

                           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):  August 25, 2003


                          MORGAN STANLEY ABS CAPITAL I INC.
         (as Depositor, Ocwen Federal Bank FSB as Servicer, CDC Mortgage
          as Unaffiliated Seller and Deutsche Bank National Trust Company,
                                      as Trustee).


                   MORTGAGE PASS-THROUGH CERTIFICATES SERIES 2003-HE2
                  (Exact name of Registrant as specified in its Charter)


                                         DELAWARE
                     (State or Other Jurisdiction of Incorporation)

               333-104046-03                            13-3939229
          (Commission File Number)        (I.R.S. Employer Identification No.)


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


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



     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
     August 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 May 1,2003..

          Date:  Aug 28, 2003                By:  /s/  Katherine M. Wannenmacher
                                            Katherine M. Wannenmacher
                                            Vice President

                                   EXHIBIT INDEX

          DOCUMENT

          Monthly Remittance Statement to the Certificateholders
          dated as of August 25, 2003.


	CDC Mortgage Capital Trust 2003-HE2
	Mortgage Pass-Through Certificates


	August 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				12
			8.	Foreclosure Report				13
			9.	Prepayment Report				14
			10.	Prepayment Detail Report				17
			11.	Realized Loss Report				18
			12.	Realized Loss Detail Report				21
			13.	Triggers, Adj. Rate Cert. and Miscellaneous Report				22




				Total Number of Pages				22



			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:		CDC Mortgage Capital					Cut-Off Date: May 1, 2003
	Certificate Insurer(s):							Closing Date: May 29, 2003
								First Payment Date: June 25, 2003
	Servicer(s):		Ocwen Federal Master Servicer


								Distribution Date: August 25, 2003
	Underwriter(s):		Morgan Stanley Dean Witter					Record Date: August 22, 2003







						Page 1 of 22					© COPYRIGHT 2003 Deutsche Bank
	CDC Mortgage Capital Trust 2003-HE2
	Mortgage Pass-Through Certificates
	REMIC II Series 2003-HE2
	Certificate Payment Report for August 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	FLT	557,072,000.00			548,318,304.33	684,636.33	7,417,078.36	8,101,714.69	-	-	540,901,225.97
M-1	MEZ	41,137,000.00			41,137,000.00	67,304.70	406.68	67,711.38	-	-	41,136,593.32
M-2	MEZ	37,710,000.00			37,710,000.00	97,417.50	372.81	97,790.31	-	-	37,709,627.20
M-3	MEZ	11,998,000.00			11,998,000.00	34,094.32	118.61	34,212.93	-	-	11,997,881.39
B-1	SUB	10,285,000.00			10,285,000.00	39,854.38	101.68	39,956.06	-	-	10,284,898.32
B-2	SUB	7,884,000.00			7,884,000.00	32,926.65	77.94	33,004.59	-	-	7,883,922.06
B-3	SUB	8,914,000.00			8,914,000.00	37,228.33	88.12	37,316.45	-	-	8,913,911.88
X	SUB	10,627,122.00			10,627,221.94	2,897,373.25	-	2,897,373.25	-	-	10,627,221.94
P	EXE	100.00			-	-	-	-	-	-	-
R	R	-			-	-	-	-	-	-	-


Total		685,627,222.00			676,873,526.27	3,890,835.46	7,418,244.21	11,309,079.67	-	-	669,455,282.06


	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	07/25/03	08/24/03		A-Act/360	12506YBD0	557,072,000.00	984.286240	1.228991	13.314398	14.543389	970.971842
M-1	07/25/03	08/24/03		A-Act/360	12506YBE8	41,137,000.00	1,000.000000	1.636111	0.009886	1.645997	999.990114
M-2	07/25/03	08/24/03		A-Act/360	12506YBF5	37,710,000.00	1,000.000000	2.583333	0.009886	2.593219	999.990114
M-3	07/25/03	08/24/03		A-Act/360	12506YBG3	11,998,000.00	1,000.000000	2.841667	0.009886	2.851553	999.990114
B-1	07/25/03	08/24/03		A-Act/360	12506YBH1	10,285,000.00	1,000.000000	3.875000	0.009886	3.884887	999.990114
B-2	07/25/03	08/24/03		A-Act/360	12506YBJ7	7,884,000.00	1,000.000000	4.176389	0.009886	4.186275	999.990114
B-3	07/25/03	08/24/03		A-Act/360	12506YBK4	8,914,000.00	1,000.000000	4.176389	0.009886	4.186275	999.990114
X				A-Act/360		10,627,122.00	64,693.032432	272.639502	-	272.639502	63,994.984155
P				-		100.00	-	-	-	-	-
R				-		-	-	-	-	-	-


							Page 2 of 22				© COPYRIGHT 2003 Deutsche Bank
	CDC Mortgage Capital Trust 2003-HE2
	Mortgage Pass-Through Certificates
	REMIC II Series 2003-HE2
	Certificate Payment Report for August 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	557,072,000.00		2,021,857.41		-	16,170,774.03	16,170,774.03	18,192,631.44	-	-	540,901,225.97
M-1	41,137,000.00		195,617.86		-	406.68	406.68	196,024.54	-	-	41,136,593.32
M-2	37,710,000.00		280,719.53		-	372.81	372.81	281,092.34	-	-	37,709,627.20
M-3	11,998,000.00		98,113.65		-	118.61	118.61	98,232.26	-	-	11,997,881.39
B-1	10,285,000.00		114,274.93		-	101.68	101.68	114,376.61	-	-	10,284,898.32
B-2	7,884,000.00		94,343.01		-	77.94	77.94	94,420.95	-	-	7,883,922.06
B-3	8,914,000.00		106,668.40		-	88.12	88.12	106,756.52	-	-	8,913,911.88
X	10,627,122.00		7,931,963.51		0.00	-	-	7,931,963.51	-	99.94	10,627,221.94
P	100.00		76,065.49		100.00	-	100.00	76,165.49	-	-	-
R	-		-		-	-	-	-	-	-	-


Total	685,627,222.00		10,919,623.79		100.00	16,171,939.88	16,172,039.88	27,091,663.67	-	99.94	669,455,282.06


	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	1.45000%	548,318,304.33			684,636.33	-	-	-	684,636.33	684,636.33	-
M-1	1.90000%	41,137,000.00			67,304.70	-	-	-	67,304.70	67,304.70	-
M-2	3.00000%	37,710,000.00			97,417.50	-	-	-	97,417.50	97,417.50	-
M-3	3.30000%	11,998,000.00			34,094.32	-	-	-	34,094.32	34,094.32	-
B-1	4.50000%	10,285,000.00			39,854.38	-	-	-	39,854.38	39,854.38	-
B-2	4.85000%	7,884,000.00			32,926.65	-	-	-	32,926.65	32,926.65	-
B-3	4.85000%	8,914,000.00			37,228.33	-	-	-	37,228.33	37,228.33	-
X	5.12269%	687,500,748.21			2,897,373.25	-	-	-	2,897,373.25	2,897,373.25	-
P		-			-	-	-	-	-	-	-
R		-			-	-	-	-	-	-	-


Total		1,353,747,052.54			3,890,835.46	-	-	-	3,890,835.46	3,890,835.46	-


							Page 3 of 22				© COPYRIGHT 2003 Deutsche Bank
	CDC Mortgage Capital Trust 2003-HE2
	Mortgage Pass-Through Certificates

	Collection Account Report for August 25, 2003 Distribution


	Collection Account Report


SUMMARY								TOTAL

	Principal Collections							7,418,244.21
	Principal Other Accounts							0.00
	TOTAL NET PRINCIPAL							7,418,244.21

	Interest Collections							4,128,834.53
	Interest Withdrawals							0.00
	Interest Other Accounts							0.00
	Interest Fees							(237,999.07)
	TOTAL NET INTEREST							3,890,835.46

	TOTAL PRINCIPAL & INTEREST DISTRIBUTABLE							11,309,079.67

	Prepayment Premiums Collected							0.00

	TOTAL FUNDS AVAILABLE FOR DISTRIBUTION							11,309,079.67


PRINCIPAL - COLLECTIONS								TOTAL

	Scheduled Principal Received							479,063.05
	Prepayments In Full							6,854,996.70
	Curtailments							77,597.88
	Liquidations							0.00
	Insurance Principal							0.00
	Repurchased Principal Amounts							0.00
	Other Principal							0.00
	Total Realized Loss Of Principal							0.00
	Delinquent Principal							(43,020.63)
	Advanced Principal							43,020.63

	TOTAL PRINCIPAL COLLECTED							7,418,244.21


				Page 4 of 22				© COPYRIGHT 2003 Deutsche Bank
	CDC Mortgage Capital Trust 2003-HE2
	Mortgage Pass-Through Certificates

	Collection Account Report for August 25, 2003 Distribution


	Collection Account Report


PRINCIPAL - WITHDRAWALS								TOTAL
SPACE INTENTIONALLY LEFT BLANK


PRINCIPAL - OTHER ACCOUNTS								TOTAL
SPACE INTENTIONALLY LEFT BLANK


INTEREST - COLLECTIONS								TOTAL

	Scheduled Interest							4,155,422.98
	Liquidation Interest							0.00
	Repurchased Interest							0.00
	Insurance Interest							0.00
	Other Interest							0.00
	Relief Act Interest Shortfalls							0.00
	Net Prepayment Interest Shortfalls							0.00
	Delinquent Interest							(444,672.31)
	Interest Advanced							418,083.86

	TOTAL INTEREST COLLECTED							4,128,834.53


				Page 5 of 22				© COPYRIGHT 2003 Deutsche Bank
	CDC Mortgage Capital Trust 2003-HE2
	Mortgage Pass-Through Certificates

	Collection Account Report for August 25, 2003 Distribution


	Collection Account Report


INTEREST - WITHDRAWALS								TOTAL

	Trust Fund Expenses							0.00
	Nonrecoverable Advances							0.00
	Reimbursements to Master Servicer							0.00

	TOTAL INTEREST WITHDRAWALS							0.00


INTEREST - OTHER ACCOUNTS								TOTAL



	Retained Interest Due to Unaffiliated Seller							0.00

	TOTAL INTEREST OTHER ACCOUNTS							0.00


INTEREST - FEES								TOTAL

	Current Servicing Fees							235,460.79
	Trustee Fee							2,538.28
	Certificate Insurance Fees

	TOTAL INTEREST OTHER FEES							237,999.07


				Page 6 of 22				© COPYRIGHT 2003 Deutsche Bank
	CDC Mortgage Capital Trust 2003-HE2
	Mortgage Pass-Through Certificates

	Credit Enhancement Report for August 25, 2003 Distribution


	Credit Enhancement Report


ACCOUNTS								TOTAL
SPACE INTENTIONALLY LEFT BLANK


INSURANCE								TOTAL
SPACE INTENTIONALLY LEFT BLANK


STRUCTURAL FEATURES								TOTAL

	Beginning Subordinated Amount							10,627,221.94
	Ending Subordinated Amount							10,627,221.94
	Specified Subordinated Amount							10,627,221.94


	Senior Enhancement Percentage							19.20%


				Page 7 of 22				© COPYRIGHT 2003 Deutsche Bank
	CDC Mortgage Capital Trust 2003-HE2
	Mortgage Pass-Through Certificates

	Collateral Report for August 25, 2003 Distribution


	Collateral Report


COLLATERAL								TOTAL
	Loan Count:
	*Original*							3162
	Prior							3,397
	Prefunding							309
	Scheduled Paid Offs							-
	Full Voluntary Prepayments							(31)
	Repurchases							-
	Liquidations							-
	Current							3,675

	*Principal Balance:*
	Original							539,281,596.93
	Prior							578,872,286.65
	Prefunding							50,045,887.61
	Scheduled Principal							(479,063.05)
	Partial and Full Voluntary Prepayments							(6,932,594.58)
	Repurchases							-
	Liquidations							-
	Current							621,506,516.63

PREFUNDING								TOTAL

	Prefunding Account - Initial Balance							146,345,625.01
	Prefunding Account - Beginning Balance							0.00
	Prefunding Account - Withdrawls for Subsequent Transfers							50,045,887.61
	Prefunding Account - Released as Principal							6,586.58
	Prefunding Account - Ending Balance							47,948,765.43

	Capitalized Interest Account - Initial Balance							712,795.41
	Capitalized Interest Account - Beginning Balance							712,795.41
	Capitalized Interest Account - Withdrawls							712,795.41
	Capitalized Interest Account - Interest Earnings							0.00
	Capitalized Interest Account - Ending Balance							0.00




Current Prin Balance by Groups (in millions of dollars)					Total Current Principal Balance (in millions of dollars)


				Page 8 of 22				© COPYRIGHT 2003 Deutsche Bank
	CDC Mortgage Capital Trust 2003-HE2
	Mortgage Pass-Through Certificates

	Collateral Report for August 25, 2003 Distribution


	Collateral Report


CHARACTERISTICS								TOTAL

	Weighted Average Coupon Original							7.927202%
	Weighted Average Coupon Prior							7.930752%
	Weighted Average Coupon Current							7.928706%
	Weighted Average Months to Maturity Original							92
	Weighted Average Months to Maturity Prior							90
	Weighted Average Months to Maturity Current							329
	Weighted Avg Remaining Amortization Term Original							-
	Weighted Avg Remaining Amortization Term Prior							-
	Weighted Avg Remaining Amortization Term Current							351
	Weighted Average Seasoning Original							-
	Weighted Average Seasoning Prior							-
	Weighted Average Seasoning Current							5.06

Note: Original information refers to deal issue.




WAC by Groups					Total WAC


WARAT by Groups					Total WARAT


Note: Dates correspond to distribution dates.
				Page 9 of 22				© COPYRIGHT 2003 Deutsche Bank
	CDC Mortgage Capital Trust 2003-HE2
	Mortgage Pass-Through Certificates

	Collateral Report for August 25, 2003 Distribution


	Collateral Report


ARM CHARACTERISTICS								TOTAL

	Weighted Average Margin Original							4.861%
	Weighted Average Margin Prior							4.856%
	Weighted Average Margin Current							4.845%
	Weighted Average Max Rate Original							10.631%
	Weighted Average Max Rate Prior							10.525%
	Weighted Average Max Rate Current							10.536%
	Weighted Average Min Rate Original							5.696%
	Weighted Average Min Rate Prior							5.624%
	Weighted Average Min Rate Current							5.635%
	Weighted Average Cap Up Original							0.853%
	Weighted Average Cap Up Prior							0.847%
	Weighted Average Cap Up Current							0.853%
	Weighted Average Cap Down Original							0.853%
	Weighted Average Cap Down Prior							0.847%
	Weighted Average Cap Down Current							0.853%

Note: Original information refers to deal issue.

SERVICING FEES / ADVANCES								TOTAL

	Current Servicing Fees							235,460.79
	Delinquent Servicing Fees							26,588.45
	TOTAL SERVICING FEES							262,049.24

	Prepayment Interest Shortfall							19,767.59
	Compensating Interest							(19,767.59)

	Delinquent Servicing Fees							(26,588.45)

	COLLECTED SERVICING FEES							235,460.79

	Aggregate Advances with respect to this Distribution							461,104.49
	Current Nonrecoverable Advances							0.00
	Cumulative Nonrecoverable Advances							0.00


ADDITIONAL COLLATERAL INFORMATION								TOTAL

	Net Prepayment Interest Shortfall							0.00

	Net Monthly Excess Cash Flow							2,897,373.25

	Ending Pool Stated Principal Balance							621,506,516.63


				Page 10 of 22				© COPYRIGHT 2003 Deutsche Bank
	CDC Mortgage Capital Trust 2003-HE2
	Mortgage Pass-Through Certificates

	Delinquency Report for August 25, 2003 Distribution


	Delinquency Report - Total


				<1 PAYMENT	1 PAYMENT	2 PAYMENTS	3+ PAYMENTS	TOTAL
DELINQUENT		Balance			4,411,013.01	1,204,376.48	-	5,615,389.49
		% Balance			0.71%	0.19%	0.00%	0.90%
		# Loans			21	5	-	26
		% # Loans			0.57%	0.14%	0.00%	0.71%
FORECLOSURE		Balance		510,812.91	-	-	-	510,812.91
		% Balance		0.08%	0.00%	0.00%	0.00%	0.08%
		# Loans		2	-	-	-	2
		% # Loans		0.05%	0.00%	0.00%	0.00%	0.05%
BANKRUPTCY		Balance		1,357,594.62	156,904.60	-	-	1,514,499.22
		% Balance		0.22%	0.03%	0.00%	0.00%	0.24%
		# Loans		8	1	-	-	9
		% # Loans		0.22%	0.03%	0.00%	0.00%	0.24%
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		1,868,407.53	4,567,917.61	1,204,376.48	-	7,640,701.62
		% Balance		0.30%	0.73%	0.19%	0.00%	1.23%
		# Loans		10	22	5	-	37
		% # Loans		0.27%	0.60%	0.14%	0.00%	1.01%
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 22				© COPYRIGHT 2003 Deutsche Bank
	CDC Mortgage Capital Trust 2003-HE2
	Mortgage Pass-Through Certificates

	REO Report for August 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
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 12 of 22				© COPYRIGHT 2003 Deutsche Bank
	CDC Mortgage Capital Trust 2003-HE2
	Mortgage Pass-Through Certificates

	Foreclosure Report for August 25, 2003 Distribution


	Foreclosure Report - Mortgage Loans that Become Foreclosure During Current Distribution


SUMMARY				LOAN GROUP

Total Loan Count = 2				Loan Group 1 = Group 1 Group
Total Original Principal Balance = 513,000.00
Total Current Balance = 510,812.91


Loan Number		Original	Stated		Current	State &
&		Principal	Principal	Paid to	Note	LTV at	Original	Origination
Loan Group		Balance	Balance	Date	Rate	Origination	Term	Date

32071243 1		416,000.00	414,005.72	Aug-01-03	6.250%	CA - 80.00%	360	Feb-25-03
32076010 1		97,000.00	96,807.19	Aug-01-03	10.580%	CA - 48.50%	360	Feb-28-03


				Page 13 of 22				© COPYRIGHT 2003 Deutsche Bank
	CDC Mortgage Capital Trust 2003-HE2
	Mortgage Pass-Through Certificates

	Prepayment Report for August 25, 2003 Distribution


	Prepayment Report - Voluntary Prepayments


VOLUNTARY PREPAYMENTS								TOTAL

	*Current*
	Number of Paid in Full Loans							31
	Number of Repurchased Loans							-
	Total Number of Loans Prepaid in Full							31

	Paid in Full Balance							6,854,996.70
	Repurchased Loans Balance							-
	Curtailments Amount							77,597.88
	Total Prepayment Amount							6,932,594.58

	*Cumulative*
	Number of Paid in Full Loans							64
	Number of Repurchased Loans							-
	Total Number of Loans Prepaid in Full							64

	Paid in Full Balance							14,661,860.56
	Repurchased Loans Balance							-
	Curtailments Amount							178,072.86
	Total Prepayment Amount							14,839,933.42

SPACE INTENTIONALLY LEFT BLANK


Total Prepayments by Groups (in thousands of dollars)					Total Prepayments (in thousands of dollars)


				Page 14 of 22				© COPYRIGHT 2003 Deutsche Bank
	CDC Mortgage Capital Trust 2003-HE2
	Mortgage Pass-Through Certificates

	Prepayment Report for August 25, 2003 Distribution


	Prepayment Report - Voluntary Prepayments


VOLUNTARY PREPAYMENT RATES								TOTAL

	SMM							1.10%
	3 Months Avg SMM							0.83%
	12 Months Avg SMM
	Avg SMM Since Cut-off							0.83%

	CPR							12.46%
	3 Months Avg CPR							9.54%
	12 Months Avg CPR
	Avg CPR Since Cut-off							9.54%

	PSA							1231.63%
	3 Months Avg PSA Approximation							2827.16%
	12 Months Avg PSA Approximation
	Avg PSA Since Cut-off Approximation							2827.16%







CPR by Groups					Total CPR


PSA by Groups					Total PSA


				Page 15 of 22				© COPYRIGHT 2003 Deutsche Bank
	CDC Mortgage Capital Trust 2003-HE2
	Mortgage Pass-Through Certificates

	Prepayment Report for August 25, 2003 Distribution


	Prepayment Report - Voluntary Prepayments




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 16 of 22				© COPYRIGHT 2003 Deutsche Bank


	CDC Mortgage Capital Trust 2003-HE2
	Mortgage Pass-Through Certificates

	Prepayment Detail Report for August 25, 2003 Distribution


	Prepayment Detail Report - Loans Prepaid in Full During Current Distribution


SUMMARY						LOAN GROUP

Total Loan Count = 31						Loan Group 1 = Group 1 Group
Total Original Principal Balance = 5,332,930.00
Total Prepayment Amount = 6,854,996.70


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

31946726 1			59,980.00	59,855.63	Jul-10-03	11.250%	CA - 20.00%	Paid Off - 180	Dec-19-02
31946825 1			261,000.00	260,198.12	Jul-01-03	8.500%	VA - 90.00%	Paid Off - 360	Dec-31-02
31953094 1			79,200.00	78,955.27	Jul-09-03	9.375%	WI - 90.00%	Paid Off - 360	Dec-05-02
31961816 1			92,800.00	91,990.77	Jul-24-03	6.250%	PA - 80.00%	Paid Off - 360	Sep-25-02
31976038 1			188,000.00	187,349.11	Jul-02-03	8.500%	MN - 83.56%	Paid Off - 360	Jan-21-03
31977317 1			105,000.00	104,642.24	Jul-08-03	7.990%	CA - 61.76%	Paid Off - 360	Jan-22-03
31977572 1			129,000.00	128,438.34	Jul-24-03	6.750%	CA - 73.71%	Paid Off - 360	Jan-24-03
31977739 1			216,000.00	215,264.11	Jul-28-03	7.990%	CA - 90.00%	Paid Off - 360	Jan-08-03
31978158 1			100,000.00	99,707.48	Jul-01-03	8.740%	IL - 80.00%	Paid Off - 360	Jan-30-03
31995756 1			122,400.00	121,892.46	Jul-18-03	7.000%	CA - 90.00%	Paid Off - 360	Jan-02-03
31996176 1			75,000.00	74,769.56	Jul-29-03	8.500%	NJ - 78.95%	Paid Off - 360	Jan-22-03
31997570 1			23,600.00	23,565.51	Jul-29-03	12.000%	RI - 10.00%	Paid Off - 180	Jan-27-03
32059917 1			109,000.00	108,457.16	Jul-30-03	6.500%	IL - 68.55%	Paid Off - 360	Jan-02-03
32060287 1			323,000.00	321,453.37	Jul-31-03	7.000%	IL - 79.75%	Paid Off - 360	Jan-21-03
32062564 1			238,550.00	238,165.76	Jul-03-03	10.500%	IL - 65.00%	Paid Off - 360	Feb-24-03
32063398 1			250,000.00	249,235.83	Jul-30-03	7.400%	CA - 80.00%	Paid Off - 360	Feb-24-03
32063711 1			150,000.00	149,592.51	Jul-15-03	7.990%	IL - 61.22%	Paid Off - 360	Feb-24-03
32066631 1			92,800.00	92,611.96	Jul-10-03	8.000%	RI - 80.00%	Paid Off - 360	Mar-31-03
32066656 1			23,200.00	23,059.29	Jul-10-03	12.000%	RI - 20.00%	Paid Off - 180	Mar-31-03
32067316 1			305,000.00	304,086.08	Jul-08-03	7.500%	CT - 79.02%	Paid Off - 360	Feb-21-03
32068348 1			175,700.00	175,381.70	Jul-09-03	8.550%	CA - 94.97%	Paid Off - 360	Mar-25-03
32069064 1			90,000.00	89,837.30	Jul-17-03	8.560%	LA - 100.00%	Paid Off - 360	Mar-28-03
32070039 1			104,500.00	104,327.11	Jul-15-03	8.990%	RI - 84.96%	Paid Off - 360	Mar-14-03
32070229 1			49,500.00	49,422.60	Jul-22-03	9.260%	DE - 90.00%	Paid Off - 360	Mar-27-03
32072217 1			230,400.00	229,830.11	Jul-10-03	7.000%	MI - 90.00%	Paid Off - 360	Mar-28-03
32073751 1			500,000.00	499,108.02	Jul-28-03	8.625%	CA - 75.76%	Paid Off - 360	Feb-28-03
32076309 1			221,000.00	220,551.26	Jul-22-03	7.990%	IL - 84.03%	Paid Off - 360	Mar-07-03
32076481 1			497,000.00	496,177.75	Jul-24-03	8.990%	CA - 84.96%	Paid Off - 360	Mar-24-03
32076614 1			132,800.00	132,641.49	Jul-31-03	8.590%	MN - 80.00%	Paid Off - 360	Apr-04-03
32077703 1			186,200.00	185,738.52	Jul-30-03	6.990%	CA - 80.00%	Paid Off - 360	Mar-19-03
32489080 1			202,300.00	201,678.45	Jul-31-03	8.500%	CA - 85.00%	Paid Off - 360	Jan-09-03


					Page 17 of 22				© COPYRIGHT 2003 Deutsche Bank
	CDC Mortgage Capital Trust 2003-HE2
	Mortgage Pass-Through Certificates

	Realized Loss Report for August 25, 2003 Distribution


	Realized Loss Report - Collateral


COLLATERAL REALIZED LOSSES								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%


							3 Months Moving Average


Collateral Loss Severity Approximation by Groups					Collateral Loss Severity Approximation


				Page 18 of 22				© COPYRIGHT 2003 Deutsche Bank
	CDC Mortgage Capital Trust 2003-HE2
	Mortgage Pass-Through Certificates

	Realized Loss Report for August 25, 2003 Distribution


	Realized Loss Report - Collateral


DEFAULT SPEEDS								TOTAL

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

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

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



CDR by Groups					Total CDR


SDA by Groups					Total SDA


				Page 19 of 22				© COPYRIGHT 2003 Deutsche Bank
	CDC Mortgage Capital Trust 2003-HE2
	Mortgage Pass-Through Certificates

	Realized Loss Report for August 25, 2003 Distribution


	Realized Loss Report - Collateral




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 20 of 22				© COPYRIGHT 2003 Deutsche Bank


	CDC Mortgage Capital Trust 2003-HE2
	Mortgage Pass-Through Certificates

	Realized Loss Detail Report for August 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
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 21 of 22				© COPYRIGHT 2003 Deutsche Bank
	CDC Mortgage Capital Trust 2003-HE2
	Mortgage Pass-Through Certificates

	Triggers, Adj. Rate Cert. and Miscellaneous Report for August 25, 2003 Distribution


	Triggers, Adj. Rate Cert. and Miscellaneous Report


TRIGGER EVENTS								TOTAL

	Has a Stepdown Date occurred?							No

	Does Trigger Event exist?							No
	(60+ Day Delq % is > = to 40% of Senior Enhancement %)
	(x) Rolling 3-month avg. of 60+ Day Delq loans							786,932.97
	(y) Stated Principal Balance							0.00
	60+ Day Delq % ( quotient of (x) over (y) )							0.12%
	Trigger Event 40% of Sr Enhancement Percentage							7.03%

	Senior Enhancement Percentage							19.20%


ADJUSTABLE RATE CERTIFICATE INFORMATION								TOTAL
SPACE INTENTIONALLY LEFT BLANK


ADDITIONAL INFORMATION								TOTAL

	Basis Risk Carry Forward Amount							0.00


				Page 22 of 22				© COPYRIGHT 2003 Deutsche Bank

MORTGAGE PASS-THROUGH CERTIFICATES SERIES 2003-HE2 8-K