,569.56	0.00	0.00	0.00	521,569.56	0.00	0.00	23,977,000.00
M-4	20,737,000.00	459,730.54	0.00	0.00	0.00	459,730.54	0.00	0.00	20,737,000.00
M-5	20,737,000.00	462,322.67	0.00	0.00	0.00	462,322.67	0.00	0.00	20,737,000.00
M-6	18,793,000.00	427,595.45	0.00	0.00	0.00	427,595.45	0.00	0.00	18,793,000.00
B-1	18,145,000.00	457,458.05	0.00	0.00	0.00	457,458.05	0.00	0.00	18,145,000.00
B-2	16,201,000.00	421,948.22	0.00	0.00	0.00	421,948.22	0.00	0.00	16,201,000.00
B-3	13,609,000.00	396,968.78	0.00	0.00	0.00	396,968.78	0.00	0.00	13,609,000.00
X	56,382,575.00	10,839,567.74	2,381.30	210.17	2,591.49	10,842,159.23	0.00	0.00	56,379,983.51
P	0.00	1,872,026.55	0.00	0.00	0.00	1,872,026.55	0.00	0.00	0.00
R	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00


Total	1,296,091,575.00	37,843,767.65	129,450,337.20	3,674,211.07	133,124,548.28	170,968,315.93	0.00	0.00	1,162,967,026.72


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	5.16125%	411,779,541.75	1,889,153.03	0.00	0.00	0.00	1,889,153.03	1,889,153.03	0.00
A-2	5.22125%	156,440,000.00	726,055.42	0.00	0.00	0.00	726,055.42	726,055.42	0.00
A-3	5.27125%	217,370,000.00	1,018,499.21	0.00	0.00	0.00	1,018,499.21	1,018,499.21	0.00
A-4	5.38125%	136,726,000.00	654,006.03	0.00	0.00	0.00	654,006.03	654,006.03	0.00
M-1	5.46125%	44,067,000.00	213,920.80	0.00	0.00	0.00	213,920.80	213,920.80	0.00
M-2	5.48125%	40,827,000.00	198,918.22	0.00	0.00	0.00	198,918.22	198,918.22	0.00
M-3	5.50125%	23,977,000.00	117,247.53	0.00	0.00	0.00	117,247.53	117,247.53	0.00
M-4	5.60125%	20,737,000.00	103,247.22	0.00	0.00	0.00	103,247.22	103,247.22	0.00
M-5	5.63125%	20,737,000.00	103,800.21	0.00	0.00	0.00	103,800.21	103,800.21	0.00
M-6	5.74125%	18,793,000.00	95,906.94	0.00	0.00	0.00	95,906.94	95,906.94	0.00
B-1	6.33125%	18,145,000.00	102,116.03	0.00	0.00	0.00	102,116.03	102,116.03	0.00
B-2	6.36633%	16,201,000.00	91,680.86	0.00	0.00	0.00	91,680.86	94,055.81	0.00
B-3	6.36633%	13,609,000.00	77,012.83	0.00	0.00	0.00	77,012.83	88,080.47	0.00
X	38.91552%	56,379,983.51	0.00	0.00	0.00	0.00	0.00	1,950,272.24	0.00
P	0.00000%	0.00	0.00	0.00	0.00	0.00	0.00	540,188.13	0.00
R	0.00000%	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00


Total		1,195,788,525.26	5,391,564.33	0.00	0.00	0.00	5,391,564.33	7,895,467.29	0.00



Page 3 of 27

Morgan Stanley ABS Capital I Inc. 2006-NC1

Mortgage Pass-Through Certificates

June 26, 2006 Distribution

Collection Account Report

SUMMARY

Total

Principal Collections

32,821,498.54

Principal Withrawals

0.00

Principal Other Accounts

0.00

TOTAL NET PRINCIPAL

32,821,498.54

Interest Collections

6,842,059.78

Interest Withdrawals

-0.00

Interest Other Accounts

1,128,544.10

Interest Fees

-75,136.59

TOTAL NET INTEREST

7,895,467.29

TOTAL AVAILABLE FUNDS FOR DISTRIBUTION

40,716,965.83

PRINCIPAL - COLLECTIONS

Total

Scheduled Principal Received

706,055.15

Prepayments In Full

32,036,122.51

Curtailments

79,320.88

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

-620,151.47

Advanced Principal

620,151.47

TOTAL PRINCIPAL COLLECTED

32,821,498.54

PRINCIPAL - WITHDRAWALS

SPACE INTENTIONALLY LEFT BLANK

PRINCIPAL - OTHER ACCOUNTS

Total

Closing Deposit

0.00

TOTAL OTHER ACCOUNTS PRINCIPAL

0.00

Page 4 of 27

Morgan Stanley ABS Capital I Inc. 2006-NC1

Mortgage Pass-Through Certificates

June 26, 2006 Distribution

INTEREST - COLLECTIONS

Total

Scheduled Interest

7,274,348.22

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

-21,798.51

Compensating Interest

21,798.52

Delinquent Interest

-6,238,691.13

Interest Advanced

5,806,402.69

Interest Loss

0.00

TOTAL INTEREST COLLECTED

6,842,059.78

INTEREST - WITHDRAWALS

Total

Nonrecoverable Advances

0.00

TOTAL INTEREST WITHDRAWALS

0.00

INTEREST - OTHER ACCOUNTS

Total

Prepayment Charges

540,188.13

Interest Rate Swap Receipt

4,759,536.32

Interest Rate Swap Payment

-4,171,180.36

Swap Termination Payment

0.00

Defaulted Swap Termination Payment

0.00

TOTAL INTEREST OTHER ACCOUNTS

1,128,544.10

NET SWAP PAYMENT

588,355.97

INTEREST FEES

Total

Current Servicing Fees

71,648.87

Current Trustee Fees

3,487.72

TOTAL INTEREST OTHER FEES

75,136.59

Page 5 of 27

Morgan Stanley ABS Capital I Inc. 2006-NC1

Mortgage Pass-Through Certificates

June 26, 2006 Distribution

Credit Enhancement Report

ACCOUNTS

EXCESS RESERVE FUND ACCOUNT

Beginning Account Balance

0.00

Account Deposit

13,459.35

Account Payment Due

0.00

Account Withdrawls

13,459.35

Ending Account Balance

0.00

SWAP ACCOUNT

Beginning Account Balance

0.00

Account Deposit

588,355.97

Account Payment Due

588,355.97

Account Withdrawls

588,355.97

Ending Account Balance

0.00

INSURANCE

SPACE INTENTIONALLY LEFT BLANK

STRUCTURAL FEATURES

Total

Overcollateralization Amount

56,379,983.51

Overcollateralization Target Amount

56,379,983.51

Overcollateralization Deficiency Amount

0.00

Overcollateralization Release Amount

0.00

Page 6 of 27

Morgan Stanley ABS Capital I Inc. 2006-NC1

Mortgage Pass-Through Certificates

June 26, 2006 Distribution

Collateral Report

COLLATERAL

Total

Loan Count:

Original

6,410

Prior

5,977

Prefunding

Scheduled Paid Offs

-0

Full Voluntary Prepayments

-136

Repurchases

-0

Liquidations

-0

Current

5,841

Principal Balance:

Original

1,296,091,000.62

Prior

1,195,788,525.26

Prefunding

1,296,091,575.00

Scheduled Principal

-706,055.15

Partial Prepayments

-79,320.88

Full Voluntary Prepayments

-32,036,122.51

Repurchases

-0.00

Liquidations

-0.00

Current

1,162,967,026.72

PREFUNDING

SPACE INTENTIONALLY LEFT BLANK

Page 7 of 27

Morgan Stanley ABS Capital I Inc. 2006-NC1



Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
June 26, 2006 Distribution


CHARACTERISTICS
CHARACTERISTICS

							Total
Weighted Average Coupon Original							7.33214%
Weighted Average Coupon Prior							7.30691%
Weighted Average Coupon Current							7.30017%
Weighted Average Months to Maturity Original							354
Weighted Average Months to Maturity Prior							351
Weighted Average Months to Maturity Current							350
Weighted Avg Remaining Amortization Term Original							354
Weighted Avg Remaining Amortization Term Prior							351
Weighted Avg Remaining Amortization Term Current							350
Weighted Average Seasoning Original							4.51
Weighted Average Seasoning Prior							7.51
Weighted Average Seasoning Current							8.51

Page 8 of 27

Morgan Stanley ABS Capital I Inc. 2006-NC1

Mortgage Pass-Through Certificates

June 26, 2006 Distribution

ARM CHARACTERISTICS

Total

Weighted Average Margin Original

5.95651%

Weighted Average Margin Prior

5.95338%

Weighted Average Margin Current

5.95161%

Weighted Average Max Rate Original

14.26294%

Weighted Average Max Rate Prior

14.23630%

Weighted Average Max Rate Current

14.22807%

Weighted Average Min Rate Original

7.26672%

Weighted Average Min Rate Prior

7.23999%

Weighted Average Min Rate Current

7.23133%

Weighted Average Cap Up Original

1.49811%

Weighted Average Cap Up Prior

1.49816%

Weighted Average Cap Up Current

1.49837%

Weighted Average Cap Down Original

1.49811%

Weighted Average Cap Down Prior

1.49816%

Weighted Average Cap Down Current

1.49837%

SERVICING FEES & ADVANCES

Total

Current Servicing Fees

71,648.87

Delinquent Servicing Fees

426,596.35

TOTAL SERVICING FEES

498,245.22

Compensating Interest

-21,798.52

Delinquent Servicing Fees

-426,596.35

COLLECTED SERVICING FEES

49,850.35

Total Servicing Fees

498,245.22

Aggregate Advances with respect to this Distribution

6,426,554.16

ADDITIONAL COLLATERAL INFORMATION

Total

Net Prepayment Interest Shortfall

0.00

Page 9 of 27

Morgan Stanley ABS Capital I Inc. 2006-NC1



Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
June 26, 2006 Distribution

Delinquency Report


TOTAL	<31 Days	31-60 Days	61-90 Days	91-120 Days	121-150 Days	151-180 Days	181-210 Days	211-240 Days	240+ Days	TOTAL
	<31 Days	31-60 Days	61-90 Days	91-120 Days	121-150 Days	151-180 Days	181-210 Days	211-240 Days	240+ Days	TOTAL
DELINQUENT Balance % Balance # Loans % # Loans
		25,533,931.41	3,895,659.66	1,051,391.20	1,149,972.58	890,712.28	0.00	0.00	0.00	32,521,667.13
		2.20%	0.33%	0.09%	0.10%	0.08%	0.00%	0.00%	0.00%	2.80%
		133	23	7	5	6	0	0	0	174
		2.28%	0.39%	0.12%	0.09%	0.10%	0.00%	0.00%	0.00%	2.98%
FORECLOSURE Balance % Balance # Loans % # Loans
	518,721.54	0.00	2,384,637.26	4,351,900.19	2,694,278.90	4,341,506.35	638,880.06	0.00	0.00	14,929,924.30
	0.04%	0.00%	0.21%	0.37%	0.23%	0.37%	0.05%	0.00%	0.00%	1.28%
	3	0	13	18	16	23	2	0	0	75
	0.05%	0.00%	0.22%	0.31%	0.27%	0.39%	0.03%	0.00%	0.00%	1.28%
BANKRUPTCY Balance % Balance # Loans % # Loans
	2,257,859.97	0.00	0.00	0.00	70,330.98	0.00	0.00	0.00	0.00	2,328,190.95
	0.19%	0.00%	0.00%	0.00%	0.01%	0.00%	0.00%	0.00%	0.00%	0.20%
	10	0	0	0	1	0	0	0	0	11
	0.17%	0.00%	0.00%	0.00%	0.02%	0.00%	0.00%	0.00%	0.00%	0.19%
REO Balance % Balance # Loans % # Loans
	0.00	0.00	0.00	0.00	0.00	52,351.88	0.00	0.00	0.00	52,351.88
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
	0	0	0	0	0	1	0	0	0	1
	0.00%	0.00%	0.00%	0.00%	0.00%	0.02%	0.00%	0.00%	0.00%	0.02%
TOTAL Balance % Balance # Loans % # Loans
	2,776,581.51	25,533,931.41	6,280,296.92	5,403,291.39	3,914,582.46	5,284,570.51	638,880.06	0.00	0.00	49,832,134.26
	0.24%	2.20%	0.54%	0.46%	0.34%	0.45%	0.05%	0.00%	0.00%	4.28%
	13	133	36	25	22	30	2	0	0	261
	0.22%	2.28%	0.62%	0.43%	0.38%	0.51%	0.03%	0.00%	0.00%	4.47%

Page 10 of 27

Morgan Stanley ABS Capital I Inc. 2006-NC1

Mortgage Pass-Through Certificates

June 26, 2006 Distribution

REO Report

Loan Number

Original

Stated

Current

State &

First

Principal

Paid to

Note

LTV at

Original

Payment

Loan Group

Balance

Date

Rate

Origination

Term

Date

Became REO Property this Period:

1003817338 1

52,650.00

52,351.88

01-Nov-2005

7.850%

MI - 90.00%

360

01-Nov-2005

TOTAL

52,650.00

52,351.88

Page 11 of 27

Morgan Stanley ABS Capital I Inc. 2006-NC1



Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
June 26, 2006 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

Became Foreclosure Property this Period:
2229291 1		218,500.00	218,487.65	01-Dec-2005	7.750%	NV - 95.00%	360	01-Nov-2005
1002870922 1		64,000.00	63,626.62	01-Dec-2005	7.700%	WI - 88.89%	360	01-Nov-2005
1002891847 1		233,100.00	230,915.20	01-Jan-2006	6.550%	FL - 84.30%	360	01-Sep-2005
1003030758 1		281,250.00	279,546.97	01-Jan-2006	8.300%	ME - 75.00%	360	01-Oct-2005
1003047722 1		359,910.00	358,340.51	01-Nov-2005	9.725%	FL - 90.00%	360	01-Oct-2005
1003080338 1		110,700.00	109,831.09	01-Feb-2006	6.800%	TN - 90.00%	360	01-Oct-2005
1003097491 1		63,000.00	62,740.47	01-Feb-2006	10.500%	CA - 20.00%	360	01-Oct-2005
1003103377 1		64,600.00	64,316.09	01-Feb-2006	9.100%	NE - 85.00%	360	01-Nov-2005
1003110369 1		481,500.00	478,422.92	01-Jan-2006	7.850%	CA - 90.00%	360	01-Oct-2005
1003157684 1		371,250.00	364,542.24	01-Apr-2006	6.000%	CA - 80.88%	360	01-Oct-2005
1003255113 1		50,000.00	49,734.72	01-Dec-2005	8.775%	TX - 69.44%	360	01-Oct-2005
1003285377 1		66,600.00	66,279.44	01-Nov-2005	9.250%	MI - 90.00%	360	01-Oct-2005
1003293741 1		231,000.00	229,410.15	01-Feb-2006	7.475%	CA - 67.94%	360	01-Oct-2005
1003316682 1		146,500.00	145,327.63	01-Dec-2005	6.700%	FL - 82.30%	360	01-Oct-2005
1003316897 1		64,800.00	64,463.19	01-Apr-2006	8.875%	TN - 90.00%	360	01-Oct-2005
1003339596 1		120,000.00	119,165.02	01-Feb-2006	6.800%	SC - 80.00%	360	01-Nov-2005
1003380442 1		26,980.00	26,897.86	01-Nov-2005	10.850%	IL - 20.00%	360	01-Nov-2005
1003402446 1		117,000.00	116,281.50	01-Feb-2006	8.050%	NJ - 63.24%	360	01-Oct-2005
1003482760 1		312,000.00	312,000.00	01-Feb-2006	6.990%	CA - 80.00%	360	01-Nov-2005
1003568366 1		524,000.00	524,000.00	01-Feb-2006	6.850%	CA - 80.00%	360	01-Nov-2005
1003573975 1		333,600.00	333,600.00	01-Nov-2005	6.450%	CA - 80.00%	360	01-Nov-2005
1003588861 1		68,800.00	68,390.64	01-Nov-2005	7.600%	KS - 80.00%	360	01-Nov-2005
1003593374 1		289,000.00	287,519.84	01-Feb-2006	8.350%	CA - 85.00%	360	01-Nov-2005
1003594104 1		101,600.00	100,933.05	01-Dec-2005	7.100%	SC - 80.00%	360	01-Nov-2005
1003605325 1		348,000.00	346,083.96	01-Dec-2005	7.990%	MA - 80.00%	360	01-Nov-2005
1003635141 1		127,800.00	126,993.31	01-Dec-2005	7.300%	FL - 90.00%	360	01-Nov-2005
1003641633 1		178,400.00	176,845.33	01-Feb-2006	6.190%	TN - 80.00%	360	01-Nov-2005
1003712977 1		155,000.00	154,189.96	01-Feb-2006	8.250%	CA - 74.88%	360	01-Nov-2005
1003757624 1		337,050.00	334,789.73	01-Jan-2006	6.990%	MA - 90.00%	360	01-Nov-2005
1003816302 1		112,500.00	111,901.03	01-Feb-2006	8.550%	OH - 75.00%	360	01-Nov-2005
1003847582 1		116,900.00	116,436.78	01-Feb-2006	9.600%	ID - 70.00%	360	01-Nov-2005
1004002796 1		372,000.00	372,000.00	01-Jan-2006	7.550%	GA - 80.00%	360	01-Nov-2005


TOTAL	6,447,340.00	6,414,012.90

Became Foreclosure Property in a Prior Period:
2202797 1		50,050.00	48,042.77	01-Jan-2006	10.050%	MI - 55.00%	120	01-Nov-2005
2218207 1		66,000.00	65,755.50	01-Nov-2005	10.500%	NV - 20.00%	360	01-Oct-2005
1002445955 1		73,950.00	73,494.38	01-Nov-2005	8.575%	OH - 85.00%	360	01-Sep-2005
1002663273 1		51,000.00	50,797.85	01-Jan-2006	9.600%	NC - 85.00%	360	01-Nov-2005
1002852096 1		175,500.00	174,154.79	01-Dec-2005	7.000%	MN - 90.00%	360	01-Oct-2005
1002894096 1		100,900.00	100,548.36	01-Dec-2005	11.300%	NY - 20.00%	360	01-Sep-2005
1002920003 1		192,510.00	191,452.13	01-Nov-2005	8.000%	CO - 93.00%	360	01-Nov-2005
1002923359 1		152,000.00	151,542.51	01-Oct-2005	10.900%	CA - 20.00%	360	01-Oct-2005
1002923359 1		152,000.00			10.900%	CA - 20.00%


Page 12 of 27

Morgan Stanley ABS Capital I Inc. 2006-NC1



Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
June 26, 2006 Distribution

Loan Number		Original	Stated		Current	State &		First
&		Principal	Principal	Paid to	Note	LTV at	Original	Payment
Loan Group		Balance	Balance	Date	Rate	Origination	Term	Date
						Origination
1002992916 1
1002992916 1		151,600.00	150,635.95	01-Nov-2005	7.875%	SC - 80.00%	360	01-Oct-2005

1003016621 1		53,600.00	53,599.06	01-Dec-2005	6.875%	OH - 80.00%	360	01-Sep-2005
1003065676 1		63,000.00	62,819.75	01-Nov-2005	11.700%	CA - 20.00%	360	01-Oct-2005
1003073337 1		90,000.00	89,716.11	01-Jun-2006	10.850%	CA - 20.00%	360	01-Nov-2005
1003089124 1		48,000.00	47,838.40	01-Nov-2005	10.950%	AZ - 20.00%	360	01-Oct-2005
1003119556 1		220,000.00	219,999.97	01-Jan-2006	6.250%	CA - 80.00%	360	01-Nov-2005
1003120090 1		55,000.00	54,859.20	01-Jan-2006	11.650%	CA - 20.00%	360	01-Nov-2005
1003136500 1		208,000.00	206,318.75	01-Nov-2005	6.650%	ME - 80.00%	360	01-Oct-2005
1003151528 1		109,000.00	108,322.62	01-Nov-2005	7.990%	IN - 82.58%	360	01-Oct-2005
1003168299 1		550,000.00	547,962.60	01-Dec-2005	10.500%	VA - 76.92%	360	01-Oct-2005
1003197105 1		125,600.00	124,691.77	01-Nov-2005	6.600%	FL - 80.00%	360	01-Nov-2005
1003214042 1		624,000.00	624,000.00	01-Jan-2006	6.990%	CA - 80.00%	360	01-Nov-2005
1003219083 1		150,000.00	148,626.30	01-Dec-2005	5.990%	MI - 87.72%	360	01-Oct-2005
1003247294 1		144,000.00	143,042.44	01-Jan-2006	7.650%	FL - 80.00%	360	01-Oct-2005
1003270695 1		150,000.00	148,972.70	01-Jan-2006	7.500%	FL - 68.18%	360	01-Oct-2005
1003277395 1		148,750.00	147,994.85	01-Nov-2005	8.990%	NE - 85.00%	360	01-Oct-2005
1003304640 1		102,000.00	101,335.00	01-Nov-2005	7.750%	OH - 100.00%	360	01-Oct-2005
1003380013 1		244,000.00	242,625.38	01-Jan-2006	7.875%	RI - 80.00%	360	01-Nov-2005
1003490485 1		70,200.00	69,751.32	01-Jan-2006	7.850%	OH - 90.00%	360	01-Oct-2005
1003519605 1		225,000.00	223,584.65	01-Jan-2006	7.750%	MD - 75.00%	360	01-Nov-2005
1003541135 1		182,750.00	181,814.05	01-Jan-2006	8.350%	CT - 85.00%	360	01-Nov-2005
1003594845 1		476,000.00	473,250.76	01-Nov-2005	7.750%	ME - 80.00%	360	01-Nov-2005
1003599715 1		80,500.00	80,006.59	01-Dec-2005	7.450%	OH - 84.74%	360	01-Nov-2005
1003604451 1		328,500.00	326,694.93	01-Nov-2005	8.000%	NV - 90.00%	360	01-Nov-2005
1003630609 1		552,000.00	551,816.23	01-Nov-2005	7.990%	NV - 80.00%	360	01-Nov-2005
1003639753 1		272,000.00	272,000.00	01-Jan-2006	6.550%	CA - 80.00%	360	01-Nov-2005
1003656010 1		268,000.00	267,999.99	01-Nov-2005	7.450%	AZ - 80.00%	360	01-Nov-2005
1003665509 1		489,950.00	487,337.55	01-Oct-2005	8.150%	WA - 100.00%	360	01-Nov-2005
1003675320 1		379,200.00	376,735.04	01-Jan-2006	7.150%	CA - 80.00%	360	01-Nov-2005
1003703727 1		188,000.00	187,210.94	01-Dec-2005	9.325%	CT - 85.69%	360	01-Nov-2005
1003714074 1		244,500.00	243,607.12	01-Dec-2005	9.990%	MD - 75.00%	360	01-Nov-2005
1003773107 1		200,000.00	198,786.25	01-Nov-2005	7.500%	GA - 80.00%	360	01-Nov-2005
1003814322 1		72,250.00	71,937.25	01-Nov-2005	9.175%	IN - 85.00%	360	01-Nov-2005
1003815170 1		318,750.00	316,853.39	01-Nov-2005	7.600%	MN - 85.00%	360	01-Nov-2005
1003985263 1		108,000.00	107,376.20	01-Dec-2005	7.750%	IL - 80.00%	360	01-Nov-2005


TOTAL	8,554,060.00	8,515,911.40


TOTAL	15,001,400.00	14,929,924.30
TOTAL


Page 13 of 27

Morgan Stanley ABS Capital I Inc. 2006-NC1

Mortgage Pass-Through Certificates

June 26, 2006 Distribution

Prepayment Report

VOLUNTARY PREPAYMENTS

Total

Current

Number of Paid in Full Loans

136

Number of Repurchased Loans

Total Number of Loans Prepaid in Full

136

Curtailments Amount

79,320.88

Paid in Full Balance

32,036,122.51

Repurchased Loans Balance

0.00

Total Prepayment Amount

32,115,443.39

Cumulative

Number of Paid in Full Loans

568

Number of Repurchased Loans

Total Number of Loans Prepaid in Full

568

Paid in Full Balance

128,924,470.63

Repurchased Loans Balance

0.00

Curtailments Amount

403,252.43

Total Prepayment Amount

129,327,723.06

Page 14 of 27

Morgan Stanley ABS Capital I Inc. 2006-NC1



Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
June 26, 2006 Distribution


VOLUNTARY PREPAYMENTS RATES



		Total





SMM	2.69%
3 Months Avg SMM	2.65%
12 Months Avg SMM	2.09%
Avg SMM Since Cut-off	2.09%



CPR	27.88%
3 Months Avg CPR	27.55%
12 Months Avg CPR	22.36%
Avg CPR Since Cut-off	22.36%



PSA	1,637.39%
3 Months Avg PSA Approximation	1,833.83%
12 Months Avg PSA Approximation	1,716.61%
Avg PSA Since Cut-off Approximation	1,716.61%

Page 15 of 27

Morgan Stanley ABS Capital I Inc. 2006-NC1

Mortgage Pass-Through Certificates

June 26, 2006 Distribution

PREPAYMENT CALCULATION METHODOLOGY

Single Monthly Mortality (SMM): (Voluntary partial and full prepayments + Repurchases + Liquidation Balance)/(Beg Principal Balance - Sched Principal)

Conditional Prepayment Rate (CPR): 1-((1-SMM)^12)

PSA Standard Prepayment Model: CPR/(0.02*min(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)

Average CPR over period between the nth month and mth month (AvgCPRn,m): 1-((1-AvgSMMn,m)^12)

Average PSA Approximation over period between the nth month and mth month: AvgCPRn,m/(0.02*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)

Note: Prepayment rates are calculated since deal issue date and include partial and full voluntary prepayments and repurchases.

Dates correspond to distribution dates.

Page 16 of 27

Morgan Stanley ABS Capital I Inc. 2006-NC1



Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
June 26, 2006 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	First
&	Loan	Principal	Prepayment		Prepayment	Note	LTV at	&	Payment
Loan Group	Status	Balance	Amount		Date	Rate	Origination	Original Term	Date

2159084 1		46,050.00	45,058.85	05-Jun-2006	11.700%	NJ - 15.00%	Paid Off - 180	01-Aug-2005
2159084 1		46,050.00	45,058.85	05-Jun-2006	11.700%	NJ - 15.00%	Paid Off - 180	01-Aug-2005
2181915 1		133,450.00	132,470.41	01-Jun-2006	7.150%	VT - 85.00%	Paid Off - 360	01-Sep-2005
2201509 1		67,500.00	67,203.30	10-May-2006	9.100%	IL - 90.00%	Paid Off - 360	01-Oct-2005
2216405 1		329,400.00	327,330.94	02-Jun-2006	7.325%	FL - 87.84%	Paid Off - 360	01-Oct-2005
2219257 1		149,500.00	148,447.45	02-Jun-2006	6.990%	FL - 65.00%	Paid Off - 360	01-Oct-2005
2219751 1		162,000.00	161,496.30	30-May-2006	10.100%	CA - 20.00%	Paid Off - 360	01-Nov-2005
2221996 1		193,500.00	193,500.00	25-May-2006	6.750%	AZ - 90.00%	Paid Off - 360	01-Nov-2005
2227059 1		131,000.00	131,000.00	12-Jun-2006	7.025%	NJ - 84.52%	Paid Off - 360	01-Nov-2005
2228545 1		76,000.00	75,802.81	16-May-2006	10.950%	WA - 16.00%	Paid Off - 360	01-Nov-2005
1001018552 1		543,600.00	543,600.00	16-May-2006	8.300%	CA - 90.00%	Paid Off - 360	01-Nov-2005
1001893963 1		128,000.00	122,388.89	31-May-2006	7.925%	FL - 77.58%	Paid Off - 360	01-Aug-2005
1002106241 1		265,000.00	264,756.81	25-May-2006	6.500%	NJ - 84.94%	Paid Off - 360	01-Sep-2005
1002259807 1		96,000.00	95,316.02	13-Jun-2006	7.850%	ME - 80.00%	Paid Off - 360	01-Aug-2005
1002447347 1		56,800.00	56,582.05	07-Jun-2006	10.850%	MD - 20.00%	Paid Off - 360	01-Aug-2005
1002557469 1		56,000.00	55,848.41	13-Jun-2006	10.750%	FL - 20.00%	Paid Off - 360	01-Nov-2005
1002640841 1		55,400.00	55,141.14	22-May-2006	9.600%	WA - 20.00%	Paid Off - 360	01-Sep-2005
1002807092 1		100,000.00	99,301.79	30-May-2006	8.225%	MA - 21.37%	Paid Off - 360	01-Sep-2005
1002867375 1		520,000.00	520,000.00	25-May-2006	6.750%	CA - 80.00%	Paid Off - 360	01-Oct-2005
1002867767 1		130,000.00	129,500.78	25-May-2006	9.750%	CA - 20.00%	Paid Off - 360	01-Oct-2005
1002872500 1		148,500.00	147,743.77	25-May-2006	8.975%	FL - 90.00%	Paid Off - 360	01-Sep-2005
1002877907 1		267,000.00	266,994.25	23-May-2006	6.990%	CA - 82.15%	Paid Off - 360	01-Oct-2005
1002915536 1		269,600.00	269,524.17	08-Jun-2006	6.750%	CA - 80.00%	Paid Off - 360	01-Oct-2005
1002915858 1		67,400.00	67,168.44	08-Jun-2006	11.000%	CA - 20.00%	Paid Off - 360	01-Oct-2005
1002918098 1		35,000.00	34,901.27	06-Jun-2006	11.200%	AZ - 20.00%	Paid Off - 360	01-Oct-2005
1002922243 1	FCL	437,924.00	437,923.99	06-Jun-2006	8.150%	NV - 80.00%	Paid Off - 360	01-Nov-2005
1002922813 1		109,481.00	109,251.70	06-Jun-2006	12.700%	NV - 20.00%	Paid Off - 360	01-Nov-2005
1002973768 1		104,000.00	103,543.24	13-Jun-2006	10.000%	NJ - 20.00%	Paid Off - 360	01-Oct-2005
1003004643 1		35,949.00	35,841.54	05-Jun-2006	11.500%	AZ - 20.00%	Paid Off - 360	01-Sep-2005
1003035548 1		331,200.00	331,168.37	13-Jun-2006	6.875%	NY - 80.00%	Paid Off - 360	01-Nov-2005
1003052145 1		360,000.00	354,848.09	24-May-2006	6.700%	CA - 80.00%	Paid Off - 360	01-Oct-2005
1003055954 1		99,000.00	98,465.71	06-Jun-2006	7.950%	MD - 72.26%	Paid Off - 360	01-Nov-2005
1003062429 1		592,000.00	588,264.80	25-May-2006	6.600%	CA - 80.00%	Paid Off - 360	01-Nov-2005
1003062447 1		135,000.00	134,290.94	01-Jun-2006	8.225%	NJ - 90.00%	Paid Off - 360	01-Oct-2005
1003062731 1		148,000.00	147,673.76	25-May-2006	11.700%	CA - 20.00%	Paid Off - 360	01-Nov-2005
1003062964 1		160,000.00	159,049.38	14-Jun-2006	7.150%	FL - 80.00%	Paid Off - 360	01-Nov-2005
1003083709 1		32,000.00	31,886.47	06-Jun-2006	10.400%	OR - 20.00%	Paid Off - 360	01-Oct-2005
1003112410 1		313,500.00	311,777.31	18-May-2006	8.000%	MA - 95.00%	Paid Off - 360	01-Oct-2005
1003119422 1		115,000.00	113,386.52	06-Jun-2006	7.925%	MD - 65.71%	Paid Off - 240	01-Oct-2005
1003120321 1		79,800.00	79,546.57	12-Jun-2006	10.000%	CA - 20.00%	Paid Off - 360	01-Nov-2005
1003144190 1		121,000.00	120,395.71	24-May-2006	8.475%	CA - 43.21%	Paid Off - 360	01-Oct-2005


Page 17 of 27

Morgan Stanley ABS Capital I Inc. 2006-NC1



Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
June 26, 2006 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	First
&	Loan	Principal	Prepayment		Prepayment	Note	LTV at	&	Payment
Loan Group	Status	Balance	Amount		Date	Rate	Origination	Original Term	Date

1003163980 1		300,000.00	298,384.22	24-May-2006	8.100%	NJ - 80.00%	Paid Off - 360	01-Oct-2005
1003163980 1		300,000.00	298,384.22	24-May-2006	8.100%	NJ - 80.00%	Paid Off - 360	01-Oct-2005
1003188268 1		76,000.00	75,581.56	07-Jun-2006	7.300%	MD - 50.67%	Paid Off - 360	01-Nov-2005
1003195731 1		113,000.00	112,371.64	06-Jun-2006	7.350%	FL - 61.41%	Paid Off - 360	01-Nov-2005
1003201092 1		616,000.00	615,999.95	13-Jun-2006	5.950%	CA - 70.40%	Paid Off - 360	01-Oct-2005
1003208175 1		182,750.00	181,713.41	19-May-2006	7.850%	OR - 81.58%	Paid Off - 360	01-Oct-2005
1003214266 1		372,000.00	369,178.39	30-May-2006	6.350%	CA - 89.64%	Paid Off - 360	01-Oct-2005
1003216255 1		156,000.00	154,914.58	22-May-2006	6.800%	MA - 80.00%	Paid Off - 360	01-Oct-2005
1003220954 1		378,750.00	376,210.02	01-Jun-2006	6.990%	CA - 75.00%	Paid Off - 360	01-Oct-2005
1003228545 1		486,000.00	486,000.00	31-May-2006	5.700%	CA - 90.00%	Paid Off - 360	01-Nov-2005
1003237312 1		230,000.00	228,588.15	31-May-2006	7.750%	CA - 49.46%	Paid Off - 360	01-Oct-2005
1003238794 1		122,000.00	120,226.01	16-May-2006	6.800%	NV - 62.56%	Paid Off - 360	01-Oct-2005
1003270891 1		184,000.00	183,045.08	05-Jun-2006	7.600%	AZ - 69.43%	Paid Off - 360	01-Nov-2005
1003271907 1		336,000.00	333,761.99	16-May-2006	7.025%	CA - 55.54%	Paid Off - 360	01-Oct-2005
1003278571 1		424,150.00	421,791.38	13-Jun-2006	7.250%	MD - 85.00%	Paid Off - 360	01-Nov-2005
1003279026 1		75,100.00	74,643.19	24-May-2006	6.950%	FL - 60.56%	Paid Off - 360	01-Nov-2005
1003279080 1	BK	270,900.00	265,015.04	08-Jun-2006	8.990%	FL - 58.89%	Paid Off - 180	01-Oct-2005
1003283262 1		621,000.00	621,000.00	05-Jun-2006	6.500%	CA - 48.33%	Paid Off - 360	01-Nov-2005
1003292298 1		153,000.00	151,904.25	02-Jun-2006	6.650%	MD - 75.00%	Paid Off - 360	01-Oct-2005
1003308968 1		202,500.00	201,142.00	01-Jun-2006	6.990%	WA - 90.00%	Paid Off - 360	01-Oct-2005
1003311446 1		120,000.00	119,407.41	30-May-2006	7.850%	FL - 80.00%	Paid Off - 360	01-Nov-2005
1003316192 1		136,000.00	135,250.48	26-May-2006	7.300%	FL - 85.00%	Paid Off - 360	01-Nov-2005
1003321667 1		432,000.00	429,991.32	08-Jun-2006	8.150%	CA - 90.00%	Paid Off - 360	01-Nov-2005
1003324487 1		416,500.00	405,172.41	18-May-2006	6.350%	MA - 65.08%	Paid Off - 180	01-Oct-2005
1003326494 1		359,000.00	357,785.69	31-May-2006	9.950%	MA - 100.00%	Paid Off - 360	01-Nov-2005
1003333538 1		225,000.00	223,309.56	07-Jun-2006	6.400%	CA - 65.22%	Paid Off - 360	01-Oct-2005
1003342733 1		240,000.00	240,000.00	07-Jun-2006	6.800%	AZ - 80.00%	Paid Off - 360	01-Oct-2005
1003347024 1		299,200.00	297,077.69	22-May-2006	6.700%	CA - 80.00%	Paid Off - 360	01-Oct-2005
1003354818 1	FCL	468,000.00	468,000.00	01-Jun-2006	7.800%	CA - 86.67%	Paid Off - 360	01-Oct-2005
1003364914 1		165,000.00	164,220.85	31-May-2006	8.750%	NC - 75.00%	Paid Off - 360	01-Oct-2005
1003407058 1		140,250.00	139,515.61	19-May-2006	7.925%	FL - 55.00%	Paid Off - 360	01-Nov-2005
1003425957 1		527,000.00	524,045.78	12-Jun-2006	7.900%	CA - 85.00%	Paid Off - 360	01-Oct-2005
1003431218 1		331,000.00	330,973.96	09-Jun-2006	6.250%	MD - 59.96%	Paid Off - 360	01-Nov-2005
1003439050 1		175,950.00	175,097.62	06-Jun-2006	8.000%	AZ - 85.00%	Paid Off - 360	01-Nov-2005
1003445089 1		198,000.00	197,049.26	16-May-2006	7.990%	CA - 82.50%	Paid Off - 360	01-Nov-2005
1003470586 1		121,500.00	120,906.57	15-Jun-2006	7.990%	FL - 90.00%	Paid Off - 360	01-Nov-2005
1003475885 1		286,000.00	284,195.53	15-Jun-2006	6.600%	IL - 89.94%	Paid Off - 360	01-Nov-2005
1003483439 1		228,000.00	226,997.19	07-Jun-2006	8.425%	NJ - 95.00%	Paid Off - 360	01-Nov-2005
1003486230 1		93,800.00	93,469.20	25-May-2006	9.500%	HI - 20.00%	Paid Off - 360	01-Nov-2005
1003492697 1		185,300.00	184,271.61	02-Jun-2006	7.950%	VA - 85.00%	Paid Off - 360	01-Oct-2005
1003503024 1		155,000.00	154,163.14	24-May-2006	7.400%	FL - 68.89%	Paid Off - 360	01-Nov-2005
1003509411 1		526,500.00	523,601.13	09-Jun-2006	7.990%	CA - 90.00%	Paid Off - 360	01-Oct-2005
1003513139 1		211,500.00	210,138.53	14-Jun-2006	7.200%	TN - 90.00%	Paid Off - 360	01-Oct-2005
1003513139 1			210,138.53		7.200%	TN - 90.00%	Paid Off - 360

Page 18 of 27

Morgan Stanley ABS Capital I Inc. 2006-NC1



Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
June 26, 2006 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	First
&	Loan	Principal	Prepayment		Prepayment	Note	LTV at	&	Payment
Loan Group	Status	Balance	Amount		Date	Rate	Origination	Original Term	Date

1003518492 1		102,600.00	101,984.58	22-May-2006	7.425%	WV - 90.00%	Paid Off - 360	01-Nov-2005
1003518492 1		102,600.00	101,984.58	22-May-2006	7.425%	WV - 90.00%	Paid Off - 360	01-Nov-2005
1003519204 1		157,500.00	156,705.69	30-May-2006	7.750%	OR - 90.00%	Paid Off - 360	01-Nov-2005
1003524537 1		162,900.00	161,755.59	13-Jun-2006	6.750%	WA - 90.00%	Paid Off - 360	01-Oct-2005
1003525965 1		118,800.00	118,280.07	18-May-2006	8.450%	ID - 88.00%	Paid Off - 360	01-Nov-2005
1003532724 1		589,500.00	589,500.00	01-Jun-2006	6.750%	CA - 90.00%	Paid Off - 360	01-Nov-2005
1003542358 1		246,400.00	245,254.34	02-Jun-2006	8.150%	MD - 80.00%	Paid Off - 360	01-Nov-2005
1003544123 1		200,000.00	199,241.66	07-Jun-2006	9.150%	OR - 80.00%	Paid Off - 360	01-Nov-2005
1003550151 1		216,000.00	214,856.57	30-May-2006	7.500%	HI - 90.00%	Paid Off - 360	01-Nov-2005
1003561817 1		484,500.00	484,499.97	12-Jun-2006	7.990%	IL - 85.00%	Paid Off - 360	01-Nov-2005
1003572397 1		93,500.00	92,463.48	05-Jun-2006	8.300%	NE - 85.00%	Paid Off - 360	01-Nov-2005
1003605897 1		133,200.00	132,589.95	05-Jun-2006	8.225%	VT - 90.00%	Paid Off - 360	01-Nov-2005
1003617321 1		260,800.00	259,090.12	19-May-2006	6.400%	CA - 64.40%	Paid Off - 360	01-Nov-2005
1003617508 1		245,100.00	243,994.31	14-Jun-2006	8.300%	CA - 95.00%	Paid Off - 360	01-Nov-2005
1003631332 1		461,700.00	459,799.37	01-Jun-2006	8.750%	CA - 89.62%	Paid Off - 360	01-Nov-2005
1003638086 1		328,000.00	328,000.00	09-Jun-2006	6.850%	CA - 50.46%	Paid Off - 360	01-Nov-2005
1003654405 1		361,250.00	359,375.20	22-May-2006	7.600%	NY - 85.00%	Paid Off - 360	01-Nov-2005
1003663770 1		286,000.00	284,217.20	31-May-2006	6.663%	AZ - 67.29%	Paid Off - 360	01-Nov-2005
1003665661 1		308,000.00	306,236.25	14-Jun-2006	7.100%	CA - 80.00%	Paid Off - 360	01-Nov-2005
1003669818 1		184,000.00	182,570.61	14-Jun-2006	5.500%	NY - 47.18%	Paid Off - 360	01-Nov-2005
1003677710 1		391,000.00	388,940.44	22-May-2006	7.525%	FL - 85.00%	Paid Off - 360	01-Nov-2005
1003685104 1		124,000.00	123,345.22	02-Jun-2006	8.075%	TX - 80.00%	Paid Off - 360	01-Nov-2005
1003691124 1		165,000.00	164,177.06	02-Jun-2006	7.800%	FL - 82.50%	Paid Off - 360	01-Nov-2005
1003698403 1		376,500.00	374,572.27	13-Jun-2006	8.050%	CA - 83.85%	Paid Off - 360	01-Nov-2005
1003699368 1		84,800.00	84,346.61	14-Jun-2006	7.450%	UT - 79.99%	Paid Off - 360	01-Nov-2005
1003701122 1		438,750.00	435,640.42	07-Jun-2006	5.990%	CA - 65.00%	Paid Off - 360	01-Nov-2005
1003704833 1		200,000.00	198,829.81	17-May-2006	6.990%	CA - 56.82%	Paid Off - 360	01-Nov-2005
1003714751 1		301,600.00	299,947.45	26-May-2006	7.325%	VA - 80.00%	Paid Off - 360	01-Nov-2005
1003718123 1		120,000.00	119,530.68	17-May-2006	9.000%	IA - 74.53%	Paid Off - 360	01-Nov-2005
1003728096 1		258,750.00	257,459.50	25-May-2006	7.800%	CA - 75.00%	Paid Off - 360	01-Nov-2005
1003728452 1		339,000.00	337,030.92	02-Jun-2006	7.350%	MA - 78.84%	Paid Off - 360	01-Nov-2005
1003741339 1		335,500.00	333,126.63	19-May-2006	6.000%	CA - 77.84%	Paid Off - 360	01-Nov-2005
1003760843 1		369,000.00	367,249.42	31-May-2006	8.050%	CA - 84.83%	Paid Off - 360	01-Nov-2005
1003767542 1		195,000.00	193,850.20	05-Jun-2006	6.950%	CA - 59.09%	Paid Off - 360	01-Nov-2005
1003774348 1		113,750.00	113,182.65	09-Jun-2006	7.800%	AZ - 65.00%	Paid Off - 360	01-Nov-2005
1003775007 1		160,389.00	159,470.52	01-Jun-2006	7.100%	OH - 67.39%	Paid Off - 360	01-Nov-2005
1003786807 1		386,000.00	383,724.00	30-May-2006	6.950%	NY - 77.98%	Paid Off - 360	01-Nov-2005
1003808721 1		422,500.00	420,077.18	02-Jun-2006	7.100%	CA - 65.00%	Paid Off - 360	01-Nov-2005
1003810978 1		150,000.00	149,036.71	18-May-2006	7.288%	IL - 88.24%	Paid Off - 360	01-Nov-2005
1003816990 1		83,250.00	83,007.08	23-May-2006	10.400%	MA - 15.00%	Paid Off - 360	01-Nov-2005
1003821485 1		68,000.00	67,783.60	17-May-2006	9.990%	AZ - 20.00%	Paid Off - 360	01-Nov-2005
1003832455 1		281,600.00	280,209.45	23-May-2006	7.850%	NJ - 80.00%	Paid Off - 360	01-Nov-2005
1003834284 1		549,000.00	546,316.01	18-May-2006	7.900%	CA - 90.00%	Paid Off - 360	01-Nov-2005
1003834284 1			546,316.01		7.900%	CA - 90.00%	Paid Off - 360

Page 19 of 27

Morgan Stanley ABS Capital I Inc. 2006-NC1

Mortgage Pass-Through Certificates

June 26, 2006 Distribution

Prepayment Detail Report - Mortgage Loans Prepaid in Full During Current Distribution

Loan Number

Original

Current

State &

Type Prepayment

First

Loan

Principal

Prepayment

Note

LTV at

Payment

Loan Group

Status

Balance

Amount

Date

Rate

Origination

Original Term

Date

1003836273 1

400,000.00

397,964.89

08-Jun-2006

7.700%

AZ - 80.00%

Paid Off - 360

01-Nov-2005

1003837209 1

440,000.00

436,948.47

18-May-2006

6.350%

CA - 80.00%

Paid Off - 360

01-Nov-2005

1003839813 1

144,900.00

144,402.19

14-Jun-2006

9.625%

AZ - 90.00%

Paid Off - 360

01-Nov-2005

1003841249 1

25,000.00

24,934.25

02-Jun-2006

10.950%

NC - 20.00%

Paid Off - 360

01-Nov-2005

1003842961 1

344,000.00

342,824.38

24-May-2006

9.650%

CA - 72.42%

Paid Off - 360

01-Nov-2005

1003847573 1

135,000.00

134,285.37

17-May-2006

7.500%

AZ - 84.38%

Paid Off - 360

01-Nov-2005

1003847877 1

338,000.00

335,405.87

15-Jun-2006

5.650%

CA - 77.70%

Paid Off - 360

01-Nov-2005

1003868078 1

289,000.00

287,228.57

25-May-2006

6.750%

NY - 79.18%

Paid Off - 360

01-Nov-2005

1003887057 1

269,000.00

267,590.04

14-Jun-2006

7.550%

MA - 78.65%

Paid Off - 360

01-Nov-2005

1003899464 1

115,000.00

114,271.61

18-May-2006

6.580%

WI - 76.16%

Paid Off - 360

01-Nov-2005

1003913411 1

94,000.00

93,616.97

12-Jun-2006

8.800%

FL - 66.20%

Paid Off - 360

01-Nov-2005

1003913858 1

212,000.00

210,877.76

06-Jun-2006

7.500%

CA - 80.00%

Paid Off - 360

01-Nov-2005

TOTAL

32,199,243.00

32,036,122.51

Page 20 of 27

Morgan Stanley ABS Capital I Inc. 2006-NC1

Mortgage Pass-Through Certificates

June 26, 2006 Distribution

Realized Loss Report

COLLATERAL REALIZED LOSSES

Total

Current

Subsequent Recoveries

0.00

Number of Loans Liquidated

Collateral Principal Realized Loss/(Gain) Amount

0.00

Collateral Interest Realized Loss/(Gain) Amount

0.00

Net Liquidation Proceeds

0.00

Cumulative

Number of Loans Liquidated

Collateral Realized Loss/(Gain) Amount

93,603.16

Net Liquidation Proceeds

28,436.60

Cumulative Subsequent Recoveries

0.00

Page 21 of 27

Morgan Stanley ABS Capital I Inc. 2006-NC1



Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
June 26, 2006 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								0.04%
12 Months Avg CDR								0.02%
Avg CDR Since Cut-off								0.02%


SDA								0.00%
3 Months Avg SDA Approximation								0.26%
12 Months Avg SDA Approximation								0.18%
Avg SDA Since Cut-off Approximation								0.18%


Loss Severity Approximation for Current Period								0.00%
3 Months Avg Loss Severity Approximation								25.57%
12 Months Avg Loss Severity Approximation								15.34%
Avg Loss Severity Approximation Since Cut-off								15.34%

Page 22 of 27

Morgan Stanley ABS Capital I Inc. 2006-NC1

Mortgage Pass-Through Certificates

June 26, 2006 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 23 of 27

Morgan Stanley ABS Capital I Inc. 2006-NC1

Mortgage Pass-Through Certificates

June 26, 2006 Distribution

Realized Loss Detail Report

Loan Number

Current

State &

Prior

Realized

Cumulative

Loan

Note

LTV at

Original

Principal

Loss/(Gain)

Realized

Loan Group

Status

Rate

Origination

Term

Balance

Revision

Loss/(Gain)

TOTAL

Page 24 of 27

Morgan Stanley ABS Capital I Inc. 2006-NC1

Mortgage Pass-Through Certificates

June 26, 2006 Distribution

Triggers and Adj. Cert. Report

TRIGGER EVENTS

Total

Stepdown Date has occurred

Distribution Date Feb 2009

Credit Enhancement Percentage (For Stepdown Date)

23.5151%

Applicable Percentage

42.2000%

Trigger Event in effect

Rolling 60+ Days Delinquent Balance

20,001,802.32

Ending Pool Balance

1,162,967,026.72

Delinquency Percentage

1.7199%

Prior Balance of Mezzanine and X

273,472,983.51

Prior Pool Balance

1,195,788,525.26

Prior Senior Credit Enhancement Percentage

22.8697%

Applicable % of Prior Credit Enhancement %

37.9000%

Cumulative Realized Loss

93,603.16

Realized Loss Percentage

0.0072%

Applicable Percentage

100.0000%

ADJUSTABLE RATE CERTIFICATE INFORMATION

SPACE INTENTIONALLY LEFT BLANK

ADDITIONAL INFORMATION

Total

Basic Principal Distribution Amount

32,821,498.54

Extra Principal Distribution Amount

0.00

Net Monthly Excess CashFlow

1,375,358.86

Pool Factor

89.728770%

LIBOR Determination Date

05/23/2006

LIBOR For Current Period

5.0812000%

Interest Rate Swap Floating Rate

5.081250%

Interest Rate Swap Fixed Rate

4.750000%

Page 25 of 27

Morgan Stanley ABS Capital I Inc. 2006-NC1



Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
June 26, 2006 Distribution

Additional Reports

ADDITIONAL CERTIFICATE REPORT




	Basis Risk Shortfall Paid	Basis Risk Shortfall
CLASS	Basis Risk Shortfall Paid	Basis Risk Shortfall
	0.00	0.00
A-1	0.00	0.00
	0.00	0.00
A-2	0.00	0.00
	0.00	0.00
A-3	0.00	0.00
	0.00	0.00
A-4	0.00	0.00
	0.00	0.00
B-1	0.00	0.00
	2,374.94	0.00
B-2	2,374.94	0.00
	11,067.64	0.00
B-3	11,067.64	0.00
	0.00	0.00
M-1	0.00	0.00
	0.00	0.00
M-2
M-2
	0.00	0.00

M-3
M-3	0.00	0.00

M-4
M-4	0.00	0.00

M-5
M-5	0.00	0.00

M-6
M-6



Page 26 of 27

Morgan Stanley ABS Capital I Inc. 2006-NC1



Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
June 26, 2006 Distribution

Other Related Information
ADDITIONAL INFORMATION
ADDITIONAL INFORMATION
							Total
Current Scheduled Payments							7,980,403.37
Current Scheduled Payments 1 Month Prior							8,198,040.07
Current Scheduled Payments 2 Month Prior							8,423,689.39
Current Scheduled Payments 3 Month Prior							8,608,988.26
Current Scheduled Payments 4 Month Prior							8,678,723.84
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							166,283.33
Sched. Pmts - 60+Day Delinquent Loans, 2 Month Prior							56,534.58
Sched. Pmts - 60+Day Delinquent Loans, 3 Month Prior							74,812.72
Sched. Pmts - 60+Day Delinquent Loans, 4 Month Prior							9,878.24
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 27 of 27

MSAC 2006-NC1 10-D