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~~July 25, 2003 MORGAN STANLEY DEAN WITTER 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 SERIES 2003 NC2 (Exact name of Registrant as specified in its Charter) DELAWARE (State or Other Jurisdiction of Incorporation) 333-83986-15 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 ~~June~~July 25, 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 February 1,2003. Date: ~~Jul~~Aug 0201, 2003 By: /s/ ~~David~~Katherine CoM. ~~David~~Wannenmacher CoKatherine M. Wannenmacher Vice President EXHIBIT INDEX DOCUMENT Monthly Remittance Statement to the Certificateholders dated as of ~~June~~July 25, 2003.

	Morgan Stanley Dean Witter Capital I Inc. 2003-NC2
	Mortgage Pass-Through Certificates
	June 25, 2003 Distribution
	July 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				21
			12.	Realized Loss Detail Report				24
			13.	Triggers, Adj. Rate Cert. and Miscellaneous Report				25
				Total Number of Pages				25
			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: February 1, 2003
	Certificate Insurer(s):		Financial Security Assurance Inc.					Closing Date: February 26, 2003
								First Payment Date: March 25, 2003
	Servicer(s):		Provident Bank Master Servicer
								Distribution Date: June 25, 2003
								Distribution Date: July 25, 2003
	Underwriter(s):		Utendahl Capital Partners, L.P. Lead Underwriter					Record Date: ~~June~~July 24, 2003
			Blaylock & Partners, L.P. Underwriter					~~May~~June 30, 2003
			Utendahl Capital Partners, L.P. Underwriter
						Page 1 of 25					© COPYRIGHT 2003 Deutsche Bank
	Morgan Stanley Dean Witter Capital I Inc. 2003-NC2
	Mortgage Pass-Through Certificates
	REMIC II Series 2003-NC2
	Certificate Payment Report for June 25, 2003 Distribution
	Certificate Payment Report for July 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	545,640,000.00			~~529~~519,~~619~~593,~~481~~812.6847	~~793~~681,~~546~~966.5288	10,~~025~~651,~~669~~238.2156	1011,~~819~~333,~~215~~205.7344	-	-	~~519~~508,~~593~~942,~~812~~573.4791
A-2	FLT, STEP	185,000,000.00			~~178~~176,~~943~~302,~~551~~164.3520	~~242~~204,~~170~~951.27	24,~~641~~472,~~387~~128.1404	24,~~883~~677,~~557~~079.4131	-	-	~~176~~171,~~302~~830,~~164~~036.2016
A-3	FLT, STEP	146,333,000.00			~~141~~139,~~542~~453,~~414~~105.5992	~~199~~170,~~535~~249.4900	23,~~089~~537,~~308~~404.6893	23,~~288~~707,~~844~~653.1793	-	-	~~139~~135,~~453~~915,~~105~~700.9298
M-1	MEZ, FLT	70,375,000.00			70,375,000.00	~~125~~113,~~853~~479.9669	-	~~125~~113,~~853~~479.9669	-	-	70,375,000.00
M-2	MEZ, FLT	56,840,000.00			56,840,000.00	~~152~~143,~~015~~757.4283	-	~~152~~143,~~015~~757.4283	-	-	56,840,000.00
M-3	MEZ, FLT	18,947,000.00			18,947,000.00	5250,~~962~~288.1350	-	5250,~~962~~288.1350	-	-	18,947,000.00
B-1	SUB, FLT	25,985,000.00			25,985,000.00	~~106~~103,~~127~~615.0719	-	~~106~~103,~~127~~615.0719	-	-	25,985,000.00
B-2	SUB, FLT	14,075,000.00			14,075,000.00	5756,~~484~~124.6506	-	5756,~~484~~124.6506	-	-	14,075,000.00
X	EXE	19,488,538.00			19,488,303.40	4,~~599~~705,~~239~~181.3969	-	4,~~599~~705,~~239~~181.3969	-	-	19,488,303.40
P	SUB	-			-	~~236~~410,~~767~~902.8272	-	~~236~~410,~~767~~902.8272	-	-	-
UT-R	R	-			-	-	-	-	-	-	-
Total		1,082,683,538.00			1,~~055~~041,~~815~~059,~~751~~385.0299	6,~~565~~640,~~702~~516.7283	1418,~~756~~660,~~365~~771.0353	2125,~~322~~301,~~067~~288.7536	-	-	1,~~041~~022,~~059~~398,~~385~~614.9946
	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	0506/2725/03	0607/24/03		A-Act/360	61746WB41	545,640,000.00	~~970~~952.~~639032~~264886	1.~~454341~~249848	1819.~~374146~~520634	1920.~~828487~~770481	~~952~~932.~~264886~~744252
A-2	0506/2725/03	0607/24/03		A-Act/360	61746WA67	185,000,000.00	~~967~~952.~~262440~~984671	1.~~309028~~107845	1424.~~277768~~173665	1525.~~586797~~281510	~~952~~928.~~984671~~811006
A-3	0506/2725/03	0607/24/03		A-Act/360	61746WB66	146,333,000.00	~~967~~952.~~262440~~984671	1.~~363571~~163435	1424.~~277768~~173665	1525.~~641340~~337101	~~952~~928.~~984671~~811006
M-1	0506/2725/03	0607/24/03		A-Act/360	61746WA75	70,375,000.00	1,000.000000	1.~~788333~~612500	-	1.~~788333~~612500	1,000.000000
M-2	0506/2725/03	0607/24/03		A-Act/360	61746WA83	56,840,000.00	1,000.000000	2.~~674444~~529167	-	2.~~674444~~529167	1,000.000000
M-3	0506/2725/03	0607/24/03		A-Act/360	61746WA91	18,947,000.00	1,000.000000	2.~~795278~~654167	-	2.~~795278~~654167	1,000.000000
B-1	0506/2725/03	0607/24/03		A-Act/360	61746WB25	25,985,000.00	1,000.000000	43.~~084167~~987500	-	43.~~084167~~987500	1,000.000000
B-2	0506/2725/03	0607/24/03		A-Act/360	61746WB33	14,075,000.00	1,000.000000	43.~~084167~~987500	-	43.~~084167~~987500	1,000.000000
X	0506/2725/03	0607/24/03		A-Act/360		1,102,172,076.28	~~975~~962.~~622661~~234221	4.~~172887~~269008	-	4.~~172887~~269008	~~962~~945.~~234221~~303315
P				-		-	-	-	-	-	-
UT-R				-		-	-	-	-	-	-
							Page 2 of 25				© COPYRIGHT 2003 Deutsche Bank
	Morgan Stanley Dean Witter Capital I Inc. 2003-NC2
	Mortgage Pass-Through Certificates
	REMIC II Series 2003-NC2
	Certificate Payment Report for June 25, 2003 Distribution
	Certificate Payment Report for July 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	545,640,000.00		3,~~312~~994,~~950~~917.1705		2434,~~024~~207,~~157~~662.2518	2,~~022~~489,~~030~~763.2891	2636,~~046~~697,~~187~~426.5309	2940,~~359~~692,~~137~~343.7014	-	-	~~519~~508,~~593~~942,~~812~~573.4791
A-2	185,000,000.00		1,~~012~~217,~~190~~141.3966		712,~~964~~239,~~038~~779.6369	~~733~~930,~~797~~184.1615	813,~~697~~169,~~835~~963.8084	914,~~710~~387,~~026~~105.1950	-	-	~~176~~171,~~302~~830,~~164~~036.2016
A-3	146,333,000.00		~~833~~1,~~995~~004,244.19		69,~~299~~681,~~468~~533.4641	~~580~~735,~~425~~765.6261	610,~~879~~417,~~894~~299.0802	711,~~713~~421,~~889~~543.2721	-	-	~~139~~135,~~453~~915,~~105~~700.9298
M-1	70,375,000.00		~~516~~629,~~383~~863.8958		0.00	-	-	~~516~~629,~~383~~863.8958	-	-	70,375,000.00
M-2	56,840,000.00		~~623~~767,~~745~~503.9881		-	-	-	~~623~~767,~~745~~503.9881	-	-	56,840,000.00
M-3	18,947,000.00		~~217~~267,~~313~~602.5404		-	-	-	~~217~~267,~~313~~602.5404	-	-	18,947,000.00
B-1	25,985,000.00		~~435~~539,~~467~~083.9918		-	-	-	~~435~~539,~~467~~083.9918	-	-	25,985,000.00
B-2	14,075,000.00		~~235~~291,~~875~~999.0107		-	-	-	~~235~~291,~~875~~999.0107	-	-	14,075,000.00
X	19,488,538.00		1823,~~505~~210,~~406~~588.3605		195.29	39.31	234.60	1823,~~505~~210,~~640~~822.9665	-	-	19,488,303.40
P	-		~~568~~979,~~130~~033.5224		-	-	-	~~568~~979,~~130~~033.5224	-	-	-
UT-R	-		-		-	-	-	-	-	-	-
Total	1,082,683,538.00		2632,~~261~~901,~~459~~975.0487		3856,~~287~~129,~~859~~170.6356	34,~~336~~155,~~292~~752.3898	4160,~~624~~284,~~152~~923.0154	6793,~~885~~186,~~611~~899.0541	-	-	1,~~041~~022,~~059~~398,~~385~~614.9946
	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.~~86000~~57500%	~~529~~519,~~619~~593,~~481~~812.6847			~~793~~681,~~546~~966.5288	-	-	-	~~793~~681,~~546~~966.5288	~~793~~681,~~546~~966.5288	-
A-2	1.~~68000~~39500%	~~178~~176,~~943~~302,~~551~~164.3520			~~242~~204,~~170~~951.27	-	-	-	~~242~~204,~~170~~951.27	~~242~~204,~~170~~951.27	-
A-3	1.~~75000~~46500%	~~141~~139,~~542~~453,~~414~~105.5992			~~199~~170,~~535~~249.4900	-	-	-	~~199~~170,~~535~~249.4900	~~199~~170,~~535~~249.4900	-
M-1	21.~~22000~~93500%	70,375,000.00			~~125~~113,~~853~~479.9669	-	-	-	~~125~~113,~~853~~479.9669	~~125~~113,~~853~~479.9669	-
M-2	3.~~32000~~03500%	56,840,000.00			~~152~~143,~~015~~757.4283	-	-	-	~~152~~143,~~015~~757.4283	~~152~~143,~~015~~757.4283	-
M-3	3.~~47000~~18500%	18,947,000.00			5250,~~962~~288.1350	-	-	-	5250,~~962~~288.1350	5250,~~962~~288.1350	-
B-1	54.~~07000~~78500%	25,985,000.00			~~106~~103,~~127~~615.0719	-	-	-	~~106~~103,~~127~~615.0719	~~106~~103,~~127~~615.0719	-
B-2	54.~~07000~~78500%	14,075,000.00			5756,~~484~~124.6506	-	-	-	5756,~~484~~124.6506	5756,~~484~~124.6506	-
X	5.~~40757~~43224%	1,~~075~~060,~~304~~547,~~054~~689.4339			4,~~599~~705,~~239~~181.3969	-	-	-	4,~~599~~705,~~239~~181.3969	4,~~599~~705,~~239~~181.3969	-
P		-			~~236~~410,~~767~~902.8272	-	-	-	~~236~~410,~~767~~902.8272	~~236~~410,~~767~~902.8272	-
UT-R		-			-	-	-	-	-	-	-
Total		2,~~111~~082,~~631~~118,~~502~~771.0598			6,~~565~~640,~~702~~516.7283	-	-	-	6,~~565~~640,~~702~~516.7283	6,~~565~~640,~~702~~516.7283	-
							Page 3 of 25				© COPYRIGHT 2003 Deutsche Bank
	Morgan Stanley Dean Witter Capital I Inc. 2003-NC2
	Mortgage Pass-Through Certificates
	Collection Account Report for June 25, 2003 Distribution
	Collection Account Report for July 25, 2003 Distribution
	Collection Account Report
SUMMARY						GROUP 2	GROUP 1	TOTAL
	Principal Collections					48,~~730~~006,~~695~~290.8238	10,~~025~~646,~~669~~926.2149	1418,~~756~~653,~~365~~216.0387
	Principal Other Accounts					0.00	0.00	0.00
	TOTAL NET PRINCIPAL					48,~~730~~006,~~695~~290.8238	10,~~025~~646,~~669~~926.2149	1418,~~756~~653,~~365~~216.0387
	Interest Collections					2,~~473~~447,~~262~~558.1974	3,~~917~~864,~~954~~507.4370	6,~~391~~312,~~216~~066.6244
	Interest Withdrawals					0.00	0.00	0.00
	Interest Other Accounts					0.00	0.00	0.00
	Interest Fees					(3136,~~071~~803.2716)	(3138,~~210~~094.4551)	(6274,~~281~~897.7267)
	TOTAL NET INTEREST					2,~~442~~410,~~190~~755.9258	3,~~886~~826,~~743~~413.9819	6,~~328~~237,~~934~~168.9077
	TOTAL PRINCIPAL & INTEREST DISTRIBUTABLE					710,~~172~~417,~~886~~045.7496	1314,~~912~~473,~~413~~339.1968	2124,~~085~~890,~~299~~385.9364
	Prepayment Penalties Collected							~~236~~410,~~767~~902.8272
	TOTAL AVAILABLE FUNDS FOR DISTRIBUTION							2125,~~322~~301,~~067~~288.7536
PRINCIPAL - COLLECTIONS						GROUP 2	GROUP 1	TOTAL
	Scheduled Principal Received					~~318~~315,~~228~~223.7935	~~508~~504,~~534~~237.7225	~~826~~819,~~763~~460.5160
	Prepayments In Full					47,~~363~~646,~~573~~812.7822	910,~~321~~078,~~725~~839.5299	1317,~~685~~725,~~299~~652.3021
	Curtailments					4844,~~893~~254.2581	~~195~~63,~~408~~954.9757	~~244~~108,~~302~~209.2238
	Liquidations					0.00	07,449.0033	07,449.0033
	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(7,554.0065)	0(7,554.0065)
	Delinquent Principal					(~~282~~270,~~068~~107.7253)	(~~459~~443,~~058~~746.0109)	(~~741~~713,~~126~~853.7362)
	Advanced Principal					~~282~~270,~~068~~107.7253	~~459~~443,~~058~~746.0109	~~741~~713,~~126~~853.7362
	TOTAL PRINCIPAL COLLECTED					48,~~730~~006,~~695~~290.8238	10,~~025~~646,~~669~~926.2149	1418,~~756~~653,~~365~~216.0387
				Page 4 of 25				© COPYRIGHT 2003 Deutsche Bank
	Morgan Stanley Dean Witter Capital I Inc. 2003-NC2
	Mortgage Pass-Through Certificates
	Collection Account Report for June 25, 2003 Distribution
	Collection Account Report for July 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					2,~~620~~586,~~041~~463.7850	4,~~163~~098,~~214~~615.0251	6,~~783~~685,~~255~~079.8001
	Liquidation Interest					0.00	052.0077	052.0077
	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					(2,~~318~~199,~~413~~201.8198)	(3,~~731~~565,~~638~~880.7192)	(65,~~050~~765,~~052~~082.5290)
	Interest Advanced					2,~~171~~060,~~634~~297.22	3,~~486~~331,~~379~~720.1234	5,~~658~~392,~~013~~017.3456
	TOTAL INTEREST COLLECTED					2,~~473~~447,~~262~~558.1974	3,~~917~~864,~~954~~507.4370	6,~~391~~312,~~216~~066.6244
				Page 5 of 25				© COPYRIGHT 2003 Deutsche Bank
	Morgan Stanley Dean Witter Capital I Inc. 2003-NC2
	Mortgage Pass-Through Certificates
	Collection Account Report for June 25, 2003 Distribution
	Collection Account Report for July 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					1925,~~139~~043.6334	2835,~~744~~666.4107	4760,~~884~~709.0441
	Class A-2 Certificate Insurance Premium					10,~~438~~284.3729		10,~~438~~284.3729
	Trustee Fees					1,~~493~~475.2753	2,~~466~~428.0444	3,~~959~~903.3197
	TOTAL INTEREST OTHER FEES					3136,~~071~~803.2716	3138,~~210~~094.4551	6274,~~281~~897.7267
				Page 6 of 25				© COPYRIGHT 2003 Deutsche Bank
	Morgan Stanley Dean Witter Capital I Inc. 2003-NC2
	Mortgage Pass-Through Certificates
	Credit Enhancement Report for June 25, 2003 Distribution
	Credit Enhancement Report for July 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							19,~~488~~480,~~303~~749.6903
	Ending Subordinated Amount							19,488,303.69
	Specified Subordinated Amount							19,488,303.69
	Senior Enhancement Percentage							1920.7612%
				Page 7 of 25				© COPYRIGHT 2003 Deutsche Bank
	Morgan Stanley Dean Witter Capital I Inc. 2003-NC2
	Mortgage Pass-Through Certificates
	Collateral Report for June 25, 2003 Distribution
	Collateral Report for July 25, 2003 Distribution
	Collateral Report
COLLATERAL						GROUP 2	GROUP 1	TOTAL
	Loan Count:
	Original					2260	4383	6643
	Prior					2,~~224~~200	4,~~306~~252	6,~~530~~452
	Prefunding					-	-	-
	Scheduled Paid Offs					-	-	-
	Full Voluntary Prepayments					(2433)	(5460)	(7893)
	Repurchases					-	-	-
	Liquidations					-	-(1)	-(1)
	Current					2,~~200~~167	4,~~252~~191	6,~~452~~358
	Principal Balance:
	Original					409,051,965.91	673,628,798.21	1,082,680,764.12
	Prior					~~398~~393,~~206~~475,~~139~~443.1634	~~657~~647,~~609~~583,~~612~~942.1594	1,~~055~~041,~~815~~059,~~751~~386.3128
	Prefunding					-	-	-
	Scheduled Principal					(~~318~~315,~~228~~223.7935)	(~~508~~504,~~534~~237.7225)	(~~826~~819,~~763~~460.5160)
	Partial and Full Voluntary Prepayments					(47,~~412~~691,~~467~~067.03)	(910,~~517~~142,~~134~~794.4956)	(1317,~~929~~833,~~601~~861.5259)
	Repurchases					-	-	-
	Liquidations					-	-(7,449.33)	-(7,449.33)
	Current					~~393~~385,~~475~~469,~~443~~152.3496	~~647~~636,~~583~~929,~~942~~461.9479	1,~~041~~022,~~059~~398,~~386~~614.2875
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 25				© COPYRIGHT 2003 Deutsche Bank
	Morgan Stanley Dean Witter Capital I Inc. 2003-NC2
	Mortgage Pass-Through Certificates
	Collateral Report for June 25, 2003 Distribution
	Collateral Report for July 25, 2003 Distribution
	Collateral Report
CHARACTERISTICS						GROUP 2	GROUP 1	TOTAL
	Weighted Average Coupon Original					7.897319%	7.600449%	7.712610%
	Weighted Average Coupon Prior					7.~~901514~~895534%	7.~~596549~~596995%	7.~~711587~~709590%
	Weighted Average Coupon Current					7.~~895534~~888056%	7.~~596995~~595003%	7.~~709590~~705764%
	Weighted Average Months to Maturity Original					344	354	350
	Weighted Average Months to Maturity Prior					~~341~~340	~~352~~351	~~348~~347
	Weighted Average Months to Maturity Current					~~340~~339	~~351~~349	~~347~~345
	Weighted Avg Remaining Amortization Term Original					343	353	349
	Weighted Avg Remaining Amortization Term Prior					~~341~~340	~~351~~350	~~347~~346
	Weighted Avg Remaining Amortization Term Current					~~340~~339	~~350~~349	~~346~~345
	Weighted Average Seasoning Original					3.40	3.34	3.36
	Weighted Average Seasoning Prior					56.39	56.34	56.36
	Weighted Average Seasoning Current					67.39	67.3433	67.3635
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 25				© COPYRIGHT 2003 Deutsche Bank
	Morgan Stanley Dean Witter Capital I Inc. 2003-NC2
	Mortgage Pass-Through Certificates
	Collateral Report for June 25, 2003 Distribution
	Collateral Report for July 25, 2003 Distribution
	Collateral Report
ARM CHARACTERISTICS						GROUP 2	GROUP 1	TOTAL
	Weighted Average Margin Original					3.419%	5.495%
	Weighted Average Margin Prior					3.~~392~~380%	5.~~490~~487%
	Weighted Average Margin Current					3.~~380~~381%	5.~~487~~483%
	Weighted Average Max Rate Original					8.155%	12.463%
	Weighted Average Max Rate Prior					8.~~086~~054%	12.~~449~~435%
	Weighted Average Max Rate Current					8.~~054~~053%	12.~~435~~417%
	Weighted Average Min Rate Original					4.222%	6.471%
	Weighted Average Min Rate Prior					4.~~190~~170%	6.~~462~~457%
	Weighted Average Min Rate Current					4.~~170~~165%	6.~~457~~449%
	Weighted Average Cap Up Original					0.884%	1.299%
	Weighted Average Cap Up Prior					0.~~876~~873%	1.~~298~~296%
	Weighted Average Cap Up Current					0.~~873~~874%	1.~~296~~294%
	Weighted Average Cap Down Original					0.884%	1.299%
	Weighted Average Cap Down Prior					0.~~876~~873%	1.~~298~~296%
	Weighted Average Cap Down Current					0.~~873~~874%	1.~~296~~294%
Note: Original information refers to deal issue.
SERVICING FEES / ADVANCES						GROUP 2	GROUP 1	TOTAL
	Current Servicing Fees					1925,~~139~~043.6334	2835,~~744~~666.4107	4760,~~884~~709.0441
	Delinquent Servicing Fees					~~146~~138,~~779~~904.5976	~~245~~234,~~259~~160.5957	~~392~~373,~~039~~065.1833
	TOTAL SERVICING FEES					~~165~~163,~~919~~948.2210	~~274~~269,~~004~~826.0064	~~439~~433,~~923~~774.2274
	Prepayment Interest Shortfall					1325,~~973~~667.3716	2531,~~795~~154.3950	3956,~~768~~821.7666
	Compensating Interest					(1325,~~973~~667.3716)	(2531,~~795~~154.3950)	(3956,~~768~~821.7666)
	Delinquent Servicing Fees					(~~146~~138,~~779~~904.5976)	(~~245~~234,~~259~~160.5957)	(~~392~~373,~~039~~065.1833)
	COLLECTED SERVICING FEES					1925,~~139~~043.6334	2835,~~744~~666.4107	4760,~~884~~709.0441
	Aggregate Advances with respect to this Distribution					2,~~453~~330,~~702~~404.9475	3,~~945~~775,~~437~~466.1343	6,~~399~~105,~~140~~871.0718
	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							4,~~599~~712,~~239~~736.3935
	Ending Pool Stated Principal Balance					~~393~~385,~~475~~469,~~443~~152.3496	~~647~~636,~~583~~929,~~942~~461.9479	1,~~041~~022,~~059~~398,~~386~~614.2875
				Page 10 of 25				© COPYRIGHT 2003 Deutsche Bank
	Morgan Stanley Dean Witter Capital I Inc. 2003-NC2
	Mortgage Pass-Through Certificates
	Delinquency Report for June 25, 2003 Distribution
	Delinquency Report for July 25, 2003 Distribution
	Delinquency Report - Total
				<1 PAYMENT	1 PAYMENT	2 PAYMENTS	3+ PAYMENTS	TOTAL
DELINQUENT		Balance			1319,~~570~~604,~~084~~598.0787	59,~~172~~563,~~788~~199.8751	14,~~134~~589,~~155~~319.8469	1933,~~877~~757,~~028~~118.7807
		% Balance			1.3092%	0.5094%	0.1145%	13.9130%
		# Loans			90132	2860	1233	~~130~~225
		% # Loans			12.3908%	0.4394%	0.1952%	23.0154%
FORECLOSURE		Balance		~~101~~682,~~294~~362.1441	~~96,383.38~~-	4796,~~224~~312.4937	43,~~532~~248,~~377~~592.8238	4,~~777~~027,~~279~~267.8316
		% Balance		0.0107%	0.0100%	0.0001%	0.4432%	0.4639%
		# Loans		12	1-	1	3127	3430
		% # Loans		0.0203%	0.0200%	0.02%	0.4842%	0.5347%
BANKRUPTCY		Balance		13,~~853~~471,~~506~~320.4001	~~271,276.32~~-	-340,009.04	~~299~~643,~~220~~296.9407	24,~~424~~454,~~003~~625.6612
		% Balance		0.1834%	0.0300%	0.0003%	0.0306%	0.2344%
		# Loans		1325	2-	-3	3	1831
		% # Loans		0.2039%	0.0300%	0.0005%	0.05%	0.2849%
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		14,~~954~~153,~~800~~682.5442	1319,~~937~~604,~~743~~598.7787	59,~~220~~999,~~013~~520.3692	58,~~965~~481,~~754~~208.6014	2742,~~078~~239,~~312~~010.2735
		% Balance		0.1941%	1.3492%	0.5098%	0.5783%	24.6013%
		# Loans		1427	93132	2964	4663	~~182~~286
		% # Loans		0.2242%	12.4408%	01.4501%	0.7199%	24.8250%
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 25				© COPYRIGHT 2003 Deutsche Bank
	Morgan Stanley Dean Witter Capital I Inc. 2003-NC2
	Mortgage Pass-Through Certificates
	Delinquency Report for June 25, 2003 Distribution
	Delinquency Report for July 25, 2003 Distribution
	Delinquency Report - Group 1 Group
				<1 PAYMENT	1 PAYMENT	2 PAYMENTS	3+ PAYMENTS	TOTAL
DELINQUENT		Balance			712,~~517~~399,~~312~~058.2668	14,~~878~~652,~~134~~778.7910	~~928~~2,~~318~~967,053.1672	1020,~~323~~018,~~765~~890.2150
		% Balance			1.1695%	0.2973%	0.1447%	13.5914%
		# Loans			5287	1232	820	72139
		% # Loans			12.2208%	0.2876%	0.1948%	13.6932%
FORECLOSURE		Balance		-	~~96,383.38~~-	-96,312.37	2,~~209~~113,~~936~~587.8811	2,~~306~~209,~~320~~899.2648
		% Balance		0.00%	0.0100%	0.0002%	0.3433%	0.3635%
		# Loans		-	1-	-1	1615	1716
		% # Loans		0.00%	0.0200%	0.0002%	0.3836%	0.4038%
BANKRUPTCY		Balance		12,~~051~~186,~~897~~720.0755	~~271,276.32~~-	-340,009.04	~~212~~334,~~681~~680.4946	12,~~535~~861,~~854~~410.8805
		% Balance		0.1634%	0.0400%	0.0005%	0.0305%	0.2445%
		# Loans		816	2-	-3	2	1221
		% # Loans		0.1938%	0.0500%	0.0007%	0.05%	0.2850%
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		12,~~051~~186,~~897~~720.0755	712,~~884~~399,~~971~~058.9668	15,~~878~~089,~~134~~099.7951	35,~~350~~415,~~936~~321.5329	1425,~~165~~090,~~940~~200.3503
		% Balance		0.1634%	1.2295%	0.2980%	0.5285%	23.1994%
		# Loans		816	5587	1236	2637	~~101~~176
		% # Loans		0.1938%	12.2908%	0.2886%	0.6188%	24.3820%
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 25				© COPYRIGHT 2003 Deutsche Bank
	Morgan Stanley Dean Witter Capital I Inc. 2003-NC2
	Mortgage Pass-Through Certificates
	Delinquency Report for June 25, 2003 Distribution
	Delinquency Report for July 25, 2003 Distribution
	Delinquency Report - Group 2 Group
				<1 PAYMENT	1 PAYMENT	2 PAYMENTS	3+ PAYMENTS	TOTAL
DELINQUENT		Balance			67,~~052~~205,~~771~~540.8119	34,~~294~~910,~~654~~421.0841	~~205~~1,~~837~~622,265.6897	913,~~553~~738,~~263~~227.57
		% Balance			1.5487%	01.8427%	0.0542%	23.4356%
		# Loans			3845	1628	413	5886
		% # Loans			12.7308%	01.7329%	0.1860%	23.6497%
FORECLOSURE		Balance		~~101~~682,~~294~~362.1441	-	~~47,224.49~~-	21,~~322~~135,~~440~~005.9427	21,~~470~~817,~~959~~367.5768
		% Balance		0.0318%	0.00%	0.0100%	0.5929%	0.6347%
		# Loans		12	-	1-	1512	1714
		% # Loans		0.0509%	0.00%	0.0500%	0.6855%	0.7765%
BANKRUPTCY		Balance		~~801~~1,~~609~~284,599.3346	-	-	86308,~~539~~615.4561	~~888~~1,~~148~~593,215.7807
		% Balance		0.2033%	0.00%	0.00%	0.0208%	0.2341%
		# Loans		59	-	-	1	610
		% # Loans		0.2342%	0.00%	0.00%	0.05%	0.2746%
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		~~902~~1,~~903~~966,961.4787	67,~~052~~205,~~771~~540.8119	34,~~341~~910,~~878~~421.5741	23,~~614~~065,~~818~~886.0785	1217,~~912~~148,~~371~~810.9232
		% Balance		0.2351%	1.5487%	01.8527%	0.6680%	34.2845%
		# Loans		611	3845	1728	2026	81110
		% # Loans		0.2751%	12.7308%	01.7729%	01.9120%	35.6808%
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 25				© COPYRIGHT 2003 Deutsche Bank
	Morgan Stanley Dean Witter Capital I Inc. 2003-NC2
	Mortgage Pass-Through Certificates
	REO Report for June 25, 2003 Distribution
	REO Report for July 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 25				© COPYRIGHT 2003 Deutsche Bank
	Morgan Stanley Dean Witter Capital I Inc. 2003-NC2
	Mortgage Pass-Through Certificates
	Foreclosure Report for June 25, 2003 Distribution
	Foreclosure Report for July 25, 2003 Distribution
	Foreclosure Report - Mortgage Loans that Become Foreclosure During Current Distribution
SUMMARY				LOAN GROUP
Total Loan Count = 33				Loan Group 1 = Group 1 Group
Total Loan Count = 1				Loan Group 1 = Group 1 Group
Total Original Principal Balance = 4,669,800.00				Loan Group 2 = Group 2 Group
Total Original Principal Balance = 87,000.00				Loan Group 2 = Group 2 Group
Total Current Balance = 4,650,230.34
Total Current Balance = 86,472.00
Loan Number		Original	Stated		Current	State &
&		Principal	Principal	Paid to	Note	LTV at	Original	Origination
Loan Group		Balance	Balance	Date	Rate	Origination	Term	Date
721002 1		323,000.00	321,898.88	Jan-01-03	8.900%	NY - 85.00%	360	Nov-26-02
706534 2		87,000.00	86,472.00	Jan-01-03	7.500%	CA - 75.00%	360	Oct-31-02
721846 1		72,000.00	71,349.15	Dec-01-02	10.350%	TX - 75.00%	240	Oct-30-02
729896 1		138,600.00	138,112.72	Dec-01-02	8.750%	CO - 74.92%	360	Nov-12-02
734030 1		156,000.00	155,324.21	Jan-01-03	8.500%	CA - 80.00%	360	Nov-07-02
734383 1		95,200.00	94,881.40	Jan-01-03	8.990%	MI - 85.00%	360	Nov-08-02
735618 1		93,750.00	93,366.19	Dec-01-02	8.000%	CO - 75.00%	360	Nov-27-02
736648 1		246,000.00	245,176.75	Dec-01-02	8.990%	CA - 84.83%	360	Nov-12-02
738974 1		50,000.00	49,635.57	Jan-01-03	10.790%	CA - 78.13%	240	Nov-27-02
739884 1		37,000.00	36,737.24	Jan-01-03	10.990%	FL - 20.00%	240	Nov-20-02
744558 1		80,000.00	79,788.37	Dec-01-02	9.250%	FL - 72.07%	360	Nov-29-02
744750 1		320,000.00	318,816.03	Jan-01-03	8.500%	FL - 80.00%	360	Nov-26-02
744891 1		45,500.00	45,132.41	Jan-01-03	9.990%	TX - 70.00%	240	Nov-20-02
745467 1		153,000.00	152,306.55	Dec-01-02	7.490%	IL - 90.00%	360	Nov-25-02
755235 1		100,000.00	99,682.87	Jan-01-03	9.250%	NV - 80.00%	360	Nov-26-02
756049 1		181,500.00	180,679.04	Jan-01-03	7.500%	CO - 89.85%	360	Nov-27-02
758020 1		96,800.00	96,383.38	Mar-01-03	7.750%	NC - 80.00%	360	Nov-27-02
717895 2		44,200.00	44,086.36	Jan-01-03	10.250%	DE - 65.00%	360	Nov-04-02
722250 2		54,750.00	53,882.28	Jan-01-03	9.250%	AZ - 75.00%	180	Nov-26-02
723385 2		310,500.00	308,856.33	Dec-01-02	7.500%	CA - 90.00%	360	Oct-18-02
723587 2		255,000.00	254,453.38	Jan-01-03	11.100%	TX - 78.95%	360	Nov-29-02
727768 2		499,000.00	496,504.91	Jan-01-03	6.990%	FL - 64.81%	360	Nov-21-02
730557 2		113,750.00	113,414.61	Dec-01-02	10.350%	IL - 65.00%	360	Nov-12-02
732940 2		61,200.00	60,964.61	Jan-01-03	8.750%	FL - 85.00%	360	Nov-07-02
734104 2		187,000.00	186,374.20	Jan-01-03	9.750%	CA - 85.00%	360	Nov-08-02
734171 2		48,000.00	47,224.49	Feb-01-03	9.000%	TX - 80.00%	180	Nov-20-02
735686 2		101,600.00	101,294.14	Apr-01-03	9.500%	TX - 80.00%	360	Nov-12-02
736716 2		116,800.00	116,582.74	Jan-01-03	11.750%	TX - 80.00%	360	Nov-26-02
736793 2		135,150.00	134,743.13	Dec-01-02	9.500%	NC - 85.00%	360	Nov-12-02
737164 2		61,200.00	60,971.25	Dec-01-02	8.450%	SC - 90.00%	360	Nov-26-02
737529 2		92,250.00	91,972.28	Jan-01-03	9.500%	CT - 68.33%	360	Nov-12-02
740666 2		88,000.00	87,643.32	Dec-01-02	8.050%	TX - 80.00%	360	Nov-20-02
744100 2		118,400.00	118,061.75	Dec-01-02	9.750%	CO - 80.00%	360	Nov-27-02
747920 2		194,650.00	193,929.78	Jan-01-03	8.500%	NJ - 85.00%	360	Nov-13-02
				Page 15 of 25				© COPYRIGHT 2003 Deutsche Bank
	Morgan Stanley Dean Witter Capital I Inc. 2003-NC2
	Mortgage Pass-Through Certificates
	Prepayment Report for June 25, 2003 Distribution
	Prepayment Report for July 25, 2003 Distribution
	Prepayment Report - Voluntary Prepayments
VOLUNTARY PREPAYMENTS						GROUP 2	GROUP 1	TOTAL
	Current
	Number of Paid in Full Loans					2433	5460	7893
	Number of Repurchased Loans					-	-	-
	Total Number of Loans Prepaid in Full					2433	5460	7893
	Paid in Full Balance					47,~~363~~646,~~573~~812.7822	910,~~321~~078,~~725~~839.5299	1317,~~685~~725,~~299~~652.3021
	Repurchased Loans Balance					-	-	-
	Curtailments Amount					4844,~~893~~254.2581	~~195~~63,~~408~~954.9757	~~244~~108,~~302~~209.2238
	Total Prepayment Amount					47,~~412~~691,~~467~~067.03	910,~~517~~142,~~134~~794.4956	1317,~~929~~833,~~601~~861.5259
	Cumulative
	Number of Paid in Full Loans					6093	~~131~~191	~~191~~284
	Number of Repurchased Loans					-	-	-
	Total Number of Loans Prepaid in Full					6093	~~131~~191	~~191~~284
	Paid in Full Balance					1421,~~135~~782,~~744~~557.7800	2333,~~641~~720,~~943~~783.8382	3755,~~777~~503,~~688~~340.6182
	Repurchased Loans Balance					-	-	-
	Curtailments Amount					~~149~~193,~~494~~749.6041	~~357~~421,~~902~~856.2582	~~507~~615,~~396~~606.8523
	Total Prepayment Amount					1421,~~285~~976,~~239~~306.3841	2334,~~999~~142,~~846~~640.0864	3856,~~285~~118,~~085~~947.4605
SPACE INTENTIONALLY LEFT BLANK
Total Prepayments by Groups (in thousands of dollars)					Total Prepayments (in thousands of dollars)
				Page 16 of 25				© COPYRIGHT 2003 Deutsche Bank
	Morgan Stanley Dean Witter Capital I Inc. 2003-NC2
	Mortgage Pass-Through Certificates
	Prepayment Report for June 25, 2003 Distribution
	Prepayment Report for July 25, 2003 Distribution
	Prepayment Report - Voluntary Prepayments
VOLUNTARY PREPAYMENT RATES						GROUP 2	GROUP 1	TOTAL
	SMM					1.1196%	1.4557%	1.3271%
	3 Months Avg SMM					1.0141%	1.1038%	1.0739%
	12 Months Avg SMM
	Avg SMM Since Cut-off					01.8910%	01.9004%	01.9006%
	CPR					1221.5311%	1617.0627%	1418.74%
	3 Months Avg CPR					1115.4963%	1215.4438%	1215.0847%
	12 Months Avg CPR
	Avg CPR Since Cut-off					1012.1445%	1011.3477%	1012.2602%
	PSA					~~980~~1428.2055%	~~1267~~1177.0233%	~~1159~~1274.5305%
	3 Months Avg PSA Approximation					~~1065~~1223.9831%	~~1164~~1213.7320%	~~1127~~1217.3304%
	12 Months Avg PSA Approximation
	Avg PSA Since Cut-off Approximation					~~1035~~1154.8821%	~~1067~~1102.8817%	~~1055~~1121.7299%
	Group 1
	Group 2
CPR by Groups					Total CPR
PSA by Groups					Total PSA
				Page 17 of 25				© COPYRIGHT 2003 Deutsche Bank
	Morgan Stanley Dean Witter Capital I Inc. 2003-NC2
	Mortgage Pass-Through Certificates
	Prepayment Report for June 25, 2003 Distribution
	Prepayment Report for July 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 25				© COPYRIGHT 2003 Deutsche Bank
	Morgan Stanley Dean Witter Capital I Inc. 2003-NC2
	Mortgage Pass-Through Certificates
	Prepayment Detail Report for June 25, 2003 Distribution
	Prepayment Detail Report for July 25, 2003 Distribution
	Prepayment Detail Report - Loans Prepaid in Full During Current Distribution
SUMMARY						LOAN GROUP
Total Loan Count = 78						Loan Group 1 = Group 1 Group
Total Loan Count = 93						Loan Group 1 = Group 1 Group
Total Original Principal Balance = 13,736,210.00						Loan Group 2 = Group 2 Group
Total Original Principal Balance = 17,816,712.00						Loan Group 2 = Group 2 Group
Total Prepayment Amount = 13,685,299.30
Total Prepayment Amount = 17,725,652.21
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
664391 1			66,750.00	66,623.88	May-30-03	9.750%	IL - 75.00%	Paid Off - 360	Dec-19-02
625972 1			299,000.00	297,007.30	Jun-23-03	8.700%	MI - 65.00%	Paid Off - 360	Jul-10-02
711923 1			240,000.00	239,988.70	May-02-03	5.320%	CA - 80.00%	Paid Off - 300	Oct-02-02
648056 1			223,100.00	221,980.68	Jun-13-03	6.990%	CA - 79.99%	Paid Off - 360	Nov-13-02
720701 1			110,000.00	109,706.78	May-14-03	9.190%	TX - 80.00%	Paid Off - 360	Nov-06-02
657382 1			144,500.00	143,919.77	Jun-30-03	8.250%	CA - 85.00%	Paid Off - 360	Nov-07-02
722828 1			322,000.00	320,377.23	May-23-03	6.950%	CA - 68.51%	Paid Off - 360	Oct-24-02
696625 1			63,250.00	63,065.37	Jun-02-03	8.750%	RI - 55.00%	Paid Off - 360	Dec-20-02
723628 1			177,300.00	176,642.68	May-02-03	8.490%	IL - 90.00%	Paid Off - 360	Nov-06-02
704572 1			127,500.00	126,946.04	Jul-01-03	9.240%	NV - 85.00%	Paid Off - 360	Sep-30-02
724275 1			112,000.00	111,585.58	May-21-03	8.500%	AZ - 80.00%	Paid Off - 360	Nov-05-02
715473 1			259,250.00	258,188.70	Jun-04-03	8.000%	CA - 85.00%	Paid Off - 360	Nov-07-02
725235 1			59,250.00	58,981.47	May-30-03	7.490%	FL - 75.00%	Paid Off - 360	Oct-25-02
716231 1			254,700.00	252,721.15	Jun-09-03	6.950%	CA - 62.93%	Paid Off - 360	Oct-18-02
726551 1			76,000.00	75,773.52	May-21-03	8.650%	MI - 76.00%	Paid Off - 360	Nov-27-02
717024 1			218,571.00	217,478.05	Jun-09-03	6.990%	CA - 95.00%	Paid Off - 360	Nov-27-02
726743 1			297,500.00	296,556.60	May-21-03	9.250%	NY - 85.00%	Paid Off - 360	Oct-31-02
717118 1			168,300.00	167,607.16	Jun-17-03	8.750%	CA - 85.00%	Paid Off - 360	Nov-01-02
726900 1			212,500.00	211,773.72	May-15-03	8.890%	IL - 85.00%	Paid Off - 360	Oct-28-02
721236 1			77,000.00	76,549.49	Jun-16-03	6.990%	CA - 43.50%	Paid Off - 360	Oct-25-02
728130 1			134,000.00	133,438.85	May-27-03	6.950%	CA - 67.00%	Paid Off - 360	Nov-13-02
721892 1			300,000.00	298,248.21	Jun-20-03	7.000%	CA - 63.03%	Paid Off - 360	Oct-22-02
728542 1			270,000.00	268,883.54	May-19-03	7.950%	CA - 88.52%	Paid Off - 360	Oct-31-02
722283 1			45,500.00	45,376.51	Jun-09-03	10.740%	KS - 65.00%	Paid Off - 360	Nov-04-02
728715 1			159,000.00	158,381.09	May-28-03	8.250%	MA - 60.00%	Paid Off - 360	Oct-30-02
723511 1			136,000.00	135,217.56	Jun-11-03	7.140%	MI - 76.40%	Paid Off - 360	Oct-24-02
728723 1			40,000.00	39,919.10	May-02-03	10.500%	ME - 57.22%	Paid Off - 360	Nov-19-02
723929 1			285,000.00	283,941.50	Jun-06-03	9.250%	CA - 71.25%	Paid Off - 360	Nov-06-02
730292 1			256,000.00	254,949.89	May-02-03	7.990%	CA - 79.01%	Paid Off - 360	Oct-30-02
724155 1			120,000.00	119,268.90	Jun-24-03	6.950%	CA - 72.73%	Paid Off - 360	Oct-28-02
730493 1			159,800.00	159,265.24	May-30-03	8.990%	CA - 85.00%	Paid Off - 360	Oct-29-02
725930 1			92,000.00	91,659.55	Jun-25-03	8.500%	CO - 52.57%	Paid Off - 360	Nov-08-02
730643 1			295,800.00	295,800.00	May-13-03	5.320%	CO - 85.00%	Paid Off - 300	Oct-25-02
726205 1			93,100.00	92,788.41	Jun-10-03	8.990%	CT - 70.00%	Paid Off - 360	Nov-08-02
732285 1			390,000.00	388,249.86	May-22-03	7.750%	CA - 84.78%	Paid Off - 360	Oct-31-02
726864 1			230,000.00	228,373.61	Jun-13-03	6.500%	CA - 69.70%	Paid Off - 360	Oct-31-02
732542 1			112,500.00	112,014.85	May-22-03	7.740%	CA - 90.00%	Paid Off - 360	Oct-29-02
727625 1			217,500.00	216,455.62	Jun-12-03	7.990%	CA - 75.00%	Paid Off - 360	Oct-28-02
732632 1			209,500.00	208,815.88	May-30-03	8.200%	MD - 87.29%	Paid Off - 360	Nov-05-02
727858 1			216,000.00	214,610.70	Jun-30-03	6.500%	CA - 90.00%	Paid Off - 360	Oct-31-02
733063 1			210,000.00	209,297.25	May-19-03	8.990%	CA - 75.00%	Paid Off - 360	Nov-05-02
728377 1			224,000.00	222,814.20	Jun-19-03	7.500%	CA - 80.00%	Paid Off - 360	Oct-31-02
733497 1			282,000.00	280,286.66	May-20-03	6.250%	CA - 43.05%	Paid Off - 360	Oct-31-02
728911 1			165,600.00	164,663.67	Jun-09-03	7.490%	CA - 80.00%	Paid Off - 360	Nov-05-02
735389 1			175,000.00	174,308.10	May-12-03	7.250%	CA - 51.47%	Paid Off - 360	Nov-14-02
729230 1			205,200.00	204,110.36	Jun-30-03	8.250%	CA - 90.00%	Paid Off - 360	Oct-30-02
735453 1			95,000.00	94,570.91	May-12-03	6.750%	WA - 42.04%	Paid Off - 360	Nov-27-02
730054 1			60,000.00	59,703.90	Jun-17-03	8.250%	FL - 60.00%	Paid Off - 360	Oct-31-02
735629 1			180,000.00	179,252.14	May-07-03	6.990%	PA - 80.00%	Paid Off - 360	Nov-26-02
730333 1			195,300.00	194,408.19	Jun-04-03	8.240%	CA - 62.00%	Paid Off - 360	Oct-29-02
736222 1			216,300.00	215,600.81	May-22-03	8.250%	CA - 77.25%	Paid Off - 360	Nov-27-02
730987 1			65,000.00	64,665.30	Jun-10-03	7.640%	FL - 69.15%	Paid Off - 360	Oct-30-02
738216 1			200,000.00	199,353.47	May-30-03	8.250%	MA - 67.80%	Paid Off - 360	Nov-20-02
731319 1			98,000.00	97,655.45	Jun-26-03	8.750%	IL - 70.00%	Paid Off - 360	Nov-12-02
738693 1			140,000.00	139,514.34	May-02-03	7.900%	MA - 80.00%	Paid Off - 360	Nov-18-02
731588 1			296,000.00	294,268.20	Jun-27-03	6.990%	CA - 80.00%	Paid Off - 360	Oct-31-02
741886 1			202,000.00	201,379.39	May-05-03	8.500%	CA - 79.22%	Paid Off - 360	Nov-13-02
731694 1			78,000.00	77,520.95	Jun-30-03	6.740%	CA - 58.21%	Paid Off - 360	Oct-30-02
742021 1			60,000.00	59,781.17	May-13-03	7.650%	IL - 37.27%	Paid Off - 360	Nov-22-02
731931 1			123,920.00	123,262.72	Jun-11-03	7.490%	MN - 80.00%	Paid Off - 360	Oct-31-02
742201 1			79,000.00	78,688.11	May-13-03	7.250%	MA - 43.89%	Paid Off - 360	Nov-25-02
732844 1			295,000.00	293,274.00	Jun-20-03	6.990%	HI - 54.93%	Paid Off - 360	Oct-31-02
742301 1			200,000.00	199,248.51	May-30-03	7.500%	MI - 69.20%	Paid Off - 360	Nov-20-02
733146 1			212,500.00	211,646.46	Jun-12-03	8.250%	CA - 85.00%	Paid Off - 360	Nov-12-02
742515 1			45,000.00	44,688.92	May-07-03	9.750%	MO - 11.69%	Paid Off - 240	Nov-26-02
734759 1			52,000.00	51,797.59	Jun-23-03	8.250%	MI - 71.72%	Paid Off - 360	Nov-26-02
743195 1			204,000.00	203,194.54	May-05-03	7.250%	NY - 80.00%	Paid Off - 360	Nov-26-02
735726 1			178,400.00	177,568.32	Jun-18-03	7.750%	CA - 80.00%	Paid Off - 360	Nov-27-02
743362 1			108,000.00	107,613.90	May-07-03	7.750%	CA - 90.00%	Paid Off - 360	Nov-27-02
735781 1			225,000.00	223,940.26	Jun-18-03	7.490%	NY - 90.00%	Paid Off - 360	Nov-14-02
744046 1			276,250.00	275,102.24	May-02-03	6.990%	CA - 85.00%	Paid Off - 360	Nov-27-02
735818 1			216,000.00	214,868.31	Jun-27-03	6.750%	CA - 74.74%	Paid Off - 360	Nov-26-02
744126 1			49,500.00	49,324.04	May-16-03	7.990%	TX - 71.74%	Paid Off - 360	Nov-20-02
736008 1			170,550.00	169,899.51	Jul-01-03	9.240%	MA - 90.00%	Paid Off - 360	Nov-26-02
744615 1			153,000.00	152,365.54	May-30-03	7.000%	IL - 90.00%	Paid Off - 360	Nov-20-02
737822 1			40,000.00	39,851.30	Jun-25-03	10.990%	IN - 53.33%	Paid Off - 360	Nov-14-02
745365 1			256,500.00	255,626.14	May-12-03	7.990%	CA - 95.00%	Paid Off - 360	Nov-27-02
737993 1			276,250.00	274,908.62	Jun-17-03	7.140%	CA - 85.00%	Paid Off - 360	Nov-22-02
745382 1			304,000.00	302,509.91	May-30-03	6.900%	FL - 80.00%	Paid Off - 360	Nov-27-02
738100 1			85,500.00	84,766.68	Jun-04-03	7.750%	FL - 69.23%	Paid Off - 360	Oct-31-02
745848 1			316,350.00	315,327.37	May-27-03	8.250%	WA - 95.00%	Paid Off - 360	Nov-27-02
738517 1			92,000.00	91,402.77	Jun-30-03	7.750%	TX - 69.17%	Paid Off - 360	Nov-27-02
746198 1			165,100.00	164,665.39	May-28-03	9.250%	MA - 73.38%	Paid Off - 360	Nov-26-02
738732 1			72,250.00	71,982.69	Jun-12-03	8.500%	MO - 85.00%	Paid Off - 360	Nov-19-02
747124 1			192,000.00	191,313.59	May-21-03	7.750%	IL - 80.00%	Paid Off - 360	Nov-26-02
739217 1			188,910.00	188,040.44	Jun-05-03	7.500%	CO - 90.00%	Paid Off - 360	Nov-05-02
747440 1			104,000.00	103,609.20	May-02-03	7.500%	IN - 65.00%	Paid Off - 360	Nov-27-02
739296 1			170,000.00	169,369.69	Jun-02-03	8.490%	MI - 85.00%	Paid Off - 360	Nov-26-02
					Page 19 of 25				© COPYRIGHT 2003 Deutsche Bank
	Morgan Stanley Dean Witter Capital I Inc. 2003-NC2
	Mortgage Pass-Through Certificates
	Prepayment Detail Report for June 25, 2003 Distribution
	Prepayment Detail Report for July 25, 2003 Distribution
	Prepayment Detail Report - Loans Prepaid in Full During Current Distribution
Loan Number			Original			Current	State &
&		Loan	Principal	Prepayment	Prepayment	Note	LTV at	Original	Origination
Loan Group		Status	Balance	Amount	Date	Rate	Origination	Term	Date
748033 1			82,800.00	82,437.89	May-22-03	7.500%	WI - 77.46%	Paid Off - 360	Nov-27-02
739621 1			200,000.00	199,095.39	Jun-03-03	7.500%	CA - 80.00%	Paid Off - 360	Nov-20-02
748147 1			62,500.00	62,287.07	May-28-03	7.990%	LA - 65.79%	Paid Off - 360	Nov-26-02
740879 1			85,590.00	85,190.97	Jun-05-03	7.750%	CA - 90.00%	Paid Off - 360	Nov-20-02
748520 1			270,200.00	269,326.55	May-27-03	8.250%	WA - 70.00%	Paid Off - 360	Nov-27-02
741079 1			236,000.00	234,984.29	Jun-10-03	7.750%	CA - 80.00%	Paid Off - 360	Nov-22-02
748616 1			134,300.00	133,842.46	May-28-03	7.990%	WI - 85.00%	Paid Off - 360	Nov-25-02
741164 1			92,800.00	92,400.56	Jun-24-03	7.750%	IL - 80.00%	Paid Off - 360	Nov-20-02
748810 1			112,000.00	111,507.74	May-22-03	7.790%	CA - 63.28%	Paid Off - 360	Nov-27-02
741391 1			229,500.00	228,498.54	Jun-17-03	8.750%	CA - 90.00%	Paid Off - 360	Nov-26-02
749259 1			60,000.00	59,774.55	May-05-03	7.500%	MI - 75.00%	Paid Off - 360	Nov-21-02
742064 1			212,500.00	211,585.45	Jun-25-03	7.750%	CA - 85.00%	Paid Off - 360	Nov-26-02
749626 1			77,000.00	76,829.59	May-15-03	10.990%	OH - 70.00%	Paid Off - 360	Nov-30-02
742380 1			236,500.00	235,529.90	Jul-01-03	7.990%	MA - 78.83%	Paid Off - 360	Nov-20-02
752297 1			273,000.00	271,811.43	May-05-03	6.750%	CA - 68.25%	Paid Off - 360	Nov-27-02
744840 1			168,871.00	167,986.23	Jun-03-03	6.750%	NC - 70.00%	Paid Off - 360	Nov-27-02
752458 1			267,300.00	265,991.84	May-22-03	7.500%	MI - 90.00%	Paid Off - 360	Nov-20-02
745600 1			235,800.00	234,730.91	Jun-16-03	7.500%	CA - 90.00%	Paid Off - 360	Nov-18-02
752740 1			104,000.00	103,566.32	May-27-03	6.990%	LA - 80.00%	Paid Off - 360	Nov-25-02
747222 1			110,000.00	109,423.69	Jun-02-03	6.750%	IL - 55.00%	Paid Off - 360	Nov-26-02
667376 2			423,300.00	422,021.88	May-30-03	8.990%	MA - 80.94%	Paid Off - 360	Nov-27-02
747474 1			234,000.00	233,040.16	Jun-04-03	7.990%	VA - 58.21%	Paid Off - 360	Nov-27-02
672006 2			265,000.00	263,375.64	May-23-03	6.750%	CA - 62.35%	Paid Off - 360	Sep-18-02
747477 1			171,700.00	170,884.08	Jun-24-03	7.250%	CA - 85.00%	Paid Off - 360	Nov-27-02
695718 2			221,000.00	220,001.42	May-08-03	9.500%	FL - 85.00%	Paid Off - 360	Nov-06-02
748806 1			250,750.00	249,496.16	Jul-01-03	6.990%	CA - 85.00%	Paid Off - 360	Nov-27-02
710102 2			65,100.00	65,002.88	May-07-03	11.900%	MI - 70.00%	Paid Off - 360	Nov-06-02
752020 1			128,000.00	127,329.37	Jun-10-03	6.750%	CA - 56.89%	Paid Off - 360	Nov-27-02
725839 2			72,800.00	72,608.36	May-05-03	9.250%	FL - 80.00%	Paid Off - 360	Nov-08-02
752735 1			97,500.00	97,020.98	Jun-23-03	7.250%	CA - 72.22%	Paid Off - 360	Nov-27-02
727982 2			369,900.00	368,874.48	May-22-03	9.000%	IL - 90.00%	Paid Off - 360	Nov-12-02
754579 1			85,025.00	83,849.45	Jun-25-03	10.740%	NJ - 47.50%	Paid Off - 180	Nov-29-02
731948 2			158,000.00	157,572.04	May-29-03	10.020%	CA - 69.60%	Paid Off - 360	Oct-31-02
650018 2			55,750.00	54,996.53	Jun-17-03	10.990%	CA - 19.99%	Paid Off - 180	Nov-13-02
732477 2			88,500.00	88,260.84	May-09-03	10.950%	OK - 75.00%	Paid Off - 360	Oct-30-02
701100 2			604,000.00	601,099.91	Jun-24-03	7.990%	CA - 80.00%	Paid Off - 360	Oct-23-02
732702 2			43,400.00	43,285.83	May-30-03	10.125%	OK - 70.00%	Paid Off - 360	Oct-30-02
713882 2			535,500.00	532,470.37	Jun-12-03	7.490%	CA - 85.00%	Paid Off - 360	Nov-08-02
733709 2			125,000.00	124,626.75	May-16-03	9.990%	MA - 53.19%	Paid Off - 360	Oct-31-02
715710 2			327,250.00	322,438.42	Jun-09-03	5.320%	CA - 85.00%	Paid Off - 300	Oct-28-02
734523 2			452,000.00	449,721.88	May-02-03	6.950%	CA - 80.00%	Paid Off - 360	Oct-31-02
718209 2			105,000.00	104,713.17	Jun-17-03	10.000%	MI - 77.78%	Paid Off - 360	Nov-27-02
735359 2			100,100.00	99,897.57	May-19-03	10.500%	CA - 55.00%	Paid Off - 360	Nov-12-02
718896 2			212,000.00	210,700.52	Jun-19-03	6.750%	CA - 80.00%	Paid Off - 360	Oct-23-02
736349 2			420,000.00	418,772.17	May-06-03	7.640%	FL - 80.00%	Paid Off - 360	Nov-14-02
721962 2			36,200.00	35,936.42	Jul-01-03	10.990%	FL - 20.00%	Paid Off - 240	Nov-25-02
739323 2			188,000.00	187,359.52	May-21-03	7.990%	IL - 80.00%	Paid Off - 360	Nov-08-02
724043 2			346,800.00	343,538.44	Jun-26-03	5.500%	CA - 85.00%	Paid Off - 360	Oct-31-02
741687 2			283,410.00	282,493.85	May-20-03	8.250%	WI - 90.00%	Paid Off - 360	Nov-08-02
726297 2			135,800.00	135,067.76	Jun-18-03	7.500%	MN - 70.00%	Paid Off - 360	Oct-30-02
741827 2			58,500.00	58,310.35	May-12-03	8.250%	MS - 37.03%	Paid Off - 360	Nov-13-02
726335 2			156,000.00	155,493.61	Jun-11-03	9.900%	CA - 60.00%	Paid Off - 360	Oct-25-02
744667 2			260,000.00	259,062.67	May-14-03	7.750%	CA - 60.75%	Paid Off - 360	Nov-26-02
727708 2			187,500.00	186,867.44	Jun-17-03	9.720%	CA - 75.00%	Paid Off - 360	Oct-31-02
745400 2			100,000.00	99,597.76	May-23-03	7.750%	CA - 56.82%	Paid Off - 360	Nov-27-02
728848 2			35,000.00	34,716.76	Jun-25-03	9.990%	DC - 9.33%	Paid Off - 240	Nov-25-02
749880 2			90,400.00	90,091.99	May-19-03	7.990%	TX - 80.00%	Paid Off - 360	Nov-27-02
728966 2			471,750.00	469,317.88	Jun-03-03	7.625%	CA - 85.00%	Paid Off - 360	Oct-31-02
750603 2			50,000.00	48,989.10	May-15-03	8.990%	UT - 42.02%	Paid Off - 180	Nov-26-02
729289 2			180,000.00	179,397.62	Jun-26-03	9.750%	CO - 80.00%	Paid Off - 360	Oct-29-02
751758 2			210,000.00	209,447.19	May-14-03	9.250%	NJ - 72.41%	Paid Off - 360	Nov-27-02
731120 2			69,225.00	69,056.69	Jun-12-03	11.250%	NV - 65.00%	Paid Off - 360	Nov-05-02
752196 2			99,000.00	98,147.30	May-28-03	7.990%	TN - 78.57%	Paid Off - 240	Nov-26-02
731223 2			120,000.00	119,657.17	Jun-24-03	9.750%	CA - 50.00%	Paid Off - 360	Nov-06-02
752750 2			26,000.00	25,706.77	May-27-03	10.990%	LA - 20.00%	Paid Off - 180	Nov-25-02
733723 2			432,000.00	429,713.21	Jun-03-03	7.500%	CA - 56.10%	Paid Off - 360	Oct-31-02
754611 2			210,800.00	210,345.54	May-30-03	10.200%	NJ - 85.00%	Paid Off - 360	Nov-29-02
734777 2			270,000.00	269,049.83	Jun-26-03	8.750%	CA - 87.38%	Paid Off - 360	Nov-07-02
736680 2			97,750.00	97,470.02	Jun-04-03	9.750%	CA - 85.00%	Paid Off - 360	Nov-27-02
736793 2			135,150.00	134,743.13	Jun-12-03	9.500%	NC - 85.00%	Paid Off - 360	Nov-12-02
743442 2			387,000.00	385,063.91	Jun-24-03	7.500%	CA - 90.00%	Paid Off - 360	Nov-27-02
744539 2			450,000.00	448,218.34	Jun-12-03	8.250%	MA - 90.00%	Paid Off - 360	Nov-15-02
744776 2			499,900.00	497,638.91	Jun-23-03	7.500%	AL - 74.95%	Paid Off - 360	Nov-21-02
745057 2			155,000.00	154,629.42	Jun-17-03	10.590%	PA - 70.45%	Paid Off - 360	Nov-26-02
746089 2			216,000.00	214,812.40	Jun-03-03	6.500%	CA - 62.61%	Paid Off - 360	Nov-22-02
746192 2			425,000.00	423,077.66	Jun-09-03	7.500%	CA - 78.70%	Paid Off - 360	Nov-25-02
746659 2			95,000.00	94,665.99	Jun-30-03	8.750%	FL - 40.43%	Paid Off - 360	Nov-19-02
747920 2		FCL	194,650.00	193,929.78	Jun-25-03	8.500%	NJ - 85.00%	Paid Off - 360	Nov-13-02
748552 2			94,500.00	94,150.33	Jun-17-03	8.500%	OH - 90.00%	Paid Off - 360	Nov-26-02
749039 2			54,000.00	53,806.06	Jun-30-03	8.650%	FL - 37.50%	Paid Off - 360	Nov-19-02
752802 2			135,900.00	135,342.56	Jun-18-03	7.990%	NC - 90.00%	Paid Off - 360	Nov-27-02
755254 2			357,000.00	355,538.59	Jun-04-03	8.000%	CA - 85.00%	Paid Off - 360	Nov-27-02
758724 2			109,900.00	109,493.37	Jun-24-03	8.500%	TN - 73.27%	Paid Off - 360	Nov-27-02
					Page 20 of 25				© COPYRIGHT 2003 Deutsche Bank
	Morgan Stanley Dean Witter Capital I Inc. 2003-NC2
	Mortgage Pass-Through Certificates
	Realized Loss Report for June 25, 2003 Distribution
	Realized Loss Report for July 25, 2003 Distribution
	Realized Loss Report - Collateral
COLLATERAL REALIZED LOSSES						GROUP 2	GROUP 1	TOTAL
	Current
	Number of Loans Liquidated					-	-1	-1
	Collateral Realized Loss/(Gain) Amount					-	-7,554.65	-7,554.65
	Net Liquidation Proceeds					-	-(105.32)	-(105.32)
	Cumulative
	Number of Loans Liquidated					-	-1	-1
	Collateral Realized Loss/(Gain) Amount					-	-7,554.65	-7,554.65
	Net Liquidation Proceeds					-	-(105.32)	-(105.32)
	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 21 of 25				© COPYRIGHT 2003 Deutsche Bank
	Morgan Stanley Dean Witter Capital I Inc. 2003-NC2
	Mortgage Pass-Through Certificates
	Realized Loss Report for June 25, 2003 Distribution
	Realized Loss Report for July 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					0.00%	0.00%	0.00%
	12 Months Avg MDR
	Avg MDR Since Cut-off					0.00%	0.00%	0.00%
	CDR					0.00%	0.0001%	0.0001%
	3 Months Avg CDR					0.00%	0.00%	0.00%
	12 Months Avg CDR
	Avg CDR Since Cut-off					0.00%	0.00%	0.00%
	SDA					0.00%	0.0009%	0.0006%
	3 Months Avg SDA Approximation					0.00%	0.0004%	0.0002%
	12 Months Avg SDA Approximation
	Avg SDA Since Cut-off Approximation					0.00%	0.0003%	0.0002%
	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 22 of 25				© COPYRIGHT 2003 Deutsche Bank
	Morgan Stanley Dean Witter Capital I Inc. 2003-NC2
	Mortgage Pass-Through Certificates
	Realized Loss Report for June 25, 2003 Distribution
	Realized Loss Report for July 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 23 of 25				© COPYRIGHT 2003 Deutsche Bank
	Morgan Stanley Dean Witter Capital I Inc. 2003-NC2
	Mortgage Pass-Through Certificates
	Realized Loss Detail Report for June 25, 2003 Distribution
	Realized Loss Detail Report for July 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 Loan Count = 1						Loan Group 1 = Group 1 Group
Total Original Principal Balance = 0.00						Loan Group 2 = Group 2 Group
Total Original Principal Balance = 137,700.00						Loan Group 2 = Group 2 Group
Total Prior Principal Balance = 0.00
Total Prior Principal Balance = 7,449.33
Total Realized Loss Amount = 0.00
Total Realized Loss Amount = 7,554.65
Total Net Liquidation Proceeds = 0.00
Total Net Liquidation Proceeds = -105.32
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
743396 1			137,700.00	7,449.33	7,554.62	8.500%	CO - 90.00%	360	Nov-27-02
					Page 24 of 25				© COPYRIGHT 2003 Deutsche Bank
	Morgan Stanley Dean Witter Capital I Inc. 2003-NC2
	Mortgage Pass-Through Certificates
	Triggers, Adj. Rate Cert. and Miscellaneous Report for June 25, 2003 Distribution
	Triggers, Adj. Rate Cert. and Miscellaneous Report for July 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))							01.7221%
	(x) Rolling 3-month avg. of 60+ Day Delinq. Loans							712,~~463~~364,~~021~~840.6139
	(y) Stated Principal Balance							1,~~041~~022,~~059~~398,~~386~~614.2875
	(B) 40% of Sr. Enhancement Percentage							7.7990%
	2. Does (A) exceed (B)?							No
	(A) Realized Loss % (quotient of (x) over (y))							0.00%
	(x) Agg. Realized Losses to date							07,554.0065
	(y) Cut-off Date Pool Principal Balance							1,082,683,538.28
	(B) Applicable Percentage							100.00%
	Senior Enhancement Percentage (Prior)							19.4876%
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
	Class A-2 Certificate Deficiency Amount							0.00
	Preference Amount							0.00
	Reimbursement Amount							0.00
	Group 1 Closing Date Deposit Amount							1,454.72
	Group 2 Closing Date Deposit Amount							1,319.44
				Page 25 of 25				© COPYRIGHT 2003 Deutsche Bank

Filing Compare · MORGAN STANLEY DEAN WITTER CAPITAL I INC SERIES 2003 NC2