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): ~~October~~November 2725, 2003 MORGAN STANLEY CAPITAL I INC. (as Depositor, Homeq Servicing Corporation as Servicer, NC Capital Corporation, as Responsible Party and Deutsche Bank National Trust Company, as Trustee). MORGAN STANLEY ABS CAPITAL I MORT PS-THE CER SER 2003 NC5 (Exact name of Registrant as specified in its Charter) DELAWARE (State or Other Jurisdiction of Incorporation) 333-104046-02 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 ~~October~~November 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 May 1,2003. Date: ~~Oct~~Nov 2926, 2003 By: /s/ Katherine M. Wannenmacher Katherine M. Wannenmacher Vice President EXHIBIT INDEX DOCUMENT Monthly Remittance Statement to the Certificateholders dated as of ~~October~~November 2725, 2003.

	Morgan Stanley ABS Capital I Inc. 2003-NC5
	Mortgage Pass-Through Certificates
	October 27, 2003 Distribution
	November 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				2223
			12.	Realized Loss Detail Report				2526
			13.	Triggers, Adj. Rate Cert. and Miscellaneous Report				2627
				Total Number of Pages				2627
			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: May 1, 2003
	Certificate Insurer(s):							Closing Date: May 29, 2003
								First Payment Date: June 25, 2003
	Servicer(s):		HomeQ Servicing Corp. Master Servicer
								Distribution Date: October 27, 2003
								Distribution Date: November 25, 2003
	Underwriter(s):		Morgan Stanley & Co. Inc					Record Date: ~~October~~November 24, 2003
								September 30, 2003
								October 31, 2003
						Page 1 of 26					© COPYRIGHT 2003 Deutsche Bank
						Page 1 of 27					© COPYRIGHT 2003 Deutsche Bank
	Morgan Stanley ABS Capital I Inc. 2003-NC5
	Mortgage Pass-Through Certificates
	REMIC II Series 2003-NC5
	Certificate Payment Report for October 27, 2003 Distribution
	Certificate Payment Report for November 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	502,341,000.00			~~471~~459,~~836~~273,~~476~~113.4307	~~662~~584,~~668~~552.1261	1219,~~563~~895,~~363~~867.3544	1320,~~226~~480,~~031~~420.4705	-	-	~~459~~439,~~273~~377,~~113~~245.0763
A-2	FLT, STEP	100,000,000.00			9391,~~995~~674,~~233~~258.9599	~~116~~103,~~971~~388.8519	23,~~320~~982,~~974~~339.9643	24,~~437~~085,~~946~~727.8162	-	-	9187,~~674~~691,~~258~~919.9956
A-3	FLT, STEP	211,716,000.00			~~199~~194,~~002~~089,~~949~~074.5116	~~260~~229,~~030~~833.5281	48,~~913~~431,~~875~~249.3576	58,~~173~~661,~~905~~083.8757	-	-	~~194~~185,~~089~~657,~~074~~824.1641
M-1	MEZ, FLT,ST	63,818,000.00			63,818,000.00	~~111~~101,~~752~~275.4162	-	~~111~~101,~~752~~275.4162	-	-	63,818,000.00
M-2	MEZ, FLT,ST	55,276,000.00			55,276,000.00	~~153~~138,~~298~~927.7701	-	~~153~~138,~~298~~927.7701	-	-	55,276,000.00
M-3	MEZ, FLT,ST	17,588,000.00			17,588,000.00	5348,~~467~~454.5294	-	5348,~~467~~454.5294	-	-	17,588,000.00
B-1	SUB, FLT,ST	13,065,000.00			13,065,000.00	5146,~~330~~518.9366	-	5146,~~330~~518.9366	-	-	13,065,000.00
B-2	SUB, FLT,ST	11,055,000.00			11,055,000.00	4743,~~855~~369.8738	-	4743,~~855~~369.8738	-	-	11,055,000.00
B-3	SUB, FLT,ST	12,563,000.00			12,563,000.00	5449,~~383~~285.8335	-	5449,~~383~~285.8335	-	-	12,563,000.00
X	SUB	17,586,872.00			17,587,764.5655	4,~~149~~195,~~247~~973.3202	~~0.01~~-	4,~~149~~195,~~247~~973.3302	-	-	17,587,764.55
P	SUB,EXE	-			-	~~360~~635,~~050~~019.0104	-	~~360~~635,~~050~~019.0104	-	-	-
UT-R	R	-			-	-	-	-	-	-	-
Total		1,005,008,872.00			~~955~~935,~~787~~989,~~424~~210.4578	6,~~021~~176,~~057~~597.1563	1932,~~798~~309,~~213~~456.6763	2538,~~819~~486,~~270~~054.8226	-	-	~~935~~903,~~989~~679,~~210~~754.7815
	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	0910/2527/03	1011/2624/03		A-Act/360	61746RAS0	502,341,000.00	~~939~~914.~~275266~~265634	1.~~319160~~163657	2539.~~009632~~606298	2640.~~328792~~769955	~~914~~874.~~265634~~659336
A-2	0910/2527/03	1011/2624/03		A-Act/360	61746RBB6	100,000,000.00	~~939~~916.~~952340~~742590	1.~~169719~~033882	2339.~~209750~~823394	2440.~~379468~~857276	~~916~~876.~~742590~~919196
A-3	0910/2527/03	1011/2624/03		A-Act/360	61746RBJ9	211,716,000.00	~~939~~916.~~952340~~742590	1.~~228204~~085576	2339.~~209750~~823394	2440.~~437954~~908970	~~916~~876.~~742590~~919196
M-1	0910/2527/03	1011/2624/03		A-Act/360	61746RBC4	63,818,000.00	1,000.000000	1.~~751111~~586944	-	1.~~751111~~586944	1,000.000000
M-2	0910/2527/03	1011/2624/03		A-Act/360	61746RBD2	55,276,000.00	1,000.000000	2.~~773333~~513333	-	2.~~773333~~513333	1,000.000000
M-3	0910/2527/03	1011/2624/03		A-Act/360	61746RBE0	17,588,000.00	1,000.000000	32.~~040000~~755000	-	32.~~040000~~755000	1,000.000000
B-1	0910/2527/03	1011/2624/03		A-Act/360	61746RBF7	13,065,000.00	1,000.000000	3.~~928889~~560556	-	3.~~928889~~560556	1,000.000000
B-2	0910/2527/03	1011/2624/03		A-Act/360	61746RBG5	11,055,000.00	1,000.000000	43.~~328889~~923056	-	43.~~328889~~923056	1,000.000000
B-3	0910/2527/03	1011/2624/03		A-Act/360	61746RBH3	12,563,000.00	1,000.000000	43.~~328889~~923056	-	43.~~328889~~923056	1,000.000000
X	0910/2527/03	1011/2624/03		A-Act/360		17,586,872.00	1,000.050751	~~235~~238.~~928670~~585521	~~0.000001~~-	~~235~~238.~~928671~~585521	1,000.050751
P	0910/2527/03	1011/2624/03		-		-	-	-	-	-	-
UT-R	0910/2527/03	1011/2624/03		-		-	-	-	-	-	-
							Page 2 of 26				© COPYRIGHT 2003 Deutsche Bank
							Page 2 of 27				© COPYRIGHT 2003 Deutsche Bank
	Morgan Stanley ABS Capital I Inc. 2003-NC5
	Mortgage Pass-Through Certificates
	REMIC II Series 2003-NC5
	Certificate Payment Report for October 27, 2003 Distribution
	Certificate Payment Report for November 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	502,341,000.00		3,~~268~~852,~~262~~815.5617		4060,~~672~~111,~~935~~100.4509	2,~~394~~852,~~951~~654.4728	4362,~~067~~963,~~886~~754.9337	4666,~~336~~816,~~149~~569.4954	-	-	~~459~~439,~~273~~377,~~113~~245.0763
A-2	100,000,000.00		~~577~~680,~~242~~630.1534		711,~~847~~738,~~342~~068.5357	~~478~~570,~~398~~011.4888	812,~~325~~308,~~741~~080.0144	812,~~902~~988,~~983~~710.1678	-	-	9187,~~674~~691,~~258~~919.9956
A-3	211,716,000.00		1,~~282~~512,~~641~~475.6041		1624,~~614~~851,~~079~~369.7025	1,~~012~~206,~~846~~806.1334	1726,~~626~~058,~~925~~175.8459	1827,~~909~~570,~~567~~651.4400	-	-	~~194~~185,~~089~~657,~~074~~824.1641
M-1	63,818,000.00		~~530~~632,~~735~~010.3193		-0.00	-	-	~~530~~632,~~735~~010.3193	-	-	63,818,000.00
M-2	55,276,000.00		~~726~~865,~~326~~253.6465		-	-	-	~~726~~865,~~326~~253.6465	-	-	55,276,000.00
M-3	17,588,000.00		~~253~~301,~~237~~692.8983		-	-	-	~~253~~301,~~237~~692.8983	-	-	17,588,000.00
B-1	13,065,000.00		~~242~~289,~~914~~433.6430		-	-	-	~~242~~289,~~914~~433.6430	-	-	13,065,000.00
B-2	11,055,000.00		~~226~~269,~~409~~778.4886		-	-	-	~~226~~269,~~409~~778.4886	-	-	11,055,000.00
B-3	12,563,000.00		~~257~~306,~~293~~579.7308		-	-	-	~~257~~306,~~293~~579.7308	-	-	12,563,000.00
X	17,586,872.00		2125,~~771~~967,~~173~~146.5962		4,633.63	719.62	5,353.25	2125,~~776~~972,~~526~~499.8487	-	6,245.80	17,587,764.55
P	-		~~974~~1,~~875~~609,894.5054		-	-	-	~~974~~1,~~875~~609,894.5054	-	-	-
UT-R	-		-		-	-	-	-	-	-	-
Total	1,005,008,872.00		3036,~~111~~287,~~113~~710.0973		6596,~~138~~705,~~991~~171.3153	34,~~886~~630,~~915~~192.7112	69101,~~025~~335,~~907~~363.0265	~~99,~~137,~~020~~623,074.1138	-	6,245.80	~~935~~903,~~989~~679,~~210~~754.7815
	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	1.58000%	~~471~~459,~~836~~273,~~476~~113.4307			~~662~~584,~~668~~552.1261	-	-	-	~~662~~584,~~668~~552.1261	~~662~~584,~~668~~552.1261	-
A-2	1.40000%	9391,~~995~~674,~~233~~258.9599			~~116~~103,~~971~~388.8519	-	-	-	~~116~~103,~~971~~388.8519	~~116~~103,~~971~~388.8519	-
A-3	1.47000%	~~199~~194,~~002~~089,~~949~~074.5116			~~260~~229,~~030~~833.5281	-	-	-	~~260~~229,~~030~~833.5281	~~260~~229,~~030~~833.5281	-
M-1	1.97000%	63,818,000.00			~~111~~101,~~752~~275.4162	-	-	-	~~111~~101,~~752~~275.4162	~~111~~101,~~752~~275.4162	-
M-2	3.12000%	55,276,000.00			~~153~~138,~~298~~927.7701	-	-	-	~~153~~138,~~298~~927.7701	~~153~~138,~~298~~927.7701	-
M-3	3.42000%	17,588,000.00			5348,~~467~~454.5294	-	-	-	5348,~~467~~454.5294	5348,~~467~~454.5294	-
B-1	4.42000%	13,065,000.00			5146,~~330~~518.9366	-	-	-	5146,~~330~~518.9366	5146,~~330~~518.9366	-
B-2	4.87000%	11,055,000.00			4743,~~855~~369.8738	-	-	-	4743,~~855~~369.8738	4743,~~855~~369.8738	-
B-3	4.87000%	12,563,000.00			5449,~~383~~285.8335	-	-	-	5449,~~383~~285.8335	5449,~~383~~285.8335	-
X		17,587,764.5655			4,~~149~~195,~~247~~973.3202	-	-	-	4,~~149~~195,~~247~~973.3202	4,~~149~~195,~~247~~973.3202	-
P		-			-	-	-	-	-	~~360~~635,~~050~~019.0104	-
UT-R		-			~~360~~635,~~050~~019.0104	-	-	-	~~360~~635,~~050~~019.0104	-	-
Total		~~955~~935,~~787~~989,~~424~~210.4578			6,~~021~~176,~~057~~597.1563	-	-	-	6,~~021~~176,~~057~~597.1563	6,~~021~~176,~~057~~597.1563	-
							Page 3 of 26				© COPYRIGHT 2003 Deutsche Bank
							Page 3 of 27				© COPYRIGHT 2003 Deutsche Bank
	Morgan Stanley ABS Capital I Inc. 2003-NC5
	Mortgage Pass-Through Certificates
	Collection Account Report for October 27, 2003 Distribution
	Collection Account Report for November 25, 2003 Distribution
	Collection Account Report
SUMMARY						GROUP 2	GROUP 1	TOTAL
	Principal Collections					712,~~234~~413,~~850~~589.3119	1219,~~563~~895,~~363~~867.3644	1932,~~798~~309,~~213~~456.6763
	Principal Other Accounts					0.00	0.00	0.00
	TOTAL NET PRINCIPAL					712,~~234~~413,~~850~~589.3119	1219,~~563~~895,~~363~~867.3644	1932,~~798~~309,~~213~~456.6763
	Interest Collections					2,~~255~~198,~~651~~607.3317	3,~~551~~467,~~195~~277.0229	5,~~806~~665,~~846~~884.3546
	Interest Withdrawals					0.00	0.00	0.00
	Interest Other Accounts					0.00	0.00	0.00
	Interest Fees					(7978,~~018~~932.4486)	(~~129~~131,~~018~~973.5791)	(~~208~~210,~~037~~906.0177)
	TOTAL NET INTEREST					2,~~199~~155,~~605~~391.6099	3,~~466~~391,~~884~~534.6027	5,~~666~~546,~~490~~926.2026
	TOTAL PRINCIPAL & INTEREST DISTRIBUTABLE					914,~~434~~568,~~455~~981.9118	1623,~~030~~287,~~247~~401.9671	2537,~~464~~856,~~703~~382.8789
	Prepayment Penalties Collected							~~360~~635,~~050~~019.0104
	TOTAL AVAILABLE FUNDS FOR DISTRIBUTION							2538,~~819~~486,~~270~~054.8226
PRINCIPAL - COLLECTIONS						GROUP 2	GROUP 1	TOTAL
	Scheduled Principal Received					~~299~~292,~~555~~043.8146	~~462~~451,~~974~~232.5895	~~762~~743,~~530~~276.3941
	Prepayments In Full					612,~~911~~099,~~284~~959.4914	1219,~~080~~268,~~541~~457.8262	1831,~~991~~368,~~826~~416.3176
	Curtailments					2421,~~010~~586.0159	19176,~~846~~176.9687	43197,~~856~~763.9746
	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					(~~145~~140,~~408~~601.3018)	(~~219~~205,~~501~~614.4638)	(~~364~~346,~~909~~215.7656)
	Advanced Principal					~~145~~140,~~408~~601.3018	~~219~~205,~~501~~614.4638	~~364~~346,~~909~~215.7656
	TOTAL PRINCIPAL COLLECTED					712,~~234~~413,~~850~~589.3119	1219,~~563~~895,~~363~~867.3644	1932,~~798~~309,~~213~~456.6763
				Page 4 of 26				© COPYRIGHT 2003 Deutsche Bank
				Page 4 of 27				© COPYRIGHT 2003 Deutsche Bank
	Morgan Stanley ABS Capital I Inc. 2003-NC5
	Mortgage Pass-Through Certificates
	Collection Account Report for October 27, 2003 Distribution
	Collection Account Report for November 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,~~353~~306,~~506~~251.8963	3,~~714~~634,~~791~~159.7759	65,~~068~~940,~~298~~411.6622
	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					(2235,~~972~~717.7168)	(4456,~~708~~230.1589)	(6791,~~680~~948.8657)
	Delinquent Interest					(1,~~171~~123,~~686~~377.6735)	(1,~~842~~716,~~099~~961.9265)	(32,~~013~~840,~~786~~339.5900)
	Interest Advanced					1,~~096~~051,~~803~~450.8257	1,~~723~~606,~~211~~310.3224	2,~~820~~657,~~015~~760.1481
	TOTAL INTEREST COLLECTED					2,~~255~~198,~~651~~607.3317	3,~~551~~467,~~195~~277.0229	5,~~806~~665,~~846~~884.3546
				Page 5 of 26				© COPYRIGHT 2003 Deutsche Bank
				Page 5 of 27				© COPYRIGHT 2003 Deutsche Bank
	Morgan Stanley ABS Capital I Inc. 2003-NC5
	Mortgage Pass-Through Certificates
	Collection Account Report for October 27, 2003 Distribution
	Collection Account Report for November 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					77,~~645~~587.5005	~~126~~129,~~807~~809.3176	~~204~~207,~~452~~396.81
	Trustee Fees					1,~~372~~345.9481	2,~~211~~164.2615	3,~~584~~509.2096
	TOTAL INTEREST OTHER FEES					7978,~~018~~932.4486	~~129~~131,~~018~~973.5791	~~208~~210,~~037~~906.0177
				Page 6 of 26				© COPYRIGHT 2003 Deutsche Bank
				Page 6 of 27				© COPYRIGHT 2003 Deutsche Bank
	Morgan Stanley ABS Capital I Inc. 2003-NC5
	Mortgage Pass-Through Certificates
	Credit Enhancement Report for October 27, 2003 Distribution
	Credit Enhancement Report for November 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							17,587,764.57
	Ending Subordinated Amount							17,587,764.5657
	Specified Subordinated Amount							17,587,764.56
	Senior Enhancement Percentage							2021.4013%
				Page 7 of 26				© COPYRIGHT 2003 Deutsche Bank
				Page 7 of 27				© COPYRIGHT 2003 Deutsche Bank
	Morgan Stanley ABS Capital I Inc. 2003-NC5
	Mortgage Pass-Through Certificates
	Collateral Report for October 27, 2003 Distribution
	Collateral Report for November 25, 2003 Distribution
	Collateral Report
COLLATERAL						GROUP 2	GROUP 1	TOTAL
	Loan Count:
	Original					2121	4056	6177
	Prior					2,~~040~~000	3,~~901~~831	5,~~941~~831
	Prefunding					-	-	-
	Scheduled Paid Offs					-	-	-
	Full Voluntary Prepayments					(4048)	(70108)	(~~110~~156)
	Repurchases					-	-	-
	Liquidations					-	-	-
	Current					21,~~000~~952	3,~~831~~723	5,~~831~~675
	Principal Balance:
	Original					384,837,481.08	620,177,636.72	1,005,015,117.80
	Prior					~~366~~358,~~117~~882,~~247~~396.0473	~~589~~577,~~670~~106,~~177~~814.4106	~~955~~935,~~787~~989,~~424~~210.4579
	Prefunding					-	-	-
	Scheduled Principal					(~~299~~292,~~555~~043.8146)	(~~462~~451,~~974~~232.5895)	(~~762~~743,~~530~~276.3941)
	Partial and Full Voluntary Prepayments					(612,~~935~~121,~~294~~545.5073)	(1219,~~100~~444,~~388~~634.7849)	(1931,~~035~~566,~~683~~180.2822)
	Repurchases					-	-	-
	Liquidations					-	-	-
	Current					~~358~~346,~~882~~468,~~396~~807.7355	~~577~~557,~~106~~210,~~814~~946.0662	~~935~~903,~~989~~679,~~210~~754.7917
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 26				© COPYRIGHT 2003 Deutsche Bank
				Page 8 of 27				© COPYRIGHT 2003 Deutsche Bank
	Morgan Stanley ABS Capital I Inc. 2003-NC5
	Mortgage Pass-Through Certificates
	Collateral Report for October 27, 2003 Distribution
	Collateral Report for November 25, 2003 Distribution
	Collateral Report
CHARACTERISTICS						GROUP 2	GROUP 1	TOTAL
	Weighted Average Coupon Original					7.704417%	7.554364%	7.611822%
	Weighted Average Coupon Prior					7.~~709252~~713945%	7.~~558082~~559735%	7.~~616048~~618805%
	Weighted Average Coupon Current					7.~~713945~~711445%	7.~~559735~~556645%	7.~~618805~~616000%
	Weighted Average Months to Maturity Original					348	354	352
	Weighted Average Months to Maturity Prior					~~345~~344	~~351~~350	~~349~~348
	Weighted Average Months to Maturity Current					~~344~~342	~~350~~349	~~348~~346
	Weighted Avg Remaining Amortization Term Original					347	354	351
	Weighted Avg Remaining Amortization Term Prior					~~344~~343	~~351~~350	~~348~~347
	Weighted Avg Remaining Amortization Term Current					~~343~~342	~~350~~349	~~347~~346
	Weighted Average Seasoning Original					3.41	3.31	3.35
	Weighted Average Seasoning Prior					67.4142	67.31	67.35
	Weighted Average Seasoning Current					78.4240	78.31	78.35
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 26				© COPYRIGHT 2003 Deutsche Bank
				Page 9 of 27				© COPYRIGHT 2003 Deutsche Bank
	Morgan Stanley ABS Capital I Inc. 2003-NC5
	Mortgage Pass-Through Certificates
	Collateral Report for October 27, 2003 Distribution
	Collateral Report for November 25, 2003 Distribution
	Collateral Report
ARM CHARACTERISTICS						GROUP 2	GROUP 1	TOTAL
	Weighted Average Margin Original					3.397%	5.345%
	Weighted Average Margin Prior					3.~~414~~405%	5.~~341~~348%
	Weighted Average Margin Current					3.~~405~~411%	5.~~348~~339%
	Weighted Average Max Rate Original					7.893%	12.450%
	Weighted Average Max Rate Prior					7.~~925~~899%	12.~~445~~458%
	Weighted Average Max Rate Current					7.~~899~~912%	12.~~458~~438%
	Weighted Average Min Rate Original					4.042%	6.502%
	Weighted Average Min Rate Prior					4.~~063~~051%	6.~~500~~507%
	Weighted Average Min Rate Current					4.~~051~~058%	6.~~507~~496%
	Weighted Average Cap Up Original					0.852%	1.285%
	Weighted Average Cap Up Prior					0.~~850~~846%	1.~~285~~286%
	Weighted Average Cap Up Current					0.~~846~~848%	1.~~286~~284%
	Weighted Average Cap Down Original					0.852%	1.285%
	Weighted Average Cap Down Prior					0.~~850~~846%	1.~~285~~286%
	Weighted Average Cap Down Current					0.~~846~~848%	1.~~286~~284%
Note: Original information refers to deal issue.
SERVICING FEES / ADVANCES						GROUP 2	GROUP 1	TOTAL
	Current Servicing Fees					77,~~645~~587.5005	~~126~~129,~~807~~809.3176	~~204~~207,~~452~~396.81
	Delinquent Servicing Fees					7471,~~882~~926.8578	~~118~~110,~~888~~651.5941	~~193~~182,~~771~~578.4419
	TOTAL SERVICING FEES					~~152~~149,~~528~~513.3583	~~245~~240,~~695~~461.9017	~~398~~389,~~224~~975.2500
	Prepayment Interest Shortfall					2235,~~972~~717.7168	4456,~~708~~230.1589	6791,~~680~~948.8657
	Compensating Interest					(2235,~~972~~717.7168)	(4456,~~708~~230.1589)	(6791,~~680~~948.8657)
	Delinquent Servicing Fees					(7471,~~882~~926.8578)	(~~118~~110,~~888~~651.5941)	(~~193~~182,~~771~~578.4419)
	COLLECTED SERVICING FEES					77,~~645~~587.5005	~~126~~129,~~807~~809.3176	~~204~~207,~~452~~396.81
	Aggregate Advances with respect to this Distribution					1,~~242~~192,~~212~~051.1275	1,~~942~~811,~~712~~924.7862	3,~~184~~003,~~924~~976.9037
	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					(2235,~~972~~717.7168)	(4456,~~708~~230.1589)	0.00
	Net Monthly Excess Cash Flow							4,~~149~~195,~~247~~973.3202
	Ending Pool Stated Principal Balance					~~358~~346,~~882~~468,~~396~~807.7355	~~577~~557,~~106~~210,~~814~~946.0662	~~935~~903,~~989~~679,~~210~~754.7917
				Page 10 of 26				© COPYRIGHT 2003 Deutsche Bank
				Page 10 of 27				© COPYRIGHT 2003 Deutsche Bank
	Morgan Stanley ABS Capital I Inc. 2003-NC5
	Mortgage Pass-Through Certificates
	Delinquency Report for October 27, 2003 Distribution
	Delinquency Report for November 25, 2003 Distribution
	Delinquency Report - Total
				<1 PAYMENT	1 PAYMENT	2 PAYMENTS	3+ PAYMENTS	TOTAL
DELINQUENT		Balance			1113,~~586~~026,~~620~~435.0580	2,~~519~~496,~~855~~763.2450	1,~~031~~240,~~215~~212.9269	1516,~~137~~763,~~691~~411.2199
		% Balance			1.2444%	0.2728%	0.1114%	1.6286%
		# Loans			7274	1721	47	93102
		% # Loans			1.2330%	0.2937%	0.0712%	1.5980%
FORECLOSURE		Balance		~~342~~297,~~141~~892.1347	~~568~~525,~~175~~277.15	23,~~668~~025,~~265~~683.7428	68,~~954~~037,~~002~~590.0473	1011,~~532~~886,~~584~~443.0663
		% Balance		0.0403%	0.06%	0.2933%	0.7489%	1.1332%
		# Loans		31	5	1618	4452	6876
		% # Loans		0.0502%	0.09%	0.2732%	0.7592%	1.1734%
BANKRUPTCY		Balance		3,~~312~~265,~~550~~367.3187	36359,~~491~~597.8211	9336,~~159~~479.3208	~~313~~652,~~411~~896.7506	34,~~755~~314,~~613~~340.2012
		% Balance		0.3536%	0.0004%	0.0100%	0.0307%	0.4048%
		# Loans		2627	13	1	47	3238
		% # Loans		0.4548%	0.0205%	0.02%	0.0712%	0.5567%
REO		Balance		-	-	-	51106,~~966~~852.8837	51106,~~966~~852.8837
		% Balance		0.00%	0.00%	0.00%	0.01%	0.01%
		# Loans		-	-	-	12	12
		% # Loans		0.00%	0.00%	0.00%	0.0204%	0.0204%
TOTAL		Balance		3,~~654~~563,~~691~~260.4434	1213,~~191~~911,~~287~~310.0206	5,~~281~~558,~~280~~925.3086	810,~~350~~037,~~596~~551.5985	2933,~~477~~071,~~855~~048.3511
		% Balance		0.39%	1.3054%	0.5662%	01.8911%	3.1566%
		# Loans		2928	7882	3440	5368	~~194~~218
		% # Loans		0.5049%	1.3444%	0.5870%	01.9120%	3.3384%
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 26				© COPYRIGHT 2003 Deutsche Bank
				Page 11 of 27				© COPYRIGHT 2003 Deutsche Bank
	Morgan Stanley ABS Capital I Inc. 2003-NC5
	Mortgage Pass-Through Certificates
	Delinquency Report for October 27, 2003 Distribution
	Delinquency Report for November 25, 2003 Distribution
	Delinquency Report - Group 1 Group
				<1 PAYMENT	1 PAYMENT	2 PAYMENTS	3+ PAYMENTS	TOTAL
DELINQUENT		Balance			68,~~776~~001,~~096~~329.8961	1,~~706~~557,~~528~~903.5877	~~534~~427,~~686~~901.6925	9,~~017~~987,~~312~~134.1663
		% Balance			1.1744%	0.3028%	0.0908%	1.5679%
		# Loans			5355	1014	3	6672
		% # Loans			1.3848%	0.2638%	0.08%	1.7293%
FORECLOSURE		Balance		~~342~~297,~~141~~892.1347	~~568~~525,~~175~~277.15	1,~~724~~951,~~228~~789.4046	45,~~784~~291,~~647~~441.6329	78,~~419~~066,~~192~~400.3137
		% Balance		0.0605%	0.1009%	0.3035%	0.8395%	1.2945%
		# Loans		31	5	1314	3239	5359
		% # Loans		0.0803%	0.13%	0.3438%	01.8405%	1.3858%
BANKRUPTCY		Balance		2,~~440~~150,~~164~~889.9985	36293,~~491~~465.8278	9336,~~159~~479.3208	~~231~~570,~~344~~891.1782	23,~~801~~051,~~160~~726.3053
		% Balance		0.4239%	0.0105%	0.0201%	0.0410%	0.4955%
		# Loans		1918	12	1	36	2427
		% # Loans		0.5048%	0.0305%	0.03%	0.0816%	0.6373%
REO		Balance		-	-	-	51,~~966~~932.8864	51,~~966~~932.8864
		% Balance		0.00%	0.00%	0.00%	0.01%	0.01%
		# Loans		-	-	-	1	1
		% # Loans		0.00%	0.00%	0.00%	0.03%	0.03%
TOTAL		Balance		2,~~782~~448,~~306~~782.1232	78,~~380~~820,~~763~~072.8654	3,~~523~~546,~~916~~172.3031	56,~~602~~342,~~645~~167.3700	1921,~~289~~157,~~631~~194.6517
		% Balance		0.4844%	1.2858%	0.6164%	01.9714%	3.3480%
		# Loans		2219	5962	2429	3949	~~144~~159
		% # Loans		0.5751%	1.5467%	0.6378%	1.0232%	34.7627%
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 26				© COPYRIGHT 2003 Deutsche Bank
				Page 12 of 27				© COPYRIGHT 2003 Deutsche Bank
	Morgan Stanley ABS Capital I Inc. 2003-NC5
	Mortgage Pass-Through Certificates
	Delinquency Report for October 27, 2003 Distribution
	Delinquency Report for November 25, 2003 Distribution
	Delinquency Report - Group 2 Group
				<1 PAYMENT	1 PAYMENT	2 PAYMENTS	3+ PAYMENTS	TOTAL
DELINQUENT		Balance			45,~~810~~025,~~523~~106.1619	~~813~~938,~~326~~859.6673	~~496~~812,~~529~~311.2344	6,~~120~~776,~~379~~277.0536
		% Balance			1.3445%	0.2327%	0.1423%	1.7196%
		# Loans			19	7	14	2730
		% # Loans			0.9597%	0.3536%	0.0520%	1.3554%
FORECLOSURE		Balance		-	-	~~944~~1,~~037~~073,893.3482	2,~~169~~746,~~354~~149.4144	3,~~113~~820,~~391~~043.7526
		% Balance		0.00%	0.00%	0.2631%	0.6079%	01.8710%
		# Loans		-	-	34	1213	1517
		% # Loans		0.00%	0.00%	0.1520%	0.6067%	0.7587%
BANKRUPTCY		Balance		~~872~~1,~~385~~114,478.3202	-66,131.33	-	82,~~067~~004.5824	~~954~~1,~~452~~262,613.9059
		% Balance		0.2432%	0.0002%	0.00%	0.02%	0.2736%
		# Loans		79	-1	-	1	811
		% # Loans		0.3546%	0.0005%	0.00%	0.05%	0.4056%
REO		Balance		-	-	-	-54,919.73	-54,919.73
		% Balance		0.00%	0.00%	0.00%	0.0002%	0.0002%
		# Loans		-	-	-	-1	-1
		% # Loans		0.00%	0.00%	0.00%	0.0005%	0.0005%
TOTAL		Balance		~~872~~1,~~385~~114,478.3202	45,~~810~~091,~~523~~237.1652	12,~~757~~012,~~364~~753.0055	23,~~747~~695,~~951~~384.2285	1011,~~188~~913,~~223~~853.7094
		% Balance		0.2432%	1.3447%	0.4958%	01.7707%	23.8444%
		# Loans		79	1920	1011	1419	5059
		% # Loans		0.3546%	01.9502%	0.5056%	0.7097%	23.5002%
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 26				© COPYRIGHT 2003 Deutsche Bank
				Page 13 of 27				© COPYRIGHT 2003 Deutsche Bank
	Morgan Stanley ABS Capital I Inc. 2003-NC5
	Mortgage Pass-Through Certificates
	REO Report for October 27, 2003 Distribution
	REO Report for November 25, 2003 Distribution
	REO Report - Mortgage Loans that Become REO During Current Distribution
SUMMARY				LOAN GROUP
Total Loan Count = 1				Loan Group 1 = Group 1 Group; REO Book Value = Not Available
Total Original Principal Balance = 52,200.00				Loan Group 2 = Group 2 Group; REO Book Value = Not Available
Total Original Principal Balance = 55,200.00				Loan Group 2 = Group 2 Group; REO Book Value = Not Available
Total Current Balance = 51,966.88
Total Current Balance = 54,919.73
REO Book Value = Not Available
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
320121247 1		52,200.00	51,966.88	May-01-03	8.350%	AR - 90.00%	360	Feb-05-03
320101199 2		55,200.00	54,919.73	May-01-03	8.990%	CO - 80.00%	360	Jan-31-03
				Page 14 of 26				© COPYRIGHT 2003 Deutsche Bank
				Page 14 of 27				© COPYRIGHT 2003 Deutsche Bank
	Morgan Stanley ABS Capital I Inc. 2003-NC5
	Mortgage Pass-Through Certificates
	Foreclosure Report for October 27, 2003 Distribution
	Foreclosure Report for November 25, 2003 Distribution
	Foreclosure Report - Mortgage Loans that Become Foreclosure During Current Distribution
SUMMARY				LOAN GROUP
Total Loan Count = 40				Loan Group 1 = Group 1 Group
Total Loan Count = 29				Loan Group 1 = Group 1 Group
Total Original Principal Balance = 5,900,152.00				Loan Group 2 = Group 2 Group
Total Original Principal Balance = 4,544,115.00				Loan Group 2 = Group 2 Group
Total Current Balance = 5,871,117.43
Total Current Balance = 4,520,550.59
Loan Number		Original	Stated		Current	State &
&		Principal	Principal	Paid to	Note	LTV at	Original	Origination
Loan Group		Balance	Balance	Date	Rate	Origination	Term	Date
320093354 1		108,000.00	106,689.56	Jun-01-03	9.250%	CA - 72.48%	360	Feb-21-03
320090467 1		208,000.00	206,538.76	Jul-01-03	6.750%	FL - 80.00%	360	Feb-07-03
320094386 1		100,000.00	99,329.33	Jul-01-03	6.990%	FL - 74.63%	360	Jan-30-03
320091705 1		196,000.00	194,765.21	Jul-01-03	8.500%	CA - 80.00%	360	Jan-31-03
320098114 1		252,000.00	250,755.62	May-01-03	7.850%	CA - 80.00%	360	Feb-14-03
320096886 1		74,400.00	74,065.39	Jul-01-03	8.990%	MO - 80.00%	360	Feb-24-03
320100324 1		299,700.00	297,946.57	May-01-03	6.990%	MA - 90.00%	360	Feb-11-03
320103948 1		244,000.00	242,787.73	Jul-01-03	8.500%	CA - 80.00%	360	Feb-14-03
320104029 1		105,600.00	105,197.77	May-01-03	9.790%	MI - 80.00%	360	Feb-04-03
320107428 1		91,200.00	90,661.92	Jun-01-03	8.250%	TX - 80.00%	360	Feb-04-03
320105091 1		136,000.00	135,388.61	Jul-01-03	8.990%	IL - 85.00%	360	Feb-04-03
320111362 1		292,000.00	290,138.65	Jul-01-03	7.250%	CA - 80.00%	360	Feb-27-03
320105240 1		68,800.00	68,490.67	Jun-01-03	8.990%	WA - 80.00%	360	Feb-06-03
320113061 1		151,300.00	150,489.20	Jun-01-03	8.125%	OH - 85.00%	360	Feb-11-03
320108517 1		217,800.00	216,866.06	Jun-01-03	8.550%	CO - 90.00%	360	Feb-28-03
320114895 1		104,000.00	103,664.97	Jun-01-03	12.000%	CA - 65.00%	360	Jan-31-03
320109499 1		292,000.00	289,677.57	May-01-03	6.100%	NC - 80.00%	360	Jan-31-03
320115157 1		125,000.00	124,492.31	Jul-01-03	9.500%	CA - 77.64%	360	Feb-24-03
320110703 1		58,650.00	58,345.57	Jul-01-03	7.600%	FL - 85.00%	360	Feb-12-03
320126352 1		140,625.00	140,005.68	Jul-01-03	9.600%	DC - 75.00%	360	Feb-11-03
320111388 1		195,500.00	194,810.68	Jul-01-03	9.500%	IL - 85.00%	360	Feb-20-03
320128903 1		80,800.00	80,406.62	Jul-01-03	8.600%	AR - 80.00%	360	Feb-07-03
320112899 1		306,577.00	305,314.92	Jun-01-03	8.750%	CA - 80.00%	360	Feb-19-03
320132277 1		65,400.00	65,154.02	Aug-01-03	9.850%	NC - 84.94%	360	Feb-11-03
320113483 1		108,750.00	108,208.64	May-01-03	8.490%	AZ - 75.00%	360	Feb-26-03
320132863 1		212,500.00	211,638.44	May-01-03	9.490%	MI - 85.00%	360	Feb-26-03
320113566 1		66,400.00	66,097.95	May-01-03	8.990%	TX - 80.00%	360	Jan-23-03
320133911 1		49,300.00	49,023.04	Jul-01-03	7.890%	KY - 85.00%	360	Feb-18-03
320114549 1		112,000.00	111,481.81	Jun-01-03	8.850%	NJ - 80.00%	360	Feb-04-03
320134018 1		111,600.00	110,935.99	May-01-03	7.600%	OR - 90.00%	360	Feb-19-03
320115520 1		148,800.00	148,097.31	May-01-03	8.750%	CA - 80.00%	360	Feb-11-03
320136948 1		109,650.00	109,075.78	Jun-01-03	8.240%	FL - 85.00%	360	Feb-28-03
320116627 1		97,000.00	96,455.16	Oct-01-03	7.890%	IN - 82.91%	360	Feb-05-03
320138233 1		206,125.00	205,100.87	Aug-01-03	8.500%	CA - 85.00%	360	Feb-19-03
320119035 1		112,500.00	112,022.44	Jun-01-03	8.600%	MN - 64.29%	360	Feb-11-03
320139041 1		164,000.00	163,160.04	May-01-03	8.350%	MN - 80.00%	360	Feb-18-03
320119324 1		86,400.00	85,875.60	May-01-03	7.500%	FL - 80.00%	360	Feb-06-03
320140163 1		73,500.00	73,053.90	Aug-01-03	7.500%	CO - 75.00%	360	Feb-14-03
320120587 1		153,000.00	152,337.22	May-01-03	8.500%	WA - 85.00%	360	Feb-18-03
320140759 1		98,800.00	98,319.00	Aug-01-03	8.600%	MN - 80.00%	360	Feb-18-03
320124027 1		57,000.00	56,726.30	Jun-01-03	7.990%	MI - 31.84%	360	Feb-12-03
320144041 1		50,000.00	49,759.40	Jul-01-03	10.350%	WA - 55.56%	360	Feb-19-03
320129612 1		157,500.00	156,624.18	May-01-03	7.250%	CO - 75.00%	360	Feb-13-03
320148356 1		90,000.00	89,552.78	Jul-01-03	8.500%	NE - 90.00%	360	Feb-26-03
320130305 1		156,000.00	155,088.29	Jun-01-03	7.000%	CA - 82.54%	360	Feb-18-03
320148653 1		84,000.00	83,649.36	Aug-01-03	9.350%	TN - 80.00%	360	Feb-13-03
320130883 1		97,750.00	97,412.42	May-01-03	9.600%	IN - 85.00%	360	Feb-11-03
320091671 2		75,500.00	75,059.00	Jul-01-03	8.300%	TX - 45.21%	360	Jan-31-03
320133333 1		110,400.00	109,945.52	Jun-01-03	8.750%	WA - 80.00%	360	Feb-18-03
320092877 2		184,500.00	182,790.81	Jul-01-03	6.500%	CA - 90.00%	360	Jan-31-03
320135353 1		175,000.00	174,618.44	Jun-01-03	11.750%	TX - 70.00%	360	Feb-21-03
320122419 2		452,000.00	450,106.93	Jul-01-03	9.350%	MA - 80.00%	360	Feb-10-03
320137417 1		111,200.00	110,773.94	Jun-01-03	9.100%	WI - 80.00%	360	Feb-13-03
320136021 2		68,000.00	67,694.26	Jun-01-03	8.990%	FL - 85.00%	360	Feb-11-03
320139140 1		129,500.00	128,909.82	Oct-01-03	8.250%	CO - 70.00%	360	Feb-20-03
320146699 2		373,915.00	372,523.46	Jun-01-03	9.900%	MS - 85.00%	360	Feb-24-03
320140189 1		109,200.00	108,592.63	Jun-01-03	7.250%	CO - 65.00%	360	Feb-18-03
320149776 2		368,000.00	365,937.08	Jul-01-03	7.900%	NY - 80.00%	360	Feb-28-03
320140429 1		84,150.00	83,856.30	May-01-03	9.550%	IL - 85.00%	360	Feb-25-03
				Page 15 of 27				© COPYRIGHT 2003 Deutsche Bank
320141831 1		88,000.00	87,617.82	Jun-01-03	8.990%	FL - 80.00%	360	Feb-13-03
320144447 1		80,750.00	80,300.96	Jul-01-03	7.250%	TN - 85.00%	360	Feb-21-03
320148885 1		96,000.00	95,623.78	May-01-03	8.990%	TX - 80.00%	360	Feb-28-03
320152325 1		198,475.00	197,745.41	May-01-03	9.300%	FL - 85.00%	360	Feb-24-03
320093941 2		120,000.00	119,403.79	May-01-03	8.500%	NM - 71.64%	360	Jan-06-03
320108400 2		101,700.00	101,258.77	May-01-03	8.500%	CO - 90.00%	360	Feb-10-03
320116387 2		53,550.00	53,192.66	May-01-03	8.350%	PA - 85.00%	360	Feb-07-03
320132095 2		450,000.00	448,150.32	Jun-01-03	8.990%	CA - 56.25%	360	Feb-19-03
320147622 2		31,000.00	30,741.97	Jun-01-03	10.990%	CA - 20.00%	240	Feb-27-03
320151012 2		467,500.00	465,145.05	Jun-01-03	7.750%	NY - 85.00%	360	Feb-28-03
				Page 15 of 26				© COPYRIGHT 2003 Deutsche Bank
	Morgan Stanley ABS Capital I Inc. 2003-NC5
	Mortgage Pass-Through Certificates
	Prepayment Report for October 27, 2003 Distribution
	Prepayment Report for November 25, 2003 Distribution
	Prepayment Report - Voluntary Prepayments
VOLUNTARY PREPAYMENTS						GROUP 2	GROUP 1	TOTAL
	Current
	Number of Paid in Full Loans					4048	70108	~~110~~156
	Number of Repurchased Loans					-	-	-
	Total Number of Loans Prepaid in Full					4048	70108	~~110~~156
	Paid in Full Balance					612,~~911~~099,~~284~~959.4914	1219,~~080~~268,~~541~~457.8262	1831,~~991~~368,~~826~~416.3176
	Repurchased Loans Balance					-	-	-
	Curtailments Amount					2421,~~010~~586.0159	19176,~~846~~176.9687	43197,~~856~~763.9746
	Total Prepayment Amount					612,~~935~~121,~~294~~545.5073	1219,~~100~~444,~~388~~634.7849	1931,~~035~~566,~~683~~180.2822
	Cumulative
	Number of Paid in Full Loans					~~121~~169	~~225~~333	~~346~~502
	Number of Repurchased Loans					-	-	-
	Total Number of Loans Prepaid in Full					~~121~~169	~~225~~333	~~346~~502
	Paid in Full Balance					2436,~~144~~244,~~611~~570.8397	4059,~~443~~712,~~799~~257.9759	6495,~~588~~956,~~411~~828.8056
	Repurchased Loans Balance					-	-	-
	Curtailments Amount					~~285~~307,~~748~~335.5413	~~264~~441,~~830~~007.9784	~~550~~748,~~579~~342.5197
	Total Prepayment Amount					2436,~~430~~551,~~360~~906.3710	4060,~~708~~153,~~630~~265.9443	6596,~~138~~705,~~991~~171.3153
SPACE INTENTIONALLY LEFT BLANK
Total Prepayments by Groups (in thousands of dollars)					Total Prepayments (in thousands of dollars)
				Page 16 of 26				© COPYRIGHT 2003 Deutsche Bank
				Page 16 of 27				© COPYRIGHT 2003 Deutsche Bank
	Morgan Stanley ABS Capital I Inc. 2003-NC5
	Mortgage Pass-Through Certificates
	Prepayment Report for October 27, 2003 Distribution
	Prepayment Report for November 25, 2003 Distribution
	Prepayment Report - Voluntary Prepayments
VOLUNTARY PREPAYMENT RATES						GROUP 2	GROUP 1	TOTAL
	SMM					13.9038%	23.0537%	13.9938%
	3 Months Avg SMM					12.6737%	12.7536%	12.7237%
	12 Months Avg SMM
	Avg SMM Since Cut-off					1.3166%	1.3569%	1.3468%
	CPR					2033.5281%	2233.0474%	2133.4677%
	3 Months Avg CPR					1824.3299%	1924.1495%	1824.8397%
	12 Months Avg CPR
	Avg CPR Since Cut-off					1418.6015%	1518.0852%	1418.9038%
	PSA					~~1383~~2011.6341%	~~1507~~2030.8368%	~~1460~~2023.0424%
	3 Months Avg PSA Approximation					~~1427~~1685.7074%	~~1516~~1707.9116%	~~1482~~1698.4588%
	12 Months Avg PSA Approximation
	Avg PSA Since Cut-off Approximation					~~1348~~1535.7226%	~~1419~~1593.5766%	~~1392~~1571.1306%
	Group 1
	Group 2
CPR by Groups					Total CPR
PSA by Groups					Total PSA
				Page 17 of 26				© COPYRIGHT 2003 Deutsche Bank
				Page 17 of 27				© COPYRIGHT 2003 Deutsche Bank
	Morgan Stanley ABS Capital I Inc. 2003-NC5
	Mortgage Pass-Through Certificates
	Prepayment Report for October 27, 2003 Distribution
	Prepayment Report for November 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 26				© COPYRIGHT 2003 Deutsche Bank
				Page 18 of 27				© COPYRIGHT 2003 Deutsche Bank
	Morgan Stanley ABS Capital I Inc. 2003-NC5
	Mortgage Pass-Through Certificates
	Prepayment Detail Report for October 27, 2003 Distribution
	Prepayment Detail Report for November 25, 2003 Distribution
	Prepayment Detail Report - Loans Prepaid in Full During Current Distribution
SUMMARY						LOAN GROUP
Total Loan Count = 110						Loan Group 1 = Group 1 Group
Total Loan Count = 156						Loan Group 1 = Group 1 Group
Total Original Principal Balance = 19,086,510.00						Loan Group 2 = Group 2 Group
Total Original Principal Balance = 31,560,311.00						Loan Group 2 = Group 2 Group
Total Prepayment Amount = 18,991,826.31
Total Prepayment Amount = 31,368,416.76
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
320089642 1			150,000.00	149,610.93	Sep-04-03	10.950%	NJ - 57.69%	Paid Off - 360	Feb-05-03
320089451 1			187,000.00	185,853.77	Oct-16-03	6.750%	CA - 70.57%	Paid Off - 360	Feb-28-03
320090558 1			189,000.00	188,488.33	Sep-04-03	10.750%	CA - 70.00%	Paid Off - 360	Feb-05-03
320089618 1			123,250.00	122,479.48	Oct-21-03	8.990%	MI - 85.00%	Paid Off - 360	Oct-14-02
320092273 1			233,750.00	232,098.16	Sep-04-03	6.750%	VA - 85.00%	Paid Off - 360	Jan-02-03
320089956 1			133,450.00	132,786.95	Oct-07-03	8.500%	CA - 85.00%	Paid Off - 360	Feb-05-03
320093552 1			126,000.00	125,331.70	Sep-03-03	7.490%	RI - 75.00%	Paid Off - 360	Jan-14-03
320090160 1			70,000.00	67,963.64	Oct-01-03	6.990%	CA - 48.61%	Paid Off - 180	Jan-03-03
320095565 1			306,000.00	304,744.83	Sep-05-03	7.990%	NY - 90.00%	Paid Off - 360	Feb-04-03
320091432 1			300,000.00	298,166.61	Oct-31-03	7.490%	CA - 74.44%	Paid Off - 360	Jan-23-03
320095656 1			88,000.00	87,690.61	Sep-10-03	8.750%	PA - 80.00%	Paid Off - 360	Feb-07-03
320091887 1			173,700.00	172,842.24	Oct-07-03	7.850%	IL - 90.00%	Paid Off - 360	Feb-06-03
320097306 1			187,500.00	186,394.37	Sep-24-03	6.950%	MD - 83.33%	Paid Off - 360	Jan-06-03
320092125 1			164,000.00	163,250.73	Oct-09-03	8.300%	CA - 80.00%	Paid Off - 360	Feb-28-03
320098163 1			185,500.00	184,162.08	Sep-03-03	7.250%	NJ - 77.29%	Paid Off - 360	Jan-06-03
320092844 1			208,000.00	205,960.05	Oct-30-03	5.750%	CA - 80.00%	Paid Off - 360	Jan-08-03
320099948 1			207,000.00	206,109.10	Sep-18-03	7.750%	CA - 74.06%	Paid Off - 360	Feb-20-03
320093248 1			300,000.00	297,257.68	Oct-09-03	6.000%	IL - 56.60%	Paid Off - 360	Jan-02-03
320100290 1			84,000.00	82,554.86	Sep-15-03	5.750%	PA - 62.22%	Paid Off - 360	Jan-29-03
320093479 1			161,500.00	160,798.93	Oct-20-03	8.490%	MI - 85.00%	Paid Off - 360	Feb-05-03
320102072 1			137,700.00	137,006.36	Sep-18-03	7.750%	CA - 85.00%	Paid Off - 360	Jan-15-03
320094071 1			63,000.00	62,621.21	Oct-31-03	6.850%	FL - 66.32%	Paid Off - 360	Feb-11-03
320102577 1			108,850.00	107,876.41	Sep-29-03	6.350%	IL - 64.79%	Paid Off - 360	Jan-31-03
320094493 1			244,850.00	242,814.15	Oct-01-03	6.500%	CA - 83.00%	Paid Off - 360	Jan-08-03
320104052 1			151,083.00	150,268.15	Sep-09-03	6.600%	MI - 79.52%	Paid Off - 360	Feb-07-03
320094568 1			55,000.00	54,735.24	Oct-27-03	9.250%	WI - 47.83%	Paid Off - 360	Dec-16-02
320104565 1			126,000.00	125,365.31	Sep-29-03	7.750%	CA - 60.00%	Paid Off - 360	Jan-17-03
320095417 1			128,000.00	127,099.76	Oct-07-03	6.750%	NV - 80.00%	Paid Off - 360	Feb-04-03
320105471 1			136,000.00	135,384.82	Sep-18-03	7.500%	CA - 85.00%	Paid Off - 360	Feb-07-03
320096712 1			180,000.00	178,885.86	Oct-23-03	7.400%	NJ - 80.00%	Paid Off - 360	Jan-31-03
320106495 1			300,000.00	298,802.39	Sep-18-03	8.125%	CA - 75.00%	Paid Off - 360	Feb-12-03
320097009 1			220,000.00	218,562.88	Oct-22-03	7.125%	FL - 59.95%	Paid Off - 360	Jan-06-03
320106743 1			75,750.00	75,514.46	Sep-23-03	10.100%	AL - 75.00%	Paid Off - 360	Jan-29-03
320097645 1			178,550.00	177,309.09	Oct-20-03	7.000%	MA - 51.01%	Paid Off - 360	Jan-10-03
320107105 1			236,000.00	235,187.14	Sep-30-03	8.850%	MA - 78.67%	Paid Off - 360	Feb-10-03
320099229 1			160,650.00	160,077.59	Oct-15-03	9.450%	MD - 85.00%	Paid Off - 360	Feb-10-03
320107469 1			158,000.00	157,096.85	Sep-16-03	6.600%	MI - 45.14%	Paid Off - 360	Feb-11-03
320100217 1			271,800.00	269,308.65	Oct-24-03	5.990%	CA - 90.00%	Paid Off - 360	Jan-10-03
320107493 1			184,000.00	181,380.96	Sep-11-03	5.990%	IL - 68.15%	Paid Off - 360	Feb-20-03
320100332 1			108,500.00	107,933.02	Oct-17-03	8.250%	CA - 83.46%	Paid Off - 360	Feb-10-03
320110331 1			148,500.00	147,713.89	Sep-30-03	7.500%	CO - 90.00%	Paid Off - 360	Jan-28-03
320101611 1			300,000.00	297,353.89	Oct-28-03	6.500%	NY - 80.00%	Paid Off - 360	Jan-03-03
320111057 1			225,250.00	223,759.00	Sep-04-03	6.350%	CA - 85.00%	Paid Off - 360	Jan-31-03
320101629 1			146,200.00	145,533.74	Oct-23-03	8.250%	FL - 85.00%	Paid Off - 360	Feb-07-03
320111198 1			50,000.00	49,586.83	Sep-03-03	6.350%	CT - 24.39%	Paid Off - 360	Feb-27-03
320102544 1			220,000.00	218,213.55	Oct-27-03	5.990%	IL - 80.00%	Paid Off - 360	Jan-13-03
320112691 1			179,000.00	178,190.34	Sep-17-03	7.500%	CA - 73.06%	Paid Off - 360	Feb-27-03
320102601 1			129,000.00	126,867.29	Oct-06-03	6.500%	NV - 68.62%	Paid Off - 360	Jan-06-03
320113723 1			178,500.00	177,933.94	Sep-02-03	9.250%	CA - 70.00%	Paid Off - 360	Feb-10-03
320102775 1			142,000.00	140,998.46	Oct-01-03	6.750%	IL - 47.33%	Paid Off - 360	Feb-27-03
320114051 1			164,700.00	163,368.72	Sep-05-03	9.600%	VA - 90.00%	Paid Off - 360	Feb-14-03
320102882 1			240,000.00	238,829.20	Oct-17-03	8.590%	CA - 80.00%	Paid Off - 360	Jan-31-03
320114812 1			299,600.00	298,028.75	Sep-26-03	6.750%	CA - 80.00%	Paid Off - 360	Feb-11-03
320103450 1			329,000.00	327,862.70	Oct-27-03	10.250%	CA - 67.84%	Paid Off - 360	Feb-11-03
320115116 1			165,750.00	164,515.59	Sep-10-03	6.990%	CA - 85.00%	Paid Off - 360	Feb-05-03
320103492 1			234,000.00	232,313.78	Oct-20-03	6.625%	NJ - 79.86%	Paid Off - 360	Jan-31-03
320115769 1			216,000.00	214,973.61	Sep-02-03	7.250%	CA - 90.00%	Paid Off - 360	Feb-11-03
320104524 1			101,000.00	100,491.20	Oct-01-03	7.750%	FL - 69.18%	Paid Off - 360	Feb-12-03
320115793 1			229,000.00	227,699.81	Sep-05-03	7.250%	CA - 84.81%	Paid Off - 360	Feb-06-03
320104847 1			204,000.00	202,554.13	Oct-28-03	5.990%	IL - 61.82%	Paid Off - 360	Feb-21-03
320115934 1			120,000.00	119,423.76	Sep-19-03	7.990%	CA - 26.12%	Paid Off - 360	Feb-07-03
320105836 1			215,000.00	213,916.96	Oct-01-03	7.750%	NH - 87.76%	Paid Off - 360	Feb-13-03
320116833 1			172,900.00	171,996.80	Sep-12-03	7.800%	IL - 95.00%	Paid Off - 360	Feb-21-03
320105984 1			136,000.00	135,187.51	Oct-07-03	8.500%	FL - 85.00%	Paid Off - 360	Feb-05-03
320121155 1			161,250.00	160,396.37	Sep-26-03	7.500%	CA - 75.00%	Paid Off - 360	Jan-30-03
320106479 1			215,000.00	213,768.81	Oct-22-03	7.100%	MA - 69.35%	Paid Off - 360	Feb-05-03
320121536 1			231,000.00	229,514.22	Sep-23-03	6.500%	CA - 73.33%	Paid Off - 360	Feb-05-03
320108541 1			207,900.00	207,147.51	Oct-30-03	9.375%	PA - 90.00%	Paid Off - 360	Feb-18-03
320122179 1			272,000.00	270,732.67	Sep-29-03	7.350%	MI - 87.74%	Paid Off - 360	Feb-11-03
320109010 1			175,500.00	174,726.04	Oct-31-03	9.125%	FL - 90.00%	Paid Off - 360	Jan-28-03
320123391 1			252,000.00	251,019.08	Sep-04-03	8.250%	MA - 80.00%	Paid Off - 360	Feb-11-03
320110497 1			184,000.00	183,440.26	Oct-17-03	10.850%	MA - 80.00%	Paid Off - 360	Feb-06-03
320124274 1			63,750.00	63,481.04	Sep-16-03	7.850%	NC - 67.46%	Paid Off - 360	Feb-13-03
320111735 1			118,400.00	117,787.32	Oct-08-03	7.615%	NH - 80.00%	Paid Off - 360	Feb-28-03
320124597 1			189,000.00	188,161.88	Sep-11-03	7.600%	IL - 90.00%	Paid Off - 360	Feb-10-03
320111867 1			269,000.00	267,017.27	Oct-29-03	6.500%	CA - 64.82%	Paid Off - 360	Feb-19-03
320125008 1			184,050.00	183,149.26	Sep-03-03	7.100%	IL - 90.00%	Paid Off - 360	Feb-06-03
320112634 1			120,000.00	118,604.90	Oct-22-03	7.850%	IL - 80.00%	Paid Off - 360	Feb-28-03
320127301 1			45,050.00	44,917.18	Sep-29-03	9.600%	TN - 85.00%	Paid Off - 360	Feb-14-03
320113905 1			284,750.00	282,983.12	Oct-28-03	7.300%	MD - 85.00%	Paid Off - 360	Feb-20-03
320127350 1			168,000.00	167,085.13	Sep-04-03	6.550%	MI - 69.14%	Paid Off - 360	Feb-13-03
320113939 1			295,999.00	295,825.84	Oct-29-03	4.920%	CA - 80.00%	Paid Off - 300	Feb-24-03
320128812 1			144,500.00	143,878.09	Sep-26-03	7.750%	CA - 85.00%	Paid Off - 360	Feb-06-03
320114564 1			105,000.00	104,332.55	Oct-07-03	7.500%	MI - 84.00%	Paid Off - 360	Feb-10-03
320129141 1			215,000.00	213,828.35	Sep-26-03	6.875%	CA - 79.63%	Paid Off - 360	Feb-19-03
320114739 1			85,600.00	85,005.75	Oct-16-03	6.100%	MD - 80.00%	Paid Off - 360	Feb-25-03
320129620 1			202,500.00	201,487.44	Sep-03-03	6.990%	CA - 55.33%	Paid Off - 360	Feb-11-03
320115264 1			80,000.00	79,409.38	Oct-20-03	7.500%	CA - 69.57%	Paid Off - 360	Feb-11-03
					Page 19 of 26				© COPYRIGHT 2003 Deutsche Bank
					Page 19 of 27				© COPYRIGHT 2003 Deutsche Bank
	Morgan Stanley ABS Capital I Inc. 2003-NC5
	Mortgage Pass-Through Certificates
	Prepayment Detail Report for October 27, 2003 Distribution
	Prepayment Detail Report for November 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
320130768 1			166,250.00	165,475.39	Sep-18-03	7.350%	IL - 95.00%	Paid Off - 360	Feb-12-03
320115637 1			148,000.00	147,325.56	Oct-17-03	8.250%	CA - 74.00%	Paid Off - 360	Feb-19-03
320133259 1			121,500.00	120,685.99	Sep-02-03	7.350%	WI - 90.00%	Paid Off - 360	Feb-21-03
320115819 1			199,750.00	198,882.95	Oct-02-03	8.490%	NJ - 85.00%	Paid Off - 360	Feb-18-03
320134992 1			279,000.00	278,058.24	Sep-03-03	8.950%	CA - 90.00%	Paid Off - 360	Feb-21-03
320117062 1			127,500.00	126,876.61	Oct-28-03	8.350%	DC - 85.00%	Paid Off - 360	Feb-06-03
320135775 1			94,850.00	94,539.73	Sep-10-03	9.100%	MI - 70.00%	Paid Off - 360	Feb-13-03
320117146 1			200,000.00	198,580.18	Oct-08-03	6.750%	NY - 66.67%	Paid Off - 360	Feb-03-03
320137755 1			224,000.00	222,986.78	Sep-05-03	7.500%	CA - 70.00%	Paid Off - 360	Feb-24-03
320117542 1			100,000.00	99,558.41	Oct-02-03	8.890%	CO - 58.14%	Paid Off - 360	Feb-28-03
320139488 1			70,000.00	69,640.27	Sep-30-03	6.850%	NJ - 63.64%	Paid Off - 360	Feb-19-03
320119001 1			35,000.00	34,859.93	Oct-09-03	8.890%	NV - 34.65%	Paid Off - 360	Feb-10-03
320139843 1			156,640.00	156,060.43	Sep-30-03	8.500%	FL - 88.00%	Paid Off - 360	Feb-20-03
320119027 1			110,000.00	109,456.82	Oct-28-03	7.850%	RI - 84.62%	Paid Off - 360	Feb-10-03
320140775 1			227,500.00	226,425.49	Sep-15-03	7.600%	NY - 87.50%	Paid Off - 360	Feb-21-03
320119720 1			225,000.00	223,701.28	Oct-01-03	7.250%	MA - 63.74%	Paid Off - 360	Feb-13-03
320141427 1			148,000.00	147,275.71	Sep-18-03	7.100%	MI - 80.00%	Paid Off - 360	Feb-25-03
320120181 1			60,000.00	57,625.59	Oct-16-03	7.500%	FL - 85.71%	Paid Off - 360	Feb-05-03
320142490 1			186,000.00	185,311.83	Sep-18-03	8.500%	MA - 72.37%	Paid Off - 360	Feb-11-03
320121189 1			90,000.00	89,532.92	Oct-15-03	7.600%	MA - 55.21%	Paid Off - 360	Feb-05-03
320142979 1			223,000.00	221,771.55	Sep-03-03	6.490%	CA - 63.71%	Paid Off - 360	Feb-28-03
320121726 1			260,000.00	258,478.78	Oct-30-03	6.990%	HI - 80.00%	Paid Off - 360	Feb-19-03
320143944 1			232,050.00	230,889.68	Sep-11-03	6.990%	CA - 85.00%	Paid Off - 360	Feb-11-03
320125784 1			175,000.00	173,978.13	Oct-27-03	7.000%	CO - 70.00%	Paid Off - 360	Feb-20-03
320145022 1			35,904.00	35,813.64	Sep-24-03	10.350%	IA - 90.00%	Paid Off - 360	Feb-25-03
320125891 1			197,200.00	196,273.78	Oct-30-03	8.100%	IL - 85.00%	Paid Off - 360	Feb-10-03
320145261 1			260,775.00	259,685.84	Sep-30-03	7.900%	CO - 95.00%	Paid Off - 360	Feb-19-03
320126907 1			109,650.00	109,123.51	Oct-27-03	7.990%	UT - 85.00%	Paid Off - 360	Feb-24-03
320145485 1			217,750.00	216,885.53	Sep-09-03	8.650%	NJ - 65.00%	Paid Off - 360	Feb-21-03
320128598 1			162,350.00	161,306.51	Oct-29-03	7.500%	MO - 85.00%	Paid Off - 360	Feb-03-03
320146848 1			207,000.00	206,135.44	Sep-05-03	7.900%	CA - 90.00%	Paid Off - 360	Feb-25-03
320129836 1			122,850.00	122,166.83	Oct-15-03	7.250%	AZ - 90.00%	Paid Off - 360	Feb-25-03
320147978 1			150,000.00	149,269.87	Sep-15-03	7.600%	CO - 56.18%	Paid Off - 360	Feb-28-03
320130214 1			136,000.00	135,432.74	Oct-02-03	8.990%	MA - 80.00%	Paid Off - 360	Feb-05-03
320148448 1			148,000.00	147,209.46	Sep-22-03	6.650%	CA - 80.00%	Paid Off - 360	Feb-21-03
320130966 1			117,300.00	116,776.15	Oct-07-03	8.350%	MN - 85.00%	Paid Off - 360	Feb-24-03
320149164 1			267,750.00	266,900.91	Sep-22-03	9.250%	MA - 85.00%	Paid Off - 360	Feb-25-03
320131139 1			183,750.00	182,728.22	Oct-24-03	7.250%	CA - 75.00%	Paid Off - 360	Feb-13-03
320150014 1			99,000.00	98,668.29	Sep-10-03	8.990%	AZ - 90.00%	Paid Off - 360	Feb-24-03
320131253 1			183,750.00	182,728.22	Oct-23-03	7.250%	CA - 75.00%	Paid Off - 360	Feb-13-03
320150345 1			215,050.00	214,178.44	Sep-18-03	8.050%	CA - 85.00%	Paid Off - 360	Feb-24-03
320132293 1			157,250.00	156,260.47	Oct-15-03	7.250%	MI - 85.00%	Paid Off - 360	Feb-20-03
320150410 1			178,750.00	178,249.93	Sep-08-03	9.850%	CA - 65.00%	Paid Off - 360	Feb-24-03
320132392 1			143,000.00	142,119.74	Oct-31-03	6.800%	IL - 66.20%	Paid Off - 360	Feb-26-03
320151111 1			260,000.00	258,570.48	Sep-03-03	6.500%	CA - 80.00%	Paid Off - 360	Feb-21-03
320134679 1			270,000.00	268,344.99	Oct-23-03	6.750%	CO - 90.00%	Paid Off - 360	Feb-24-03
320151491 1			212,000.00	211,087.58	Sep-17-03	7.750%	CA - 84.80%	Paid Off - 360	Feb-28-03
320134760 1			80,750.00	80,399.47	Oct-07-03	8.490%	MI - 85.00%	Paid Off - 360	Feb-10-03
320151962 1			45,300.00	45,094.67	Sep-25-03	7.490%	NV - 10.27%	Paid Off - 360	Feb-28-03
320135338 1			297,000.00	295,950.53	Oct-01-03	9.490%	CA - 90.00%	Paid Off - 360	Feb-14-03
320152069 1			68,075.00	67,761.08	Sep-09-03	7.440%	MO - 83.22%	Paid Off - 360	Feb-28-03
320136260 1			273,750.00	272,300.92	Oct-17-03	7.500%	CA - 75.00%	Paid Off - 360	Feb-07-03
320090616 2			139,500.00	139,019.51	Sep-26-03	8.850%	AL - 90.00%	Paid Off - 360	Feb-14-03
320136427 1			74,400.00	73,964.68	Oct-03-03	6.990%	LA - 80.00%	Paid Off - 360	Feb-20-03
320091549 2			323,000.00	321,110.25	Sep-29-03	6.990%	IL - 85.00%	Paid Off - 360	Jan-29-03
320137615 1			280,500.00	279,400.77	Oct-01-03	8.990%	IL - 85.00%	Paid Off - 360	Feb-10-03
320095276 2			255,000.00	252,913.71	Sep-02-03	5.950%	CA - 85.00%	Paid Off - 360	Jan-08-03
320137730 1			126,000.00	125,332.97	Oct-01-03	7.500%	CA - 82.89%	Paid Off - 360	Feb-21-03
320095326 2			144,250.00	143,592.63	Sep-09-03	8.250%	CA - 77.97%	Paid Off - 360	Jan-14-03
320138530 1			260,000.00	259,054.13	Oct-29-03	9.350%	CO - 80.00%	Paid Off - 360	Feb-24-03
320096217 2			103,600.00	103,184.32	Sep-30-03	8.100%	NY - 80.00%	Paid Off - 360	Feb-10-03
320139140 1			129,500.00	128,909.82	Oct-03-03	8.250%	CO - 70.00%	Paid Off - 360	Feb-20-03
320097314 2			110,250.00	109,995.27	Sep-15-03	10.750%	SC - 75.00%	Paid Off - 360	Feb-05-03
320139322 1			123,200.00	122,381.09	Oct-29-03	7.250%	DC - 70.00%	Paid Off - 360	Feb-21-03
320098197 2			40,000.00	39,605.14	Sep-15-03	10.740%	CA - 5.71%	Paid Off - 240	Dec-31-02
320139629 1			318,750.00	317,101.55	Oct-02-03	8.450%	CA - 85.00%	Paid Off - 360	Feb-28-03
320104607 2			208,000.00	206,936.36	Sep-04-03	6.875%	CA - 69.33%	Paid Off - 360	Feb-10-03
320141542 1			115,000.00	114,243.03	Oct-01-03	6.380%	CA - 41.82%	Paid Off - 360	Feb-25-03
320106347 2			117,600.00	117,206.40	Sep-11-03	9.750%	MI - 80.00%	Paid Off - 360	Feb-03-03
320142052 1			266,900.00	265,415.84	Oct-16-03	7.250%	CA - 85.00%	Paid Off - 360	Feb-19-03
320106842 2			48,000.00	47,782.91	Sep-12-03	7.500%	SC - 70.59%	Paid Off - 360	Feb-21-03
320142334 1			201,000.00	200,316.21	Oct-21-03	9.750%	CA - 71.79%	Paid Off - 360	Feb-25-03
320107683 2			162,400.00	161,558.25	Sep-04-03	7.990%	CA - 80.00%	Paid Off - 360	Feb-03-03
320143084 1			168,000.00	167,147.56	Oct-06-03	8.100%	ME - 80.00%	Paid Off - 360	Feb-14-03
320110943 2			184,875.00	184,238.23	Sep-24-03	8.850%	NJ - 85.00%	Paid Off - 360	Feb-28-03
320143415 1			293,000.00	291,186.57	Oct-10-03	6.700%	CA - 73.25%	Paid Off - 360	Feb-24-03
320111958 2			346,500.00	344,885.59	Sep-02-03	7.350%	NJ - 70.00%	Paid Off - 360	Feb-12-03
320143498 1			166,600.00	165,799.55	Oct-28-03	8.100%	MI - 85.00%	Paid Off - 360	Feb-28-03
320112733 2			200,000.00	199,311.15	Sep-29-03	8.850%	CT - 68.49%	Paid Off - 360	Feb-20-03
320143712 1			162,000.00	161,007.02	Oct-30-03	6.750%	NH - 55.86%	Paid Off - 360	Feb-26-03
320112741 2			113,450.00	113,051.09	Sep-22-03	8.750%	FL - 84.98%	Paid Off - 360	Feb-04-03
320144215 1			239,000.00	237,601.68	Oct-24-03	6.990%	CA - 63.73%	Paid Off - 360	Feb-28-03
320113244 2			61,625.00	61,447.22	Sep-16-03	9.850%	AL - 85.00%	Paid Off - 360	Feb-14-03
320144355 1			236,000.00	234,846.19	Oct-30-03	7.900%	CO - 80.00%	Paid Off - 360	Feb-27-03
320114838 2			74,900.00	74,350.31	Sep-26-03	10.740%	CA - 20.00%	Paid Off - 240	Feb-11-03
320144397 1			169,150.00	168,552.73	Oct-10-03	9.600%	NJ - 85.00%	Paid Off - 360	Feb-25-03
320117443 2			105,000.00	104,521.53	Sep-24-03	8.250%	TX - 57.69%	Paid Off - 360	Feb-04-03
320144454 1			168,000.00	167,178.63	Oct-03-03	7.900%	CA - 80.00%	Paid Off - 360	Feb-19-03
320118482 2			210,000.00	209,238.70	Sep-12-03	8.600%	RI - 84.00%	Paid Off - 360	Feb-18-03
320144520 1			88,500.00	88,104.74	Oct-30-03	8.350%	CO - 42.14%	Paid Off - 360	Feb-14-03
320118656 2			71,550.00	71,349.83	Sep-16-03	9.850%	IL - 90.00%	Paid Off - 360	Feb-03-03
320145311 1			111,000.00	110,494.18	Oct-10-03	8.250%	IL - 48.90%	Paid Off - 360	Feb-18-03
320121957 2			395,700.00	393,503.40	Sep-23-03	6.450%	MD - 95.00%	Paid Off - 360	Feb-11-03
320145352 1			228,000.00	226,850.81	Oct-29-03	7.750%	NY - 80.00%	Paid Off - 360	Feb-18-03
320125057 2			144,500.00	143,948.36	Sep-02-03	8.350%	MI - 82.57%	Paid Off - 360	Feb-20-03
320145402 1			320,000.00	318,000.30	Oct-03-03	6.650%	CA - 80.00%	Paid Off - 360	Feb-20-03
320129166 2			403,200.00	401,087.59	Sep-19-03	6.750%	TN - 70.00%	Paid Off - 360	Feb-07-03
320145758 1			300,000.00	298,885.79	Oct-07-03	9.250%	MT - 75.00%	Paid Off - 360	Feb-28-03
320132913 2			60,000.00	59,809.71	Sep-03-03	9.250%	IL - 34.09%	Paid Off - 360	Feb-13-03
320145766 1			160,000.00	158,970.90	Oct-30-03	6.500%	NV - 76.19%	Paid Off - 360	Feb-12-03
320133218 2			341,250.00	339,660.05	Sep-30-03	7.350%	MA - 65.00%	Paid Off - 360	Feb-26-03
320146012 1			252,000.00	250,863.20	Oct-16-03	8.300%	CA - 90.00%	Paid Off - 360	Feb-18-03
320134513 2			408,850.00	407,125.21	Sep-05-03	7.850%	MA - 85.00%	Paid Off - 360	Feb-25-03
320146731 1			261,800.00	260,344.19	Oct-14-03	7.250%	CA - 85.00%	Paid Off - 360	Feb-28-03
					Page 20 of 26				© COPYRIGHT 2003 Deutsche Bank
					Page 20 of 27				© COPYRIGHT 2003 Deutsche Bank
	Morgan Stanley ABS Capital I Inc. 2003-NC5
	Mortgage Pass-Through Certificates
	Prepayment Detail Report for October 27, 2003 Distribution
	Prepayment Detail Report for November 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
320135411 2			160,800.00	160,061.04	Sep-30-03	7.420%	CA - 80.00%	Paid Off - 360	Feb-27-03
320147150 1			92,000.00	91,425.08	Oct-02-03	6.650%	IL - 73.02%	Paid Off - 360	Feb-21-03
320135767 2			40,200.00	39,875.22	Sep-30-03	9.990%	CA - 20.00%	Paid Off - 240	Feb-27-03
320147820 1			193,600.00	192,453.62	Oct-29-03	6.990%	CA - 80.00%	Paid Off - 360	Feb-25-03
320136377 2			328,900.00	327,553.41	Sep-18-03	8.490%	CA - 89.99%	Paid Off - 360	Feb-28-03
320147952 1			189,900.00	189,157.34	Oct-28-03	9.000%	CA - 90.00%	Paid Off - 360	Feb-24-03
320136476 2			84,000.00	83,586.83	Sep-02-03	7.350%	FL - 44.21%	Paid Off - 360	Feb-26-03
320148117 1			152,000.00	151,601.52	Oct-21-03	10.900%	CA - 82.16%	Paid Off - 360	Feb-28-03
320140056 2			85,000.00	84,623.05	Sep-05-03	7.600%	CA - 20.53%	Paid Off - 360	Feb-12-03
320148364 1			56,150.00	55,906.16	Oct-21-03	8.600%	PA - 69.32%	Paid Off - 360	Feb-21-03
320140999 2			103,500.00	103,097.08	Sep-05-03	8.250%	IL - 90.00%	Paid Off - 360	Feb-28-03
320149396 1			171,150.00	170,243.99	Oct-01-03	7.500%	VA - 70.00%	Paid Off - 360	Feb-26-03
320145329 2			195,300.00	194,163.57	Sep-02-03	6.500%	CA - 90.00%	Paid Off - 360	Feb-18-03
320149495 1			152,000.00	151,374.25	Oct-30-03	8.750%	AZ - 93.25%	Paid Off - 360	Feb-28-03
320145386 2			195,600.00	194,559.23	Sep-30-03	6.990%	CA - 80.00%	Paid Off - 360	Feb-21-03
320149669 1			279,801.00	277,913.25	Oct-30-03	6.250%	CA - 79.94%	Paid Off - 360	Feb-27-03
320145428 2			48,900.00	48,239.14	Sep-30-03	10.990%	CA - 20.00%	Paid Off - 180	Feb-21-03
320150444 1			305,000.00	303,215.53	Oct-09-03	6.990%	CA - 71.76%	Paid Off - 360	Feb-28-03
320146590 2			64,233.00	63,791.50	Sep-25-03	11.240%	CA - 15.00%	Paid Off - 240	Feb-27-03
320150584 1			216,750.00	215,792.54	Oct-23-03	8.600%	CA - 85.00%	Paid Off - 360	Feb-21-03
320147853 2			350,000.00	348,508.65	Sep-04-03	7.800%	CA - 94.59%	Paid Off - 360	Feb-25-03
320150683 1			57,000.00	56,848.93	Oct-15-03	10.850%	FL - 36.08%	Paid Off - 360	Feb-24-03
320148489 2			37,000.00	36,737.24	Sep-22-03	10.990%	CA - 20.00%	Paid Off - 240	Feb-21-03
320152630 1			163,700.00	162,923.35	Oct-17-03	8.050%	FL - 95.00%	Paid Off - 360	Feb-28-03
320150659 2			42,000.00	41,738.43	Sep-16-03	11.990%	CA - 20.00%	Paid Off - 240	Feb-26-03
320089709 2			204,000.00	202,611.07	Oct-17-03	8.990%	NY - 75.00%	Paid Off - 360	Nov-01-02
320152382 2			436,500.00	434,317.38	Sep-16-03	6.990%	CA - 90.00%	Paid Off - 360	Feb-28-03
320090384 2			506,000.00	501,943.57	Oct-27-03	7.250%	CA - 83.64%	Paid Off - 360	Dec-05-02
					Page 21 of 26				© COPYRIGHT 2003 Deutsche Bank
320090962 2			166,500.00	165,671.03	Oct-14-03	8.490%	MA - 90.00%	Paid Off - 360	Jan-06-03
320091275 2			100,000.00	99,491.10	Oct-01-03	8.990%	MI - 78.74%	Paid Off - 360	Jan-21-03
320092232 2			359,686.00	357,774.63	Oct-15-03	7.750%	CA - 85.00%	Paid Off - 360	Feb-18-03
320092398 2			499,000.00	496,392.26	Oct-21-03	8.250%	IN - 69.89%	Paid Off - 360	Feb-07-03
320092919 2			40,000.00	39,191.51	Oct-28-03	7.990%	KY - 64.00%	Paid Off - 240	Jan-02-03
320093719 2			389,000.00	385,439.94	Oct-24-03	5.990%	CA - 60.31%	Paid Off - 360	Jan-27-03
320093834 2			300,000.00	298,267.29	Oct-20-03	7.750%	VA - 81.30%	Paid Off - 360	Jan-17-03
320094733 2			360,000.00	358,094.31	Oct-27-03	7.500%	CA - 90.00%	Paid Off - 360	Feb-13-03
320094857 2			175,000.00	174,036.47	Oct-08-03	7.990%	NJ - 72.92%	Paid Off - 360	Jan-15-03
320094873 2			560,000.00	555,553.15	Oct-17-03	6.740%	CA - 80.00%	Paid Off - 360	Dec-31-02
320095664 2			450,000.00	448,108.18	Oct-30-03	9.900%	CA - 60.00%	Paid Off - 360	Dec-27-02
320096100 2			288,000.00	286,210.09	Oct-09-03	7.990%	CA - 90.00%	Paid Off - 360	Jan-03-03
320096118 2			483,500.00	476,500.31	Oct-07-03	6.990%	CA - 69.07%	Paid Off - 360	Dec-18-02
320096662 2			110,400.00	109,705.35	Oct-17-03	7.500%	OH - 80.00%	Paid Off - 360	Jan-31-03
320096969 2			321,000.00	319,145.98	Oct-23-03	7.750%	NC - 84.47%	Paid Off - 360	Jan-13-03
320097835 2			403,750.00	400,756.45	Oct-02-03	5.750%	NY - 85.00%	Paid Off - 360	Feb-18-03
320099203 2			66,000.00	65,671.99	Oct-20-03	8.500%	MO - 80.00%	Paid Off - 360	Feb-10-03
320100829 2			550,000.00	547,229.47	Oct-15-03	7.750%	CA - 84.62%	Paid Off - 360	Feb-28-03
320106586 2			252,000.00	250,297.29	Oct-02-03	6.500%	NJ - 67.74%	Paid Off - 360	Feb-10-03
320108053 2			161,500.00	159,816.30	Oct-30-03	8.500%	CA - 85.00%	Paid Off - 360	Feb-04-03
320117245 2			68,000.00	67,074.09	Oct-01-03	8.240%	TX - 80.00%	Paid Off - 360	Feb-14-03
320118995 2			375,000.00	372,485.22	Oct-17-03	6.990%	CA - 75.00%	Paid Off - 360	Feb-24-03
320121015 2			482,800.00	479,975.32	Oct-27-03	6.990%	CA - 84.97%	Paid Off - 360	Feb-26-03
320123748 2			185,000.00	184,122.34	Oct-28-03	8.050%	CA - 63.79%	Paid Off - 360	Feb-25-03
320125560 2			80,325.00	80,062.15	Oct-20-03	9.990%	IN - 85.00%	Paid Off - 360	Feb-05-03
320125974 2			169,150.00	168,309.58	Oct-23-03	8.350%	DC - 85.43%	Paid Off - 360	Feb-11-03
320130560 2			94,000.00	93,451.07	Oct-10-03	7.000%	WA - 53.71%	Paid Off - 360	Feb-10-03
320132962 2			57,600.00	57,120.57	Oct-17-03	10.990%	CA - 10.00%	Paid Off - 240	Feb-25-03
320134059 2			165,750.00	164,964.65	Oct-29-03	8.350%	MD - 85.00%	Paid Off - 360	Feb-28-03
320138332 2			146,500.00	145,747.21	Oct-31-03	7.650%	RI - 77.51%	Paid Off - 360	Feb-19-03
320140312 2			152,000.00	151,195.36	Oct-02-03	7.500%	CA - 77.95%	Paid Off - 360	Feb-12-03
320140452 2			195,500.00	194,686.90	Oct-08-03	8.700%	CA - 83.19%	Paid Off - 360	Feb-12-03
320141161 2			368,000.00	366,143.32	Oct-27-03	7.750%	CA - 79.14%	Paid Off - 360	Feb-20-03
320142920 2			359,000.00	356,797.51	Oct-02-03	6.750%	CA - 82.53%	Paid Off - 360	Feb-13-03
320143241 2			131,750.00	131,245.23	Oct-02-03	9.100%	FL - 85.00%	Paid Off - 360	Feb-25-03
320144181 2			52,000.00	51,774.71	Oct-30-03	8.500%	TX - 80.00%	Paid Off - 360	Feb-27-03
320145444 2			80,000.00	79,334.12	Oct-03-03	10.990%	CA - 20.00%	Paid Off - 240	Feb-20-03
320146186 2			384,000.00	381,864.69	Oct-06-03	7.250%	CA - 80.00%	Paid Off - 360	Feb-18-03
					Page 21 of 27				© COPYRIGHT 2003 Deutsche Bank
	Morgan Stanley ABS Capital I Inc. 2003-NC5
	Mortgage Pass-Through Certificates
	Realized Loss Report for October 27, 2003 Distribution
	Prepayment Detail Report for November 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
320147143 2			160,000.00	159,313.89	Oct-23-03	8.550%	FL - 80.00%	Paid Off - 360	Feb-24-03
320148026 2			436,000.00	431,833.42	Oct-27-03	7.650%	CA - 79.71%	Paid Off - 360	Feb-27-03
320148299 2			150,000.00	149,316.48	Oct-23-03	8.250%	IL - 80.00%	Paid Off - 360	Feb-28-03
320149081 2			374,400.00	372,209.00	Oct-27-03	6.990%	CA - 80.00%	Paid Off - 360	Feb-26-03
320149768 2			315,000.00	313,365.85	Oct-01-03	7.990%	CA - 90.00%	Paid Off - 360	Feb-27-03
320150816 2			48,400.00	47,913.02	Oct-29-03	10.990%	CA - 20.00%	Paid Off - 240	Feb-25-03
320152390 2			56,000.00	55,533.86	Oct-02-03	10.990%	WA - 20.00%	Paid Off - 240	Feb-27-03
320152481 2			348,000.00	346,211.84	Oct-01-03	7.750%	CA - 74.84%	Paid Off - 360	Feb-26-03
					Page 22 of 27				© COPYRIGHT 2003 Deutsche Bank
	Morgan Stanley ABS Capital I Inc. 2003-NC5
	Mortgage Pass-Through Certificates
	Realized Loss Report for November 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
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				Page 23 of 27				© COPYRIGHT 2003 Deutsche Bank
	Morgan Stanley ABS Capital I Inc. 2003-NC5
	Mortgage Pass-Through Certificates
	Realized Loss Report for October 27, 2003 Distribution
	Realized Loss Report for November 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%	0.00%	0.00%
	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%	0.00%	0.00%
	3 Months Avg SDA Approximation					0.00%	0.00%	0.00%
	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 23 of 26				© COPYRIGHT 2003 Deutsche Bank
				Page 24 of 27				© COPYRIGHT 2003 Deutsche Bank
	Morgan Stanley ABS Capital I Inc. 2003-NC5
	Mortgage Pass-Through Certificates
	Realized Loss Report for October 27, 2003 Distribution
	Realized Loss Report for November 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 24 of 26				© COPYRIGHT 2003 Deutsche Bank
				Page 25 of 27				© COPYRIGHT 2003 Deutsche Bank
	Morgan Stanley ABS Capital I Inc. 2003-NC5
	Mortgage Pass-Through Certificates
	Realized Loss Detail Report for October 27, 2003 Distribution
	Realized Loss Detail Report for November 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 25 of 26				© COPYRIGHT 2003 Deutsche Bank
					Page 26 of 27				© COPYRIGHT 2003 Deutsche Bank
	Morgan Stanley ABS Capital I Inc. 2003-NC5
	Mortgage Pass-Through Certificates
	Triggers, Adj. Rate Cert. and Miscellaneous Report for October 27, 2003 Distribution
	Triggers, Adj. Rate Cert. and Miscellaneous Report for November 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))							01.9252%
	(x) Rolling 3-month avg. of 60+ Day Delinq. Loans							813,~~619~~766,~~865~~581.7214
	(y) Stated Principal Balance							~~935~~903,~~989~~679,~~210~~754.7917
	(B) 40% of Sr. Enhancement Percentage							78.9916%
	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							1,005,015,117.80
	(B) Applicable Percentage							100.00%
	Senior Enhancement Percentage (Prior)							1920.9840%
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
	Reimbursement Amount							0.00
	Interest Rate Cap Payment							0.00
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Filing Compare · MORGAN STANLEY ABS CAPITAL I MORT PS-THR CER SER 2003-NC5