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): ~~May~~June 2725, 2003 MORGAN STANLEY CAPITAL I INC. (as Depositor, The Provident Bank as Servicer, NC Capital Corporation, as Responsible Party and Deutsche Bank National Trust Company, as Trustee). MORGAN STANLEY DEAN WITTER CAPITAL I INC CERT SER 2003 NC4 (Exact name of Registrant as specified in its Charter) DELAWARE (State or Other Jurisdiction of Incorporation) 333-83986-19 13-3291626 (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) 761-4700 Item 5. Other Events Attached hereto is a copy of the Monthly Remittance Statements to the Certificateholders which was derived from the monthly information submitted by the Master Servicer of the Trust to the Trustee. Item 7. Financial Statement and Exhibits Exhibits: (as noted in Item 5 above) Monthly Remittance Statement to the Certificateholders dated as of ~~May~~June 2725, 2003. SIGNATURE 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. Deutsche Bank National Trust Company, not in its individual capacity, but solely as a duly authorized agent of the Registrant pursuant to the Pooling and Servicing Agreement, dated as of April 1,2003. Date: ~~Jun~~Jul 0203, 2003 By: /s/ David Co David Co Vice President EXHIBIT INDEX DOCUMENT Monthly Remittance Statement to the Certificateholders dated as of ~~May~~June 2725, 2003.

	MORGAN STANLEY CAPITAL I INC. 2003-NC4
	Morgan Stanley Dean Witter Capital I Inc. 2003-NC4
	Mortgage Pass-Through Certificates
	May 27, 2003 Distribution
	June 25, 2003 Distribution
	Contents
			TABLE OF CONTENTS
								Page
			1.	Contents				1
			2.	Certificate Payment Report				2
			3.	Collection Account Report				4
			4.	Credit Enhancement Report				7
			5.	Collateral Report				8
			6.	Delinquency Report				11
			7.	REO Report				14
			8.	Foreclosure Report				15
			9.	Prepayment Report				16
			10.	Prepayment Detail Report				19
			11.	Realized Loss Report				20
			12.	Realized Loss Detail Report				23
			13.	Triggers, Adj. Rate Cert. and Miscellaneous Report				24
				Total Number of Pages				24
			CONTACTS
				Administrator: Jeremy Conyers
				Direct Phone Number: (714)247-6274
				Address: Deutsche Bank
				1761 E. St. Andrew Place, Santa Ana, CA 92705
				Web Site: https://www.corporatetrust.db.com/invr
				Factor Information: (800) 735-7777
				Main Phone Number: (714) 247-6000
ISSUANCE INFORMATION
	Seller:		Morgan Stanley					Cut-Off Date: April 1, 2003
	Certificate Insurer(s):							Closing Date: April 29, 2003
								First Payment Date: May 25, 2003
	Servicer(s):		Provident Bank Master Servicer
								Distribution Date: May 27, 2003
								Distribution Date: June 25, 2003
	Underwriter(s):		Morgan Stanley & Co. Inc					Record Date: ~~May~~June 2324, 2003
								April 30, 2003
								May 30, 2003
						Page 1 of 24					© COPYRIGHT 2003 Deutsche Bank
	MORGAN STANLEY CAPITAL I INC. 2003-NC4
	Morgan Stanley Dean Witter Capital I Inc. 2003-NC4
	Mortgage Pass-Through Certificates
	REMIC II Series 2003-NC4
	Certificate Payment Report for May 27, 2003 Distribution
	Certificate Payment Report for June 25, 2003 Distribution
	Distribution in Dollars - Current Period
					Prior						Current
	Class	Original			Principal			Total	Realized	Deferred	Principal
Class	Type	Face Value			Balance	Interest	Principal	Distribution	Losses	Interest	Balance
					(1)	(2)	(3)	(4)=(2)+(3)	(5)	(6)	(7)=(1)-(3)-(5)+(6)
A-1	FLT, STEP	384,805,000.00			~~384~~382,~~805~~153,~~000~~487.0087	~~538~~554,~~071~~122.5556	2,~~651~~806,~~512~~401.1341	3,~~189~~360,~~583~~523.6897	-	-	~~382~~379,~~153~~347,~~487~~086.8745
A-2	FLT, STEP	131,500,000.00			~~131~~130,~~500~~278,~~000~~113.0063	~~172~~177,~~625~~359.4618	1,~~221~~870,~~886~~898.3709	12,~~394~~048,~~511~~257.8327	-	-	~~130~~128,~~278~~407,~~113~~215.6354
A-3	FLT, STEP	63,831,000.00			6362,~~831~~866,~~000~~211.0053	7576,~~353~~976.7018	~~964~~1,~~788~~477,241.4721	1,~~040~~554,~~142~~217.1739	-	-	6261,~~866~~388,~~211~~970.5332
A-4	FLT, STEP	40,000,000.00			40,000,000.00	5658,~~554~~644.0944	-	5658,~~554~~644.0944	-	-	40,000,000.00
M-1	MEZ, FLT,ST	40,838,000.00			40,838,000.00	6972,~~491~~045.1704	-	6972,~~491~~045.1704	-	-	40,838,000.00
M-2	MEZ, FLT,ST	41,595,000.00			41,595,000.00	~~107~~111,~~336~~243.6852	-	~~107~~111,~~336~~243.6852	-	-	41,595,000.00
M-3	MEZ, FLT,ST	13,234,000.00			13,234,000.00	3739,~~753~~124.1885	-	3739,~~753~~124.1885	-	-	13,234,000.00
B-1	SUB, FLT,ST	11,344,000.00			11,344,000.00	4042,~~743~~218.4559	-	4042,~~743~~218.4559	-	-	11,344,000.00
B-2	SUB, FLT,ST	7,563,000.00			7,563,000.00	2930,~~810~~888.55	-	2930,~~810~~888.55	-	-	7,563,000.00
B-3	SUB, FLT,ST	8,319,000.00			8,319,000.00	3233,~~790~~976.4218	-	3233,~~790~~976.4218	-	-	8,319,000.00
X	SUB	13,234,898.00			13,234,~~897~~618.6021	3,~~296~~230,~~886~~670.5541	~~279.39~~-	3,~~297~~230,~~165~~670.9441	-	-	13,234,618.21
P	SUB,EXE	-			-	4685,~~539~~850.4431	-	4685,~~539~~850.4431	-	-	-
UT-R	R	-			-	-	-	-	-	-	-
Total		756,263,898.00			~~756~~751,~~263~~425,~~897~~431.6023	4,~~503~~513,~~956~~119.2481	46,~~838~~154,~~466~~540.3771	910,~~342~~667,~~422~~660.6152	-	-	~~751~~745,~~425~~270,~~431~~890.2352
	Interest Accrual Detail				Current Period Factor Information per $1,000 of Original Face
						Orig. Principal	Prior				Current
	Period	Period				(with Notional)	Principal			Total	Principal
Class	Starting	Ending		Method	Cusip	Balance	Balance	Interest	Principal	Distribution	Balance
							(1)	(2)	(3)	(4)=(2)+(3)	(5)
A-1	0405/2927/03	0506/2624/03		A-Act/360	61746WG38	384,805,000.00	~~1,000~~993.~~000000~~109465	1.~~398297~~440009	67.~~890535~~293048	8.~~288831~~733057	~~993~~985.~~109465~~816417
A-2	0405/2927/03	0506/2624/03		A-Act/360	61746WF47	131,500,000.00	~~1,000~~990.~~000000~~708088	1.~~312741~~348739	914.~~291912~~227362	1015.~~604653~~576101	~~990~~976.~~708088~~480727
A-3	0405/2927/03	0506/2624/03		A-Act/360	61746WG53	63,831,000.00	~~1,000~~984.~~000000~~885268	1.~~180519~~205937	1523.~~114732~~143006	1624.~~295251~~348943	~~984~~961.~~885268~~742262
A-4	0405/2927/03	0506/2624/03		A-Act/360	61746WG61	40,000,000.00	1,000.000000	1.~~413852~~466111	-	1.~~413852~~466111	1,000.000000
M-1	0405/2927/03	0506/2624/03		A-Act/360	61746WF54	40,838,000.00	1,000.000000	1.~~701630~~764167	-	1.~~701630~~764167	1,000.000000
M-2	0405/2927/03	0506/2624/03		A-Act/360	61746WF62	41,595,000.00	1,000.000000	2.~~580519~~674445	-	2.~~580519~~674445	1,000.000000
M-3	0405/2927/03	0506/2624/03		A-Act/360	61746WF70	13,234,000.00	1,000.000000	2.~~852741~~956389	-	2.~~852741~~956389	1,000.000000
B-1	0405/2927/03	0506/2624/03		A-Act/360	61746WF88	11,344,000.00	1,000.000000	3.~~591630~~721667	-	3.~~591630~~721667	1,000.000000
B-2	0405/2927/03	0506/2624/03		A-Act/360	61746WF96	7,563,000.00	1,000.000000	34.~~941630~~084166	-	34.~~941630~~084166	1,000.000000
B-3	0405/2927/03	0506/2624/03		A-Act/360	61746WG20	8,319,000.00	1,000.000000	34.~~941630~~084166	-	34.~~941630~~084166	1,000.000000
X	0405/2927/03	0506/2624/03		A-Act/360		13,234,898.00	999.~~999970~~978860	~~249~~244.~~105550~~102403	~~0.021110~~-	~~249~~244.~~126660~~102403	999.978860
P	0405/2927/03	0506/2624/03		-		-	-	-	-	-	-
UT-R	0405/2927/03	0506/2624/03		-		-	-	-	-	-	-
							Page 2 of 24				© COPYRIGHT 2003 Deutsche Bank
	MORGAN STANLEY CAPITAL I INC. 2003-NC4
	Morgan Stanley Dean Witter Capital I Inc. 2003-NC4
	Mortgage Pass-Through Certificates
	REMIC II Series 2003-NC4
	Certificate Payment Report for May 27, 2003 Distribution
	Certificate Payment Report for June 25, 2003 Distribution
	Distribution in Dollars - to Date
											Current
	Original				Unscheduled	Scheduled	Total	Total	Realized	Deferred	Principal
Class	Face Value		Interest		Principal	Principal	Principal	Distribution	Losses	Interest	Balance
	(1)		(2)		(3)	(4)	(5)=(3)+(4)	(6)=(2)+(5)	(7)	(8)	(9)=(1)-(5)-(7)+(8)
A-1	384,805,000.00		~~538~~1,~~071~~092,194.5511		24,~~321~~852,~~424~~994.7668	~~330~~604,~~087~~918.3886	25,~~651~~457,~~512~~913.1355	36,~~189~~550,~~583~~107.6866	-	-	~~382~~379,~~153~~347,~~487~~086.8745
A-2	131,500,000.00		~~172~~349,~~625~~984.4664		12,~~069~~757,~~773~~454.4509	~~152~~335,~~112~~330.9337	13,~~221~~092,~~886~~784.3746	13,~~394~~442,~~511~~769.8310	-	-	~~130~~128,~~278~~407,~~113~~215.6354
A-3	63,831,000.00		75152,~~353~~329.7088		~~844~~2,~~681~~177,256.7339	~~120~~264,~~106~~773.7529	~~964~~2,~~788~~442,029.4768	12,~~040~~594,~~142~~359.1756	-	-	6261,~~866~~388,~~211~~970.5332
A-4	40,000,000.00		56115,~~554~~198.0953		-	-	-	56115,~~554~~198.0953	-	-	40,000,000.00
M-1	40,838,000.00		69141,~~491~~536.1721		-	-	-	69141,~~491~~536.1721	-	-	40,838,000.00
M-2	41,595,000.00		~~107~~218,~~336~~580.6820		-	-	-	~~107~~218,~~336~~580.6820	-	-	41,595,000.00
M-3	13,234,000.00		3776,~~753~~878.1803		-	-	-	3776,~~753~~878.1803	-	-	13,234,000.00
B-1	11,344,000.00		4082,~~743~~962.4504		-	-	-	4082,~~743~~962.4504	-	-	11,344,000.00
B-2	7,563,000.00		2960,~~810~~699.5510		-	-	-	2960,~~810~~699.5510	-	-	7,563,000.00
B-3	8,319,000.00		3266,~~790~~766.4260		-	-	-	3266,~~790~~766.4260	-	-	8,319,000.00
X	13,234,898.00		36,~~296~~527,~~886~~556.5596		244.61	34.78	279.39	36,~~297~~527,~~165~~836.9435	-	-	13,234,618.21
P	-		46132,~~539~~389.4475		-	-	-	46132,~~539~~389.4475	-	-	-
UT-R	-		-		-	-	-	-	-	-	-
Total	756,263,898.00		49,~~503~~017,~~956~~076.2405		49,~~236~~787,~~124~~949.5477	~~602~~1,~~341~~205,057.8331	410,~~838~~993,~~466~~007.3708	920,~~342~~010,~~422~~083.6113	-	-	~~751~~745,~~425~~270,~~431~~890.2352
	Interest Detail
	Pass-	Prior Principal				Non-	Prior	Unscheduled		Paid or	Current
	Through	(with Notional)			Accrued	Supported	Unpaid	Interest	Optimal	Deferred	Unpaid
Class	Rate	Balance			Interest	Interest SF	Interest	Adjustments	Interest	Interest	Interest
					(1)	(2)	(3)	(4)	(5)=(1)-(2)+(3)+(4)	(6)	(7)=(5)-(6)
A-1	1.~~68781~~80000%	~~384~~382,~~805~~153,~~000~~487.0087			~~538~~554,~~071~~122.5556	-	-	-	~~538~~554,~~071~~122.5556	~~538~~554,~~071~~122.5556	-
A-2	1.~~51781~~69000%	~~131~~130,~~500~~278,~~000~~113.0063			~~172~~177,~~625~~359.4618	-	-	-	~~172~~177,~~625~~359.4618	~~172~~177,~~625~~359.4618	-
A-3	1.~~81781~~52000%	6362,~~831~~866,~~000~~211.0053			7576,~~353~~976.7018	-	-	-	7576,~~353~~976.7018	7576,~~353~~976.7018	-
A-4	21.~~18781~~82000%	40,000,000.00			5658,~~554~~644.0944	-	-	-	5658,~~554~~644.0944	5658,~~554~~644.0944	-
M-1	32.~~31781~~19000%	40,838,000.00			6972,~~491~~045.1704	-	-	-	6972,~~491~~045.1704	6972,~~491~~045.1704	-
M-2	3.~~66781~~32000%	41,595,000.00			~~107~~111,~~336~~243.6852	-	-	-	~~107~~111,~~336~~243.6852	~~107~~111,~~336~~243.6852	-
M-3	43.~~61781~~67000%	13,234,000.00			3739,~~753~~124.1885	-	-	-	3739,~~753~~124.1885	3739,~~753~~124.1885	-
B-1	54.~~06781~~62000%	11,344,000.00			4042,~~743~~218.4559	-	-	-	4042,~~743~~218.4559	4042,~~743~~218.4559	-
B-2	5.~~06781~~07000%	7,563,000.00			2930,~~810~~888.55	-	-	-	2930,~~810~~888.55	2930,~~810~~888.55	-
B-3	5.~~23133~~07000%	8,319,000.00			3233,~~790~~976.4218	-	-	-	3233,~~790~~976.4218	3233,~~790~~976.4218	-
X	5.15927%	13,234,~~897~~618.6021			3,~~296~~230,~~886~~670.5541	-	-	-	3,~~296~~230,~~886~~670.5541	3,~~296~~230,~~886~~670.5541	-
P		-			4685,~~539~~850.4431	-	-	-	4685,~~539~~850.4431	4685,~~539~~850.4431	-
UT-R		-			-	-	-	-	-	-	-
Total		~~756~~751,~~263~~425,~~897~~431.6023			4,~~503~~513,~~956~~119.2481	-	-	-	4,~~503~~513,~~956~~119.2481	4,~~503~~513,~~956~~119.2481	-
							Page 3 of 24				© COPYRIGHT 2003 Deutsche Bank
	MORGAN STANLEY CAPITAL I INC. 2003-NC4
	Morgan Stanley Dean Witter Capital I Inc. 2003-NC4
	Mortgage Pass-Through Certificates
	Collection Account Report for May 27, 2003 Distribution
	Collection Account Report for June 25, 2003 Distribution
	Collection Account Report
SUMMARY						GROUP 2	GROUP 1	TOTAL
	Principal Collections					23,~~186~~348,~~801~~139.1229	2,~~651~~806,~~665~~401.2541	46,~~838~~154,~~466~~540.3770
	Principal Other Accounts					0.00	0.00	0.00
	TOTAL NET PRINCIPAL					23,~~186~~348,~~801~~139.1229	2,~~651~~806,~~665~~401.2541	46,~~838~~154,~~466~~540.3770
	Interest Collections					1,~~728~~706,~~609~~257.8097	2,~~793~~759,~~961~~707.0511	4,~~522~~465,~~570~~965.8508
	Interest Withdrawals					0.00	0.00	0.00
	Interest Other Accounts					0.00	0.00	0.00
	Interest Fees					(2213,~~655~~360.5741)	(4225,~~498~~335.4815)	(6538,~~154~~695.0556)
	TOTAL NET INTEREST					1,~~705~~692,~~954~~897.2356	2,~~751~~734,~~462~~371.5796	4,~~457~~427,~~416~~269.8052
	TOTAL PRINCIPAL & INTEREST DISTRIBUTABLE					35,~~892~~041,~~755~~036.3585	5,~~403~~540,~~127~~773.8237	910,~~295~~581,~~883~~810.1722
	Prepayment Penalties Collected							4685,~~539~~850.4431
	TOTAL AVAILABLE FUNDS FOR DISTRIBUTION							910,~~342~~667,~~422~~660.6153
PRINCIPAL - COLLECTIONS						GROUP 2	GROUP 1	TOTAL
	Scheduled Principal Received					239,~~702~~219.7155	~~362~~363,~~639~~495.1293	602,~~341~~715.8348
	Prepayments In Full					13,~~911~~083,~~259~~084.2302	2,~~252~~421,~~218~~058.0050	45,~~163~~504,~~477~~142.2352
	Curtailments					3525,~~839~~835.1872	3621,~~808~~846.1398	7247,~~647~~682.3170
	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					(~~197~~216,~~282~~777.1027)	(~~288~~321,~~202~~391.7884)	(~~485~~538,~~484~~169.8811)
	Advanced Principal					~~197~~216,~~282~~777.1027	~~288~~321,~~202~~391.7884	~~485~~538,~~484~~169.8811
	TOTAL PRINCIPAL COLLECTED					23,~~186~~348,~~801~~139.1229	2,~~651~~806,~~665~~401.2541	46,~~838~~154,~~466~~540.3770
				Page 4 of 24				© COPYRIGHT 2003 Deutsche Bank
	MORGAN STANLEY CAPITAL I INC. 2003-NC4
	Morgan Stanley Dean Witter Capital I Inc. 2003-NC4
	Mortgage Pass-Through Certificates
	Collection Account Report for May 27, 2003 Distribution
	Collection Account Report for June 25, 2003 Distribution
	Collection Account Report
PRINCIPAL - WITHDRAWALS						GROUP 2	GROUP 1	TOTAL
SPACE INTENTIONALLY LEFT BLANK
PRINCIPAL - OTHER ACCOUNTS						GROUP 2	GROUP 1	TOTAL
SPACE INTENTIONALLY LEFT BLANK
INTEREST - COLLECTIONS						GROUP 2	GROUP 1	TOTAL
	Scheduled Interest					1,~~826~~812,~~967~~989.8307	2,~~949~~931,~~340~~131.2551	4,~~776~~744,~~308~~120.0858
	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
	Net Prepayment Interest Shortfalls					0.00	0.00	0.00
	Delinquent Interest					(1,~~505~~632,~~279~~264.0377)	(2,~~352~~591,~~170~~264.6422)	(34,~~857~~223,~~449~~528.6799)
	Interest Advanced					1,~~406~~525,~~921~~533.0067	2,~~196~~419,~~791~~839.4482	3,~~603~~945,~~712~~373.4449
	TOTAL INTEREST COLLECTED					1,~~728~~706,~~609~~257.8097	2,~~793~~759,~~961~~707.0511	4,~~522~~465,~~570~~965.8508
				Page 5 of 24				© COPYRIGHT 2003 Deutsche Bank
	MORGAN STANLEY CAPITAL I INC. 2003-NC4
	Morgan Stanley Dean Witter Capital I Inc. 2003-NC4
	Mortgage Pass-Through Certificates
	Collection Account Report for May 27, 2003 Distribution
	Collection Account Report for June 25, 2003 Distribution
	Collection Account Report
INTEREST - WITHDRAWALS						GROUP 2	GROUP 1	TOTAL
	Trust Fund Expenses							0.00
	Nonrecoverable Advances							0.00
	Reimbursements to Master Servicer							0.00
	TOTAL INTEREST WITHDRAWALS							0.00
INTEREST - OTHER ACCOUNTS						GROUP 2	GROUP 1	TOTAL
	TOTAL INTEREST OTHER ACCOUNTS					0.00	0.00	0.00
INTEREST - FEES						GROUP 2	GROUP 1	TOTAL
	Current Servicing Fees					2111,~~220~~936.6340	4023,~~152~~002.1003	6134,~~372~~938.7343
	Trustee Fees					1,~~434~~424.9401	2,~~346~~333.3812	3,~~781~~757.3213
	TOTAL INTEREST OTHER FEES					2213,~~655~~360.5741	4225,~~498~~335.4815	6538,~~154~~695.0556
				Page 6 of 24				© COPYRIGHT 2003 Deutsche Bank
	MORGAN STANLEY CAPITAL I INC. 2003-NC4
	Morgan Stanley Dean Witter Capital I Inc. 2003-NC4
	Mortgage Pass-Through Certificates
	Credit Enhancement Report for May 27, 2003 Distribution
	Credit Enhancement Report for June 25, 2003 Distribution
	Credit Enhancement Report
ACCOUNTS						GROUP 2	GROUP 1	TOTAL
	Excess Reserve Fund Balance (Ending)							0.00
INSURANCE						GROUP 2	GROUP 1	TOTAL
SPACE INTENTIONALLY LEFT BLANK
STRUCTURAL FEATURES						GROUP 2	GROUP 1	TOTAL
	Beginning Subordinated Amount							13,234,~~897~~618.6020
	Ending Subordinated Amount							13,234,618.21
	Specified Subordinated Amount							13,234,618.21
	Senior Enhancement Percentage							18.1227%
				Page 7 of 24				© COPYRIGHT 2003 Deutsche Bank
	MORGAN STANLEY CAPITAL I INC. 2003-NC4
	Morgan Stanley Dean Witter Capital I Inc. 2003-NC4
	Mortgage Pass-Through Certificates
	Collateral Report for May 27, 2003 Distribution
	Collateral Report for June 25, 2003 Distribution
	Collateral Report
COLLATERAL						GROUP 2	GROUP 1	TOTAL
	Loan Count:
	Original					1557	3075	4632
	Prior					-1,551	-3,061	-4,612
	Prefunding					-	-	-
	Scheduled Paid Offs					-	-	-
	Full Voluntary Prepayments					(612)	(1415)	(2027)
	Repurchases					-	-	-
	Liquidations					-	-	-
	Current					1,~~551~~539	3,~~061~~046	4,~~612~~585
	Principal Balance:
	Original					286,988,791.32	469,275,106.28	756,263,897.60
	Prior					-284,801,990.20	-466,623,441.03	-751,425,431.23
	Prefunding					-	-	-
	Scheduled Principal					(239,~~702~~219.7155)	(~~362~~363,~~639~~495.1293)	(602,~~341~~715.8348)
	Partial and Full Voluntary Prepayments					(13,~~947~~108,~~098~~919.4174)	(2,~~289~~442,~~026~~905.1348)	(45,~~236~~551,~~124~~825.5422)
	Repurchases					-	-	-
	Liquidations					-	-	-
	Current					~~284~~281,~~801~~453,~~990~~850.2091	~~466~~463,~~623~~817,~~441~~039.0361	~~751~~745,~~425~~270,~~431~~890.2352
PREFUNDING						GROUP 2	GROUP 1	TOTAL
SPACE INTENTIONALLY LEFT BLANK
	Group 1
	Group 2
Current Prin Balance by Groups (in millions of dollars)					Total Current Principal Balance (in millions of dollars)
				Page 8 of 24				© COPYRIGHT 2003 Deutsche Bank
	MORGAN STANLEY CAPITAL I INC. 2003-NC4
	Morgan Stanley Dean Witter Capital I Inc. 2003-NC4
	Mortgage Pass-Through Certificates
	Collateral Report for May 27, 2003 Distribution
	Collateral Report for June 25, 2003 Distribution
	Collateral Report
CHARACTERISTICS						GROUP 2	GROUP 1	TOTAL
	Weighted Average Coupon Original					7.639188%	7.541862%	7.578796%
	Weighted Average Coupon Prior					7.639188%	7.541862%	7.578796%
	Weighted Average Coupon Current					7.~~639188~~638946%	7.~~541862~~537894%	7.~~578796~~576194%
	Weighted Average Months to Maturity Original					343	354	350
	Weighted Average Months to Maturity Prior					-343	-354	-350
	Weighted Average Months to Maturity Current					~~343~~341	~~354~~353	~~350~~348
	Weighted Avg Remaining Amortization Term Original					342	354	349
	Weighted Avg Remaining Amortization Term Prior					-342	-354	-349
	Weighted Avg Remaining Amortization Term Current					~~342~~341	~~354~~353	~~349~~348
	Weighted Average Seasoning Original					3.45	3.27	3.34
	Weighted Average Seasoning Prior					-3.45	-3.27	-3.34
	Weighted Average Seasoning Current					34.4544	34.27	34.34
Note: Original information refers to deal issue.
	Group 1
	Group 2
WAC by Groups					Total WAC
WARAT by Groups					Total WARAT
Note: Dates correspond to distribution dates.
				Page 9 of 24				© COPYRIGHT 2003 Deutsche Bank
	MORGAN STANLEY CAPITAL I INC. 2003-NC4
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	Mortgage Pass-Through Certificates
	Collateral Report for May 27, 2003 Distribution
	Collateral Report for June 25, 2003 Distribution
	Collateral Report
ARM CHARACTERISTICS						GROUP 2	GROUP 1	TOTAL
	Weighted Average Margin Original					3.305%	5.530%
	Weighted Average Margin Prior					3.305%	5.530%
	Weighted Average Margin Current					3.~~305~~298%	5.~~530~~525%
	Weighted Average Max Rate Original					7.511%	12.459%
	Weighted Average Max Rate Prior					7.511%	12.459%
	Weighted Average Max Rate Current					7.~~511~~496%	12.~~459~~447%
	Weighted Average Min Rate Original					3.816%	6.512%
	Weighted Average Min Rate Prior					3.816%	6.512%
	Weighted Average Min Rate Current					3.~~816~~808%	6.~~512~~505%
	Weighted Average Cap Up Original					0.844%	1.291%
	Weighted Average Cap Up Prior					0.844%	1.291%
	Weighted Average Cap Up Current					0.~~844~~843%	1.~~291~~290%
	Weighted Average Cap Down Original					0.844%	1.291%
	Weighted Average Cap Down Prior					0.844%	1.291%
	Weighted Average Cap Down Current					0.~~844~~843%	1.~~291~~290%
Note: Original information refers to deal issue.
SERVICING FEES / ADVANCES						GROUP 2	GROUP 1	TOTAL
	Current Servicing Fees					2111,~~220~~936.6340	4023,~~152~~002.1003	6134,~~372~~938.7343
	Delinquent Servicing Fees					98106,~~358~~731.0310	~~155~~171,~~379~~424.2040	~~253~~278,~~737~~155.2350
	TOTAL SERVICING FEES					~~119~~118,~~578~~667.6650	~~195~~194,~~531~~426.3043	~~315~~313,~~109~~093.9693
	Prepayment Interest Shortfall					410,~~350~~503.0816	6,~~352~~264.1378	1016,~~702~~767.2194
	Compensating Interest					(410,~~350~~503.0816)	(6,~~352~~264.1378)	(1016,~~702~~767.2194)
	Delinquent Servicing Fees					(98106,~~358~~731.0310)	(~~155~~171,~~379~~424.2040)	(~~253~~278,~~737~~155.2350)
	COLLECTED SERVICING FEES					2111,~~220~~936.6340	4023,~~152~~002.1003	6134,~~372~~938.7343
	Aggregate Advances with respect to this Distribution					1,~~604~~742,~~203~~310.1094	2,~~484~~741,~~994~~231.2266	4,~~089~~483,~~197~~542.3260
	Current Nonrecoverable Advances					0.00	0.00	0.00
	Cumulative Nonrecoverable Advances					0.00	0.00	0.00
ADDITIONAL COLLATERAL INFORMATION						GROUP 2	GROUP 1	TOTAL
	Net Prepayment Interest Shortfall							0.00
	Net Monthly Excess Cash Flow							3,~~296~~230,~~886~~670.5543
	Ending Pool Stated Principal Balance					~~284~~281,~~801~~453,~~990~~850.2091	~~466~~463,~~623~~817,~~441~~039.0361	~~751~~745,~~425~~270,~~431~~890.2352
				Page 10 of 24				© COPYRIGHT 2003 Deutsche Bank
	MORGAN STANLEY CAPITAL I INC. 2003-NC4
	Morgan Stanley Dean Witter Capital I Inc. 2003-NC4
	Mortgage Pass-Through Certificates
	Delinquency Report for May 27, 2003 Distribution
	Delinquency Report for June 25, 2003 Distribution
	Delinquency Report - Total
				<1 PAYMENT	1 PAYMENT	2 PAYMENTS	3+ PAYMENTS	TOTAL
DELINQUENT		Balance			36,~~763~~720,~~143~~449.2582	-1,226,271.25	-	37,~~763~~946,~~143~~721.2507
		% Balance			0.5090%	0.0016%	0.00%	01.5007%
		# Loans			1848	-6	-	1854
		% # Loans			01.3905%	0.0013%	0.00%	01.3918%
FORECLOSURE		Balance		-	-	-	-240,431.78	-240,431.78
		% Balance		0.00%	0.00%	0.00%	0.0003%	0.0003%
		# Loans		-	-	-	-1	-1
		% # Loans		0.00%	0.00%	0.00%	0.0002%	0.0002%
BANKRUPTCY		Balance		~~201~~250,~~428~~368.7305	-	-	-	~~201~~250,~~428~~368.7305
		% Balance		0.03%	0.00%	0.00%	0.00%	0.03%
		# Loans		23	-	-	-	23
		% # Loans		0.0407%	0.00%	0.00%	0.00%	0.0407%
REO		Balance		-	-	-	-	-
		% Balance		0.00%	0.00%	0.00%	0.00%	0.00%
		# Loans		-	-	-	-	-
		% # Loans		0.00%	0.00%	0.00%	0.00%	0.00%
TOTAL		Balance		~~201~~250,~~428~~368.7305	36,~~763~~720,~~143~~449.2582	-1,226,271.25	-240,431.78	38,~~964~~437,~~571~~520.9890
		% Balance		0.03%	0.5090%	0.0016%	0.0003%	01.5313%
		# Loans		23	1848	-6	-1	2058
		% # Loans		0.0407%	01.3905%	0.0013%	0.0002%	01.4326%
Note: <1 Payment = 0-30days, 1 Payment = 31-60days, 2 Payments = 61-90days, 3+ Payments = 91+
								6 Months Moving Average
1 or 2 Payments Delinquent					3 or More Payments Delinquent
Total Foreclosure					Total Bankruptcy and REO
Note: Dates correspond to distribution dates.
				Page 11 of 24				© COPYRIGHT 2003 Deutsche Bank
	MORGAN STANLEY CAPITAL I INC. 2003-NC4
	Morgan Stanley Dean Witter Capital I Inc. 2003-NC4
	Mortgage Pass-Through Certificates
	Delinquency Report for May 27, 2003 Distribution
	Delinquency Report for June 25, 2003 Distribution
	Delinquency Report - Group 1 Group
				<1 PAYMENT	1 PAYMENT	2 PAYMENTS	3+ PAYMENTS	TOTAL
DELINQUENT		Balance			24,~~114~~709,~~021~~003.3202	-637,995.05	-	25,~~114~~346,~~021~~998.3207
		% Balance			01.4502%	0.0014%	0.00%	01.4515%
		# Loans			1330	-4	-	1334
		% # Loans			0.4298%	0.0013%	0.00%	01.4212%
FORECLOSURE		Balance		-	-	-	-240,431.78	-240,431.78
		% Balance		0.00%	0.00%	0.00%	0.0005%	0.0005%
		# Loans		-	-	-	-1	-1
		% # Loans		0.00%	0.00%	0.00%	0.0003%	0.0003%
BANKRUPTCY		Balance		~~148~~197,~~070~~091.1748	-	-	-	~~148~~197,~~070~~091.1748
		% Balance		0.0304%	0.00%	0.00%	0.00%	0.0304%
		# Loans		12	-	-	-	12
		% # Loans		0.0307%	0.00%	0.00%	0.00%	0.0307%
REO		Balance		-	-	-	-	-
		% Balance		0.00%	0.00%	0.00%	0.00%	0.00%
		# Loans		-	-	-	-	-
		% # Loans		0.00%	0.00%	0.00%	0.00%	0.00%
TOTAL		Balance		~~148~~197,~~070~~091.1748	24,~~114~~709,~~021~~003.3202	-637,995.05	-240,431.78	25,~~262~~784,~~091~~521.4933
		% Balance		0.0304%	01.4502%	0.0014%	0.0005%	01.4825%
		# Loans		12	1330	-4	-1	1437
		% # Loans		0.0307%	0.4298%	0.0013%	0.0003%	01.4621%
Note: <1 Payment = 0-30days, 1 Payment = 31-60days, 2 Payments = 61-90days, 3+ Payments = 91+
								6 Months Moving Average
1 or 2 Payments Delinquent					3 or More Payments Delinquent
Total Foreclosure					Total Bankruptcy and REO
Note: Dates correspond to distribution dates.
				Page 12 of 24				© COPYRIGHT 2003 Deutsche Bank
	MORGAN STANLEY CAPITAL I INC. 2003-NC4
	Morgan Stanley Dean Witter Capital I Inc. 2003-NC4
	Mortgage Pass-Through Certificates
	Delinquency Report for May 27, 2003 Distribution
	Delinquency Report for June 25, 2003 Distribution
	Delinquency Report - Group 2 Group
				<1 PAYMENT	1 PAYMENT	2 PAYMENTS	3+ PAYMENTS	TOTAL
DELINQUENT		Balance			12,~~649~~011,~~121~~446.9380	-588,276.20	-	12,~~649~~599,~~121~~723.9300
		% Balance			0.5871%	0.0021%	0.00%	0.5892%
		# Loans			518	-2	-	520
		% # Loans			01.3217%	0.0013%	0.00%	01.3230%
FORECLOSURE		Balance		-	-	-	-	-
		% Balance		0.00%	0.00%	0.00%	0.00%	0.00%
		# Loans		-	-	-	-	-
		% # Loans		0.00%	0.00%	0.00%	0.00%	0.00%
BANKRUPTCY		Balance		53,~~358~~276.5657	-	-	-	53,~~358~~276.5657
		% Balance		0.02%	0.00%	0.00%	0.00%	0.02%
		# Loans		1	-	-	-	1
		% # Loans		0.06%	0.00%	0.00%	0.00%	0.06%
REO		Balance		-	-	-	-	-
		% Balance		0.00%	0.00%	0.00%	0.00%	0.00%
		# Loans		-	-	-	-	-
		% # Loans		0.00%	0.00%	0.00%	0.00%	0.00%
TOTAL		Balance		53,~~358~~276.5657	12,~~649~~011,~~121~~446.9380	-588,276.20	-	12,~~702~~652,~~480~~999.4957
		% Balance		0.02%	0.5871%	0.0021%	0.00%	0.6094%
		# Loans		1	518	-2	-	621
		% # Loans		0.06%	01.3217%	0.0013%	0.00%	01.3936%
Note: <1 Payment = 0-30days, 1 Payment = 31-60days, 2 Payments = 61-90days, 3+ Payments = 91+
								6 Months Moving Average
1 or 2 Payments Delinquent					3 or More Payments Delinquent
Total Foreclosure					Total Bankruptcy and REO
Note: Dates correspond to distribution dates.
				Page 13 of 24				© COPYRIGHT 2003 Deutsche Bank
	MORGAN STANLEY CAPITAL I INC. 2003-NC4
	Morgan Stanley Dean Witter Capital I Inc. 2003-NC4
	Mortgage Pass-Through Certificates
	REO Report for May 27, 2003 Distribution
	REO Report for June 25, 2003 Distribution
	REO Report - Mortgage Loans that Become REO During Current Distribution
SUMMARY				LOAN GROUP
Total Loan Count = 0				Loan Group 1 = Group 1 Group; REO Book Value = 000.00
Total Original Principal Balance = 000.00				Loan Group 2 = Group 2 Group; REO Book Value = 000.00
Total Current Balance = 000.00
REO Book Value = 000.00
REO Book Value reported corresponds to total REO loans, including loans that become REO during current distribution.
Loan Number		Original	Stated		Current	State &
&		Principal	Principal	Paid to	Note	LTV at	Original	Origination
Loan Group		Balance	Balance	Date	Rate	Origination	Term	Date
SPACE INTENTIONALLY LEFT BLANK
				Page 14 of 24				© COPYRIGHT 2003 Deutsche Bank
	MORGAN STANLEY CAPITAL I INC. 2003-NC4
	Morgan Stanley Dean Witter Capital I Inc. 2003-NC4
	Mortgage Pass-Through Certificates
	Foreclosure Report for May 27, 2003 Distribution
	Foreclosure Report for June 25, 2003 Distribution
	Foreclosure Report - Mortgage Loans that Become Foreclosure During Current Distribution
SUMMARY				LOAN GROUP
Total Loan Count = 0				Loan Group 1 = Group 1 Group
Total Loan Count = 1				Loan Group 1 = Group 1 Group
Total Original Principal Balance = 000.00				Loan Group 2 = Group 2 Group
Total Original Principal Balance = 241,400.00				Loan Group 2 = Group 2 Group
Total Current Balance = 000.00
Total Current Balance = 240,431.78
Loan Number		Original	Stated		Current	State &
&		Principal	Principal	Paid to	Note	LTV at	Original	Origination
Loan Group		Balance	Balance	Date	Rate	Origination	Term	Date
SPACE INTENTIONALLY LEFT BLANK
748475 1		241,400.00	240,431.78	Jan-01-03	7.650%	CA - 69.97%	360	Dec-31-02
				Page 15 of 24				© COPYRIGHT 2003 Deutsche Bank
	MORGAN STANLEY CAPITAL I INC. 2003-NC4
	Morgan Stanley Dean Witter Capital I Inc. 2003-NC4
	Mortgage Pass-Through Certificates
	Prepayment Report for May 27, 2003 Distribution
	Prepayment Report for June 25, 2003 Distribution
	Prepayment Report - Voluntary Prepayments
VOLUNTARY PREPAYMENTS						GROUP 2	GROUP 1	TOTAL
	Current
	Number of Paid in Full Loans					612	1415	2027
	Number of Repurchased Loans					-	-	-
	Total Number of Loans Prepaid in Full					612	1415	2027
	Paid in Full Balance					13,~~911~~083,~~259~~084.2302	2,~~252~~421,~~218~~058.0050	45,~~163~~504,~~477~~142.2352
	Repurchased Loans Balance					-	-	-
	Curtailments Amount					3525,~~839~~835.1872	3621,~~808~~846.1398	7247,~~647~~682.3170
	Total Prepayment Amount					13,~~947~~108,~~098~~919.4174	2,~~289~~442,~~026~~905.1348	45,~~236~~551,~~124~~825.5422
	Cumulative
	Number of Paid in Full Loans					618	1429	2047
	Number of Repurchased Loans					-	-	-
	Total Number of Loans Prepaid in Full					618	1429	2047
	Paid in Full Balance					14,~~911~~994,~~259~~343.2325	24,~~252~~673,~~218~~276.0050	49,~~163~~667,~~477~~619.2375
	Repurchased Loans Balance					-	-	-
	Curtailments Amount					3561,~~839~~674.1890	3658,~~808~~655.1311	72120,~~647~~330.3101
	Total Prepayment Amount					15,~~947~~056,~~098~~018.4115	24,~~289~~731,~~026~~931.1361	49,~~236~~787,~~124~~949.5476
SPACE INTENTIONALLY LEFT BLANK
Total Prepayments by Groups (in thousands of dollars)					Total Prepayments (in thousands of dollars)
				Page 16 of 24				© COPYRIGHT 2003 Deutsche Bank
	MORGAN STANLEY CAPITAL I INC. 2003-NC4
	Morgan Stanley Dean Witter Capital I Inc. 2003-NC4
	Mortgage Pass-Through Certificates
	Prepayment Report for May 27, 2003 Distribution
	Prepayment Report for June 25, 2003 Distribution
	Prepayment Report - Voluntary Prepayments
VOLUNTARY PREPAYMENT RATES						GROUP 2	GROUP 1	TOTAL
	SMM					01.6809%	0.4952%	0.5674%
	3 Months Avg SMM
	12 Months Avg SMM
	Avg SMM Since Cut-off					0.6889%	0.4951%	0.5665%
	CPR					712.8535%	56.7011%	68.52%
	3 Months Avg CPR
	12 Months Avg CPR
	Avg CPR Since Cut-off					710.8513%	5.7091%	67.5253%
	PSA					~~1138~~1389.7595%	~~871~~715.4717%	~~977~~982.0260%
	3 Months Avg PSA Approximation
	12 Months Avg PSA Approximation
	Avg PSA Since Cut-off Approximation					~~1138~~1283.7577%	~~871~~783.4700%	~~977~~980.0288%
	Group 1
	Group 2
CPR by Groups					Total CPR
PSA by Groups					Total PSA
				Page 17 of 24				© COPYRIGHT 2003 Deutsche Bank
	MORGAN STANLEY CAPITAL I INC. 2003-NC4
	Morgan Stanley Dean Witter Capital I Inc. 2003-NC4
	Mortgage Pass-Through Certificates
	Prepayment Report for May 27, 2003 Distribution
	Prepayment Report for June 25, 2003 Distribution
	Prepayment Report - Voluntary Prepayments
	Group 1
	Group 2
CPR Avg since Cut-Off by Groups					Total CPR Avg since Cut-Off
PSA Avg since Cut-Off by Groups					Total PSA Avg since Cut-Off
PREPAYMENT CALCULATION METHODOLOGY
Single Monthly Mortality (SMM): (Voluntary partial and full prepayments + Repurchases)/(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 18 of 24				© COPYRIGHT 2003 Deutsche Bank
	MORGAN STANLEY CAPITAL I INC. 2003-NC4
	Morgan Stanley Dean Witter Capital I Inc. 2003-NC4
	Mortgage Pass-Through Certificates
	Prepayment Detail Report for May 27, 2003 Distribution
	Prepayment Detail Report for June 25, 2003 Distribution
	Prepayment Detail Report - Loans Prepaid in Full During Current Distribution
SUMMARY						LOAN GROUP
Total Loan Count = 20						Loan Group 1 = Group 1 Group
Total Loan Count = 27						Loan Group 1 = Group 1 Group
Total Original Principal Balance = 4,170,900.00						Loan Group 2 = Group 2 Group
Total Original Principal Balance = 5,518,350.00						Loan Group 2 = Group 2 Group
Total Prepayment Amount = 4,163,477.23
Total Prepayment Amount = 5,504,142.52
Loan Number			Original			Current	State &	Type Prepayment
&		Loan	Principal	Prepayment	Prepayment	Note	LTV at	&	Origination
Loan Group		Status	Balance	Amount	Date	Rate	Origination	Original Term	Date
746304 1			225,250.00	224,719.64	Apr-04-03	7.250%	CA - 85.00%	Paid Off - 360	Dec-31-02
717450 1			103,500.00	103,241.37	May-19-03	9.500%	NJ - 90.00%	Paid Off - 360	Nov-07-02
764036 1			93,000.00	92,720.32	Apr-02-03	5.990%	MN - 62.00%	Paid Off - 360	Dec-31-02
721058 1			104,800.00	104,653.66	May-21-03	9.800%	VA - 80.00%	Paid Off - 360	Jan-10-03
778467 1			175,000.00	174,797.89	Apr-15-03	8.750%	FL - 70.00%	Paid Off - 360	Jan-30-03
755697 1			274,550.00	273,685.48	May-02-03	7.250%	CA - 95.00%	Paid Off - 360	Dec-19-02
781224 1			213,000.00	212,662.29	Apr-30-03	7.250%	CA - 69.84%	Paid Off - 360	Jan-30-03
763319 1			323,000.00	322,032.10	May-30-03	7.500%	CA - 85.00%	Paid Off - 360	Dec-20-02
782330 1			212,500.00	212,213.89	Apr-17-03	8.000%	CA - 85.00%	Paid Off - 360	Jan-31-03
764020 1			216,000.00	215,212.55	May-16-03	6.500%	CA - 90.00%	Paid Off - 360	Dec-13-02
784406 1			106,000.00	105,876.46	Apr-28-03	8.740%	MA - 73.10%	Paid Off - 360	Jan-31-03
774623 1			169,000.00	169,000.00	May-30-03	5.420%	CO - 85.35%	Paid Off - 300	Jan-08-03
786080 1			104,000.00	103,373.77	Apr-30-03	8.650%	MO - 75.91%	Paid Off - 360	Jan-08-03
775817 1			81,000.00	80,744.92	May-14-03	7.250%	MI - 90.00%	Paid Off - 360	Jan-03-03
787028 1			85,600.00	85,465.76	Apr-23-03	7.240%	VA - 80.00%	Paid Off - 360	Jan-15-03
777298 1			267,750.00	267,246.20	May-22-03	8.365%	CA - 85.00%	Paid Off - 360	Jan-21-03
789165 1			233,750.00	233,530.99	Apr-29-03	9.750%	CA - 85.00%	Paid Off - 360	Jan-14-03
778423 1			63,000.00	62,793.16	May-02-03	6.350%	OH - 57.27%	Paid Off - 360	Jan-29-03
791145 1			153,900.00	153,677.62	Apr-02-03	7.650%	MI - 95.00%	Paid Off - 360	Jan-31-03
784169 1			82,400.00	82,205.96	May-19-03	7.250%	TX - 80.00%	Paid Off - 360	Jan-07-03
793546 1			200,000.00	199,744.04	Apr-30-03	8.250%	CA - 80.00%	Paid Off - 360	Jan-29-03
786107 1			106,400.00	106,284.89	May-31-03	10.990%	RI - 70.00%	Paid Off - 360	Jan-31-03
795018 1			200,000.00	199,644.38	Apr-01-03	6.600%	MA - 76.92%	Paid Off - 360	Jan-31-03
787089 1			100,800.00	100,615.49	May-14-03	8.500%	MI - 90.00%	Paid Off - 360	Jan-15-03
800105 1			85,000.00	84,916.05	Apr-07-03	9.500%	CA - 35.42%	Paid Off - 360	Jan-31-03
788320 1			46,000.00	45,925.11	May-14-03	9.500%	NE - 49.46%	Paid Off - 360	Jan-14-03
804273 1			169,000.00	168,874.90	Apr-25-03	10.850%	DC - 65.00%	Paid Off - 360	Jan-27-03
794805 1			178,600.00	178,262.92	May-13-03	8.350%	MI - 95.00%	Paid Off - 360	Jan-31-03
763474 2			306,500.00	305,877.64	Apr-24-03	7.990%	NM - 72.98%	Paid Off - 360	Dec-31-02
799531 1			310,000.00	309,154.68	May-19-03	6.500%	VA - 39.28%	Paid Off - 360	Jan-31-03
766463 2			500,000.00	498,868.60	Apr-10-03	7.450%	CA - 84.75%	Paid Off - 360	Dec-16-02
708238 2			297,500.00	296,756.62	May-15-03	9.500%	NJ - 85.00%	Paid Off - 360	Nov-12-02
768208 2			211,400.00	210,947.56	Apr-17-03	7.750%	CA - 70.00%	Paid Off - 360	Dec-31-02
732093 2			400,000.00	398,172.28	May-20-03	6.500%	CA - 71.81%	Paid Off - 360	Dec-18-02
785469 2			324,000.00	323,517.58	May-01-03	7.500%	IL - 90.00%	Paid Off - 360	Jan-23-03
755176 2			440,000.00	439,123.95	May-02-03	9.500%	CA - 80.00%	Paid Off - 360	Dec-20-02
789251 2			500,000.00	499,217.53	Apr-23-03	7.250%	IL - 79.37%	Paid Off - 360	Jan-09-03
766420 2			336,000.00	335,087.30	May-30-03	7.990%	IL - 79.06%	Paid Off - 360	Dec-26-02
807866 2			73,000.00	72,830.32	Apr-19-03	10.990%	CA - 20.00%	Paid Off - 240	Jan-30-03
768074 2			90,500.00	89,840.07	May-29-03	7.500%	FL - 63.29%	Paid Off - 240	Dec-30-02
777449 2			331,000.00	329,733.87	May-05-03	6.250%	IL - 79.95%	Paid Off - 360	Dec-31-02
789408 2			181,900.00	181,512.34	May-15-03	7.750%	IL - 85.00%	Paid Off - 360	Jan-28-03
792643 2			475,000.00	474,035.49	May-29-03	7.990%	NY - 95.00%	Paid Off - 360	Jan-31-03
793176 2			76,500.00	76,373.42	May-16-03	8.990%	OH - 75.00%	Paid Off - 360	Jan-30-03
795934 2			175,150.00	174,829.40	May-16-03	8.500%	NJ - 56.50%	Paid Off - 360	Jan-24-03
800682 2			220,000.00	219,705.57	May-06-03	10.000%	MA - 53.66%	Paid Off - 360	Jan-30-03
800702 2			68,000.00	67,913.71	May-19-03	10.250%	FL - 85.00%	Paid Off - 360	Jan-28-03
					Page 19 of 24				© COPYRIGHT 2003 Deutsche Bank
	MORGAN STANLEY CAPITAL I INC. 2003-NC4
	Morgan Stanley Dean Witter Capital I Inc. 2003-NC4
	Mortgage Pass-Through Certificates
	Realized Loss Report for May 27, 2003 Distribution
	Realized Loss Report for June 25, 2003 Distribution
	Realized Loss Report - Collateral
COLLATERAL REALIZED LOSSES						GROUP 2	GROUP 1	TOTAL
	Current
	Number of Loans Liquidated					-	-	-
	Collateral Realized Loss/(Gain) Amount					-	-	-
	Net Liquidation Proceeds					-	-	-
	Cumulative
	Number of Loans Liquidated					-	-	-
	Collateral Realized Loss/(Gain) Amount					-	-	-
	Net Liquidation Proceeds					-	-	-
	Note: Collateral Realized Loss Amount may include adjustments to loans liquidated in prior periods.
	Cumulative Loss Percentage							0.00%
	Group 1						3 Months Moving Average
	Group 2
Collateral Loss Severity Approximation by Groups					Collateral Loss Severity Approximation
				Page 20 of 24				© COPYRIGHT 2003 Deutsche Bank
	MORGAN STANLEY CAPITAL I INC. 2003-NC4
	Morgan Stanley Dean Witter Capital I Inc. 2003-NC4
	Mortgage Pass-Through Certificates
	Realized Loss Report for May 27, 2003 Distribution
	Realized Loss Report for June 25, 2003 Distribution
	Realized Loss Report - Collateral
DEFAULT SPEEDS						GROUP 2	GROUP 1	TOTAL
	MDR					0.00%	0.00%	0.00%
	3 Months Avg MDR
	12 Months Avg MDR
	Avg MDR Since Cut-off					0.00%	0.00%	0.00%
	CDR					0.00%	0.00%	0.00%
	3 Months Avg CDR
	12 Months Avg CDR
	Avg CDR Since Cut-off					0.00%	0.00%	0.00%
	SDA					0.00%	0.00%	0.00%
	3 Months Avg SDA Approximation
	12 Months Avg SDA Approximation
	Avg SDA Since Cut-off Approximation					0.00%	0.00%	0.00%
	Loss Severity Approximation for Current Period
	3 Months Avg Loss Severity Approximation
	12 Months Avg Loss Severity Approximation
	Avg Loss Severity Approximation Since Cut-off
	Group 1
	Group 2
CDR by Groups					Total CDR
SDA by Groups					Total SDA
				Page 21 of 24				© COPYRIGHT 2003 Deutsche Bank
	MORGAN STANLEY CAPITAL I INC. 2003-NC4
	Morgan Stanley Dean Witter Capital I Inc. 2003-NC4
	Mortgage Pass-Through Certificates
	Realized Loss Report for May 27, 2003 Distribution
	Realized Loss Report for June 25, 2003 Distribution
	Realized Loss Report - Collateral
	Group 1
	Group 2
CDR Avg since Cut-Off by Groups					Total CDR Avg since Cut-Off
SDA Avg since Cut-Off by Groups					Total SDA Avg since Cut-Off
COLLATERAL REALIZED LOSS CALCULATION METHODOLOGY
Monthly Default Rate (MDR): (Beg Principal Balance of Liquidated Loans)/(Total Beg Principal Balance)
Conditional Default Rate (CDR): 1-((1-MDR)^12)
SDA Standard Default Assumption: CDR/IF(WAS<61,MIN(30,WAS)0.02,MAX(0.03,MIN(30,WAS)0.02-0.0095*(WAS-60)))
Average MDR over period between nth month and mth month (AvgMDRn,m): [(1-MDRn) * (1-MDRn+1) .......(1-MDRm)]^(1/months in period n,m)
Average CDR over period between the nth month and mth month (AvgCDRn,m): 1-((1-AvgMDRn,m)^12)
Average SDA Approximation over period between the nth month and mth month:
AvgCDRn,m/IF(Avg WASn,m<61,MIN(30,Avg WASn,m)0.02,MAX(0.03,MIN(30,Avg WASn,m)0.02-0.0095*(Avg WASn,m-60)))
Average WASn,m: (WASn + WASn+1 +.......+ WASm )/(number of months in the period n,m)
Loss Severity Approximation for current period: sum(Realized Loss Amount)/sum(Beg Principal Balance of Liquidated Loans)
Average Loss Severity Approximation over period between nth month and mth month: Avg(Loss Severityn,m)
Note: Default rates are calculated since deal issue date and include realized gains and additional realized losses and gains from prior periods.
Dates correspond to distribution dates.
				Page 22 of 24				© COPYRIGHT 2003 Deutsche Bank
	MORGAN STANLEY CAPITAL I INC. 2003-NC4
	Morgan Stanley Dean Witter Capital I Inc. 2003-NC4
	Mortgage Pass-Through Certificates
	Realized Loss Detail Report for May 27, 2003 Distribution
	Realized Loss Detail Report for June 25, 2003 Distribution
	Realized Loss Detail Report - Loans Liquidated During Current Distribution
SUMMARY						LOAN GROUP
Total Loan Count = 0						Loan Group 1 = Group 1 Group
Total Original Principal Balance = 0.00						Loan Group 2 = Group 2 Group
Total Prior Principal Balance = 0.00
Total Realized Loss Amount = 0.00
Total Net Liquidation Proceeds = 0.00
Note: Total Realized Loss Amount may include adjustments to loans liquidated in prior periods.
Loan Number			Original	Prior		Current	State &
&		Loan	Principal	Principal	Realized	Note	LTV at	Original	Origination
Loan Group		Status	Balance	Balance	Loss/(Gain)	Rate	Origination	Term	Date
SPACE INTENTIONALLY LEFT BLANK
					Page 23 of 24				© COPYRIGHT 2003 Deutsche Bank
	MORGAN STANLEY CAPITAL I INC. 2003-NC4
	Morgan Stanley Dean Witter Capital I Inc. 2003-NC4
	Mortgage Pass-Through Certificates
	Triggers, Adj. Rate Cert. and Miscellaneous Report for May 27, 2003 Distribution
	Triggers, Adj. Rate Cert. and Miscellaneous Report for June 25, 2003 Distribution
	Triggers, Adj. Rate Cert. and Miscellaneous Report
TRIGGER EVENTS						GROUP 2	GROUP 1	TOTAL
	Has a Stepdown Date occurred?							No
	Does Trigger Event exist?							No
	1. Does (A) equal or exceed (B)?							No
	(A) 60+ Day Delinq % (quotient of (x) over (y))							0.0010%
	(x) Rolling 3-month avg. of 60+ Day Delinq. Loans							0733,351.0052
	(y) Stated Principal Balance							~~751~~745,~~425~~270,~~431~~890.2352
	(B) 40% of Sr. Enhancement Percentage							7.2025%
	2. Does (A) exceed (B)?							No
	(A) Realized Loss % (quotient of (x) over (y))							0.00%
	(x) Agg. Realized Losses to date							0.00
	(y) Cut-off Date Pool Principal Balance							756,263,897.60
	(B) Applicable Percentage							100.00%
	Senior Enhancement Percentage (Prior)							18.0012%
ADJUSTABLE RATE CERTIFICATE INFORMATION						GROUP 2	GROUP 1	TOTAL
SPACE INTENTIONALLY LEFT BLANK
ADDITIONAL INFORMATION						GROUP 2	GROUP 1	TOTAL
	Basis Risk Carry Forward Amount							0.00
				Page 24 of 24				© COPYRIGHT 2003 Deutsche Bank

Filing Compare · MORGAN STANLEY DEAN WITTER CAPITAL I INC CERT SER 2003-NC4