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): ~~November~~December 2526, 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 ~~November~~December 2526, 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: ~~Nov~~Jan 2602, ~~2003~~2004 By: /s/ Katherine M. Wannenmacher Katherine M. Wannenmacher Vice President EXHIBIT INDEX DOCUMENT Monthly Remittance Statement to the Certificateholders dated as of ~~November~~December 2526, 2003.

	Morgan Stanley ABS Capital I Inc. 2003-NC5
	Mortgage Pass-Through Certificates
	November 25, 2003 Distribution
	December 26, 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				23
			12.	Realized Loss Detail Report				26
			13.	Triggers, Adj. Rate Cert. and Miscellaneous Report				27
				Total Number of Pages				27
			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: November 25, 2003
								Distribution Date: December 26, 2003
	Underwriter(s):		Morgan Stanley & Co. Inc					Record Date: ~~November~~December 24, 2003
								October 31, 2003
								November 28, 2003
						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 November 25, 2003 Distribution
	Certificate Payment Report for December 26, 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			~~459~~439,~~273~~377,~~113~~245.0763	~~584~~597,~~552~~324.6121	1920,~~895~~031,~~867~~690.4499	20,~~480~~629,~~420~~015.0520	-	-	~~439~~419,~~377~~345,~~245~~554.6364
A-2	FLT, STEP	100,000,000.00			9187,~~674~~691,~~258~~919.9956	~~103~~105,~~388~~623.1909	3,~~982~~110,~~339~~988.4333	43,~~085~~216,~~727~~611.6242	-	-	8784,~~691~~580,~~919~~931.5623
A-3	FLT, STEP	211,716,000.00			~~194~~185,~~089~~657,~~074~~824.1641	~~229~~234,~~833~~812.8102	86,~~431~~586,~~249~~460.7605	86,~~661~~821,~~083~~272.5707	-	-	~~185~~179,~~657~~071,~~824~~364.4136
M-1	MEZ, FLT,ST	63,818,000.00			63,818,000.00	~~101~~108,~~275~~191.6245	-	~~101~~108,~~275~~191.6245	-	-	63,818,000.00
M-2	MEZ, FLT,ST	55,276,000.00			55,276,000.00	~~138~~148,~~927~~448.0169	-	~~138~~148,~~927~~448.0169	-	-	55,276,000.00
M-3	MEZ, FLT,ST	17,588,000.00			17,588,000.00	4851,~~454~~777.9473	-	4851,~~454~~777.9473	-	-	17,588,000.00
B-1	SUB, FLT,ST	13,065,000.00			13,065,000.00	4649,~~518~~712.6678	-	4649,~~518~~712.6678	-	-	13,065,000.00
B-2	SUB, FLT,ST	11,055,000.00			11,055,000.00	4346,~~369~~348.3847	-	4346,~~369~~348.3847	-	-	11,055,000.00
B-3	SUB, FLT,ST	12,563,000.00			12,563,000.00	4952,~~285~~670.3581	-	4952,~~285~~670.3581	-	-	12,563,000.00
X	SUB	17,586,872.00			17,587,764.55	43,~~195~~956,~~973~~237.0279	-	43,~~195~~956,~~973~~237.0279	-	-	17,587,764.55
P	SUB,EXE	-			-	~~635~~505,~~019~~247.0434	-	~~635~~505,~~019~~247.0434	-	-	-
UT-R	R	-			-	-	-	-	-	-	-
Total		1,005,008,872.00			~~935~~903,~~989~~679,~~210~~754.7815	65,~~176~~856,~~597~~394.6338	3229,~~309~~729,~~456~~139.6337	3835,~~486~~585,~~054~~533.2675	-	-	~~903~~873,~~679~~950,~~754~~614.1578
	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	1011/2725/03	1112/2425/03		A-Act/360	61746RAS0	502,341,000.00	~~914~~874.~~265634~~659336	1.~~163657~~189081	39.~~606298~~876679	4041.~~769955~~065761	~~874~~834.~~659336~~782657
A-2	1011/2725/03	1112/2425/03		A-Act/360	61746RBB6	100,000,000.00	~~916~~876.~~742590~~919196	1.~~033882~~056231	3931.~~823394~~109883	4032.~~857276~~166114	~~876~~845.~~919196~~809312
A-3	1011/2725/03	1112/2425/03		A-Act/360	61746RBJ9	211,716,000.00	~~916~~876.~~742590~~919196	1.~~085576~~109090	3931.~~823394~~109883	4032.~~908970~~218973	~~876~~845.~~919196~~809312
M-1	1011/2725/03	1112/2425/03		A-Act/360	61746RBC4	63,818,000.00	1,000.000000	1.~~586944~~695312	-	1.~~586944~~695312	1,000.000000
M-2	1011/2725/03	1112/2425/03		A-Act/360	61746RBD2	55,276,000.00	1,000.000000	2.~~513333~~685590	-	2.~~513333~~685590	1,000.000000
M-3	1011/2725/03	1112/2425/03		A-Act/360	61746RBE0	17,588,000.00	1,000.000000	2.~~755000~~943924	-	2.~~755000~~943924	1,000.000000
B-1	1011/2725/03	1112/2425/03		A-Act/360	61746RBF7	13,065,000.00	1,000.000000	3.~~560556~~805035	-	3.~~560556~~805035	1,000.000000
B-2	1011/2725/03	1112/2425/03		A-Act/360	61746RBG5	11,055,000.00	1,000.000000	34.~~923056~~192535	-	34.~~923056~~192535	1,000.000000
B-3	1011/2725/03	1112/2425/03		A-Act/360	61746RBH3	12,563,000.00	1,000.000000	34.~~923056~~192534	-	34.~~923056~~192534	1,000.000000
X	1011/2725/03	1112/2425/03		A-Act/360		17,586,872.00	1,000.050751	~~238~~224.~~585521~~954033	-	~~238~~224.~~585521~~954033	1,000.050751
P	1011/2725/03	1112/2425/03		-		-	-	-	-	-	-
UT-R	1011/2725/03	1112/2425/03		-		-	-	-	-	-	-
							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 November 25, 2003 Distribution
	Certificate Payment Report for December 26, 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		34,~~852~~450,~~815~~139.1738		6079,~~111~~653,~~100~~752.0943	23,~~852~~341,~~654~~692.2893	6282,~~963~~995,~~754~~445.3736	6687,~~816~~445,~~569~~584.5474	-	-	~~439~~419,~~377~~345,~~245~~554.6364
A-2	100,000,000.00		~~680~~786,~~630~~253.3443		1114,~~738~~773,~~068~~107.5756	~~570~~645,~~011~~961.8821	1215,~~308~~419,~~080~~068.4477	1216,~~988~~205,~~710~~322.7820	-	-	8784,~~691~~580,~~919~~931.5623
A-3	211,716,000.00		1,~~512~~747,~~475~~287.4143		2431,~~851~~277,~~369~~032.2541	1,~~206~~367,~~806~~603.3423	2632,~~058~~644,~~175~~635.5964	2734,~~570~~391,~~651~~923.0007	-	-	~~185~~179,~~657~~071,~~824~~364.4136
M-1	63,818,000.00		~~632~~740,~~010~~202.9338		0.00	-	-	~~632~~740,~~010~~202.9338	-	-	63,818,000.00
M-2	55,276,000.00		~~865~~1,~~253~~013,702.6534		-	-	-	~~865~~1,~~253~~013,702.6534	-	-	55,276,000.00
M-3	17,588,000.00		~~301~~353,~~692~~470.8356		-	-	-	~~301~~353,~~692~~470.8356	-	-	17,588,000.00
B-1	13,065,000.00		~~289~~339,~~433~~146.3008		-	-	-	~~289~~339,~~433~~146.3008	-	-	13,065,000.00
B-2	11,055,000.00		~~269~~316,~~778~~127.8633		-	-	-	~~269~~316,~~778~~127.8633	-	-	11,055,000.00
B-3	12,563,000.00		~~306~~359,~~579~~249.0889		-	-	-	~~306~~359,~~579~~249.0889	-	-	12,563,000.00
X	17,586,872.00		2529,~~967~~923,~~146~~384.6240		4,633.63	719.62	5,353.25	2529,~~972~~928,~~499~~737.8765	-	6,245.80	17,587,764.55
P	-		12,~~609~~115,~~894~~141.5488		-	-	-	12,~~609~~115,~~894~~141.5488	-	-	-
UT-R	-		-		-	-	-	-	-	-	-
Total	1,005,008,872.00		3642,~~287~~144,~~710~~105.7310		96125,~~705~~708,~~171~~526.5303	45,~~630~~355,~~192~~976.1299	~~101~~131,~~335~~064,~~363~~503.6502	~~137~~173,~~623~~208,~~074~~608.3812	-	6,245.80	~~903~~873,~~679~~950,~~754~~614.1578
	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~~57875%	~~459~~439,~~273~~377,~~113~~245.0763			~~584~~597,~~552~~324.6121	-	-	-	~~584~~597,~~552~~324.6121	~~584~~597,~~552~~324.6121	-
A-2	1.~~40000~~39875%	9187,~~674~~691,~~258~~919.9956			~~103~~105,~~388~~623.1909	-	-	-	~~103~~105,~~388~~623.1909	~~103~~105,~~388~~623.1909	-
A-3	1.~~47000~~46875%	~~194~~185,~~089~~657,~~074~~824.1641			~~229~~234,~~833~~812.8102	-	-	-	~~229~~234,~~833~~812.8102	~~229~~234,~~833~~812.8102	-
M-1	1.~~97000~~96875%	63,818,000.00			~~101~~108,~~275~~191.6245	-	-	-	~~101~~108,~~275~~191.6245	~~101~~108,~~275~~191.6245	-
M-2	3.~~12000~~11875%	55,276,000.00			~~138~~148,~~927~~448.0169	-	-	-	~~138~~148,~~927~~448.0169	~~138~~148,~~927~~448.0169	-
M-3	3.~~42000~~41875%	17,588,000.00			4851,~~454~~777.9473	-	-	-	4851,~~454~~777.9473	4851,~~454~~777.9473	-
B-1	4.~~42000~~41875%	13,065,000.00			4649,~~518~~712.6678	-	-	-	4649,~~518~~712.6678	4649,~~518~~712.6678	-
B-2	4.~~87000~~86875%	11,055,000.00			4346,~~369~~348.3847	-	-	-	4346,~~369~~348.3847	4346,~~369~~348.3847	-
B-3	4.~~87000~~86875%	12,563,000.00			4952,~~285~~670.3581	-	-	-	4952,~~285~~670.3581	4952,~~285~~670.3581	-
X		17,587,764.55			43,~~195~~956,~~973~~237.0279	-	-	-	43,~~195~~956,~~973~~237.0279	43,~~195~~956,~~973~~237.0279	-
P		-			-	-	-	-	-	~~635~~505,~~019~~247.0434	-
UT-R		-			~~635~~505,~~019~~247.0434	-	-	-	~~635~~505,~~019~~247.0434	-	-
Total		~~935~~903,~~989~~679,~~210~~754.7815			65,~~176~~856,~~597~~394.6338	-	-	-	65,~~176~~856,~~597~~394.6338	65,~~176~~856,~~597~~394.6338	-
							Page 3 of 27				© COPYRIGHT 2003 Deutsche Bank
	Morgan Stanley ABS Capital I Inc. 2003-NC5
	Mortgage Pass-Through Certificates
	Collection Account Report for November 25, 2003 Distribution
	Collection Account Report for December 26, 2003 Distribution
	Collection Account Report
SUMMARY						GROUP 2	GROUP 1	TOTAL
	Principal Collections					129,~~413~~697,~~589~~448.1938	1920,~~895~~031,~~867~~690.4499	3229,~~309~~729,~~456~~139.6337
	Principal Other Accounts					0.00	0.00	0.00
	TOTAL NET PRINCIPAL					129,~~413~~697,~~589~~448.1938	1920,~~895~~031,~~867~~690.4499	3229,~~309~~729,~~456~~139.6337
	Interest Collections					2,~~198~~125,~~607~~304.1744	3,~~467~~349,~~277~~832.2931	5,~~665~~475,~~884~~136.4675
	Interest Withdrawals					0.00	0.00	0.00
	Interest Other Accounts					0.00	0.00	0.00
	Interest Fees					(7880,~~932~~187.8669)	(~~131~~132,~~973~~478.9161)	(~~210~~212,~~906~~666.7730)
	TOTAL NET INTEREST					2,~~155~~080,~~391~~850.9901	3,~~391~~275,~~534~~412.2739	5,~~546~~356,~~926~~262.2640
	TOTAL PRINCIPAL & INTEREST DISTRIBUTABLE					1411,~~568~~778,~~981~~298.1839	23,~~287~~307,~~401~~103.7138	3735,~~856~~085,~~382~~401.8977
	Prepayment Penalties Collected							~~635~~505,~~019~~247.0434
	TOTAL AVAILABLE FUNDS FOR DISTRIBUTION							3835,~~486~~585,~~054~~533.2675
PRINCIPAL - COLLECTIONS						GROUP 2	GROUP 1	TOTAL
	Scheduled Principal Received					~~292~~286,~~043~~653.4604	~~451~~439,~~232~~131.9583	~~743~~725,~~276~~784.4187
	Prepayments In Full					129,~~099~~400,~~959~~020.1407	19,~~268~~406,~~457~~322.6243	3128,~~368~~806,~~416~~342.7650
	Curtailments					2110,~~586~~775.5927	~~176~~186,~~176~~236.8773	197,~~763~~012.4600
	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					(~~140~~129,~~601~~883.1891)	(~~205~~188,~~614~~856.3822)	(~~346~~318,~~215~~740.5613)
	Advanced Principal					~~140~~129,~~601~~883.1891	~~205~~188,~~614~~856.3822	~~346~~318,~~215~~740.5613
	TOTAL PRINCIPAL COLLECTED					129,~~413~~697,~~589~~448.1938	1920,~~895~~031,~~867~~690.4499	3229,~~309~~729,~~456~~139.6337
				Page 4 of 27				© COPYRIGHT 2003 Deutsche Bank
	Morgan Stanley ABS Capital I Inc. 2003-NC5
	Mortgage Pass-Through Certificates
	Collection Account Report for November 25, 2003 Distribution
	Collection Account Report for December 26, 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,~~306~~226,~~251~~477.6397	3,~~634~~507,~~159~~380.5933	5,~~940~~733,~~411~~858.2230
	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	02,292.0083	02,292.0083
	Relief Act Interest Shortfalls					0.00	0.00	0.00
	Net Prepayment Interest Shortfalls					(35,~~717~~733.6826)	(5658,~~230~~058.8969)	(9193,~~948~~791.5795)
	Delinquent Interest					(1,~~123~~024,~~377~~651.3523)	(1,~~716~~578,~~961~~152.6560)	(2,~~840~~602,~~339~~803.0083)
	Interest Advanced					1959,~~051,450~~210.5796	1,~~606~~476,~~310~~370.2444	2,~~657~~435,~~760~~581.8140
	TOTAL INTEREST COLLECTED					2,~~198~~125,~~607~~304.1744	3,~~467~~349,~~277~~832.2931	5,~~665~~475,~~884~~136.4675
				Page 5 of 27				© COPYRIGHT 2003 Deutsche Bank
	Morgan Stanley ABS Capital I Inc. 2003-NC5
	Mortgage Pass-Through Certificates
	Collection Account Report for November 25, 2003 Distribution
	Collection Account Report for December 26, 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					7778,~~587~~888.0543	~~129~~130,~~809~~389.7607	~~207~~209,~~396~~277.8150
	Trustee Fees					1,~~345~~299.8126	2,~~164~~089.1554	3,~~509~~388.9680
	TOTAL INTEREST OTHER FEES					7880,~~932~~187.8669	~~131~~132,~~973~~478.9161	~~210~~212,~~906~~666.7730
				Page 6 of 27				© COPYRIGHT 2003 Deutsche Bank
	Morgan Stanley ABS Capital I Inc. 2003-NC5
	Mortgage Pass-Through Certificates
	Credit Enhancement Report for November 25, 2003 Distribution
	Credit Enhancement Report for December 26, 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							17,587,764.57
	Specified Subordinated Amount							17,587,764.56
	Senior Enhancement Percentage							21.1385%
				Page 7 of 27				© COPYRIGHT 2003 Deutsche Bank
	Morgan Stanley ABS Capital I Inc. 2003-NC5
	Mortgage Pass-Through Certificates
	Collateral Report for November 25, 2003 Distribution
	Collateral Report for December 26, 2003 Distribution
	Collateral Report
COLLATERAL						GROUP 2	GROUP 1	TOTAL
	Loan Count:
	Original					2121	4056	6177
	Prior					21,~~000~~952	3,~~831~~723	5,~~831~~675
	Prefunding					-	-	-
	Scheduled Paid Offs					-	-	-
	Full Voluntary Prepayments					(4849)	(~~108~~114)	(~~156~~163)
	Repurchases					-	-	-
	Liquidations					-	-	-
	Current					1,~~952~~903	3,~~723~~609	5,~~675~~512
	Principal Balance:
	Original					384,837,481.08	620,177,636.72	1,005,015,117.80
	Prior					~~358~~346,~~882~~468,~~396~~807.7355	~~577~~557,~~106~~210,~~814~~946.0662	~~935~~903,~~989~~679,~~210~~754.7917
	Prefunding					-	-	-
	Scheduled Principal					(~~292~~286,~~043~~653.4604)	(~~451~~439,~~232~~131.9583)	(~~743~~725,~~276~~784.4187)
	Partial and Full Voluntary Prepayments					(129,~~121~~410,~~545~~795.7334)	(19,~~444~~592,~~634~~559.4916)	(3129,~~566~~003,~~180~~354.2250)
	Repurchases					-	-	-
	Liquidations					-	-	-
	Current					~~346~~336,~~468~~771,~~807~~359.5517	~~557~~537,~~210~~179,~~946~~255.6263	~~903~~873,~~679~~950,~~754~~614.1780
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 27				© COPYRIGHT 2003 Deutsche Bank
	Morgan Stanley ABS Capital I Inc. 2003-NC5
	Mortgage Pass-Through Certificates
	Collateral Report for November 25, 2003 Distribution
	Collateral Report for December 26, 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.~~713945~~711445%	7.~~559735~~556645%	7.~~618805~~616000%
	Weighted Average Coupon Current					7.~~711445~~711440%	7.~~556645~~553435%	7.~~616000~~614014%
	Weighted Average Months to Maturity Original					348	354	352
	Weighted Average Months to Maturity Prior					~~344~~342	~~350~~349	~~348~~346
	Weighted Average Months to Maturity Current					~~342~~341	~~349~~348	~~346~~345
	Weighted Avg Remaining Amortization Term Original					347	354	351
	Weighted Avg Remaining Amortization Term Prior					~~343~~342	~~350~~349	~~347~~346
	Weighted Avg Remaining Amortization Term Current					~~342~~341	~~349~~348	~~346~~345
	Weighted Average Seasoning Original					3.41	3.31	3.35
	Weighted Average Seasoning Prior					78.4240	78.31	78.35
	Weighted Average Seasoning Current					89.4041	89.31	89.35
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 27				© COPYRIGHT 2003 Deutsche Bank
	Morgan Stanley ABS Capital I Inc. 2003-NC5
	Mortgage Pass-Through Certificates
	Collateral Report for November 25, 2003 Distribution
	Collateral Report for December 26, 2003 Distribution
	Collateral Report
ARM CHARACTERISTICS						GROUP 2	GROUP 1	TOTAL
	Weighted Average Margin Original					3.397%	5.345%
	Weighted Average Margin Prior					3.~~405~~411%	5.~~348~~339%
	Weighted Average Margin Current					3.~~411~~384%	5.~~339~~332%
	Weighted Average Max Rate Original					7.893%	12.450%
	Weighted Average Max Rate Prior					7.~~899~~912%	12.~~458~~438%
	Weighted Average Max Rate Current					7.~~912~~847%	12.~~438~~415%
	Weighted Average Min Rate Original					4.042%	6.502%
	Weighted Average Min Rate Prior					4.~~051~~058%	6.~~507~~496%
	Weighted Average Min Rate Current					4.~~058~~023%	6.~~496~~483%
	Weighted Average Cap Up Original					0.852%	1.285%
	Weighted Average Cap Up Prior					0.~~846~~848%	1.~~286~~284%
	Weighted Average Cap Up Current					0.~~848~~842%	1.~~284~~282%
	Weighted Average Cap Down Original					0.852%	1.285%
	Weighted Average Cap Down Prior					0.~~846~~848%	1.~~286~~284%
	Weighted Average Cap Down Current					0.~~848~~842%	1.~~284~~282%
Note: Original information refers to deal issue.
SERVICING FEES / ADVANCES						GROUP 2	GROUP 1	TOTAL
	Current Servicing Fees					7778,~~587~~888.0543	~~129~~130,~~809~~389.7607	~~207~~209,~~396~~277.8150
	Delinquent Servicing Fees					7165,~~926~~440.7827	~~110~~101,~~651~~782.4116	~~182~~167,~~578~~222.1943
	TOTAL SERVICING FEES					~~149~~144,~~513~~328.8370	~~240~~232,~~461~~171.1723	~~389~~376,~~975~~499.0093
	Prepayment Interest Shortfall					35,~~717~~733.6826	5658,~~230~~058.8969	9193,~~948~~791.5795
	Compensating Interest					(35,~~717~~733.6826)	(5658,~~230~~058.8969)	(9193,~~948~~791.5795)
	Delinquent Servicing Fees					(7165,~~926~~440.7827)	(~~110~~101,~~651~~782.4116)	(~~182~~167,~~578~~222.1943)
	COLLECTED SERVICING FEES					7778,~~587~~888.0543	~~129~~130,~~809~~389.7607	~~207~~209,~~396~~277.8150
	Aggregate Advances with respect to this Distribution					1,~~192~~089,~~051~~094.7587	1,~~811~~665,~~924~~226.6266	32,~~003~~754,~~976~~321.3753
	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					(35,~~717~~733.6826)	(5658,~~230~~058.8969)	0.00
	Net Monthly Excess Cash Flow							43,~~195~~956,~~973~~237.0279
	Ending Pool Stated Principal Balance					~~346~~336,~~468~~771,~~807~~359.5517	~~557~~537,~~210~~179,~~946~~255.6263	~~903~~873,~~679~~950,~~754~~614.1780
				Page 10 of 27				© COPYRIGHT 2003 Deutsche Bank
	Morgan Stanley ABS Capital I Inc. 2003-NC5
	Mortgage Pass-Through Certificates
	Delinquency Report for November 25, 2003 Distribution
	Delinquency Report for December 26, 2003 Distribution
	Delinquency Report - Total
				<1 PAYMENT	1 PAYMENT	2 PAYMENTS	3+ PAYMENTS	TOTAL
DELINQUENT		Balance			1312,~~026~~523,~~435~~024.8046	21,~~496~~673,~~763~~664.5054	12,~~240~~046,~~212~~483.6941	16,~~763~~243,~~411~~172.9941
		% Balance			1.4443%	0.2819%	0.1423%	1.86%
		# Loans			7475	219	716	~~102~~100
		% # Loans			1.3036%	0.3716%	0.1229%	1.8081%
FORECLOSURE		Balance		~~297~~270,~~892~~868.4794	~~525~~1,~~277~~490,490.1507	3,~~025~~017,~~683~~459.2844	8,~~037~~995,~~590~~051.7326	1113,~~886~~773,~~443~~869.6371
		% Balance		0.03%	0.0617%	0.3335%	01.8903%	1.3258%
		# Loans		12	58	1819	5261	7690
		% # Loans		0.0204%	0.0915%	0.3234%	01.9211%	1.3463%
BANKRUPTCY		Balance		3,~~265~~439,~~367~~563.8751	~~359~~533,~~597~~789.1129	36397,~~479~~723.0868	~~652~~1,~~896~~345,438.0678	45,~~314~~716,~~340~~515.1226
		% Balance		0.3639%	0.0406%	0.0005%	0.0715%	0.4865%
		# Loans		2725	34	14	711	3844
		% # Loans		0.4845%	0.0507%	0.0207%	0.1220%	0.6780%
REO		Balance		-	-	-	~~106~~559,~~852~~516.3729	~~106~~559,~~852~~516.3729
		% Balance		0.00%	0.00%	0.00%	0.0106%	0.0106%
		# Loans		-	-	-	25	25
		% # Loans		0.00%	0.00%	0.00%	0.0409%	0.0409%
TOTAL		Balance		3,~~563~~710,~~260~~432.3445	1314,~~911~~547,~~310~~303.0682	5,~~558~~088,~~925~~847.8666	1012,~~037~~946,~~551~~489.8574	3336,~~071~~293,~~048~~073.1167
		% Balance		0.3942%	1.5466%	0.6258%	1.1148%	34.6615%
		# Loans		2827	8287	4032	6893	~~218~~239
		% # Loans		0.49%	1.4458%	0.7058%	1.2069%	34.8434%
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 27				© COPYRIGHT 2003 Deutsche Bank
	Morgan Stanley ABS Capital I Inc. 2003-NC5
	Mortgage Pass-Through Certificates
	Delinquency Report for November 25, 2003 Distribution
	Delinquency Report for December 26, 2003 Distribution
	Delinquency Report - Group 1 Group
				<1 PAYMENT	1 PAYMENT	2 PAYMENTS	3+ PAYMENTS	TOTAL
DELINQUENT		Balance			87,~~001~~366,~~329~~124.6198	1,~~557~~673,~~903~~664.7754	~~427~~856,~~901~~334.2563	9,~~987~~896,~~134~~124.6315
		% Balance			1.4437%	0.2831%	0.0816%	1.7984%
		# Loans			5550	149	38	7267
		% # Loans			1.4839%	0.3825%	0.0822%	1.9386%
FORECLOSURE		Balance		~~297~~270,~~892~~868.4794	~~525~~976,~~277~~701.1586	1,~~951~~859,~~789~~251.4630	56,~~291~~034,~~441~~019.2912	89,~~066~~140,~~400~~841.3722
		% Balance		0.05%	0.0918%	0.35%	01.9512%	1.4570%
		# Loans		12	56	14	3946	5968
		% # Loans		0.0306%	0.1317%	0.3839%	1.0527%	1.5888%
BANKRUPTCY		Balance		2,~~150~~225,~~889~~654.8546	~~293~~435,~~465~~049.7817	36364,~~479~~670.0807	~~570~~690,~~891~~773.8222	3,~~051~~716,~~726~~146.5392
		% Balance		0.3941%	0.0508%	0.0107%	0.1013%	0.5569%
		# Loans		18	2	13	68	2731
		% # Loans		0.4850%	0.0506%	0.0308%	0.1622%	0.7386%
REO		Balance		-	-	-	51504,~~932~~628.6488	51504,~~932~~628.6488
		% Balance		0.00%	0.00%	0.00%	0.0109%	0.0109%
		# Loans		-	-	-	14	14
		% # Loans		0.00%	0.00%	0.00%	0.0311%	0.0311%
TOTAL		Balance		2,~~448~~496,~~782~~523.3240	8,~~820~~777,~~072~~876.5401	3,~~546~~897,~~172~~585.3191	68,~~342~~085,~~167~~755.0085	2123,~~157~~257,~~194~~741.17
		% Balance		0.4446%	1.5863%	0.6473%	1.1451%	34.8033%
		# Loans		1920	6258	2926	4966	~~159~~170
		% # Loans		0.5155%	1.6761%	0.7872%	1.3283%	4.2771%
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 27				© COPYRIGHT 2003 Deutsche Bank
	Morgan Stanley ABS Capital I Inc. 2003-NC5
	Mortgage Pass-Through Certificates
	Delinquency Report for November 25, 2003 Distribution
	Delinquency Report for December 26, 2003 Distribution
	Delinquency Report - Group 2 Group
				<1 PAYMENT	1 PAYMENT	2 PAYMENTS	3+ PAYMENTS	TOTAL
DELINQUENT		Balance			5,~~025~~156,~~106~~899.1948	~~938,859.73~~-	~~812~~1,~~311~~190,148.4478	6,~~776~~347,~~277~~048.3626
		% Balance			1.4553%	0.2700%	0.2335%	1.9688%
		# Loans			1925	7-	48	3033
		% # Loans			01.9731%	0.3600%	0.2042%	1.5473%
FORECLOSURE		Balance		-	-513,788.21	1,~~073~~158,~~893~~208.8214	2,~~746~~961,~~149~~032.4414	34,~~820~~633,~~043~~028.2649
		% Balance		0.00%	0.0015%	0.3134%	0.7988%	1.1038%
		# Loans		-	-2	45	1315	1722
		% # Loans		0.00%	0.0011%	0.2026%	0.6779%	01.8716%
BANKRUPTCY		Balance		1,~~114~~213,~~478~~909.0205	6698,~~131~~740.3312	-33,053.61	82654,~~004~~665.2456	12,~~262~~000,~~613~~368.5934
		% Balance		0.3236%	0.0203%	0.0001%	0.0219%	0.3659%
		# Loans		97	12	-1	13	1113
		% # Loans		0.4637%	0.0511%	0.0005%	0.0516%	0.5668%
REO		Balance		-	-	-	54,~~919~~887.7341	54,~~919~~887.7341
		% Balance		0.00%	0.00%	0.00%	0.02%	0.02%
		# Loans		-	-	-	1	1
		% # Loans		0.00%	0.00%	0.00%	0.05%	0.05%
TOTAL		Balance		1,~~114~~213,~~478~~909.0205	5,~~091~~769,~~237~~427.5281	21,~~012~~191,~~753~~261.5575	34,~~695~~860,~~384~~733.8589	1113,~~913~~035,~~853~~332.9450
		% Balance		0.3236%	1.4771%	0.5835%	1.0744%	3.4487%
		# Loans		97	2029	116	1927	5969
		% # Loans		0.4637%	1.0252%	0.5632%	01.9742%	3.0263%
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 27				© COPYRIGHT 2003 Deutsche Bank
	Morgan Stanley ABS Capital I Inc. 2003-NC5
	Mortgage Pass-Through Certificates
	REO Report for November 25, 2003 Distribution
	REO Report for December 26, 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 Loan Count = 3				Loan Group 1 = Group 1 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 Original Principal Balance = 456,700.00				Loan Group 2 = Group 2 Group; REO Book Value = Not Available
Total Current Balance = 54,919.73
Total Current Balance = 452,730.72
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
320101199 2		55,200.00	54,919.73	May-01-03	8.990%	CO - 80.00%	360	Jan-31-03
320107428 1		91,200.00	90,600.06	Jun-01-03	8.250%	TX - 80.00%	360	Feb-04-03
320109499 1		292,000.00	289,082.10	May-01-03	6.100%	NC - 80.00%	360	Jan-31-03
320146475 1		73,500.00	73,048.56	May-01-03	8.050%	NC - 86.47%	360	Feb-25-03
				Page 14 of 27				© COPYRIGHT 2003 Deutsche Bank
	Morgan Stanley ABS Capital I Inc. 2003-NC5
	Mortgage Pass-Through Certificates
	Foreclosure Report for November 25, 2003 Distribution
	Foreclosure Report for December 26, 2003 Distribution
	Foreclosure Report - Mortgage Loans that Become Foreclosure During Current Distribution
SUMMARY				LOAN GROUP
Total Loan Count = 29				Loan Group 1 = Group 1 Group
Total Loan Count = 32				Loan Group 1 = Group 1 Group
Total Original Principal Balance = 4,544,115.00				Loan Group 2 = Group 2 Group
Total Original Principal Balance = 5,183,705.00				Loan Group 2 = Group 2 Group
Total Current Balance = 4,520,550.59
Total Current Balance = 5,151,933.10
Loan Number		Original	Stated		Current	State &
&		Principal	Principal	Paid to	Note	LTV at	Original	Origination
Loan Group		Balance	Balance	Date	Rate	Origination	Term	Date
320090467 1		208,000.00	206,538.76	Jul-01-03	6.750%	FL - 80.00%	360	Feb-07-03
320089733 1		259,250.00	257,792.76	Aug-01-03	8.490%	MI - 85.00%	360	Feb-05-03
320091705 1		196,000.00	194,765.21	Jul-01-03	8.500%	CA - 80.00%	360	Jan-31-03
320090624 1		129,500.00	128,673.36	Sep-01-03	9.250%	WA - 70.00%	360	Dec-23-02
320096886 1		74,400.00	74,065.39	Jul-01-03	8.990%	MO - 80.00%	360	Feb-24-03
320104094 1		58,410.00	58,009.88	Aug-01-03	7.500%	UT - 90.00%	360	Feb-07-03
320103948 1		244,000.00	242,787.73	Jul-01-03	8.500%	CA - 80.00%	360	Feb-14-03
320111453 1		225,000.00	223,198.51	Sep-01-03	7.100%	IL - 90.00%	360	Feb-20-03
320107428 1		91,200.00	90,661.92	Jun-01-03	8.250%	TX - 80.00%	360	Feb-04-03
320113780 1		35,000.00	34,848.18	Jul-01-03	9.750%	IL - 77.78%	360	Feb-18-03
320111362 1		292,000.00	290,138.65	Jul-01-03	7.250%	CA - 80.00%	360	Feb-27-03
320113822 1		108,000.00	107,223.07	Jun-01-03	7.250%	TX - 80.00%	360	Feb-14-03
320113061 1		151,300.00	150,489.20	Jun-01-03	8.125%	OH - 85.00%	360	Feb-11-03
320117385 1		141,600.00	140,990.84	Sep-01-03	9.800%	CA - 80.00%	360	Feb-21-03
320114895 1		104,000.00	103,664.97	Jun-01-03	12.000%	CA - 65.00%	360	Jan-31-03
320120751 1		63,000.00	62,616.18	Aug-01-03	8.100%	RI - 42.28%	360	Feb-03-03
320115157 1		125,000.00	124,492.31	Jul-01-03	9.500%	CA - 77.64%	360	Feb-24-03
320121833 1		304,500.00	302,515.01	Sep-01-03	7.750%	CA - 70.00%	360	Feb-11-03
320126352 1		140,625.00	140,005.68	Jul-01-03	9.600%	DC - 75.00%	360	Feb-11-03
320122260 1		124,000.00	123,090.44	Sep-01-03	7.150%	CA - 80.00%	360	Feb-27-03
320128903 1		80,800.00	80,406.62	Jul-01-03	8.600%	AR - 80.00%	360	Feb-07-03
320123375 1		204,000.00	202,458.53	Dec-01-03	7.650%	HI - 80.00%	360	Feb-13-03
320132277 1		65,400.00	65,154.02	Aug-01-03	9.850%	NC - 84.94%	360	Feb-11-03
320123409 1		178,100.00	177,242.88	Aug-01-03	9.250%	CO - 79.16%	360	Feb-04-03
320132863 1		212,500.00	211,638.44	May-01-03	9.490%	MI - 85.00%	360	Feb-26-03
320129133 1		92,225.00	91,790.20	Aug-01-03	9.350%	MI - 85.00%	360	Feb-06-03
320133911 1		49,300.00	49,023.04	Jul-01-03	7.890%	KY - 85.00%	360	Feb-18-03
320130545 1		195,000.00	194,032.12	Aug-01-03	9.100%	MI - 75.00%	360	Feb-13-03
320134018 1		111,600.00	110,935.99	May-01-03	7.600%	OR - 90.00%	360	Feb-19-03
320135072 1		113,750.00	113,017.49	Aug-01-03	8.100%	FL - 65.00%	360	Feb-26-03
320136948 1		109,650.00	109,075.78	Jun-01-03	8.240%	FL - 85.00%	360	Feb-28-03
320135452 1		168,000.00	167,147.12	Jul-01-03	8.990%	CO - 80.00%	360	Feb-26-03
320138233 1		206,125.00	205,100.87	Aug-01-03	8.500%	CA - 85.00%	360	Feb-19-03
320135551 1		136,800.00	135,992.90	Aug-01-03	8.250%	CO - 90.00%	360	Feb-24-03
320139041 1		164,000.00	163,160.04	May-01-03	8.350%	MN - 80.00%	360	Feb-18-03
320139314 1		77,200.00	76,956.38	Aug-01-03	11.250%	TX - 80.00%	360	Feb-13-03
320140163 1		73,500.00	73,053.90	Aug-01-03	7.500%	CO - 75.00%	360	Feb-14-03
320142193 1		58,500.00	58,233.70	Sep-01-03	9.600%	MO - 73.13%	360	Feb-21-03
320140759 1		98,800.00	98,319.00	Aug-01-03	8.600%	MN - 80.00%	360	Feb-18-03
320144256 1		142,800.00	142,007.08	Jul-01-03	8.550%	CO - 85.00%	360	Feb-27-03
320144041 1		50,000.00	49,759.40	Jul-01-03	10.350%	WA - 55.56%	360	Feb-19-03
320146814 1		180,000.00	178,958.81	Aug-01-03	8.350%	MI - 80.00%	360	Feb-25-03
320148356 1		90,000.00	89,552.78	Jul-01-03	8.500%	NE - 90.00%	360	Feb-26-03
320150394 1		120,000.00	119,330.45	Jul-01-03	8.550%	CA - 60.00%	360	Feb-28-03
320148653 1		84,000.00	83,649.36	Aug-01-03	9.350%	TN - 80.00%	360	Feb-13-03
320151145 1		61,200.00	60,827.89	Jul-01-03	8.100%	OH - 85.00%	360	Feb-28-03
320091671 2		75,500.00	75,059.00	Jul-01-03	8.300%	TX - 45.21%	360	Jan-31-03
320151673 1		160,000.00	159,146.85	Aug-01-03	8.750%	NV - 82.69%	360	Feb-27-03
320092877 2		184,500.00	182,790.81	Jul-01-03	6.500%	CA - 90.00%	360	Jan-31-03
320090772 2		110,520.00	109,872.82	Aug-01-03	9.750%	IL - 90.00%	360	Nov-26-02
320122419 2		452,000.00	450,106.93	Jul-01-03	9.350%	MA - 80.00%	360	Feb-10-03
320095896 2		424,800.00	422,011.28	Aug-01-03	8.750%	NE - 90.00%	360	Dec-26-02
320136021 2		68,000.00	67,694.26	Jun-01-03	8.990%	FL - 85.00%	360	Feb-11-03
320113343 2		80,800.00	80,389.77	Aug-01-03	8.990%	OK - 80.00%	360	Feb-11-03
320146699 2		373,915.00	372,523.46	Jun-01-03	9.900%	MS - 85.00%	360	Feb-24-03
320130701 2		364,500.00	361,878.09	Sep-01-03	7.250%	IL - 90.00%	360	Feb-10-03
320149776 2		368,000.00	365,937.08	Jul-01-03	7.900%	NY - 80.00%	360	Feb-28-03
320136104 2		165,000.00	163,836.10	Jul-01-03	7.350%	MN - 78.57%	360	Feb-10-03
320145238 2		153,000.00	151,910.12	Sep-01-03	7.300%	CO - 85.00%	360	Feb-19-03
320146921 2		493,000.00	489,936.04	Aug-01-03	7.990%	CA - 85.00%	360	Feb-25-03
320146970 2		56,250.00	55,998.23	Aug-01-03	9.600%	IN - 74.75%	360	Feb-13-03
				Page 15 of 27				© COPYRIGHT 2003 Deutsche Bank
	Morgan Stanley ABS Capital I Inc. 2003-NC5
	Mortgage Pass-Through Certificates
	Prepayment Report for November 25, 2003 Distribution
	Prepayment Report for December 26, 2003 Distribution
	Prepayment Report - Voluntary Prepayments
VOLUNTARY PREPAYMENTS						GROUP 2	GROUP 1	TOTAL
	Current
	Number of Paid in Full Loans					4849	~~108~~114	~~156~~163
	Number of Repurchased Loans					-	-	-
	Total Number of Loans Prepaid in Full					4849	~~108~~114	~~156~~163
	Paid in Full Balance					129,~~099~~400,~~959~~020.1407	19,~~268~~406,~~457~~322.6243	3128,~~368~~806,~~416~~342.7650
	Repurchased Loans Balance					-	-	-
	Curtailments Amount					2110,~~586~~775.5927	~~176~~186,~~176~~236.8773	197,~~763~~012.4600
	Total Prepayment Amount					129,~~121~~410,~~545~~795.7334	19,~~444~~592,~~634~~559.4916	3129,~~566~~003,~~180~~354.2250
	Cumulative
	Number of Paid in Full Loans					~~169~~218	~~333~~447	~~502~~665
	Number of Repurchased Loans					-	-	-
	Total Number of Loans Prepaid in Full					~~169~~218	~~333~~447	~~502~~665
	Paid in Full Balance					3645,~~244~~644,~~570~~591.9704	5979,~~712~~118,~~257~~580.5902	95124,~~956~~763,~~828~~171.5606
	Repurchased Loans Balance					-	-	-
	Curtailments Amount					~~307~~318,~~335~~110.1340	~~441~~627,~~007~~244.8457	~~748~~945,~~342~~354.97
	Total Prepayment Amount					3645,~~551~~962,~~906~~701.1044	6079,~~153~~745,~~265~~824.4359	96125,~~705~~708,~~171~~526.5303
SPACE INTENTIONALLY LEFT BLANK
Total Prepayments by Groups (in thousands of dollars)					Total Prepayments (in thousands of dollars)
				Page 16 of 27				© COPYRIGHT 2003 Deutsche Bank
	Morgan Stanley ABS Capital I Inc. 2003-NC5
	Mortgage Pass-Through Certificates
	Prepayment Report for November 25, 2003 Distribution
	Prepayment Report for December 26, 2003 Distribution
	Prepayment Report - Voluntary Prepayments
VOLUNTARY PREPAYMENT RATES						GROUP 2	GROUP 1	TOTAL
	SMM					32.3872%	3.3752%	3.3821%
	3 Months Avg SMM					2.3767%	2.3698%	2.3786%
	12 Months Avg SMM
	Avg SMM Since Cut-off					1.6681%	1.6996%	1.6890%
	CPR					3328.8116%	3334.7494%	3332.7741%
	3 Months Avg CPR					2427.9970%	2430.9548%	2429.9742%
	12 Months Avg CPR
	Avg CPR Since Cut-off					1819.1566%	1821.5210%	1820.3855%
	PSA					~~2011~~1496.41%	~~2030~~1877.6813%	~~2023~~1734.2403%
	3 Months Avg PSA Approximation					~~1685~~1646.7490%	~~1707~~1834.1611%	~~1698~~1762.8842%
	12 Months Avg PSA Approximation
	Avg PSA Since Cut-off Approximation					~~1535~~1533.2644%	~~1593~~1671.6681%	~~1571~~1618.0638%
	Group 1
	Group 2
CPR by Groups					Total CPR
PSA by Groups					Total PSA
				Page 17 of 27				© COPYRIGHT 2003 Deutsche Bank
	Morgan Stanley ABS Capital I Inc. 2003-NC5
	Mortgage Pass-Through Certificates
	Prepayment Report for November 25, 2003 Distribution
	Prepayment Report for December 26, 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 27				© COPYRIGHT 2003 Deutsche Bank
	Morgan Stanley ABS Capital I Inc. 2003-NC5
	Mortgage Pass-Through Certificates
	Prepayment Detail Report for November 25, 2003 Distribution
	Prepayment Detail Report for December 26, 2003 Distribution
	Prepayment Detail Report - Loans Prepaid in Full During Current Distribution
SUMMARY						LOAN GROUP
Total Loan Count = 156						Loan Group 1 = Group 1 Group
Total Loan Count = 162						Loan Group 1 = Group 1 Group
Total Original Principal Balance = 31,560,311.00						Loan Group 2 = Group 2 Group
Total Original Principal Balance = 28,998,106.00						Loan Group 2 = Group 2 Group
Total Prepayment Amount = 31,368,416.76
Total Prepayment Amount = 28,806,342.50
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
320089451 1			187,000.00	185,853.77	Oct-16-03	6.750%	CA - 70.57%	Paid Off - 360	Feb-28-03
320090061 1			42,400.00	41,239.90	Nov-29-03	8.990%	TN - 80.00%	Paid Off - 180	Jan-06-03
320089618 1			123,250.00	122,479.48	Oct-21-03	8.990%	MI - 85.00%	Paid Off - 360	Oct-14-02
320090343 1			216,000.00	214,503.39	Nov-07-03	7.990%	NY - 80.00%	Paid Off - 360	Dec-23-02
320089956 1			133,450.00	132,786.95	Oct-07-03	8.500%	CA - 85.00%	Paid Off - 360	Feb-05-03
320091150 1			150,000.00	149,435.83	Nov-03-03	9.850%	NY - 53.57%	Paid Off - 360	Feb-05-03
320090160 1			70,000.00	67,963.64	Oct-01-03	6.990%	CA - 48.61%	Paid Off - 180	Jan-03-03
320091952 1			175,000.00	173,770.62	Nov-26-03	6.750%	CT - 79.55%	Paid Off - 360	Feb-14-03
320091432 1			300,000.00	298,166.61	Oct-31-03	7.490%	CA - 74.44%	Paid Off - 360	Jan-23-03
320092034 1			242,100.00	240,248.62	Nov-19-03	7.990%	IL - 90.00%	Paid Off - 360	Nov-27-02
320091887 1			173,700.00	172,842.24	Oct-07-03	7.850%	IL - 90.00%	Paid Off - 360	Feb-06-03
320092216 1			47,866.00	47,620.80	Nov-18-03	8.350%	FL - 54.39%	Paid Off - 360	Feb-27-03
320092125 1			164,000.00	163,250.73	Oct-09-03	8.300%	CA - 80.00%	Paid Off - 360	Feb-28-03
320092562 1			67,000.00	66,518.06	Nov-04-03	7.250%	IA - 72.83%	Paid Off - 360	Jan-28-03
320092844 1			208,000.00	205,960.05	Oct-30-03	5.750%	CA - 80.00%	Paid Off - 360	Jan-08-03
320094089 1			237,500.00	235,702.97	Nov-06-03	6.990%	NY - 95.00%	Paid Off - 360	Jan-08-03
320093248 1			300,000.00	297,257.68	Oct-09-03	6.000%	IL - 56.60%	Paid Off - 360	Jan-02-03
320094824 1			125,000.00	123,986.28	Nov-03-03	6.750%	NY - 69.44%	Paid Off - 360	Jan-22-03
320093479 1			161,500.00	160,798.93	Oct-20-03	8.490%	MI - 85.00%	Paid Off - 360	Feb-05-03
320097819 1			244,800.00	243,451.71	Nov-26-03	7.990%	CA - 90.00%	Paid Off - 360	Feb-26-03
320094071 1			63,000.00	62,621.21	Oct-31-03	6.850%	FL - 66.32%	Paid Off - 360	Feb-11-03
320098056 1			312,000.00	308,723.23	Nov-20-03	5.990%	CA - 80.00%	Paid Off - 360	Dec-24-02
320094493 1			244,850.00	242,814.15	Oct-01-03	6.500%	CA - 83.00%	Paid Off - 360	Jan-08-03
320098106 1			227,300.00	225,452.68	Nov-10-03	6.750%	RI - 79.75%	Paid Off - 360	Jan-02-03
320094568 1			55,000.00	54,735.24	Oct-27-03	9.250%	WI - 47.83%	Paid Off - 360	Dec-16-02
320098387 1			120,000.00	119,254.14	Nov-21-03	7.990%	NH - 69.77%	Paid Off - 360	Jan-23-03
320095417 1			128,000.00	127,099.76	Oct-07-03	6.750%	NV - 80.00%	Paid Off - 360	Feb-04-03
320098999 1			126,000.00	125,135.35	Nov-20-03	7.490%	SC - 70.00%	Paid Off - 360	Jan-08-03
320096712 1			180,000.00	178,885.86	Oct-23-03	7.400%	NJ - 80.00%	Paid Off - 360	Jan-31-03
320100357 1			107,000.00	105,162.79	Nov-03-03	7.250%	MA - 34.74%	Paid Off - 240	Jan-06-03
320097009 1			220,000.00	218,562.88	Oct-22-03	7.125%	FL - 59.95%	Paid Off - 360	Jan-06-03
320100522 1			147,000.00	146,094.18	Nov-17-03	9.350%	IL - 74.62%	Paid Off - 360	Feb-03-03
320097645 1			178,550.00	177,309.09	Oct-20-03	7.000%	MA - 51.01%	Paid Off - 360	Jan-10-03
320100597 1			168,000.00	166,411.15	Nov-18-03	7.150%	NJ - 74.67%	Paid Off - 360	Feb-05-03
320099229 1			160,650.00	160,077.59	Oct-15-03	9.450%	MD - 85.00%	Paid Off - 360	Feb-10-03
320100977 1			81,900.00	81,513.26	Nov-06-03	8.750%	FL - 65.00%	Paid Off - 360	Feb-20-03
320100217 1			271,800.00	269,308.65	Oct-24-03	5.990%	CA - 90.00%	Paid Off - 360	Jan-10-03
320101058 1			280,000.00	277,639.06	Nov-28-03	6.990%	NJ - 84.85%	Paid Off - 360	Jan-07-03
320100332 1			108,500.00	107,933.02	Oct-17-03	8.250%	CA - 83.46%	Paid Off - 360	Feb-10-03
320101470 1			148,750.00	147,751.71	Nov-28-03	8.250%	CA - 85.00%	Paid Off - 360	Jan-14-03
320101611 1			300,000.00	297,353.89	Oct-28-03	6.500%	NY - 80.00%	Paid Off - 360	Jan-03-03
320101991 1			117,800.00	117,184.34	Nov-26-03	8.250%	MA - 56.36%	Paid Off - 360	Feb-12-03
320101629 1			146,200.00	145,533.74	Oct-23-03	8.250%	FL - 85.00%	Paid Off - 360	Feb-07-03
320102767 1			154,800.00	153,601.18	Nov-24-03	6.870%	MD - 90.00%	Paid Off - 360	Jan-03-03
320102544 1			220,000.00	218,213.55	Oct-27-03	5.990%	IL - 80.00%	Paid Off - 360	Jan-13-03
320103096 1			234,000.00	231,918.34	Nov-20-03	6.150%	NY - 90.00%	Paid Off - 360	Feb-11-03
320102601 1			129,000.00	126,867.29	Oct-06-03	6.500%	NV - 68.62%	Paid Off - 360	Jan-06-03
320103708 1			35,000.00	34,827.81	Nov-10-03	8.990%	ID - 51.47%	Paid Off - 360	Feb-04-03
320102775 1			142,000.00	140,998.46	Oct-01-03	6.750%	IL - 47.33%	Paid Off - 360	Feb-27-03
320104979 1			251,200.00	249,999.20	Nov-07-03	8.990%	CA - 79.24%	Paid Off - 360	Feb-28-03
320102882 1			240,000.00	238,829.20	Oct-17-03	8.590%	CA - 80.00%	Paid Off - 360	Jan-31-03
320105307 1			144,500.00	143,519.22	Nov-12-03	7.150%	VA - 85.00%	Paid Off - 360	Feb-10-03
320103450 1			329,000.00	327,862.70	Oct-27-03	10.250%	CA - 67.84%	Paid Off - 360	Feb-11-03
320105703 1			165,750.00	164,901.08	Nov-04-03	8.350%	NJ - 65.00%	Paid Off - 360	Feb-04-03
320103492 1			234,000.00	232,313.78	Oct-20-03	6.625%	NJ - 79.86%	Paid Off - 360	Jan-31-03
320106404 1			78,000.00	77,483.38	Nov-18-03	7.670%	CA - 78.00%	Paid Off - 360	Jan-28-03
320104524 1			101,000.00	100,491.20	Oct-01-03	7.750%	FL - 69.18%	Paid Off - 360	Feb-12-03
320106701 1			282,150.00	280,217.66	Nov-14-03	7.500%	CO - 95.00%	Paid Off - 360	Feb-25-03
320104847 1			204,000.00	202,554.13	Oct-28-03	5.990%	IL - 61.82%	Paid Off - 360	Feb-21-03
320108764 1			150,000.00	149,454.79	Nov-03-03	10.590%	AR - 75.00%	Paid Off - 360	Jan-31-03
320105836 1			215,000.00	213,916.96	Oct-01-03	7.750%	NH - 87.76%	Paid Off - 360	Feb-13-03
320108822 1			285,000.00	283,418.22	Nov-21-03	7.950%	CA - 95.00%	Paid Off - 360	Feb-11-03
320105984 1			136,000.00	135,187.51	Oct-07-03	8.500%	FL - 85.00%	Paid Off - 360	Feb-05-03
320109465 1			56,790.00	56,210.91	Nov-14-03	8.350%	IL - 90.00%	Paid Off - 360	Feb-20-03
320106479 1			215,000.00	213,768.81	Oct-22-03	7.100%	MA - 69.35%	Paid Off - 360	Feb-05-03
320109804 1			140,000.00	138,890.39	Nov-28-03	6.750%	CO - 80.00%	Paid Off - 360	Feb-28-03
320108541 1			207,900.00	207,147.51	Oct-30-03	9.375%	PA - 90.00%	Paid Off - 360	Feb-18-03
320110281 1			150,300.00	149,322.99	Nov-03-03	7.150%	IL - 90.00%	Paid Off - 360	Feb-10-03
320109010 1			175,500.00	174,726.04	Oct-31-03	9.125%	FL - 90.00%	Paid Off - 360	Jan-28-03
320110406 1			200,000.00	198,594.97	Nov-04-03	6.750%	CT - 74.07%	Paid Off - 360	Feb-28-03
320110497 1			184,000.00	183,440.26	Oct-17-03	10.850%	MA - 80.00%	Paid Off - 360	Feb-06-03
320110588 1			144,700.00	143,928.46	Nov-17-03	8.750%	MD - 79.94%	Paid Off - 360	Feb-06-03
320111735 1			118,400.00	117,787.32	Oct-08-03	7.615%	NH - 80.00%	Paid Off - 360	Feb-28-03
320110711 1			138,000.00	137,007.32	Nov-18-03	7.250%	CA - 32.09%	Paid Off - 360	Feb-06-03
320111867 1			269,000.00	267,017.27	Oct-29-03	6.500%	CA - 64.82%	Paid Off - 360	Feb-19-03
320111214 1			208,000.00	206,658.44	Nov-03-03	7.500%	MD - 80.00%	Paid Off - 360	Feb-05-03
320112634 1			120,000.00	118,604.90	Oct-22-03	7.850%	IL - 80.00%	Paid Off - 360	Feb-28-03
320111305 1			324,000.00	321,356.02	Nov-03-03	6.990%	MA - 80.00%	Paid Off - 360	Feb-05-03
320113905 1			284,750.00	282,983.12	Oct-28-03	7.300%	MD - 85.00%	Paid Off - 360	Feb-20-03
320112758 1			204,000.00	202,732.17	Nov-25-03	7.990%	CA - 85.00%	Paid Off - 360	Feb-04-03
320113939 1			295,999.00	295,825.84	Oct-29-03	4.920%	CA - 80.00%	Paid Off - 300	Feb-24-03
320113459 1			136,000.00	135,089.67	Nov-21-03	7.000%	IL - 85.00%	Paid Off - 360	Feb-03-03
320114564 1			105,000.00	104,332.55	Oct-07-03	7.500%	MI - 84.00%	Paid Off - 360	Feb-10-03
320114143 1			225,000.00	223,824.21	Nov-25-03	8.250%	NJ - 77.59%	Paid Off - 360	Feb-11-03
320114739 1			85,600.00	85,005.75	Oct-16-03	6.100%	MD - 80.00%	Paid Off - 360	Feb-25-03
320115199 1			164,000.00	162,900.22	Nov-25-03	6.990%	CA - 54.67%	Paid Off - 360	Feb-21-03
320115264 1			80,000.00	79,409.38	Oct-20-03	7.500%	CA - 69.57%	Paid Off - 360	Feb-11-03
320115900 1			279,000.00	276,903.82	Nov-18-03	6.400%	CT - 79.71%	Paid Off - 360	Feb-28-03
					Page 19 of 27				© COPYRIGHT 2003 Deutsche Bank
	Morgan Stanley ABS Capital I Inc. 2003-NC5
	Mortgage Pass-Through Certificates
	Prepayment Detail Report for November 25, 2003 Distribution
	Prepayment Detail Report for December 26, 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
320115637 1			148,000.00	147,325.56	Oct-17-03	8.250%	CA - 74.00%	Paid Off - 360	Feb-19-03
320116056 1			207,000.00	205,433.74	Nov-26-03	6.990%	CA - 90.00%	Paid Off - 360	Feb-18-03
320115819 1			199,750.00	198,882.95	Oct-02-03	8.490%	NJ - 85.00%	Paid Off - 360	Feb-18-03
320116635 1			96,000.00	95,403.42	Nov-24-03	7.990%	WA - 80.00%	Paid Off - 360	Feb-06-03
320117062 1			127,500.00	126,876.61	Oct-28-03	8.350%	DC - 85.00%	Paid Off - 360	Feb-06-03
320117732 1			130,000.00	128,919.10	Nov-25-03	6.500%	WA - 57.91%	Paid Off - 360	Feb-04-03
320117146 1			200,000.00	198,580.18	Oct-08-03	6.750%	NY - 66.67%	Paid Off - 360	Feb-03-03
320117757 1			84,000.00	83,524.33	Nov-26-03	7.850%	FL - 80.00%	Paid Off - 360	Feb-12-03
320117542 1			100,000.00	99,558.41	Oct-02-03	8.890%	CO - 58.14%	Paid Off - 360	Feb-28-03
320118631 1			114,000.00	113,273.25	Nov-14-03	7.250%	CA - 73.55%	Paid Off - 360	Feb-28-03
320119001 1			35,000.00	34,859.93	Oct-09-03	8.890%	NV - 34.65%	Paid Off - 360	Feb-10-03
320119084 1			265,500.00	264,038.18	Nov-13-03	7.990%	CA - 90.00%	Paid Off - 360	Feb-06-03
320119027 1			110,000.00	109,456.82	Oct-28-03	7.850%	RI - 84.62%	Paid Off - 360	Feb-10-03
320120025 1			175,500.00	174,230.96	Nov-07-03	6.600%	IL - 90.00%	Paid Off - 360	Feb-25-03
320119720 1			225,000.00	223,701.28	Oct-01-03	7.250%	MA - 63.74%	Paid Off - 360	Feb-13-03
320121205 1			170,500.00	169,750.66	Nov-14-03	9.100%	IL - 65.08%	Paid Off - 360	Feb-12-03
320120181 1			60,000.00	57,625.59	Oct-16-03	7.500%	FL - 85.71%	Paid Off - 360	Feb-05-03
320121551 1			158,400.00	157,402.97	Nov-13-03	7.620%	CA - 80.00%	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
320121684 1			63,750.00	63,506.21	Nov-07-03	10.350%	IN - 85.00%	Paid Off - 360	Feb-05-03
320121726 1			260,000.00	258,478.78	Oct-30-03	6.990%	HI - 80.00%	Paid Off - 360	Feb-19-03
320121700 1			218,000.00	216,645.15	Nov-28-03	7.990%	NM - 79.85%	Paid Off - 360	Jan-29-03
320125784 1			175,000.00	173,978.13	Oct-27-03	7.000%	CO - 70.00%	Paid Off - 360	Feb-20-03
320122013 1			104,000.00	103,472.04	Nov-25-03	8.990%	CA - 59.43%	Paid Off - 360	Feb-05-03
320125891 1			197,200.00	196,273.78	Oct-30-03	8.100%	IL - 85.00%	Paid Off - 360	Feb-10-03
320122138 1			126,000.00	125,272.28	Nov-03-03	7.750%	IL - 70.00%	Paid Off - 360	Feb-11-03
320126907 1			109,650.00	109,123.51	Oct-27-03	7.990%	UT - 85.00%	Paid Off - 360	Feb-24-03
320123714 1			122,400.00	121,540.09	Nov-05-03	6.750%	CA - 72.00%	Paid Off - 360	Feb-28-03
320128598 1			162,350.00	161,306.51	Oct-29-03	7.500%	MO - 85.00%	Paid Off - 360	Feb-03-03
320124308 1			255,000.00	253,156.17	Nov-03-03	6.600%	MA - 53.68%	Paid Off - 360	Feb-18-03
320129836 1			122,850.00	122,166.83	Oct-15-03	7.250%	AZ - 90.00%	Paid Off - 360	Feb-25-03
320126097 1			112,500.00	112,005.56	Nov-12-03	9.100%	IL - 74.50%	Paid Off - 360	Feb-12-03
320130214 1			136,000.00	135,432.74	Oct-02-03	8.990%	MA - 80.00%	Paid Off - 360	Feb-05-03
320126683 1			125,000.00	123,154.00	Nov-13-03	7.500%	MA - 54.35%	Paid Off - 240	Feb-18-03
320130966 1			117,300.00	116,776.15	Oct-07-03	8.350%	MN - 85.00%	Paid Off - 360	Feb-24-03
320126915 1			212,000.00	210,504.56	Nov-13-03	7.350%	MA - 80.00%	Paid Off - 360	Feb-05-03
320131139 1			183,750.00	182,728.22	Oct-24-03	7.250%	CA - 75.00%	Paid Off - 360	Feb-13-03
320126998 1			136,400.00	135,441.79	Nov-19-03	6.750%	CA - 43.72%	Paid Off - 360	Feb-26-03
320131253 1			183,750.00	182,728.22	Oct-23-03	7.250%	CA - 75.00%	Paid Off - 360	Feb-13-03
320127467 1			200,000.00	198,393.29	Nov-25-03	6.750%	NJ - 72.73%	Paid Off - 360	Feb-20-03
320132293 1			157,250.00	156,260.47	Oct-15-03	7.250%	MI - 85.00%	Paid Off - 360	Feb-20-03
320128036 1			161,000.00	159,920.31	Nov-06-03	6.990%	CA - 70.00%	Paid Off - 360	Feb-05-03
320132392 1			143,000.00	142,119.74	Oct-31-03	6.800%	IL - 66.20%	Paid Off - 360	Feb-26-03
320128572 1			306,000.00	304,036.36	Nov-13-03	7.250%	CA - 91.34%	Paid Off - 360	Feb-12-03
320134679 1			270,000.00	268,344.99	Oct-23-03	6.750%	CO - 90.00%	Paid Off - 360	Feb-24-03
320128689 1			116,000.00	114,899.00	Nov-25-03	6.000%	CA - 85.93%	Paid Off - 360	Feb-26-03
320134760 1			80,750.00	80,399.47	Oct-07-03	8.490%	MI - 85.00%	Paid Off - 360	Feb-10-03
320128994 1			110,000.00	109,425.11	Nov-03-03	8.250%	MA - 73.33%	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
320131071 1			230,000.00	228,384.23	Nov-26-03	6.750%	CA - 63.89%	Paid Off - 360	Feb-24-03
320136260 1			273,750.00	272,300.92	Oct-17-03	7.500%	CA - 75.00%	Paid Off - 360	Feb-07-03
320131691 1			122,000.00	120,565.52	Nov-04-03	6.850%	MI - 65.95%	Paid Off - 360	Feb-27-03
320136427 1			74,400.00	73,964.68	Oct-03-03	6.990%	LA - 80.00%	Paid Off - 360	Feb-20-03
320132434 1			240,000.00	238,654.21	Nov-17-03	7.990%	CA - 80.00%	Paid Off - 360	Feb-19-03
320137615 1			280,500.00	279,400.77	Oct-01-03	8.990%	IL - 85.00%	Paid Off - 360	Feb-10-03
320132517 1			242,250.00	240,916.20	Nov-24-03	7.990%	CA - 85.00%	Paid Off - 360	Feb-27-03
320137730 1			126,000.00	125,332.97	Oct-01-03	7.500%	CA - 82.89%	Paid Off - 360	Feb-21-03
320132772 1			144,075.00	143,427.26	Nov-10-03	8.990%	MD - 85.00%	Paid Off - 360	Feb-27-03
320138530 1			260,000.00	259,054.13	Oct-29-03	9.350%	CO - 80.00%	Paid Off - 360	Feb-24-03
320133317 1			120,600.00	119,936.00	Nov-18-03	7.990%	MI - 90.00%	Paid Off - 360	Feb-12-03
320139140 1			129,500.00	128,909.82	Oct-03-03	8.250%	CO - 70.00%	Paid Off - 360	Feb-20-03
320136179 1			204,000.00	202,917.36	Nov-24-03	8.350%	CA - 80.00%	Paid Off - 360	Feb-26-03
320139322 1			123,200.00	122,381.09	Oct-29-03	7.250%	DC - 70.00%	Paid Off - 360	Feb-21-03
320136575 1			92,800.00	92,341.35	Nov-12-03	8.700%	DC - 80.00%	Paid Off - 360	Feb-24-03
320139629 1			318,750.00	317,101.55	Oct-02-03	8.450%	CA - 85.00%	Paid Off - 360	Feb-28-03
320137318 1			259,200.00	257,579.82	Nov-12-03	7.350%	MN - 80.00%	Paid Off - 360	Feb-18-03
320141542 1			115,000.00	114,243.03	Oct-01-03	6.380%	CA - 41.82%	Paid Off - 360	Feb-25-03
320137508 1			89,250.00	88,308.28	Nov-06-03	7.350%	OH - 85.00%	Paid Off - 360	Feb-21-03
320142052 1			266,900.00	265,415.84	Oct-16-03	7.250%	CA - 85.00%	Paid Off - 360	Feb-19-03
320137979 1			250,000.00	248,167.78	Nov-28-03	6.750%	CA - 83.33%	Paid Off - 360	Feb-11-03
320142334 1			201,000.00	200,316.21	Oct-21-03	9.750%	CA - 71.79%	Paid Off - 360	Feb-25-03
320138423 1			204,000.00	202,821.20	Nov-28-03	7.750%	CA - 80.00%	Paid Off - 360	Feb-11-03
320143084 1			168,000.00	167,147.56	Oct-06-03	8.100%	ME - 80.00%	Paid Off - 360	Feb-14-03
320138738 1			179,600.00	178,485.67	Nov-14-03	7.390%	CA - 81.64%	Paid Off - 360	Feb-18-03
320143415 1			293,000.00	291,186.57	Oct-10-03	6.700%	CA - 73.25%	Paid Off - 360	Feb-24-03
320139157 1			102,000.00	101,297.12	Nov-03-03	6.850%	NY - 40.80%	Paid Off - 360	Feb-20-03
320143498 1			166,600.00	165,799.55	Oct-28-03	8.100%	MI - 85.00%	Paid Off - 360	Feb-28-03
320139884 1			153,000.00	151,872.23	Nov-26-03	6.500%	CA - 85.00%	Paid Off - 360	Feb-25-03
320143712 1			162,000.00	161,007.02	Oct-30-03	6.750%	NH - 55.86%	Paid Off - 360	Feb-26-03
320142441 1			400,000.00	397,450.23	Nov-10-03	7.250%	NY - 80.00%	Paid Off - 360	Feb-19-03
320144215 1			239,000.00	237,601.68	Oct-24-03	6.990%	CA - 63.73%	Paid Off - 360	Feb-28-03
320143142 1			142,000.00	141,519.36	Nov-20-03	10.350%	IL - 46.71%	Paid Off - 360	Feb-19-03
320144355 1			236,000.00	234,846.19	Oct-30-03	7.900%	CO - 80.00%	Paid Off - 360	Feb-27-03
320143191 1			76,500.00	76,164.77	Nov-05-03	9.120%	MO - 85.00%	Paid Off - 360	Feb-12-03
320144397 1			169,150.00	168,552.73	Oct-10-03	9.600%	NJ - 85.00%	Paid Off - 360	Feb-25-03
320143357 1			225,000.00	223,565.75	Nov-28-03	7.250%	CA - 90.00%	Paid Off - 360	Feb-18-03
320144454 1			168,000.00	167,178.63	Oct-03-03	7.900%	CA - 80.00%	Paid Off - 360	Feb-19-03
320143696 1			60,000.00	59,586.53	Nov-25-03	6.850%	CA - 54.55%	Paid Off - 360	Feb-28-03
320144520 1			88,500.00	88,104.74	Oct-30-03	8.350%	CO - 42.14%	Paid Off - 360	Feb-14-03
320143720 1			175,000.00	173,825.97	Nov-24-03	6.990%	CA - 66.29%	Paid Off - 360	Feb-14-03
320145311 1			111,000.00	110,494.18	Oct-10-03	8.250%	IL - 48.90%	Paid Off - 360	Feb-18-03
320144223 1			242,250.00	241,151.99	Nov-26-03	8.950%	CA - 85.00%	Paid Off - 360	Feb-26-03
320145352 1			228,000.00	226,850.81	Oct-29-03	7.750%	NY - 80.00%	Paid Off - 360	Feb-18-03
320144546 1			315,000.00	313,265.63	Nov-05-03	7.990%	NY - 90.00%	Paid Off - 360	Feb-21-03
320145402 1			320,000.00	318,000.30	Oct-03-03	6.650%	CA - 80.00%	Paid Off - 360	Feb-20-03
320144637 1			334,050.00	331,524.25	Nov-19-03	6.500%	NY - 85.00%	Paid Off - 360	Feb-28-03
320145758 1			300,000.00	298,885.79	Oct-07-03	9.250%	MT - 75.00%	Paid Off - 360	Feb-28-03
320144728 1			107,000.00	106,477.96	Nov-03-03	8.590%	IL - 62.57%	Paid Off - 360	Feb-18-03
320145766 1			160,000.00	158,970.90	Oct-30-03	6.500%	NV - 76.19%	Paid Off - 360	Feb-12-03
320145295 1			64,400.00	64,146.51	Nov-19-03	9.850%	MI - 70.00%	Paid Off - 360	Feb-18-03
320146012 1			252,000.00	250,863.20	Oct-16-03	8.300%	CA - 90.00%	Paid Off - 360	Feb-18-03
320145667 1			480,250.00	478,091.00	Nov-29-03	8.990%	NY - 85.00%	Paid Off - 360	Feb-13-03
320146731 1			261,800.00	260,344.19	Oct-14-03	7.250%	CA - 85.00%	Paid Off - 360	Feb-28-03
320145709 1			162,000.00	161,170.33	Nov-21-03	8.350%	CA - 60.00%	Paid Off - 360	Feb-25-03
					Page 20 of 27				© COPYRIGHT 2003 Deutsche Bank
	Morgan Stanley ABS Capital I Inc. 2003-NC5
	Mortgage Pass-Through Certificates
	Prepayment Detail Report for November 25, 2003 Distribution
	Prepayment Detail Report for December 26, 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
320147150 1			92,000.00	91,425.08	Oct-02-03	6.650%	IL - 73.02%	Paid Off - 360	Feb-21-03
320145725 1			107,000.00	106,462.94	Nov-03-03	8.490%	VA - 73.29%	Paid Off - 360	Feb-28-03
320147820 1			193,600.00	192,453.62	Oct-29-03	6.990%	CA - 80.00%	Paid Off - 360	Feb-25-03
320146384 1			193,500.00	192,325.63	Nov-25-03	7.500%	FL - 90.00%	Paid Off - 360	Feb-20-03
320147952 1			189,900.00	189,157.34	Oct-28-03	9.000%	CA - 90.00%	Paid Off - 360	Feb-24-03
320146392 1			488,750.00	486,579.77	Nov-29-03	9.050%	NY - 85.00%	Paid Off - 360	Feb-13-03
320148117 1			152,000.00	151,601.52	Oct-21-03	10.900%	CA - 82.16%	Paid Off - 360	Feb-28-03
320146509 1			61,500.00	61,224.04	Nov-24-03	9.000%	IN - 75.00%	Paid Off - 360	Feb-27-03
320148364 1			56,150.00	55,906.16	Oct-21-03	8.600%	PA - 69.32%	Paid Off - 360	Feb-21-03
320147648 1			262,500.00	260,921.76	Nov-17-03	7.900%	CA - 70.00%	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
320147671 1			125,600.00	124,742.40	Nov-28-03	7.100%	FL - 80.00%	Paid Off - 360	Feb-25-03
320149495 1			152,000.00	151,374.25	Oct-30-03	8.750%	AZ - 93.25%	Paid Off - 360	Feb-28-03
320149214 1			93,600.00	93,152.41	Nov-18-03	8.700%	FL - 90.00%	Paid Off - 360	Feb-24-03
320149669 1			279,801.00	277,913.25	Oct-30-03	6.250%	CA - 79.94%	Paid Off - 360	Feb-27-03
320149461 1			243,750.00	243,016.37	Nov-28-03	10.900%	CA - 71.69%	Paid Off - 360	Feb-20-03
320150444 1			305,000.00	303,215.53	Oct-09-03	6.990%	CA - 71.76%	Paid Off - 360	Feb-28-03
320149743 1			164,250.00	163,282.32	Nov-24-03	7.650%	CA - 75.00%	Paid Off - 360	Feb-28-03
320150584 1			216,750.00	215,792.54	Oct-23-03	8.600%	CA - 85.00%	Paid Off - 360	Feb-21-03
320149909 1			84,150.00	83,568.09	Nov-20-03	8.900%	FL - 85.00%	Paid Off - 360	Feb-28-03
320150683 1			57,000.00	56,848.93	Oct-15-03	10.850%	FL - 36.08%	Paid Off - 360	Feb-24-03
320150469 1			108,500.00	108,095.54	Nov-10-03	10.550%	CA - 70.00%	Paid Off - 360	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
320150592 1			187,200.00	185,528.96	Nov-03-03	6.600%	MA - 80.00%	Paid Off - 360	Feb-14-03
320089709 2			204,000.00	202,611.07	Oct-17-03	8.990%	NY - 75.00%	Paid Off - 360	Nov-01-02
320150899 1			51,425.00	51,108.92	Nov-25-03	7.750%	MI - 85.00%	Paid Off - 360	Feb-25-03
320090384 2			506,000.00	501,943.57	Oct-27-03	7.250%	CA - 83.64%	Paid Off - 360	Dec-05-02
320151244 1			208,000.00	206,786.09	Nov-26-03	7.950%	CA - 86.67%	Paid Off - 360	Feb-25-03
320090962 2			166,500.00	165,671.03	Oct-14-03	8.490%	MA - 90.00%	Paid Off - 360	Jan-06-03
320151251 1			132,800.00	131,908.76	Nov-07-03	6.990%	NV - 80.00%	Paid Off - 360	Feb-27-03
320091275 2			100,000.00	99,491.10	Oct-01-03	8.990%	MI - 78.74%	Paid Off - 360	Jan-21-03
320152655 1			166,000.00	165,085.01	Nov-28-03	7.990%	IL - 79.05%	Paid Off - 360	Feb-28-03
320092232 2			359,686.00	357,774.63	Oct-15-03	7.750%	CA - 85.00%	Paid Off - 360	Feb-18-03
320152689 1			136,800.00	136,009.84	Nov-03-03	7.750%	CA - 90.00%	Paid Off - 360	Feb-28-03
320092398 2			499,000.00	496,392.26	Oct-21-03	8.250%	IN - 69.89%	Paid Off - 360	Feb-07-03
320090376 2			114,000.00	113,129.89	Nov-03-03	8.000%	MA - 69.09%	Paid Off - 360	Dec-03-02
320092919 2			40,000.00	39,191.51	Oct-28-03	7.990%	KY - 64.00%	Paid Off - 240	Jan-02-03
320091598 2			193,500.00	192,293.19	Nov-07-03	7.990%	IL - 90.00%	Paid Off - 360	Jan-22-03
320093719 2			389,000.00	385,439.94	Oct-24-03	5.990%	CA - 60.31%	Paid Off - 360	Jan-27-03
320093404 2			76,500.00	74,122.60	Nov-25-03	7.500%	MI - 62.70%	Paid Off - 180	Jan-07-03
320093834 2			300,000.00	298,267.29	Oct-20-03	7.750%	VA - 81.30%	Paid Off - 360	Jan-17-03
320094766 2			73,600.00	73,134.10	Nov-25-03	8.500%	FL - 80.00%	Paid Off - 360	Dec-18-02
320094733 2			360,000.00	358,094.31	Oct-27-03	7.500%	CA - 90.00%	Paid Off - 360	Feb-13-03
320095961 2			392,000.00	389,621.00	Nov-03-03	7.500%	IL - 63.23%	Paid Off - 360	Feb-21-03
320094857 2			175,000.00	174,036.47	Oct-08-03	7.990%	NJ - 72.92%	Paid Off - 360	Jan-15-03
320096399 2			130,500.00	128,793.45	Nov-28-03	7.990%	CA - 75.00%	Paid Off - 360	Jan-17-03
320094873 2			560,000.00	555,553.15	Oct-17-03	6.740%	CA - 80.00%	Paid Off - 360	Dec-31-02
320097660 2			342,000.00	340,212.72	Nov-12-03	8.250%	IL - 90.00%	Paid Off - 360	Feb-10-03
320095664 2			450,000.00	448,108.18	Oct-30-03	9.900%	CA - 60.00%	Paid Off - 360	Dec-27-02
320098650 2			225,600.00	222,111.40	Nov-14-03	7.750%	CA - 80.00%	Paid Off - 360	Jan-02-03
320096100 2			288,000.00	286,210.09	Oct-09-03	7.990%	CA - 90.00%	Paid Off - 360	Jan-03-03
320098981 2			38,250.00	38,041.65	Nov-06-03	8.850%	NC - 85.00%	Paid Off - 360	Feb-07-03
320096118 2			483,500.00	476,500.31	Oct-07-03	6.990%	CA - 69.07%	Paid Off - 360	Dec-18-02
320103476 2			428,400.00	426,205.92	Nov-26-03	8.350%	NY - 90.00%	Paid Off - 360	Feb-05-03
320096662 2			110,400.00	109,705.35	Oct-17-03	7.500%	OH - 80.00%	Paid Off - 360	Jan-31-03
320107667 2			64,500.00	64,201.57	Nov-14-03	8.850%	RI - 33.95%	Paid Off - 360	Feb-03-03
320096969 2			321,000.00	319,145.98	Oct-23-03	7.750%	NC - 84.47%	Paid Off - 360	Jan-13-03
320108194 2			116,000.00	115,530.69	Nov-06-03	9.500%	FL - 80.00%	Paid Off - 360	Feb-26-03
320097835 2			403,750.00	400,756.45	Oct-02-03	5.750%	NY - 85.00%	Paid Off - 360	Feb-18-03
320109507 2			67,000.00	66,703.25	Nov-12-03	9.100%	AR - 79.76%	Paid Off - 360	Feb-04-03
320099203 2			66,000.00	65,671.99	Oct-20-03	8.500%	MO - 80.00%	Paid Off - 360	Feb-10-03
320110570 2			96,050.00	95,618.19	Nov-28-03	8.990%	CA - 85.00%	Paid Off - 360	Feb-18-03
320100829 2			550,000.00	547,229.47	Oct-15-03	7.750%	CA - 84.62%	Paid Off - 360	Feb-28-03
320110877 2			350,000.00	347,768.93	Nov-25-03	7.250%	NY - 89.74%	Paid Off - 360	Feb-03-03
320106586 2			252,000.00	250,297.29	Oct-02-03	6.500%	NJ - 67.74%	Paid Off - 360	Feb-10-03
320112287 2			76,500.00	76,020.04	Nov-28-03	8.350%	IN - 85.00%	Paid Off - 360	Feb-04-03
320108053 2			161,500.00	159,816.30	Oct-30-03	8.500%	CA - 85.00%	Paid Off - 360	Feb-04-03
320113319 2			405,000.00	402,987.84	Nov-07-03	8.500%	CA - 90.00%	Paid Off - 360	Feb-20-03
320117245 2			68,000.00	67,074.09	Oct-01-03	8.240%	TX - 80.00%	Paid Off - 360	Feb-14-03
320115470 2			99,000.00	98,398.40	Nov-05-03	7.500%	CA - 79.84%	Paid Off - 360	Feb-26-03
320118995 2			375,000.00	372,485.22	Oct-17-03	6.990%	CA - 75.00%	Paid Off - 360	Feb-24-03
320116049 2			168,750.00	167,841.08	Nov-19-03	8.100%	CA - 75.00%	Paid Off - 360	Feb-14-03
320121015 2			482,800.00	479,975.32	Oct-27-03	6.990%	CA - 84.97%	Paid Off - 360	Feb-26-03
320118003 2			170,000.00	168,164.82	Nov-04-03	7.990%	CA - 79.07%	Paid Off - 360	Feb-04-03
320123748 2			185,000.00	184,122.34	Oct-28-03	8.050%	CA - 63.79%	Paid Off - 360	Feb-25-03
320118979 2			188,000.00	186,859.13	Nov-13-03	7.500%	CA - 80.00%	Paid Off - 360	Feb-28-03
320125560 2			80,325.00	80,062.15	Oct-20-03	9.990%	IN - 85.00%	Paid Off - 360	Feb-05-03
320119043 2			191,000.00	189,833.00	Nov-14-03	8.150%	CA - 61.61%	Paid Off - 360	Feb-12-03
320125974 2			169,150.00	168,309.58	Oct-23-03	8.350%	DC - 85.43%	Paid Off - 360	Feb-11-03
320120330 2			345,000.00	342,507.28	Nov-19-03	6.750%	MA - 75.00%	Paid Off - 360	Feb-28-03
320130560 2			94,000.00	93,451.07	Oct-10-03	7.000%	WA - 53.71%	Paid Off - 360	Feb-10-03
320121668 2			335,750.00	333,559.12	Nov-05-03	7.745%	NM - 85.00%	Paid Off - 360	Jan-31-03
320132962 2			57,600.00	57,120.57	Oct-17-03	10.990%	CA - 10.00%	Paid Off - 240	Feb-25-03
320121908 2			58,000.00	57,791.86	Nov-19-03	11.250%	NM - 64.44%	Paid Off - 360	Feb-26-03
320134059 2			165,750.00	164,964.65	Oct-29-03	8.350%	MD - 85.00%	Paid Off - 360	Feb-28-03
320123458 2			98,700.00	98,252.59	Nov-06-03	8.950%	CA - 70.00%	Paid Off - 360	Feb-13-03
320138332 2			146,500.00	145,747.21	Oct-31-03	7.650%	RI - 77.51%	Paid Off - 360	Feb-19-03
320124456 2			81,000.00	80,541.33	Nov-05-03	7.850%	FL - 75.00%	Paid Off - 360	Feb-10-03
320140312 2			152,000.00	151,195.36	Oct-02-03	7.500%	CA - 77.95%	Paid Off - 360	Feb-12-03
320125156 2			105,700.00	105,302.49	Nov-19-03	9.850%	DC - 70.00%	Paid Off - 360	Feb-14-03
320140452 2			195,500.00	194,686.90	Oct-08-03	8.700%	CA - 83.19%	Paid Off - 360	Feb-12-03
320127012 2			395,000.00	392,935.76	Nov-06-03	8.250%	CA - 67.52%	Paid Off - 360	Feb-25-03
320141161 2			368,000.00	366,143.32	Oct-27-03	7.750%	CA - 79.14%	Paid Off - 360	Feb-20-03
320128549 2			450,000.00	447,522.32	Nov-28-03	7.990%	CA - 75.00%	Paid Off - 360	Feb-21-03
320142920 2			359,000.00	356,797.51	Oct-02-03	6.750%	CA - 82.53%	Paid Off - 360	Feb-13-03
320128671 2			80,000.00	79,763.77	Nov-20-03	10.990%	CA - 64.00%	Paid Off - 360	Feb-07-03
320143241 2			131,750.00	131,245.23	Oct-02-03	9.100%	FL - 85.00%	Paid Off - 360	Feb-25-03
320132921 2			337,500.00	335,241.41	Nov-14-03	8.500%	CA - 75.00%	Paid Off - 360	Feb-06-03
320144181 2			52,000.00	51,774.71	Oct-30-03	8.500%	TX - 80.00%	Paid Off - 360	Feb-27-03
320134935 2			256,500.00	255,159.57	Nov-14-03	8.250%	IL - 90.00%	Paid Off - 360	Feb-20-03
320145444 2			80,000.00	79,334.12	Oct-03-03	10.990%	CA - 20.00%	Paid Off - 240	Feb-20-03
320136369 2			73,950.00	73,571.27	Nov-06-03	8.350%	NC - 85.00%	Paid Off - 360	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
320136955 2			85,500.00	85,039.51	Nov-29-03	8.100%	NJ - 90.00%	Paid Off - 360	Feb-13-03
					Page 21 of 27				© COPYRIGHT 2003 Deutsche Bank
	Morgan Stanley ABS Capital I Inc. 2003-NC5
	Mortgage Pass-Through Certificates
	Prepayment Detail Report for November 25, 2003 Distribution
	Prepayment Detail Report for December 26, 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
320137235 2			94,000.00	92,861.48	Nov-20-03	6.850%	MI - 57.67%	Paid Off - 360	Feb-13-03
320148026 2			436,000.00	431,833.42	Oct-27-03	7.650%	CA - 79.71%	Paid Off - 360	Feb-27-03
320139207 2			283,500.00	282,161.31	Nov-03-03	8.750%	MD - 90.00%	Paid Off - 360	Feb-05-03
320148299 2			150,000.00	149,316.48	Oct-23-03	8.250%	IL - 80.00%	Paid Off - 360	Feb-28-03
320142755 2			451,200.00	447,846.82	Nov-06-03	6.500%	CA - 80.00%	Paid Off - 360	Feb-14-03
320149081 2			374,400.00	372,209.00	Oct-27-03	6.990%	CA - 80.00%	Paid Off - 360	Feb-26-03
320146574 2			225,000.00	223,449.57	Nov-19-03	6.850%	CA - 79.79%	Paid Off - 360	Feb-19-03
320149768 2			315,000.00	313,365.85	Oct-01-03	7.990%	CA - 90.00%	Paid Off - 360	Feb-27-03
320148174 2			382,500.00	380,377.12	Nov-12-03	7.950%	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
320149107 2			93,600.00	91,937.40	Nov-04-03	11.250%	CA - 20.00%	Paid Off - 180	Feb-26-03
320152390 2			56,000.00	55,533.86	Oct-02-03	10.990%	WA - 20.00%	Paid Off - 240	Feb-27-03
320149578 2			112,200.00	111,776.28	Nov-04-03	9.830%	CA - 85.00%	Paid Off - 360	Feb-28-03
320152481 2			348,000.00	346,211.84	Oct-01-03	7.750%	CA - 74.84%	Paid Off - 360	Feb-26-03
320150451 2			67,000.00	65,836.49	Nov-19-03	11.900%	CA - 20.00%	Paid Off - 180	Feb-28-03
320151012 2			467,500.00	464,799.88	Nov-29-03	7.750%	NY - 85.00%	Paid Off - 360	Feb-28-03
320151137 2			400,000.00	397,317.56	Nov-13-03	6.990%	CA - 80.00%	Paid Off - 360	Feb-25-03
320151269 2			33,200.00	32,872.28	Nov-07-03	10.740%	NV - 20.00%	Paid Off - 240	Feb-27-03
320151392 2			46,800.00	46,308.71	Nov-03-03	10.500%	MA - 20.00%	Paid Off - 240	Feb-14-03
320151780 2			35,000.00	34,533.86	Nov-19-03	8.490%	MI - 43.75%	Paid Off - 360	Feb-21-03
320152374 2			63,750.00	63,160.17	Nov-04-03	11.240%	CA - 15.00%	Paid Off - 240	Feb-28-03
					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 for December 26, 2003 Distribution
	Realized Loss Report - Collateral
COLLATERAL REALIZED LOSSES						GROUP 2	GROUP 1	TOTAL
	Current
	Number of Loans Liquidated					-	-	-
	Collateral Realized Loss/(Gain) Amount					-	-	-
	Net Liquidation Proceeds					-	-	-
	Cumulative
	Number of Loans Liquidated					-	-	-
	Collateral Realized Loss/(Gain) Amount					-	-	-
	Net Liquidation Proceeds					-	-	-
	Note: Collateral Realized Loss Amount may include adjustments to loans liquidated in prior periods.
	Cumulative Loss Percentage							0.00%
	Group 1						3 Months Moving Average
	Group 2
Collateral Loss Severity Approximation by Groups					Collateral Loss Severity Approximation
				Page 23 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 for December 26, 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 24 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 for December 26, 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 25 of 27				© COPYRIGHT 2003 Deutsche Bank
	Morgan Stanley ABS Capital I Inc. 2003-NC5
	Mortgage Pass-Through Certificates
	Realized Loss Detail Report for November 25, 2003 Distribution
	Realized Loss Detail Report for December 26, 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 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 November 25, 2003 Distribution
	Triggers, Adj. Rate Cert. and Miscellaneous Report for December 26, 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))							1.5294%
	(x) Rolling 3-month avg. of 60+ Day Delinq. Loans							1316,~~766~~919,~~581~~512.1430
	(y) Stated Principal Balance							~~903~~873,~~679~~950,~~754~~614.1780
	(B) 40% of Sr. Enhancement Percentage							8.1645%
	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)							2021.4013%
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
				Page 27 of 27				© COPYRIGHT 2003 Deutsche Bank

Filing Compare · MORGAN STANLEY ABS CAPITAL I MORT PS-THR CER SER 2003-NC5