8-K 1 msi05wm2_10506.txt 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): June 27, 2005 MORGAN STANLEY ABS CAPITAL I, INC. Mortgage Pass-Through Certificates, Series 2005-WM2 Trust (Exact name of registrant as specified in its charter) New York (governing law of 333-113543-29 54-2169481 Pooling and Servicing Agreement) (Commission 54-2169482 (State or other File Number) 54-6658775 jurisdiction IRS EIN of Incorporation) C/O Wells Fargo Bank, N.A. 9062 Old Annapolis Rd. Columbia, MD 21045 (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code: (410) 884-2000 (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 under the Exchange Act (17 CFR 240.14a-12) [ ] 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 On June 27, 2005 a distribution was made to holders of MORGAN STANLEY ABS CAPITAL I, INC., Mortgage Pass-Through Certificates, Series 2005-WM2 Trust. ITEM 9.01 Financial Statements and Exhibits (c) Exhibits Exhibit Number Description EX-99.1 Monthly report distributed to holders of Mortgage Pass-Through Certificates, Series 2005-WM2 Trust, relating to the June 27, 2005 distribution. Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. MORGAN STANLEY ABS CAPITAL I, INC. Mortgage Pass-Through Certificates, Series 2005-WM2 Trust (Registrant) By: Wells Fargo Bank, N.A. as Trustee By: /s/ Beth Belfield as Officer By: Beth Belfield as Officer Date: 6/28/2005 INDEX TO EXHIBITS Exhibit Number Description EX-99.1 Monthly report distributed to holders of Mortgage Pass-Through Certificates, Series 2005-WM2 Trust, relating to the June 27, 2005 distribution. EX-99.1

Morgan Stanley ABS Capital I Inc Mortgage Pass-Through Certificates Record Date: 45/2931/2005 Distribution Date: 56/2527/2005 Morgan Stanley ABS Capital I Inc Mortgage Pass-Through Certificates Series 2005-WM2 Contact: Customer Service - CTSLink Wells Fargo Bank, N.A. Securities Administration Services 7485 New Horizon Way Frederick, MD 21703 www.ctslink.com Telephone: (301) 815-6600 Fax: (301) 815-6660 Certificateholder Distribution Summary Certificate Certificate Beginning Class Pass-Through Certificate Interest ~~Principal~~ Class CUSIP Description Rate Balance Distribution ~~Distribution~~ A-1ss 61744CNL6 SEN 3.~~42500~~49500% ~~377~~368,~~326~~735,~~911~~763.0671 1,~~076~~181,~~953~~337.8920 ~~8,591,147.35~~ A-1mz 61744CNM4 SEN 3.~~27000~~34000% 4140,~~925~~971,~~648~~066.5165 ~~114~~125,~~247~~439.3975 ~~954,581.86~~ A-2a 61744CNN2 SEN 3.~~10000~~17000% ~~351~~336,~~684~~563,~~889~~451.0597 ~~908~~977,~~519~~997.30 ~~15,121,437.08~~ A-2b 61744CNP7 SEN 3.~~20000~~27000% 123,211,000.00 ~~328~~369,~~562~~324.6797 ~~0.00~~ A-2c 61744CNQ5 SEN 3.~~32000~~39000% 105,000,000.00 ~~290~~326,~~500~~287.0050 ~~0.00~~ M-1 61744CNR3 MEZ 3.~~41000~~48000% 42,378,000.00 ~~120~~135,~~424~~185.1582 ~~0.00~~ M-2 61744CNS1 MEZ 3.~~45000~~52000% 40,452,000.00 ~~116~~130,~~299~~525.5012 ~~0.00~~ M-3 61744CNT9 MEZ 3.~~49000~~56000% 24,399,000.00 7079,~~960~~622.4307 ~~0.00~~ M-4 61744CNU6 MEZ 3.~~64000~~71000% 21,189,000.00 6472,~~273~~060.3026 ~~0.00~~ M-5 61744CNV4 MEZ 3.~~67000~~74000% 21,831,000.00 6674,~~766~~843.4894 ~~0.00~~ M-6 61744CNW2 MEZ 3.~~71000~~78000% 19,263,000.00 5966,~~554~~746.7829 ~~0.00~~ B-1 61744CNX0 SUB 4.~~19000~~26000% 17,337,000.00 6067,~~535~~700.0299 ~~0.00~~ B-2 61744CNY8 SUB 4.~~32000~~39000% 14,768,000.00 5359,~~164~~428.8089 ~~0.00~~ B-3 61744CNZ5 SUB 4.~~82000~~89000% 14,126,000.00 5663,~~739~~319.4379 ~~0.00~~ P MSI05WM2P SEN 0.00000% 0.00 ~~405~~466,~~934~~014.6062 ~~0.00~~ X MSI05WM2C SEN 0.00000% 43,020,033.09 32,~~320~~842,~~994~~028.9096 ~~0.00~~ Totals 1,~~257~~233,~~911~~244,~~481~~315.7142 7,~~114~~037,~~430~~863.~~64 24,667,166.29~~47

Certificateholder Distribution Summary (continued) Current Ending Cumulative Principal Realized Certificate Total Realized Class Distribution Loss Balance Distribution Losses A-1ss 9,279,964.60 0.00 ~~368~~359,~~735~~455,~~763~~799.7111 910,~~668~~461,~~101~~301.2480 0.00 A-1mz 1,031,117.90 0.00 4039,~~971~~939,~~066~~948.6575 1,~~068~~156,~~829~~557.2565 0.00 A-2a 18,926,501.80 0.00 ~~336~~317,~~563~~636,~~451~~950.9717 1619,~~029~~904,~~956~~499.3810 0.00 A-2b 0.00 0.00 123,211,000.00 ~~328~~369,~~562~~324.6797 0.00 A-2c 0.00 0.00 105,000,000.00 ~~290~~326,~~500~~287.0050 0.00 M-1 0.00 0.00 42,378,000.00 ~~120~~135,~~424~~185.1582 0.00 M-2 0.00 0.00 40,452,000.00 ~~116~~130,~~299~~525.5012 0.00 M-3 0.00 0.00 24,399,000.00 7079,~~960~~622.4307 0.00 M-4 0.00 0.00 21,189,000.00 6472,~~273~~060.3026 0.00 M-5 0.00 0.00 21,831,000.00 6674,~~766~~843.4894 0.00 M-6 0.00 0.00 19,263,000.00 5966,~~554~~746.7829 0.00 B-1 0.00 0.00 17,337,000.00 6067,~~535~~700.0299 0.00 B-2 0.00 0.00 14,768,000.00 5359,~~164~~428.8089 0.00 B-3 0.00 0.00 14,126,000.00 5663,~~739~~319.4379 0.00 P 0.00 0.00 ~~405~~0.00 466,~~934~~014.6062 0.00 X 0.00 0.00 43,020,033.09 32,~~320~~842,~~994~~028.9096 0.00 Totals 29,237,584.30 0.00 1,~~233~~204,~~244~~006,~~315~~731.4212 3136,~~781~~275,~~596~~447.9377 0.00 All distributions required by the Pooling and Servicing Agreement have been calculated by the Certificate Administrator on behalf of the Trustee.

Principal Distribution Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Realized Class Amount Balance Distribution Distribution Accretion Loss (1) A-1ss 384,485,000.00 ~~377~~368,~~326~~735,~~911~~763.0671 0.00 89,~~591~~279,~~147~~964.3560 0.00 0.00 A-1mz 42,721,000.00 4140,~~925~~971,~~648~~066.5165 0.00 ~~954~~1,~~581~~031,117.8690 0.00 0.00 A-2a 370,000,000.00 ~~351~~336,~~684~~563,~~889~~451.0597 0.00 1518,~~121~~926,~~437~~501.0880 0.00 0.00 A-2b 123,211,000.00 123,211,000.00 0.00 0.00 0.00 0.00 A-2c 105,000,000.00 105,000,000.00 0.00 0.00 0.00 0.00 M-1 42,378,000.00 42,378,000.00 0.00 0.00 0.00 0.00 M-2 40,452,000.00 40,452,000.00 0.00 0.00 0.00 0.00 M-3 24,399,000.00 24,399,000.00 0.00 0.00 0.00 0.00 M-4 21,189,000.00 21,189,000.00 0.00 0.00 0.00 0.00 M-5 21,831,000.00 21,831,000.00 0.00 0.00 0.00 0.00 M-6 19,263,000.00 19,263,000.00 0.00 0.00 0.00 0.00 B-1 17,337,000.00 17,337,000.00 0.00 0.00 0.00 0.00 B-2 14,768,000.00 14,768,000.00 0.00 0.00 0.00 0.00 B-3 14,126,000.00 14,126,000.00 0.00 0.00 0.00 0.00 P 0.00 0.00 0.00 0.00 0.00 0.00 X 0.00 43,020,033.09 0.00 0.00 0.00 0.00 Totals 1,241,160,000.00 1,~~257~~233,~~911~~244,~~481~~315.7142 0.00 2429,~~667~~237,~~166~~584.2930 0.00 0.00 (1) Amount Does Not Include Excess Special Hazard, Bankruptcy, or Fraud Losses Unless Otherwise Disclosed. Please Refer to the Prospectus Supplement for a Full Description.

Principal Distribution Statement (continued) Total Ending Ending Total Principal Certificate Certificate Principal Class Reduction Balance Percentage Distribution A-1ss 89,~~591~~279,~~147~~964.3560 ~~368~~359,~~735~~455,~~763~~799.7111 0.~~95903810~~93490201 89,~~591~~279,~~147~~964.3560 A-1mz ~~954~~1,~~581~~031,117.8690 4039,~~971~~939,~~066~~948.6575 0.~~95903810~~93490201 ~~954~~1,~~581~~031,117.8690 A-2a 1518,~~121~~926,~~437~~501.0880 ~~336~~317,~~563~~636,~~451~~950.9717 0.~~90963095~~85847824 1518,~~121~~926,~~437~~501.0880 A-2b 0.00 123,211,000.00 1.00000000 0.00 A-2c 0.00 105,000,000.00 1.00000000 0.00 M-1 0.00 42,378,000.00 1.00000000 0.00 M-2 0.00 40,452,000.00 1.00000000 0.00 M-3 0.00 24,399,000.00 1.00000000 0.00 M-4 0.00 21,189,000.00 1.00000000 0.00 M-5 0.00 21,831,000.00 1.00000000 0.00 M-6 0.00 19,263,000.00 1.00000000 0.00 B-1 0.00 17,337,000.00 1.00000000 0.00 B-2 0.00 14,768,000.00 1.00000000 0.00 B-3 0.00 14,126,000.00 1.00000000 0.00 P 0.00 0.00 0.00000000 0.00 X 0.00 43,020,033.09 0.00000000 0.00 Totals 2429,~~667~~237,~~166~~584.2930 1,~~233~~204,~~244~~006,~~315~~731.4212 0.~~99362235~~97006569 2429,~~667~~237,~~166~~584.2930

Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion A-1ss 384,485,000.00 ~~981~~959.~~38265748~~03809956 0.00000000 2224.~~34455792~~13609009 0.00000000 A-1mz 42,721,000.00 ~~981~~959.~~38265748~~03809953 0.00000000 2224.~~34455795~~13608998 0.00000000 A-2a 370,000,000.00 ~~950~~909.~~49970014~~63095127 0.00000000 4051.~~86874886~~15270757 0.00000000 A-2b 123,211,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 A-2c 105,000,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-1 42,378,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-2 40,452,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-3 24,399,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-4 21,189,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-5 21,831,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-6 19,263,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 B-1 17,337,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 B-2 14,768,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 B-3 14,126,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 P 0.00 0.00000000 0.00000000 0.00000000 0.00000000 X 0.00 0.00000000 0.00000000 0.00000000 0.00000000

Principal Distribution Factors Statement (continued) Total Ending Ending Total Realized Principal Certificate Certificate Principal Class Loss (3) Reduction Balance Percentage Distribution A-1ss 0.00000000 2224.~~34455792~~13609009 ~~959~~934.~~03809956~~90200947 0.~~95903810~~93490201 2224.~~34455792~~13609009 A-1mz 0.00000000 2224.~~34455795~~13608998 ~~959~~934.~~03809953~~90200955 0.~~95903810~~93490201 2224.~~34455795~~13608998 A-2a 0.00000000 4051.~~86874886~~15270757 ~~909~~858.~~63095127~~47824370 0.~~90963095~~85847824 4051.~~86874886~~15270757 A-2b 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 A-2c 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M-1 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M-2 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M-3 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M-4 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M-5 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M-6 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 B-1 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 B-2 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 B-3 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 P 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 X 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 (3) Amount Does Not Include Excess Special Hazard, Bankruptcy, or Fraud Losses Unless Otherwise Disclosed. Please Refer to the Prospectus Supplement for a Full Description.

Interest Distribution Statement Beginning Payment of Original Current Certificate/ Current Unpaid Current Face Certificate Notional Accrued Interest Interest Class Amount Rate Balance Interest Shortfall Shortfall A-1ss 384,485,000.00 3.~~42500~~49500% ~~377~~368,~~326~~735,~~911~~763.0671 1,~~076~~181,~~953~~337.8920 0.00 0.00 A-1mz 42,721,000.00 3.~~27000~~34000% 4140,~~925~~971,~~648~~066.5165 ~~114~~125,~~247~~439.3975 0.00 0.00 A-2a 370,000,000.00 3.~~10000~~17000% ~~351~~336,~~684~~563,~~889~~451.0597 ~~908~~977,~~519~~997.30 0.00 0.00 A-2b 123,211,000.00 3.~~20000~~27000% 123,211,000.00 ~~328~~369,~~562~~324.6797 0.00 0.00 A-2c 105,000,000.00 3.~~32000~~39000% 105,000,000.00 ~~290~~326,~~500~~287.0050 0.00 0.00 M-1 42,378,000.00 3.~~41000~~48000% 42,378,000.00 ~~120~~135,~~424~~185.1582 0.00 0.00 M-2 40,452,000.00 3.~~45000~~52000% 40,452,000.00 ~~116~~130,~~299~~525.5012 0.00 0.00 M-3 24,399,000.00 3.~~49000~~56000% 24,399,000.00 7079,~~960~~622.4307 0.00 0.00 M-4 21,189,000.00 3.~~64000~~71000% 21,189,000.00 6472,~~273~~060.3026 0.00 0.00 M-5 21,831,000.00 3.~~67000~~74000% 21,831,000.00 6674,~~766~~843.4894 0.00 0.00 M-6 19,263,000.00 3.~~71000~~78000% 19,263,000.00 5966,~~554~~746.7829 0.00 0.00 B-1 17,337,000.00 4.~~19000~~26000% 17,337,000.00 6067,~~535~~700.0299 0.00 0.00 B-2 14,768,000.00 4.~~32000~~39000% 14,768,000.00 5359,~~164~~428.8089 0.00 0.00 B-3 14,126,000.00 4.~~82000~~89000% 14,126,000.00 5663,~~739~~319.4379 0.00 0.00 P 0.00 0.00000% 0.00 0.00 0.00 0.00 X 0.00 0.00000% 1,~~300~~276,~~931~~264,~~514~~348.9364 0.00 0.00 0.00 Totals 1,241,160,000.00 3,~~387~~729,~~501~~819.1489 0.00 0.00

Interest Distribution Statement (continued) Remaining Ending Non-Supported Total Unpaid Certificate/ Interest Realized Interest Interest Notional Class Shortfall Losses (4) Distribution Shortfall Balance A-1ss 0.00 0.00 1,~~076~~181,~~953~~337.8920 0.00 ~~368~~359,~~735~~455,~~763~~799.7111 A-1mz 0.00 0.00 ~~114~~125,~~247~~439.3975 0.00 4039,~~971~~939,~~066~~948.6575 A-2a 0.00 0.00 ~~908~~977,~~519~~997.30 0.00 ~~336~~317,~~563~~636,~~451~~950.9717 A-2b 0.00 0.00 ~~328~~369,~~562~~324.6797 0.00 123,211,000.00 A-2c 0.00 0.00 ~~290~~326,~~500~~287.0050 0.00 105,000,000.00 M-1 0.00 0.00 ~~120~~135,~~424~~185.1582 0.00 42,378,000.00 M-2 0.00 0.00 ~~116~~130,~~299~~525.5012 0.00 40,452,000.00 M-3 0.00 0.00 7079,~~960~~622.4307 0.00 24,399,000.00 M-4 0.00 0.00 6472,~~273~~060.3026 0.00 21,189,000.00 M-5 0.00 0.00 6674,~~766~~843.4894 0.00 21,831,000.00 M-6 0.00 0.00 5966,~~554~~746.7829 0.00 19,263,000.00 B-1 0.00 0.00 6067,~~535~~700.0299 0.00 17,337,000.00 B-2 0.00 0.00 5359,~~164~~428.8089 0.00 14,768,000.00 B-3 0.00 0.00 5663,~~739~~319.4379 0.00 14,126,000.00 P 0.00 0.00 ~~405~~466,~~934~~014.6062 0.00 0.00 X 0.00 0.00 32,~~320~~842,~~994~~028.9096 0.00 1,~~276~~247,~~264~~026,~~348~~764.6434 Totals 0.00 0.00 7,~~114~~037,~~430~~863.6447 0.00 (4) Amount Does Not Include Excess Special Hazard, Bankruptcy, or Fraud Losses Unless Otherwise Disclosed. Please Refer to the Prospectus Supplement for a Full Description.

Interest Distribution Factors Statement Beginning Payment of Original Current Certificate/ Current Unpaid Current Face Certificate Notional Accrued Interest Interest Class (5) Amount Rate Balance Interest Shortfall Shortfall A-1ss 384,485,000.00 3.~~42500~~49500% ~~981~~959.~~38265748~~03809956 23.~~80102966~~07251830 0.00000000 0.00000000 A-1mz 42,721,000.00 3.~~27000~~34000% ~~981~~959.~~38265748~~03809953 2.~~67426769~~93625500 0.00000000 0.00000000 A-2a 370,000,000.00 3.~~10000~~17000% ~~950~~909.~~49970014~~63095127 2.~~45545757~~64323595 0.00000000 0.00000000 A-2b 123,211,000.00 3.~~20000~~27000% 1000.00000000 2.~~66666669~~99749998 0.00000000 0.00000000 A-2c 105,000,000.00 3.~~32000~~39000% 1000.00000000 23.~~76666667~~10750000 0.00000000 0.00000000 M-1 42,378,000.00 3.~~41000~~48000% 1000.00000000 23.~~84166667~~19000000 0.00000000 0.00000000 M-2 40,452,000.00 3.~~45000~~52000% 1000.00000000 23.~~87500000~~22666667 0.00000000 0.00000000 M-3 24,399,000.00 3.~~49000~~56000% 1000.00000000 23.~~90833354~~26333333 0.00000000 0.00000000 M-4 21,189,000.00 3.~~64000~~71000% 1000.00000000 3.~~03333333~~40083345 0.00000000 0.00000000 M-5 21,831,000.00 3.~~67000~~74000% 1000.00000000 3.~~05833356~~42833310 0.00000000 0.00000000 M-6 19,263,000.00 3.~~71000~~78000% 1000.00000000 3.~~09166693~~46499974 0.00000000 0.00000000 B-1 17,337,000.00 4.~~19000~~26000% 1000.00000000 3.~~49166638~~90500029 0.00000000 0.00000000 B-2 14,768,000.00 4.~~32000~~39000% 1000.00000000 34.~~60000000~~02416644 0.00000000 0.00000000 B-3 14,126,000.00 4.~~82000~~89000% 1000.00000000 4.~~01666643~~48249965 0.00000000 0.00000000 P 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 X 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 (5) Per $1 denomination.

Interest Distribution Factors Statement (continued) Remaining Ending Non-Supported Total Unpaid Certificate/ Interest Realized Interest Interest Notional Class Shortfall Losses (6) Distribution Shortfall Balance A-1ss 0.00000000 0.00000000 23.~~80102966~~07251830 0.00000000 ~~959~~934.~~03809956~~90200947 A-1mz 0.00000000 0.00000000 2.~~67426769~~93625500 0.00000000 ~~959~~934.~~03809953~~90200955 A-2a 0.00000000 0.00000000 2.~~45545757~~64323595 0.00000000 ~~909~~858.~~63095127~~47824370 A-2b 0.00000000 0.00000000 2.~~66666669~~99749998 0.00000000 1000.00000000 A-2c 0.00000000 0.00000000 23.~~76666667~~10750000 0.00000000 1000.00000000 M-1 0.00000000 0.00000000 23.~~84166667~~19000000 0.00000000 1000.00000000 M-2 0.00000000 0.00000000 23.~~87500000~~22666667 0.00000000 1000.00000000 M-3 0.00000000 0.00000000 23.~~90833354~~26333333 0.00000000 1000.00000000 M-4 0.00000000 0.00000000 3.~~03333333~~40083345 0.00000000 1000.00000000 M-5 0.00000000 0.00000000 3.~~05833356~~42833310 0.00000000 1000.00000000 M-6 0.00000000 0.00000000 3.~~09166693~~46499974 0.00000000 1000.00000000 B-1 0.00000000 0.00000000 3.~~49166638~~90500029 0.00000000 1000.00000000 B-2 0.00000000 0.00000000 34.~~60000000~~02416644 0.00000000 1000.00000000 B-3 0.00000000 0.00000000 4.~~01666643~~48249965 0.00000000 1000.00000000 P 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 X 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 (6) Amount Does Not Include Excess Special Hazard, Bankruptcy,or Fraud Losses Unless Otherwise Disclosed. Please Refer to the Prospectus Supplement for a Full Description.

CERTIFICATEHOLDER ACCOUNT STATEMENT CERTIFICATE ACCOUNT Beginning Balance 0.00 Deposits Payments of Interest and Principal 3236,~~310~~794,~~705~~181.9615 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 0.00 Realized Loss (Gains, Subsequent Expenses & Recoveries) 0.00 Prepayment Penalties 0.00 Total Deposits 3236,~~310~~794,~~705~~181.9615 Withdrawals Reimbursement for Servicer Advances 0.00 Payment of Service Fee ~~529~~518,~~109~~733.0338 Payment of Interest and Principal 3136,~~781~~275,~~596~~447.9377 Total Withdrawals (Pool Distribution Amount) 3236,~~310~~794,~~705~~181.9615 Ending Balance 0.00

SERVICING FEES Gross Servicing Fee ~~524~~513,~~129~~851.7879 Custodian Fee ~~262~~256.0792 Wells Fargo Bank, N.A. 4,~~717~~624.1867 Supported Prepayment/Curtailment Interest Shortfall 0.00 Net Servicing Fee ~~529~~518,~~109~~733.0338

LOAN STATUS STRATIFICATION/CREDIT ENHANCEMENT STATEMENT ~~DELINQUENCY STATUS~~ DELINQUENT BANKRUPTCY FORECLOSURE REO Total No of Loans No of Loans No of Loans No of Loans No of Loans Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance 0-29 Days 0 0 0 0 0.00 0.00 0.00 0.00 30 Days 7073 0 0 0 7073 1213,~~672~~098,~~934~~081.8596 0.00 0.00 0.00 1213,~~672~~098,~~934~~081.8596 60 Days 2745 0 0 0 2745 69,~~344~~119,~~093~~964.1057 0.00 0.00 0.00 69,~~344~~119,~~093~~964.1057 90 Days 624 0 0 0 624 ~~969~~5,~~242~~054,310.6832 0.00 0.00 0.00 ~~969~~5,~~242~~054,310.6832 120 Days 02 0 0 0 02 0560,393.0062 0.00 0.00 0.00 0560,393.0062 150 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 180+ Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 Totals ~~103~~144 0 0 0 ~~103~~144 1927,~~986~~832,~~270~~750.6347 0.00 0.00 0.00 1927,~~986~~832,~~270~~750.6347 No of Loans No of Loans No of Loans No of Loans No of Loans Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 1.~~119284~~190282% 0.000000% 0.000000% 0.000000% 1.~~119284~~190282% 1.~~027023~~087205% 0.000000% 0.000000% 0.000000% 1.~~027023~~087205% 60 Days 0.~~431724~~733736% 0.000000% 0.000000% 0.000000% 0.~~431724~~733736% 0.~~514130~~757002% 0.000000% 0.000000% 0.000000% 0.~~514130~~757002% 90 Days 0.~~095939~~391326% 0.000000% 0.000000% 0.000000% 0.~~095939~~391326% 0.~~078548~~419532% 0.000000% 0.000000% 0.000000% 0.~~078548~~419532% 120 Days 0.~~000000~~032610% 0.000000% 0.000000% 0.000000% 0.~~000000~~032610% 0.~~000000~~046515% 0.000000% 0.000000% 0.000000% 0.~~000000~~046515% 150 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% Totals 12.~~646946~~347954% 0.000000% 0.000000% 0.000000% 12.~~646946~~347954% 12.~~619701~~310254% 0.000000% 0.000000% 0.000000% 12.~~619701~~310254%

Delinquency Status By Groups

~~Delinquency Status By Groups~~ DELINQUENT BANKRUPTCY FORECLOSURE REO Total 1A No of Loans No of Loans No of Loans No of Loans No of Loans Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance 0-29 Days 0 0 0 0 0.00 0.00 0.00 0.00 30 Days 21 0 0 0 21 4,~~306~~665,~~065~~559.6485 0.00 0.00 0.00 4,~~306~~665,~~065~~559.6485 60 Days 812 0 0 0 812 2,~~063~~705,~~214~~462.8138 0.00 0.00 0.00 2,~~063~~705,~~214~~462.8138 90 Days 07 0 0 0 07 01,793,447.0091 0.00 0.00 0.00 01,793,447.0091 120 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 150 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 180+ Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 Totals 2940 0 0 0 2940 69,~~369~~164,~~280~~470.4514 0.00 0.00 0.00 69,~~369~~164,~~280~~470.4514 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 1.~~113468~~134522% 0.000000% 0.000000% 0.000000% 1.~~113468~~134522% 1.~~088072~~204128% 0.000000% 0.000000% 0.000000% 1.~~088072~~204128% 60 Days 0.~~424178~~648298% 0.000000% 0.000000% 0.000000% 0.~~424178~~648298% 0.~~521340~~698249% 0.000000% 0.000000% 0.000000% 0.~~521340~~698249% 90 Days 0.~~000000~~378174% 0.000000% 0.000000% 0.000000% 0.~~000000~~378174% 0.~~000000~~462869% 0.000000% 0.000000% 0.000000% 0.~~000000~~462869% 120 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% Totals 12.~~537646~~160994% 0.000000% 0.000000% 0.000000% 12.~~537646~~160994% 12.~~609412~~365246% 0.000000% 0.000000% 0.000000% 12.~~609412~~365246% DELINQUENT BANKRUPTCY FORECLOSURE REO Total 1B No of Loans No of Loans No of Loans No of Loans No of Loans Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance 0-29 Days 0 0 0 0 0.00 0.00 0.00 0.00 30 Days 2016 0 0 0 2016 ~~993~~949,~~046~~280.6928 0.00 0.00 0.00 ~~993~~949,~~046~~280.6928 60 Days 312 0 0 0 312 98713,~~667~~698.0338 0.00 0.00 0.00 98713,~~667~~698.0338 90 Days 13 0 0 0 13 4698,~~875~~667.0003 0.00 0.00 0.00 4698,~~875~~667.0003 120 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 150 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 180+ Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 Totals 2431 0 0 0 2431 1,~~138~~761,~~588~~645.7269 0.00 0.00 0.00 1,~~138~~761,~~588~~645.7269 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 1.~~295337~~048493% 0.000000% 0.000000% 0.000000% 1.~~295337~~048493% 0.~~813147~~790237% 0.000000% 0.000000% 0.000000% 0.~~813147~~790237% 60 Days 0.~~194301~~786370% 0.000000% 0.000000% 0.000000% 0.~~194301~~786370% 0.~~080793~~594124% 0.000000% 0.000000% 0.000000% 0.~~080793~~594124% 90 Days 0.~~064767~~196592% 0.000000% 0.000000% 0.000000% 0.~~064767~~196592% 0.~~038383~~082136% 0.000000% 0.000000% 0.000000% 0.~~038383~~082136% 120 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% Totals 12.~~554404~~031455% 0.000000% 0.000000% 0.000000% 12.~~554404~~031455% 01.~~932323~~466497% 0.000000% 0.000000% 0.000000% 01.~~932323~~466497% DELINQUENT BANKRUPTCY FORECLOSURE REO Total 2A No of Loans No of Loans No of Loans No of Loans No of Loans Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance 0-29 Days 0 0 0 0 0.00 0.00 0.00 0.00 30 Days 1926 0 0 0 1926 56,~~723~~444,~~662~~803.8854 0.00 0.00 0.00 56,~~723~~444,~~662~~803.8854 60 Days 812 0 0 0 812 24,~~711~~200,~~806~~443.6301 0.00 0.00 0.00 24,~~711~~200,~~806~~443.6301 90 Days 37 0 0 0 37 ~~743~~1,~~937~~841,724.5925 0.00 0.00 0.00 ~~743~~1,~~937~~841,724.5925 120 Days 01 0 0 0 01 0440,437.0059 0.00 0.00 0.00 0440,437.0059 150 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 180+ Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 Totals 3046 0 0 0 3046 912,~~179~~927,~~407~~408.1039 0.00 0.00 0.00 912,~~179~~927,~~407~~408.1039 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 01.~~945274~~327208% 0.000000% 0.000000% 0.000000% 01.~~945274~~327208% 01.~~945980~~096232% 0.000000% 0.000000% 0.000000% 01.~~945980~~096232% 60 Days 0.~~398010~~612557% 0.000000% 0.000000% 0.000000% 0.~~398010~~612557% 0.~~448195~~714476% 0.000000% 0.000000% 0.000000% 0.~~448195~~714476% 90 Days 0.~~149254~~357325% 0.000000% 0.000000% 0.000000% 0.~~149254~~357325% 0.~~122954~~313269% 0.000000% 0.000000% 0.000000% 0.~~122954~~313269% 120 Days 0.~~000000~~051046% 0.000000% 0.000000% 0.000000% 0.~~000000~~051046% 0.~~000000~~074916% 0.000000% 0.000000% 0.000000% 0.~~000000~~074916% 150 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% Totals 12.~~492537~~348137% 0.000000% 0.000000% 0.000000% 12.~~492537~~348137% 12.~~517129~~198894% 0.000000% 0.000000% 0.000000% 12.~~517129~~198894% DELINQUENT BANKRUPTCY FORECLOSURE REO Total 2B No of Loans No of Loans No of Loans No of Loans No of Loans Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance 0-29 Days 0 0 0 0 0.00 0.00 0.00 0.00 30 Days 10 0 0 0 10 1,~~650~~038,~~159~~438.6429 0.00 0.00 0.00 1,~~650~~038,~~159~~438.6429 60 Days 89 0 0 0 89 1,~~470~~500,~~404~~360.6380 0.00 0.00 0.00 1,~~470~~500,~~404~~360.6380 90 Days 27 0 0 0 27 ~~178~~1,~~430~~320,471.0913 0.00 0.00 0.00 ~~178~~1,~~430~~320,471.0913 120 Days 01 0 0 0 01 0119,956.0003 0.00 0.00 0.00 0119,956.0003 150 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 180+ Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 Totals 2027 0 0 0 2027 3,~~298~~979,~~994~~226.3625 0.00 0.00 0.00 3,~~298~~979,~~994~~226.3625 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 1.~~228501~~254705% 0.000000% 0.000000% 0.000000% 1.~~228501~~254705% 10.~~486347~~950485% 0.000000% 0.000000% 0.000000% 10.~~486347~~950485% 60 Days 01.~~982801~~129235% 0.000000% 0.000000% 0.000000% 01.~~982801~~129235% 1.~~324436~~373283% 0.000000% 0.000000% 0.000000% 1.~~324436~~373283% 90 Days 0.~~245700~~878294% 0.000000% 0.000000% 0.000000% 0.~~245700~~878294% 01.~~160717~~208630% 0.000000% 0.000000% 0.000000% 01.~~160717~~208630% 120 Days 0.~~000000~~125471% 0.000000% 0.000000% 0.000000% 0.~~000000~~125471% 0.~~000000~~109796% 0.000000% 0.000000% 0.000000% 0.~~000000~~109796% 150 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% Totals 23.~~457002~~387704% 0.000000% 0.000000% 0.000000% 23.~~457002~~387704% 23.~~971501~~642193% 0.000000% 0.000000% 0.000000% 23.~~971501~~642193%

COLLATERAL STATEMENT Collateral Description Mixed Fixed Weighted Average Gross Coupon 6.~~904402~~899443% Weighted Average Net Coupon 6.~~404402~~399443% Weighted Average Pass-Through Rate 6.~~399652~~394693% Weighted Average Maturity(Stepdown Calculation ) ~~354~~353 Beginning Scheduled Collateral Loan Count 6,~~354~~254 Number Of Loans Paid In Full ~~100~~121 Ending Scheduled Collateral Loan Count 6,~~254~~133 Beginning Scheduled Collateral Balance 1,~~257~~233,~~911~~244,~~481~~315.7142 Ending Scheduled Collateral Balance 1,~~233~~204,~~244~~006,~~315~~731.4212 Ending Actual Collateral Balance at 2931-~~Apr~~May-2005 1,~~233~~204,~~948~~748,~~107~~417.9769 Monthly P &I Constant 87,~~046~~890,~~156~~515.2042 Special Servicing Fee 0.00 Prepayment Penalties 0.00 Realized Loss Amount 0.00 Cumulative Realized Loss 0.00 Scheduled Principal ~~808~~799,~~551~~933.1541 Unscheduled Principal 2328,~~858~~437,~~615~~650.1489 Extra principal distribution Amount 0.00 Excess Cash Amount 32,~~320~~842,~~994~~028.9096

Miscellaneous Reporting Specified Overcollateralization Amount 43,020,033.09 Overcollateralization Deficiency Amount 0.00 Overcollateralization Amount 43,020,033.09 Monthly Excess Cash Amount 32,~~320~~842,~~994~~028.9096 Stepdown Date NO Trigger Event NO Group 1 Sequential Trigger Event NO Delinquency Percent 0.~~357623~~650878% Cumulative Loss Percentage 0.000000% Group I Class A Cap Agreement payment 0.00 Group II Class A Cap Agreement payment 0.00 Class B Cap Agreement payment 0.00 Class M Cap Agreement payment 0.00

Group Level Collateral Statement Group 1A 1B 2A Collateral Description Mixed Fixed Mixed Fixed Mixed Fixed Weighted Average Coupon Rate 6.~~577701~~567597 8.~~172688~~167272 6.~~578528~~573726 Weighted Average Net Rate 6.~~077701~~067597 7.~~672688~~667272 6.~~078528~~073726 Weighted Average Maturity ~~354~~353 ~~354~~353 ~~354~~353 Beginning Loan Count 1,~~918~~886 1,~~561~~544 2,~~048~~010 Loans Paid In Full 3235 1718 3851 Ending Loan Count 1,~~886~~851 1,~~544~~526 21,~~010~~959 Beginning Scheduled Balance ~~403~~395,~~623~~475,~~608~~531.2062 ~~123~~122,~~433~~036,~~796~~144.9229 ~~618~~604,~~222~~781,~~991~~407.6094 Ending ~~scheduled~~Scheduled Balance ~~395~~387,~~475~~164,~~531~~230.6239 ~~122~~120,036,~~144~~363.2902 ~~604~~587,~~781~~628,~~407~~006.9444 Record Date 0405/2931/2005 0405/2931/2005 0405/2931/2005 Principal And Interest Constant 2,~~532~~480,~~611~~039.2399 ~~949~~939,~~460~~356.3381 3,~~685~~606,~~987~~277.5457 Scheduled Principal ~~320~~315,~~181~~603.7831 108,~~805~~771.4150 ~~296~~293,~~823~~221.2969 Unscheduled Principal 7,~~827~~995,~~894~~697.8092 1,~~288~~891,~~847~~009.2277 1316,~~144~~860,~~760~~179.3781 Scheduled Interest 2,~~212~~164,~~429~~436.4568 ~~840~~830,~~654~~585.9231 3,~~389~~313,~~164~~055.2588 Servicing Fees ~~168~~164,~~176~~781.5047 5150,~~430~~848.7539 ~~257~~251,~~592~~992.9125 Master Servicing Fees 0.00 0.00 0.00 Trustee Fee 1,~~513~~483.5903 ~~462~~457.8864 2,~~318~~267.3493 FRY Amount 0.00 0.00 0.00 Special Hazard Fee 0.00 0.00 0.00 Other Fee 8482.0939 25.7242 ~~128~~126.8000 Pool Insurance Fee 0.00 0.00 0.00 Spread ~~Fee~~ 1 0.00 0.00 0.00 Spread ~~Fee~~ 2 0.00 0.00 0.00 Spread ~~Fee~~ 3 0.00 0.00 0.00 Net Interest 21,~~042~~998,~~655~~089.2779 ~~788~~779,~~735~~253.5786 3,~~129~~058,~~124~~669.2070 Realized Loss Amount 0.00 0.00 0.00 Cumulative Realized Loss 0.00 0.00 0.00 Percentage of Cumulative Losses 0.0000 0.0000 0.0000 Prepayment Penalties 0.00 0.00 0.00 Special Servicing Fee 0.00 0.00 0.00 Pass-Through Rate 6.~~072951~~062847 7.~~667938~~662522 6.~~073778~~068976

Group Level Collateral Statement Group 2B Total Collateral Description Mixed Fixed Mixed Fixed Weighted Average Coupon Rate 8.~~473928~~463223 6.~~904402~~899443 Weighted Average Net Rate 7.~~973928~~963223 6.~~404402~~399443 Weighted Average Maturity ~~354~~353 ~~354~~353 Beginning Loan Count ~~827~~814 6,~~354~~254 Loans Paid In Full 1317 ~~100~~121 Ending Loan Count ~~814~~797 6,~~254~~133 Beginning Scheduled Balance ~~112~~110,~~631~~951,~~084~~231.9957 1,~~257~~233,~~911~~244,~~481~~315.7142 Ending scheduled Balance ~~110~~109,~~951~~178,~~231~~131.5727 1,~~233~~204,~~244~~006,~~315~~731.4212 Record Date 0405/2931/2005 0405/2931/2005 Principal And Interest Constant ~~878~~864,~~097~~841.1005 87,~~046~~890,~~156~~515.2042 Scheduled Principal 82,~~740~~336.6791 ~~808~~799,~~551~~933.1541 Unscheduled Principal 1,~~597~~690,~~112~~763.7539 2328,~~858~~437,~~615~~650.1489 Scheduled Interest ~~795~~782,~~356~~504.4314 7,~~237~~090,~~605~~582.0501 Servicing Fees 46,~~929~~229.6268 ~~524~~513,~~129~~851.7879 Master Servicing Fees 0.00 0.00 Trustee Fee ~~422~~416.3707 4,~~717~~624.1867 FRY Amount 0.00 0.00 Special Hazard Fee 0.00 0.00 Other Fee 23.4611 ~~262~~256.0792 Pool Insurance Fee 0.00 0.00 Spread ~~Fee~~ 1 0.00 0.00 Spread ~~Fee~~ 2 0.00 0.00 Spread ~~Fee~~ 3 0.00 0.00 Net Interest ~~747~~735,~~980~~835.9828 6,~~708~~571,~~496~~848.0263 Realized Loss Amount 0.00 0.00 Cumulative Realized Loss 0.00 0.00 Percentage of Cumulative Losses 0.0000 0.0000 Prepayment Penalties 0.00 0.00 Special Servicing Fee 0.00 0.00 Pass-Through Rate 7.~~969178~~958473 6.~~399652~~394693

Filing Compare · Morgan Stanley ABS Capital I Inc. Trust 2005-WMC2