                                    UNITED STATES
                          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):
                             (Date of earliest event reported)


                                MORGAN STANLEY ABS CAPITAL I INC.
             (as Depositor under the Pooling and Servicing Agreement, dated as
                 August 1, 2004, providing for the issuance of Morgan Stanley
                 ABS Capital I Inc. Trust, Mortgage Pass-Through Certificates
                                        Series 2004-WMC2)
                      (Exact name of registrant as specified in charter)


                                         DELAWARE
                     (State or Other Jurisdiction of Incorporation)

               333-113543-11                        13-3939229
          (Commission File Number)        (I.R.S. Employer Identification No.)


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


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


             (Former name or former address, if changed since last report.)


     Check the appropriate box below if the Form 8-K filing is intended to
     simultaneously satisfy the filing obligation of the registrant under any
     of the following provisions (see General Instruction A.2. below):

     [  ] Written communications pursuant to Rule 425 under the Securities Act
     (17 CFR 230.425)

     [  ] Soliciting material pursuant to Rule 14a-12(b) under the Exchange Act
     (17 CFR 240.14a-12(b))

     [  ] Pre-commencement communications pursuant to Rule 14d-2(b) under the
     Exchange Act (17 CFR 240.14d-2(b))

     [  ] Pre-commencement communications pursuant to Rule 13e-4(c) under the
     Exchange Act (17 CFR 240.13e-4(c))


     Item 8.01 Other Events.

     This current report on Form 8-K relates to the monthly distribution
     reported to the holders of Morgan Stanley ABS Capital I Inc. Trust,
     Mortgage Pass-Through Certificates Series 2004-WMC1, which was made
     on August 1, 2004


     Item 9.01 Financial Statements and Exhibits.

     (c) Exhibits

     Exhibit No. Description

     99.1 Monthly Remittance Statement to the Certificateholders dated as of
     .


                                  SIGNATURES


    Pursuant to the requirements of the Securities Exchange Act of 1934,
    the Registrant has duly caused this report to be signed on behalf of
    the Registrant by the undersigned thereunto duly authorized.



                                         DEUTSCHE BANK NATIONAL TRUST COMPANY,
                                         IN ITS CAPACITY AS TRUSTEE UNDER THE
                                         POOLING AND SERVICING AGREEMENT ON
                                         BEHALF OF MORGAN STANLEY ABS CAPITAL
                                         I INC., REGISTRANT



          Date:  Sep 27, 2004               By:  /s/  Katherine M. Wannenmacher
                                            Katherine M. Wannenmacher
                                            Vice President



                                   EXHIBIT INDEX

         DOCUMENT

         99.1 Monthly Remittance Statement to the Certificateholders dated as of
              .



Morgan Stanley ABS Capital I Inc. 2004-WMC2

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
REMIC 2004-WMC2

September 27, 2004 Distribution

				External Parties					Table of Contents

												Page
				Seller								Page
				Seller					1. Certificate Payment Report					2
				Morgan Stanley					1. Certificate Payment Report					2
				Morgan Stanley					2. Collection Account Report					4
									2. Collection Account Report					4
									3. Credit Enhancement Report					6
									4. Collateral Report					7
				Certificate Insurer(s)					5. Delinquency Report					10
				Certificate Insurer(s)					5. Delinquency Report					10
									6. REO Report					13

									7. Foreclosure Report					14
									8. Prepayment Report					15
									9. Prepayment Detail Report					18
									9. Prepayment Detail Report					18
									10. Realized Loss Report					22
									11. Realized Loss Detail Report					25
				Servicer(s)					11. Realized Loss Detail Report					25
				Servicer(s)					12. Triggers and Adj. Cert. Report					26
				HomeQ Servicing Corp.					12. Triggers and Adj. Cert. Report					26
				HomeQ Servicing Corp.					13. Other Related Information					27
									13. Other Related Information					27


				Underwriter(s)
				Morgan Stanley & Co. Inc


									Total Number of Pages					27
									Total Number of Pages

				Dates					Contacts

				Cut-Off Date:		August 01, 2004			Eiko Akiyama
				Close Date:		August 19, 2004			Administrator
				First Distribution Date:		September 27, 2004			(714) 247-6328

									Address:
									1761 East St. Andrew Place, Santa Ana, CA 92514
				Distribution Date:		September 27, 2004
									Factor Information:			(800) 735-7777
				Record Date:		August 31, 2004			Factor Information:			(800) 735-7777
									Main Phone Number:			(714) 247-6000

						September 24, 2004
						September 24, 2004

									https://www.corporatetrust.db.com/invr



Page 1 of 27
Morgan Stanley ABS Capital I Inc. 2004-WMC2

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
REMIC 2004-WMC2

September 27, 2004 Distribution
Certificate Payment Report
Current Period Distribution - REMIC II
					Prior											Current
	Class		Original		Principal					Total		Realized		Deferred		Principal
	Class		Original		Principal					Total		Realized		Deferred		Principal
Class	Type	Cur	Face Value		Balance	Interest		Principal		Distribution		Loss		Interest		Balance


					(1)	(2)		(3)		(4)=(2)+(3)		(5)		(6)		(7)=(1)-(3)-(5)+(6)

A-1	FLT, STEP	$	565,874,000.00		565,874,000.00	1,167,822.47		15,347,420.85		16,515,243.32		0.00		0.00		550,526,579.15
A-1	FLT, STEP	$	565,874,000.00		565,874,000.00	1,167,822.47		15,347,420.85		16,515,243.32		0.00		0.00		550,526,579.15
A-2	FLT, STEP	$	200,000,000.00		200,000,000.00	424,666.67		7,035,173.65		7,459,840.32		0.00		0.00		192,964,826.35
A-3	FLT, STEP	$	155,750,000.00		155,750,000.00	292,745.10		9,786,032.08		10,078,777.18		0.00		0.00		145,963,967.92
A-4	FLT, STEP	$	59,253,000.00		59,253,000.00	122,604.33		0.00		122,604.33		0.00		0.00		59,253,000.00
A-5	FLT, STEP	$	63,200,000.00		63,200,000.00	145,149.33		0.00		145,149.33		0.00		0.00		63,200,000.00
M-1	MEZ, FLT,ST	$	91,643,000.00		91,643,000.00	219,408.62		0.00		219,408.62		0.00		0.00		91,643,000.00
M-2	MEZ, FLT,ST	$	68,732,000.00		68,732,000.00	208,487.07		0.00		208,487.07		0.00		0.00		68,732,000.00
M-3	MEZ, FLT,ST	$	22,911,000.00		22,911,000.00	74,460.75		0.00		74,460.75		0.00		0.00		22,911,000.00
B-1	SUB, FLT,ST	$	19,638,000.00		19,638,000.00	75,524.48		0.00		75,524.48		0.00		0.00		19,638,000.00
B-2	SUB, FLT,ST	$	16,365,000.00		16,365,000.00	64,709.94		0.00		64,709.94		0.00		0.00		16,365,000.00
B-3	SUB, FLT,ST	$	19,638,000.00		19,638,000.00	108,499.95		0.00		108,499.95		0.00		0.00		19,638,000.00
X	SUB	$	26,183,828.00		26,183,828.00	3,889,025.67		71.43		3,889,097.10		0.00		0.00		26,183,756.57
P	SUB,EXE	$	0.00		0.00	18,215.95		0.00		18,215.95		0.00		0.00		0.00
UT-R	R	$	0.00		0.00	0.00		0.00		0.00		0.00		0.00		0.00


Total			1,309,187,828.00		1,309,187,828.00	6,811,320.33		32,168,698.01		38,980,018.34		0.00		0.00		1,277,019,129.99
Total




Interest Accrual Detail Current Period Factor Information per $1,0000 of Original Face-
								Orig. Principal		Prior							Current
								Orig. Principal		Prior							Current
	Period		Period					(with Notional)		Principal						Total	Principal
	Period		Period
Class	Starting		Ending		Method	Cusip		Balance		Balance		Interest		Principal		Distribution	Balance

								(1)		(1)		(2)		(3)		(4)=(2)+(3)	(5)
A-1	08/19/04		09/26/04		A-Act/360	61746RHM6		565,874,000.00		1,000.000000		2.063750		27.121622		29.185372	972.878378
A-2	08/19/04		09/26/04		A-Act/360	61746RHN4		200,000,000.00		1,000.000000		2.123333		35.175868		37.299202	964.824132
A-3	08/19/04		09/26/04		A-Act/360	61746RHP9		155,750,000.00		1,000.000000		1.879583		62.831667		64.711250	937.168333
A-4	08/19/04		09/26/04		A-Act/360	61746RHQ7		59,253,000.00		1,000.000000		2.069167		0.000000		2.069167	1,000.000000
A-5	08/19/04		09/26/04		A-Act/360	61746RHR5		63,200,000.00		1,000.000000		2.296667		0.000000		2.296667	1,000.000000
M-1	08/19/04		09/26/04		A-Act/360	61746RHS3		91,643,000.00		1,000.000000		2.394167		0.000000		2.394167	1,000.000000
M-2	08/19/04		09/26/04		A-Act/360	61746RHT1		68,732,000.00		1,000.000000		3.033333		0.000000		3.033333	1,000.000000
M-3	08/19/04		09/26/04		A-Act/360	61746RHU8		22,911,000.00		1,000.000000		3.250000		0.000000		3.250000	1,000.000000
B-1	08/19/04		09/26/04		A-Act/360	61746RHV6		19,638,000.00		1,000.000000		3.845834		0.000000		3.845834	1,000.000000
B-2	08/19/04		09/26/04		A-Act/360	61746RHW4		16,365,000.00		1,000.000000		3.954167		0.000000		3.954167	1,000.000000
B-3	08/19/04		09/26/04		A-Act/360	61746RHX2		19,638,000.00		1,000.000000		5.525000		0.000000		5.525000	1,000.000000
X	08/19/04		09/26/04		F-Act/360			26,183,828.00		1,000.000000		148.527773		0.002728		148.530501	999.997272
P	08/01/04		08/30/04		F-30/360			0.00		0.000000		0.000000		0.000000		0.000000	0.000000
UT-R	08/01/04		08/30/04		F-30/360			0.00		0.000000		0.000000		0.000000		0.000000	0.000000




Page 2 of 27
Morgan Stanley ABS Capital I Inc. 2004-WMC2

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
REMIC 2004-WMC2

September 27, 2004 Distribution

Distribution to Date - REMIC II
																Current


	Original				Unscheduled	Scheduled		Total		Total		Realized		Deferred		Principal

Class	Face Value		Interest		Principal	Principal		Principal		Distribution		Loss		Interest		Balance
	(1)		(2)		(3)	(4)		(5)=(3)+(4)		(6)=(2)+(5)		(7)		(8)		(9)=(1)-(5)-(7)+(8)
A-1	565,874,000.00		1,167,822.47		14,867,353.43	480,067.42		15,347,420.85		16,515,243.32		0.00		0.00		550,526,579.15
A-2	200,000,000.00		424,666.67		6,815,113.37	220,060.28		7,035,173.65		7,459,840.32		0.00		0.00		192,964,826.35
A-3	155,750,000.00		292,745.10		9,479,924.93	306,107.15		9,786,032.08		10,078,777.18		0.00		0.00		145,963,967.92
A-4	59,253,000.00		122,604.33		0.00	0.00		0.00		122,604.33		0.00		0.00		59,253,000.00
A-5	63,200,000.00		145,149.33		0.00	0.00		0.00		145,149.33		0.00		0.00		63,200,000.00
M-1	91,643,000.00		219,408.62		0.00	0.00		0.00		219,408.62		0.00		0.00		91,643,000.00
M-2	68,732,000.00		208,487.07		0.00	0.00		0.00		208,487.07		0.00		0.00		68,732,000.00
M-3	22,911,000.00		74,460.75		0.00	0.00		0.00		74,460.75		0.00		0.00		22,911,000.00
B-1	19,638,000.00		75,524.48		0.00	0.00		0.00		75,524.48		0.00		0.00		19,638,000.00
B-2	16,365,000.00		64,709.94		0.00	0.00		0.00		64,709.94		0.00		0.00		16,365,000.00
B-3	19,638,000.00		108,499.95		0.00	0.00		0.00		108,499.95		0.00		0.00		19,638,000.00
X	26,183,828.00		3,889,025.67		69.20	2.23		71.43		3,889,097.10		0.00		0.00		26,183,756.57
P	0.00		18,215.95		0.00	0.00		0.00		18,215.95		0.00		0.00		0.00
UT-R	0.00		0.00		0.00	0.00		0.00		0.00		0.00		0.00		0.00


Total	1,309,187,828.00		6,811,320.33		31,162,460.93	1,006,237.08		32,168,698.01		38,980,018.34		0.00		0.00		1,277,019,129.99


Interest Detail - REMIC II
	Pass		Prior Principal			Non-		Prior		Unscheduled				Paid or		Current
	Pass		Prior Principal			Non-		Prior		Unscheduled				Paid or

	Through		(with Notional)		Accrued	Supported		Unpaid		Interest		Optimal		Deferred		Unpaid

Class	Rate		Balance		Interest	Interest SF		Interest		Adjustment		Interest		Interest		Interest
					(1)	(2)		(3)		(4)		(5)=(1)-(2)+(3)+(4)		(6)		(7)=(5)-(6)
A-1	1.90500%		565,874,000.00		1,167,822.47	0.00		0.00		0.00		1,167,822.47		1,167,822.47		0.00
A-2	1.96000%		200,000,000.00		424,666.67	0.00		0.00		0.00		424,666.67		424,666.67		0.00
A-3	1.73500%		155,750,000.00		292,745.10	0.00		0.00		0.00		292,745.10		292,745.10		0.00
A-4	1.91000%		59,253,000.00		122,604.33	0.00		0.00		0.00		122,604.33		122,604.33		0.00
A-5	2.12000%		63,200,000.00		145,149.33	0.00		0.00		0.00		145,149.33		145,149.33		0.00
M-1	2.21000%		91,643,000.00		219,408.62	0.00		0.00		0.00		219,408.62		219,408.62		0.00
M-2	2.80000%		68,732,000.00		208,487.07	0.00		0.00		0.00		208,487.07		208,487.07		0.00
M-3	3.00000%		22,911,000.00		74,460.75	0.00		0.00		0.00		74,460.75		74,460.75		0.00
B-1	3.55000%		19,638,000.00		75,524.48	0.00		0.00		0.00		75,524.48		75,524.48		0.00
B-2	3.65000%		16,365,000.00		64,709.94	0.00		0.00		0.00		64,709.94		64,709.94		0.00
B-3	4.78965%		19,638,000.00		101,897.51	0.00		0.00		0.00		101,897.51		108,499.95		0.00
X	137.10256%		26,183,828.00		0.00	0.00		0.00		0.00		0.00		3,889,025.67		0.00
P	0.00000%		0.00		0.00	0.00		0.00		0.00		0.00		18,215.95		0.00
UT-R	0.00000%		0.00		0.00	0.00		0.00		0.00		0.00		0.00		0.00


Total			1,309,187,828.00		2,897,476.27	0.00		0.00		0.00		2,897,476.27		6,811,320.33		0.00



Page 3 of 27
Morgan Stanley ABS Capital I Inc. 2004-WMC2

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
REMIC 2004-WMC2

September 27, 2004 Distribution
Collection Account Report
SUMMARY
SUMMARY
									Group 2		Group 1		Total
Principal Collections									13,307,461.32		12,830,071.75		26,137,533.07
Principal Withrawals									0.00		0.00		0.00
Principal Other Accounts									3,513,781.91		2,517,383.30		6,031,165.21
TOTAL NET PRINCIPAL									16,821,243.23		15,347,455.05		32,168,698.28
Interest Collections									3,136,306.67		3,743,539.79		6,879,846.47
Interest Withdrawals									-0.00		-0.00		-0.00
Interest Other Accounts									0.00		0.00		18,215.95
Interest Fees									-38,639.03		-48,103.33		-86,742.36
TOTAL NET INTEREST									3,097,667.64		3,695,436.47		6,811,320.06
TOTAL AVAILABLE FUNDS FOR DISTRIBUTION									19,918,910.87		19,042,891.52		38,980,018.34



PRINCIPAL - COLLECTIONS
PRINCIPAL - COLLECTIONS
										Group 2		Group 1		Total
Scheduled Principal Received										418,476.49		587,760.59		1,006,237.08
Prepayments In Full										12,861,875.85		12,215,934.72		25,077,810.57
Curtailments										27,108.98		26,376.44		53,485.42
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										-367,651.28		-500,663.98		-868,315.26
Advanced Principal										367,651.28		500,663.98		868,315.26
TOTAL PRINCIPAL COLLECTED										13,307,461.32		12,830,071.75		26,137,533.07


PRINCIPAL - WITHDRAWALS

SPACE INTENTIONALLY LEFT BLANK



PRINCIPAL - OTHER ACCOUNTS
PRINCIPAL - OTHER ACCOUNTS
									Group 2		Group 1		Total
Closing Deposit									3,513,781.91		2,517,383.30		6,031,165.21
TOTAL OTHER ACCOUNTS PRINCIPAL									3,513,781.91		2,517,383.30		6,031,165.21





Page 4 of 27
Morgan Stanley ABS Capital I Inc. 2004-WMC2

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
REMIC 2004-WMC2

September 27, 2004 Distribution

INTEREST - COLLECTIONS
INTEREST - COLLECTIONS
									Group 2		Group 1		Total
Scheduled Interest									3,347,797.25		3,992,107.27		7,339,904.51
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
Prepayment Interest Shortfalls									-22,344.29		-15,263.34		-37,607.63
Compensating Interest									22,344.29		15,263.34		37,607.63
Delinquent Interest									-2,857,232.52		-3,374,637.54		-6,231,870.07
Interest Advanced									2,645,741.95		3,126,070.07		5,771,812.02
TOTAL INTEREST COLLECTED									3,136,306.67		3,743,539.79		6,879,846.47


INTEREST - WITHDRAWALS
INTEREST - WITHDRAWALS
									Group 2		Group 1		Total
Nonrecoverable Advances									0.00		0.00		0.00
TOTAL INTEREST WITHDRAWALS									0.00		0.00		0.00



INTEREST - OTHER ACCOUNTS
INTEREST - OTHER ACCOUNTS
									Group 2		Group 1		Total
Prepayment Charges													18,215.95
TOTAL INTEREST OTHER ACCOUNTS									0.00		0.00		18,215.95



INTEREST - FEES
INTEREST - FEES
									Group 2		Group 1		Total
Current Servicing Fees									36,890.12		46,033.78		82,923.90
Current Trustee Fees									1,748.91		2,069.55		3,818.46
TOTAL INTEREST OTHER FEES									38,639.03		48,103.33		86,742.36




Page 5 of 27
Morgan Stanley ABS Capital I Inc. 2004-WMC2

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
REMIC 2004-WMC2

September 27, 2004 Distribution
Credit Enhancement Report
ACCOUNTS

SPACE INTENTIONALLY LEFT BLANK



INSURANCE

SPACE INTENTIONALLY LEFT BLANK



STRUCTURAL FEATURES
STRUCTURAL FEATURES
									Group 2		Group 1		Total
Overcollateralization Amount													26,183,828.27
Overcollateralization Target Amount													26,183,756.57
Overcollateralization Deficiency Amount													0.00
Overcollateralization Release Amount													71.70




Page 6 of 27
Morgan Stanley ABS Capital I Inc. 2004-WMC2

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
REMIC 2004-WMC2

September 27, 2004 Distribution
Collateral Report


COLLATERAL



										Group 2		Group 1		Total



*Loan Count:*


Original									2,265		4,801		7,066
Prior									2,265		4,801		7,066
Prefunding									0		0		0
Scheduled Paid Offs									-0		-0		-0
Full Voluntary Prepayments									-45		-75		-120
Repurchases									-0		-0		-0
Liquidations									-0		-0		-0
Current									2,220		4,726		6,946
*Principal Balance:*


Original									596,113,665.80		707,042,997.26		1,303,156,663.06
Prior									596,113,665.80		707,042,997.26		1,303,156,663.06
Prefunding									0.00		0.00		0.00
Scheduled Principal									-418,476.49		-587,760.59		-1,006,237.08
Partial Prepayments									-27,108.98		-26,376.44		-53,485.42
Full Voluntary Prepayments									-12,861,875.85		-12,215,934.72		-25,077,810.57
Repurchases									-0.00		-0.00		-0.00
Liquidations									-0.00		-0.00		-0.00
Current									582,806,204.48		694,212,925.51		1,277,019,129.99





PREFUNDING

SPACE INTENTIONALLY LEFT BLANK






Page 7 of 27
Morgan Stanley ABS Capital I Inc. 2004-WMC2

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
REMIC 2004-WMC2

September 27, 2004 Distribution

CHARACTERISTICS
CHARACTERISTICS
									Group 2		Group 1		Total
Weighted Average Coupon Original									6.73925%		6.77544%		6.75888%
Weighted Average Coupon Prior									6.73925%		6.77544%		6.75888%
Weighted Average Coupon Current									6.73925%		6.77544%		6.75888%
Weighted Average Months to Maturity Original									344		345		345
Weighted Average Months to Maturity Prior									344		345		345
Weighted Average Months to Maturity Current									344		345		345
Weighted Avg Remaining Amortization Term Original									344		345		345
Weighted Avg Remaining Amortization Term Prior									344		345		345
Weighted Avg Remaining Amortization Term Current									344		345		345
Weighted Average Seasoning Original									4.05		4.04		4.04
Weighted Average Seasoning Prior									4.05		4.04		4.04
Weighted Average Seasoning Current									4.05		4.04		4.04









Page 8 of 27
Morgan Stanley ABS Capital I Inc. 2004-WMC2

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
REMIC 2004-WMC2

September 27, 2004 Distribution

ARM CHARACTERISTICS
ARM CHARACTERISTICS
									Group 2		Group 1		Total
Weighted Average Margin Original									5.90572%		5.99280%		5.95183%
Weighted Average Margin Prior									5.90572%		5.99280%		5.95183%
Weighted Average Margin Current									5.90572%		5.99280%		5.95183%
Weighted Average Max Rate Original									12.86713%		12.98635%		12.93026%
Weighted Average Max Rate Prior									12.86713%		12.98635%		12.93026%
Weighted Average Max Rate Current									12.86713%		12.98635%		12.93026%
Weighted Average Min Rate Original									6.37254%		6.48468%		6.43192%
Weighted Average Min Rate Prior									6.37254%		6.48468%		6.43192%
Weighted Average Min Rate Current									6.37254%		6.48468%		6.43192%
Weighted Average Cap Up Original									1.00023%		1.00016%		1.00019%
Weighted Average Cap Up Prior									1.00023%		1.00016%		1.00019%
Weighted Average Cap Up Current									1.00023%		1.00016%		1.00019%
Weighted Average Cap Down Original									1.00023%		1.00016%		1.00019%
Weighted Average Cap Down Prior									1.00023%		1.00016%		1.00019%
Weighted Average Cap Down Current									1.00023%		1.00016%		1.00019%




SERVICING FEES & ADVANCES

										Group 2		Group 1		Total




Current Servicing Fees									36,890.12		46,033.78		82,923.90
Delinquent Servicing Fees									211,490.58		248,567.47		460,058.05
TOTAL SERVICING FEES									248,380.70		294,601.26		542,981.96


Compensating Interest									-22,344.29		-15,263.34		-37,607.63
Delinquent Servicing Fees									-211,490.58		-248,567.47		-460,058.05
COLLECTED SERVICING FEES									137,665.95		30,770.45		45,316.28


Aggregate Advances with respect to this Distribution									2,254,986.69		2,605,683.79		4,860,670.48





ADDITIONAL COLLATERAL INFORMATION
									Group 2		Group 1		Total
Net Prepayment Interest Shortfall									0.00		0.00		0.00
Libor For Current Period													1.6000%




Page 9 of 27
Morgan Stanley ABS Capital I Inc. 2004-WMC2

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
REMIC 2004-WMC2

September 27, 2004 Distribution
Delinquency Report

	TOTAL
					< 1 PAYMENT	1 PAYMENT		2 PAYMENTS		3+ PAYMENTS		TOTAL
	DELINQUENT		Balance			8,217,019.32		0.00		0.00		8,217,019.32
			% Balance			0.64%		0.00%		0.00%		0.64%
			# Loans			40		0		0		40
			% # Loans			0.58%		0.00%		0.00%		0.58%
	FORECLOSURE		Balance		0.00	0.00		0.00		0.00		0.00
			% Balance		0.00%	0.00%		0.00%		0.00%		0.00%
			# Loans		0	0		0		0		0
			% # Loans		0.00%	0.00%		0.00%		0.00%		0.00%
	BANKRUPTCY		Balance		0.00	0.00		0.00		0.00		0.00
			% Balance		0.00%	0.00%		0.00%		0.00%		0.00%
			# Loans		0	0		0		0		0
			% # Loans		0.00%	0.00%		0.00%		0.00%		0.00%
	REO		Balance		0.00	0.00		0.00		0.00		0.00
			% Balance		0.00%	0.00%		0.00%		0.00%		0.00%
			# Loans		0	0		0		0		0
			% # Loans		0.00%	0.00%		0.00%		0.00%		0.00%
	TOTAL		Balance		0.00	8,217,019.32		0.00		0.00		8,217,019.32
			% Balance		0.00%	0.64%		0.00%		0.00%		0.64%
			# Loans		0	40		0		0		40
			% # Loans		0.00%	0.58%		0.00%		0.00%		0.58%









Page 10 of 27
Morgan Stanley ABS Capital I Inc. 2004-WMC2

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
REMIC 2004-WMC2

September 27, 2004 Distribution


	GROUP 1
					< 1 PAYMENT	1 PAYMENT		2 PAYMENTS		3+ PAYMENTS		TOTAL
	DELINQUENT		Balance			3,522,961.46		0.00		0.00		3,522,961.46
			% Balance			0.51%		0.00%		0.00%		0.51%
			# Loans			24		0		0		24
			% # Loans			0.51%		0.00%		0.00%		0.51%
	FORECLOSURE		Balance		0.00	0.00		0.00		0.00		0.00
			% Balance		0.00%	0.00%		0.00%		0.00%		0.00%
			# Loans		0	0		0		0		0
			% # Loans		0.00%	0.00%		0.00%		0.00%		0.00%
	BANKRUPTCY		Balance		0.00	0.00		0.00		0.00		0.00
			% Balance		0.00%	0.00%		0.00%		0.00%		0.00%
			# Loans		0	0		0		0		0
			% # Loans		0.00%	0.00%		0.00%		0.00%		0.00%
	REO		Balance		0.00	0.00		0.00		0.00		0.00
			% Balance		0.00%	0.00%		0.00%		0.00%		0.00%
			# Loans		0	0		0		0		0
			% # Loans		0.00%	0.00%		0.00%		0.00%		0.00%
	TOTAL		Balance		0.00	3,522,961.46		0.00		0.00		3,522,961.46
			% Balance		0.00%	0.51%		0.00%		0.00%		0.51%
			# Loans		0	24		0		0		24
			% # Loans		0.00%	0.51%		0.00%		0.00%		0.51%










Page 11 of 27
Morgan Stanley ABS Capital I Inc. 2004-WMC2

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
REMIC 2004-WMC2

September 27, 2004 Distribution

	GROUP 2
					< 1 PAYMENT	1 PAYMENT		2 PAYMENTS		3+ PAYMENTS		TOTAL
	DELINQUENT		Balance			4,694,057.86		0.00		0.00		4,694,057.86
			% Balance			0.81%		0.00%		0.00%		0.81%
			# Loans			16		0		0		16
			% # Loans			0.72%		0.00%		0.00%		0.72%
	FORECLOSURE		Balance		0.00	0.00		0.00		0.00		0.00
			% Balance		0.00%	0.00%		0.00%		0.00%		0.00%
			# Loans		0	0		0		0		0
			% # Loans		0.00%	0.00%		0.00%		0.00%		0.00%
	BANKRUPTCY		Balance		0.00	0.00		0.00		0.00		0.00
			% Balance		0.00%	0.00%		0.00%		0.00%		0.00%
			# Loans		0	0		0		0		0
			% # Loans		0.00%	0.00%		0.00%		0.00%		0.00%
	REO		Balance		0.00	0.00		0.00		0.00		0.00
			% Balance		0.00%	0.00%		0.00%		0.00%		0.00%
			# Loans		0	0		0		0		0
			% # Loans		0.00%	0.00%		0.00%		0.00%		0.00%
	TOTAL		Balance		0.00	4,694,057.86		0.00		0.00		4,694,057.86
			% Balance		0.00%	0.81%		0.00%		0.00%		0.81%
			# Loans		0	16		0		0		16
			% # Loans		0.00%	0.72%		0.00%		0.00%		0.72%









Page 12 of 27
Morgan Stanley ABS Capital I Inc. 2004-WMC2

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
REMIC 2004-WMC2

September 27, 2004 Distribution
REO Report
Loan Number			Original		Stated			Current		State &

													First
&			Principal		Principal	Paid to		Note		LTV at		Original		Payment

Loan Group			Balance		Balance	Date		Rate		Origination		Term		Date
SPACE INTENTIONALLY LEFT BLANK
SPACE INTENTIONALLY LEFT BLANK



TOTAL



Page 13 of 27
Morgan Stanley ABS Capital I Inc. 2004-WMC2

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
REMIC 2004-WMC2

September 27, 2004 Distribution
Foreclosure Report
Loan Number			Original		Stated			Current		State &

													First
&			Principal		Principal	Paid to		Note		LTV at		Original		Payment

Loan Group			Balance		Balance	Date		Rate		Origination		Term		Date




TOTAL



Page 14 of 27
Morgan Stanley ABS Capital I Inc. 2004-WMC2

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
REMIC 2004-WMC2

September 27, 2004 Distribution
Prepayment Report

VOLUNTARY PREPAYMENTS
VOLUNTARY PREPAYMENTS

										Group 2		Group 1		Total




*Current*


Number of Paid in Full Loans									45		75		120
Number of Repurchased Loans									0		0		0
Total Number of Loans Prepaid in Full									45		75		120
Curtailments Amount									27,108.98		26,376.44		53,485.42
Paid in Full Balance									12,861,875.85		12,215,934.72		25,077,810.57
Repurchased Loans Balance									0.00		0.00		0.00
Total Prepayment Amount									12,888,984.83		12,242,311.16		25,131,295.99

*Cumulative*


Number of Paid in Full Loans									45		75		120
Number of Repurchased Loans									0		0		0
Total Number of Loans Prepaid in Full									45		75		120
Paid in Full Balance									12,861,875.85		12,215,934.72		25,077,810.57
Repurchased Loans Balance									0.00		0.00		0.00
Curtailments Amount									27,108.98		26,376.44		53,485.42
Total Prepayment Amount									12,888,984.83		12,242,311.16		25,131,295.99










Page 15 of 27
Morgan Stanley ABS Capital I Inc. 2004-WMC2

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
REMIC 2004-WMC2

September 27, 2004 Distribution

VOLUNTARY PREPAYMENTS RATES
VOLUNTARY PREPAYMENTS RATES

										Group 2		Group 1		Total



SMM									2.16%		1.73%		1.93%
3 Months Avg SMM									2.16%		1.73%		1.93%
12 Months Avg SMM									2.16%		1.73%		1.93%
Avg SMM Since Cut-off									2.16%		1.73%		1.93%


CPR									23.09%		18.92%		20.85%
3 Months Avg CPR									23.09%		18.92%		20.85%
12 Months Avg CPR									23.09%		18.92%		20.85%
Avg CPR Since Cut-off									23.09%		18.92%		20.85%


PSA									2,852.89%		2,341.04%		2,578.43%
3 Months Avg PSA Approximation									2,852.89%		2,341.04%		2,578.43%
12 Months Avg PSA Approximation									2,852.89%		2,341.04%		2,578.43%
Avg PSA Since Cut-off Approximation									2,852.89%		2,341.04%		2,578.43%










Page 16 of 27
Morgan Stanley ABS Capital I Inc. 2004-WMC2

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
REMIC 2004-WMC2

September 27, 2004 Distribution






PREPAYMENT CALCULATION METHODOLOGY

	Single Monthly Mortality (SMM): (Voluntary partial and full prepayments + Repurchases + Liquidations )/(Beg Principal Balance - Sched Principal)

	Conditional Prepayment Rate (CPR): 1-((1-SMM)^12)
	PSA Standard Prepayment Model: CPR/(0.002*min(30,WAS))
	PSA Standard Prepayment Model: CPR/(0.002*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/(0.002*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, liquidations, and repurchases.
	Dates correspond to distribution dates.




Page 17 of 27
Morgan Stanley ABS Capital I Inc. 2004-WMC2

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
REMIC 2004-WMC2

September 27, 2004 Distribution
Prepayment Detail Report
Prepayment Detail Report - Mortgage Loans Prepaid in Full During Current Distribution
Loan Number			Original						Current		State &		Type Prepayment		First
Loan Number			Original						Current		State &		Type Prepayment

&		Loan	Principal		Prepayment		Prepayment		Note		LTV at		&		Payment

Loan Group		Status	Balance		Amount		Date		Rate		Origination		Original Term		Date

10934509 1			139,200.00		138,783.15		19-Aug-2004		8.625%		VA - 80.00%		Paid Off - 360		01-Apr-2004
10934509 1			139,200.00		138,783.15		19-Aug-2004		8.625%		VA - 80.00%		Paid Off - 360		01-Apr-2004
10934688 1			185,600.00		184,751.92		03-Sep-2004		6.500%		CA - 80.00%		Paid Off - 360		01-Apr-2004
10934695 1			46,400.00		46,306.18		09-Sep-2004		10.500%		CA - 20.00%		Paid Off - 180		01-Apr-2004
10938416 1			104,000.00		103,738.69		30-Aug-2004		8.375%		DC - 80.00%		Paid Off - 360		01-May-2004
10938591 1			260,000.00		260,000.00		09-Sep-2004		6.500%		CA - 80.00%		Paid Off - 360		01-May-2004
10938594 1			65,000.00		64,870.57		09-Sep-2004		9.500%		CA - 20.00%		Paid Off - 180		01-May-2004
10939177 1			188,000.00		187,218.91		01-Sep-2004		6.990%		CA - 81.74%		Paid Off - 360		01-Apr-2004
10940696 1			320,000.00		318,502.27		02-Sep-2004		6.375%		CA - 69.57%		Paid Off - 360		01-Apr-2004
10943756 1			184,800.00		184,298.01		02-Sep-2004		7.990%		CA - 80.00%		Paid Off - 360		01-May-2004
10943757 1			46,200.00		46,125.59		02-Sep-2004		10.500%		CA - 20.00%		Paid Off - 180		01-May-2004
10943771 1			139,650.00		139,121.71		24-Aug-2004		7.500%		NV - 95.00%		Paid Off - 360		01-Apr-2004
10943948 1			120,000.00		119,549.09		02-Aug-2004		7.500%		FL - 58.25%		Paid Off - 360		01-Apr-2004
10944443 1			164,000.00		163,400.00		02-Sep-2004		6.490%		CA - 80.00%		Paid Off - 360		01-May-2004
10944445 1			41,000.00		40,938.24		02-Sep-2004		10.875%		CA - 20.00%		Paid Off - 180		01-May-2004
10944581 2			380,500.00		378,861.42		25-Aug-2004		5.625%		MD - 72.48%		Paid Off - 360		01-May-2004
10948389 1			260,000.00		258,799.23		03-Sep-2004		5.250%		CA - 80.00%		Paid Off - 360		01-May-2004
10948391 1			65,000.00		64,832.50		03-Sep-2004		8.250%		CA - 20.00%		Paid Off - 180		01-May-2004
10948679 1			295,000.00		293,551.69		15-Sep-2004		6.125%		CA - 83.10%		Paid Off - 360		01-Apr-2004
10948997 1			159,000.00		158,568.09		11-Aug-2004		7.990%		CA - 69.43%		Paid Off - 360		01-May-2004
10949583 1			148,000.00		147,185.47		27-Aug-2004		6.875%		CA - 80.00%		Paid Off - 360		01-May-2004
10949584 1			37,000.00		36,926.32		27-Aug-2004		9.500%		CA - 20.00%		Paid Off - 180		01-May-2004
10949689 2			416,250.00		415,399.26		26-Aug-2004		9.375%		CA - 75.00%		Paid Off - 360		01-May-2004
10950146 2			82,000.00		81,878.18		24-Aug-2004		10.875%		CA - 20.00%		Paid Off - 180		01-May-2004
10951773 2			567,960.00		567,960.00		27-Aug-2004		5.625%		CA - 80.00%		Paid Off - 360		01-May-2004
10951774 2			141,990.00		141,761.31		27-Aug-2004		10.500%		CA - 20.00%		Paid Off - 180		01-May-2004
10952239 1			158,000.00		157,409.99		08-Sep-2004		6.375%		CA - 94.61%		Paid Off - 360		01-May-2004
10953292 1			172,000.00		171,341.79		02-Sep-2004		6.250%		CA - 80.00%		Paid Off - 360		01-May-2004
10953937 1			333,000.00		331,998.62		13-Sep-2004		5.990%		CA - 90.00%		Paid Off - 360		01-Jun-2004
10954166 2			497,250.00		495,057.91		13-Sep-2004		5.500%		CA - 85.00%		Paid Off - 360		01-May-2004
10954672 1			148,000.00		147,420.20		01-Sep-2004		6.125%		CA - 79.14%		Paid Off - 360		01-May-2004
10954708 1			26,000.00		25,961.38		01-Sep-2004		10.875%		CA - 13.90%		Paid Off - 180		01-May-2004
10955361 1			166,250.00		165,902.77		15-Sep-2004		7.850%		MI - 95.00%		Paid Off - 360		01-Jun-2004
10955674 1			115,600.00		115,050.66		02-Aug-2004		7.250%		CA - 70.06%		Paid Off - 360		01-Mar-2004
10955852 2			255,000.00		254,482.22		13-Aug-2004		7.990%		NC - 75.00%		Paid Off - 360		01-Jun-2004
10956382 2			190,000.00		189,441.26		26-Aug-2004		6.250%		CA - 84.44%		Paid Off - 360		01-Jun-2004
10956584 1			199,500.00		198,902.21		30-Aug-2004		7.500%		CA - 95.00%		Paid Off - 360		01-May-2004
10956677 1			324,000.00		323,178.71		01-Sep-2004		6.875%		CA - 80.00%		Paid Off - 360		01-Jun-2004
10956677 1			324,000.00		323,178.71		01-Sep-2004		6.875%		CA - 80.00%		Paid Off - 360		01-Jun-2004



Page 18 of 27
Morgan Stanley ABS Capital I Inc. 2004-WMC2

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
REMIC 2004-WMC2

September 27, 2004 Distribution

Prepayment Detail Report - Mortgage Loans Prepaid in Full During Current Distribution
Loan Number			Original						Current		State &		Type Prepayment		First
Loan Number			Original						Current		State &		Type Prepayment

&		Loan	Principal		Prepayment		Prepayment		Note		LTV at		&		Payment

Loan Group		Status	Balance		Amount		Date		Rate		Origination		Original Term		Date

10956678 2			81,000.00		80,910.15		02-Sep-2004		10.875%		CA - 20.00%		Paid Off - 180		01-Jun-2004
10956678 2			81,000.00		80,910.15		02-Sep-2004		10.875%		CA - 20.00%		Paid Off - 180		01-Jun-2004
10957021 2			58,100.00		58,008.95		30-Aug-2004		9.250%		LA - 70.00%		Paid Off - 360		01-Jun-2004
10957600 2			360,000.00		358,687.62		30-Aug-2004		6.500%		NJ - 80.00%		Paid Off - 360		01-May-2004
10957601 2			67,500.00		67,421.42		30-Aug-2004		11.990%		NJ - 15.00%		Paid Off - 180		01-May-2004
10958493 1			123,600.00		123,293.69		26-Aug-2004		6.990%		WI - 80.00%		Paid Off - 360		01-Jun-2004
10958494 1			30,900.00		30,862.86		26-Aug-2004		10.500%		WI - 20.00%		Paid Off - 180		01-Jun-2004
10958742 1			56,600.00		56,524.10		23-Aug-2004		9.990%		CA - 20.00%		Paid Off - 180		01-Jun-2004
10959235 2			546,250.00		544,686.96		01-Sep-2004		6.250%		CA - 95.00%		Paid Off - 360		01-Jun-2004
10959436 1			297,000.00		296,589.86		03-Aug-2004		7.875%		CA - 100.00%		Paid Off - 360		01-Jul-2004
10959676 1			183,480.00		182,954.99		23-Aug-2004		6.250%		WI - 80.00%		Paid Off - 360		01-Jun-2004
10959679 1			45,870.00		45,805.28		27-Aug-2004		9.750%		WI - 20.00%		Paid Off - 180		01-Jun-2004
10959838 2			370,000.00		368,618.25		09-Aug-2004		6.375%		CA - 89.81%		Paid Off - 360		01-May-2004
10961266 2			389,500.00		389,500.00		04-Aug-2004		6.500%		CA - 95.00%		Paid Off - 360		01-Jun-2004
10961546 2			492,000.00		490,780.69		04-Aug-2004		6.990%		CA - 80.00%		Paid Off - 360		01-Jun-2004
10961568 1			247,500.00		246,118.38		04-Aug-2004		6.625%		CA - 75.00%		Paid Off - 360		01-Jun-2004
10961840 1			300,000.00		298,986.99		13-Aug-2004		5.375%		CA - 74.07%		Paid Off - 360		01-Jun-2004
10961892 1			212,000.00		211,449.32		24-Aug-2004		6.750%		IL - 78.23%		Paid Off - 360		01-Jun-2004
10961936 2			392,000.00		392,000.00		16-Aug-2004		6.750%		CA - 80.00%		Paid Off - 360		01-Jun-2004
10961938 2			98,000.00		97,891.31		16-Aug-2004		10.875%		CA - 20.00%		Paid Off - 180		01-Jun-2004
10962115 1			242,000.00		241,557.07		04-Aug-2004		8.500%		CA - 74.46%		Paid Off - 360		01-Jun-2004
10962145 1			206,400.00		205,837.19		19-Aug-2004		6.500%		CA - 80.00%		Paid Off - 360		01-Jun-2004
10962146 1			38,700.00		38,657.07		19-Aug-2004		10.875%		CA - 15.00%		Paid Off - 180		01-Jun-2004
10962323 1			168,000.00		167,722.05		19-Aug-2004		8.990%		CA - 80.00%		Paid Off - 360		01-Jun-2004
10962546 1			184,300.00		183,843.27		31-Aug-2004		6.990%		CA - 95.00%		Paid Off - 360		01-Jun-2004
10962587 1			180,000.00		180,000.00		15-Sep-2004		5.875%		CA - 80.00%		Paid Off - 360		01-Jun-2004
10962664 2			466,400.00		465,188.53		14-Sep-2004		6.750%		CA - 80.00%		Paid Off - 360		01-Jun-2004
10962665 2			116,600.00		116,470.67		14-Sep-2004		10.875%		CA - 20.00%		Paid Off - 180		01-Jun-2004
10962788 2			54,750.00		54,687.61		25-Aug-2004		10.750%		CA - 15.00%		Paid Off - 360		01-Jun-2004
10962913 1			50,000.00		49,890.74		30-Aug-2004		7.625%		CA - 27.03%		Paid Off - 360		01-Jun-2004
10963323 2			204,000.00		203,494.41		08-Sep-2004		6.990%		MD - 85.00%		Paid Off - 360		01-Jun-2004
10963399 2			343,200.00		342,391.95		25-Aug-2004		7.250%		CA - 80.00%		Paid Off - 360		01-Jun-2004
10963401 2			85,800.00		85,704.83		25-Aug-2004		10.875%		CA - 20.00%		Paid Off - 180		01-Jun-2004
10963615 2			180,050.00		179,850.30		31-Aug-2004		10.875%		CA - 26.48%		Paid Off - 180		01-Jun-2004
10963640 1			73,800.00		73,623.01		09-Sep-2004		8.000%		MI - 90.00%		Paid Off - 360		01-Jun-2004
10963879 1			195,000.00		194,052.72		23-Aug-2004		5.600%		RI - 92.86%		Paid Off - 360		01-May-2004
10964145 1			195,500.00		194,420.21		06-Aug-2004		5.500%		CA - 85.00%		Paid Off - 360		01-Apr-2004
10964466 2			364,000.00		363,163.47		16-Aug-2004		7.875%		CA - 89.88%		Paid Off - 360		01-Jun-2004
10964871 2			405,000.00		403,782.08		19-Aug-2004		5.990%		CA - 90.00%		Paid Off - 360		01-Jun-2004
10964871 2			405,000.00		403,782.08		19-Aug-2004		5.990%		CA - 90.00%		Paid Off - 360		01-Jun-2004



Page 19 of 27
Morgan Stanley ABS Capital I Inc. 2004-WMC2

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
REMIC 2004-WMC2

September 27, 2004 Distribution

Prepayment Detail Report - Mortgage Loans Prepaid in Full During Current Distribution
Loan Number			Original						Current		State &		Type Prepayment		First
Loan Number			Original						Current		State &		Type Prepayment

&		Loan	Principal		Prepayment		Prepayment		Note		LTV at		&		Payment

Loan Group		Status	Balance		Amount		Date		Rate		Origination		Original Term		Date

10965793 1			61,750.00		61,621.67		05-Aug-2004		7.875%		GA - 95.00%		Paid Off - 360		01-Jun-2004
10965793 1			61,750.00		61,621.67		05-Aug-2004		7.875%		GA - 95.00%		Paid Off - 360		01-Jun-2004
10965971 2			100,000.00		99,786.52		13-Sep-2004		8.750%		TX - 42.55%		Paid Off - 360		01-Jun-2004
10966060 1			256,000.00		255,267.48		08-Sep-2004		6.250%		CA - 80.00%		Paid Off - 360		01-Jun-2004
10966713 1			277,500.00		276,472.40		02-Sep-2004		4.876%		CA - 75.00%		Paid Off - 360		01-Jun-2004
10966744 1			300,000.00		299,256.51		30-Aug-2004		6.990%		IL - 66.08%		Paid Off - 360		01-Jun-2004
10966910 1			225,000.00		224,340.60		19-Aug-2004		6.125%		MN - 81.82%		Paid Off - 360		01-Jun-2004
10967106 2			400,000.00		398,986.06		01-Sep-2004		6.875%		MD - 80.00%		Paid Off - 360		01-Jun-2004
10967136 1			150,400.00		150,045.90		03-Sep-2004		7.250%		CA - 80.00%		Paid Off - 360		01-Jun-2004
10967137 1			37,600.00		37,558.29		03-Sep-2004		10.875%		CA - 20.00%		Paid Off - 180		01-Jun-2004
10967687 1			263,100.00		262,365.06		23-Aug-2004		6.375%		CA - 79.73%		Paid Off - 360		01-Jun-2004
10967719 1			244,000.00		243,150.41		13-Aug-2004		6.250%		CA - 80.00%		Paid Off - 360		01-Jun-2004
10967720 1			61,000.00		60,887.53		13-Aug-2004		9.750%		CA - 20.00%		Paid Off - 180		01-Jun-2004
10968443 2			490,000.00		488,597.94		19-Aug-2004		6.250%		MD - 81.67%		Paid Off - 360		01-Jun-2004
10968468 1			167,200.00		165,971.34		19-Aug-2004		6.875%		MD - 80.00%		Paid Off - 360		01-Jun-2004
10968469 1			41,800.00		41,741.02		19-Aug-2004		9.750%		MD - 20.00%		Paid Off - 180		01-Jun-2004
10968470 2			388,000.00		387,108.83		31-Aug-2004		7.375%		MD - 80.00%		Paid Off - 360		01-Jun-2004
10969095 2			157,500.00		157,196.64		11-Aug-2004		8.250%		MD - 84.00%		Paid Off - 360		01-Jun-2004
10969487 1			128,250.00		127,992.72		19-Aug-2004		8.050%		ID - 95.00%		Paid Off - 360		01-Jun-2004
10970170 2			399,000.00		399,000.00		13-Aug-2004		6.990%		CA - 89.66%		Paid Off - 360		01-Jul-2004
10970373 2			148,000.00		147,819.68		09-Sep-2004		8.490%		IL - 82.22%		Paid Off - 360		01-Jul-2004
10970469 1			297,900.00		297,900.00		12-Aug-2004		5.990%		CA - 90.00%		Paid Off - 360		01-Jun-2004
10970636 1			66,825.00		66,650.26		24-Aug-2004		6.750%		IL - 90.00%		Paid Off - 360		01-Jun-2004
10970814 1			306,000.00		305,205.17		08-Sep-2004		6.750%		IL - 90.00%		Paid Off - 360		01-Jun-2004
10970915 2			322,500.00		321,823.69		27-Aug-2004		5.740%		IL - 74.65%		Paid Off - 360		01-Jul-2004
10971658 2			446,500.00		445,867.70		06-Aug-2004		7.750%		MD - 95.00%		Paid Off - 360		01-Jul-2004
10971659 1			39,200.00		39,171.15		15-Sep-2004		10.875%		CA - 20.00%		Paid Off - 360		01-Jul-2004
10971661 1			156,800.00		156,455.97		15-Sep-2004		5.500%		CA - 80.00%		Paid Off - 360		01-Jul-2004
10971890 1			320,000.00		319,414.31		01-Sep-2004		8.500%		CA - 55.65%		Paid Off - 360		01-Jun-2004
10972101 2			540,000.00		538,728.60		20-Aug-2004		7.250%		AZ - 100.00%		Paid Off - 360		01-Jun-2004
10972528 2			400,000.00		398,855.45		16-Aug-2004		6.250%		CA - 77.67%		Paid Off - 360		01-Jun-2004
10972530 2			115,000.00		114,868.96		16-Aug-2004		10.750%		CA - 22.33%		Paid Off - 360		01-Jun-2004
10972554 2			25,800.00		25,771.37		24-Aug-2004		10.875%		CA - 20.00%		Paid Off - 360		01-Jun-2004
10972555 1			103,200.00		102,968.34		24-Aug-2004		7.490%		CA - 80.00%		Paid Off - 360		01-Jun-2004
10973072 2			412,000.00		411,909.48		17-Aug-2004		5.250%		CA - 80.00%		Paid Off - 360		01-Jun-2004
10973075 2			103,000.00		102,838.56		17-Aug-2004		9.250%		CA - 20.00%		Paid Off - 360		01-Jun-2004
10973197 1			100,000.00		99,790.70		19-Aug-2004		5.750%		MI - 78.13%		Paid Off - 360		01-Jul-2004
10973710 1			205,000.00		204,662.94		07-Sep-2004		7.000%		CT - 89.13%		Paid Off - 360		01-Jul-2004
10974708 2			400,000.00		399,309.28		23-Aug-2004		6.750%		CA - 80.00%		Paid Off - 360		01-Jul-2004
10974708 2			400,000.00		399,309.28		23-Aug-2004		6.750%		CA - 80.00%		Paid Off - 360		01-Jul-2004



Page 20 of 27
Morgan Stanley ABS Capital I Inc. 2004-WMC2

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
REMIC 2004-WMC2

September 27, 2004 Distribution

Prepayment Detail Report - Mortgage Loans Prepaid in Full During Current Distribution
Loan Number			Original						Current		State &		Type Prepayment		First
Loan Number			Original						Current		State &		Type Prepayment

&		Loan	Principal		Prepayment		Prepayment		Note		LTV at		&		Payment

Loan Group		Status	Balance		Amount		Date		Rate		Origination		Original Term		Date

10974866 1			62,503.00		62,418.68		04-Aug-2004		7.990%		CA - 20.00%		Paid Off - 360		01-Jul-2004
10974866 1			62,503.00		62,418.68		04-Aug-2004		7.990%		CA - 20.00%		Paid Off - 360		01-Jul-2004
10975571 1			248,000.00		247,455.85		03-Sep-2004		5.500%		CA - 80.00%		Paid Off - 360		01-Jul-2004
10975572 1			46,500.00		46,458.59		03-Sep-2004		9.990%		CA - 15.00%		Paid Off - 180		01-Jul-2004
10975586 2			75,000.00		74,940.14		23-Aug-2004		10.500%		CA - 15.00%		Paid Off - 180		01-Jul-2004
10975805 1			252,000.00		251,497.01		07-Sep-2004		6.000%		CA - 90.00%		Paid Off - 360		01-Jul-2004
10976788 2			361,000.00		360,386.19		24-Aug-2004		7.500%		CA - 95.00%		Paid Off - 360		01-Jul-2004
10977295 1			192,750.00		192,392.06		23-Aug-2004		6.376%		CA - 74.85%		Paid Off - 360		01-Jul-2004


TOTAL			25,139,528.00		25,077,810.57
TOTAL


Page 21 of 27
Morgan Stanley ABS Capital I Inc. 2004-WMC2

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
REMIC 2004-WMC2

September 27, 2004 Distribution
Realized Loss Report

COLLATERAL REALIZED LOSSES



										Group 2		Group 1		Total


*Current*
*Current*



Number of Loans Liquidated									0		0		0
Collateral Principal Realized Loss/(Gain) Amount									0.00		0.00		0.00
Collateral Interest Realized Loss/(Gain) Amount									0.00		0.00		0.00
Net Liquidation Proceeds									0.00		0.00		0.00

*Cumulative*
*Cumulative*



Number of Loans Liquidated									0		0		0
Collateral Realized Loss/(Gain) Amount									0.00		0.00		0.00
Net Liquidation Proceeds									0.00		0.00		0.00










Page 22 of 27
Morgan Stanley ABS Capital I Inc. 2004-WMC2

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
REMIC 2004-WMC2

September 27, 2004 Distribution


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									0.00%		0.00%		0.00%
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									0.00%		0.00%		0.00%
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									0.00%		0.00%		0.00%
Avg SDA Since Cut-off Approximation									0.00%		0.00%		0.00%


Loss Severity Approximation for Current Period									0.00%		0.00%		0.00%
3 Months Avg Loss Severity Approximation									0.00%		0.00%		0.00%
12 Months Avg Loss Severity Approximation									0.00%		0.00%		0.00%
Avg Loss Severity Approximation Since Cut-off									0.00%		0.00%		0.00%












Page 23 of 27
Morgan Stanley ABS Capital I Inc. 2004-WMC2

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
REMIC 2004-WMC2

September 27, 2004 Distribution





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 27
Morgan Stanley ABS Capital I Inc. 2004-WMC2

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
REMIC 2004-WMC2

September 27, 2004 Distribution
Realized Loss Detail Report
Loan Number			Original		Prior			Current		State &

													First
&			Principal		Principal	Realized		Note		LTV at		Original		Payment

Loan Group			Balance		Balance	Loss/(Gain)		Rate		Origination		Term		Date

SPACE INTENTIONALLY LEFT BLANK
SPACE INTENTIONALLY LEFT BLANK



TOTAL



Page 25 of 27
Morgan Stanley ABS Capital I Inc. 2004-WMC2

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
REMIC 2004-WMC2

September 27, 2004 Distribution
Triggers and Adj. Cert. Report
TRIGGER EVENTS
TRIGGER EVENTS
									Group 2		Group 1		Total
Trigger Event in effect (0=No , 1=Yes)													0
Stepdown Date has occurred (0 = No, 1=Yes)													0
Balances 60+ days includes Bankruptcy and Foreclosure													0.00
Class A-3 Accelerated Event Occured (0 = No, 1=Yes)													0
Ending Balance													1,277,019,129.99
Senior Enhancement Percentage													20.2500%
Class A-3 Accelerated Amortization Amount													0



ADJUSTABLE RATE CERTIFICATE INFORMATION

SPACE INTENTIONALLY LEFT BLANK



ADDITIONAL INFORMATION
ADDITIONAL INFORMATION
									Group 2		Group 1		Total
Basis Risk CarryForward Amount paid													$6,602.44
Basis Risk CarryForward Amount unpaid													$0.00
Excess Reserve Fund Account Balance													0.00




Page 26 of 27
Morgan Stanley ABS Capital I Inc. 2004-WMC2

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
REMIC 2004-WMC2

September 27, 2004 Distribution
Other Related Information
ADDITIONAL INFORMATION
ADDITIONAL INFORMATION
									Group 2		Group 1		Total
Current Scheduled Payments									3,766,273.74		4,579,867.86		8,346,141.59
Current Scheduled Payments 1 Month Prior									0.00		0.00		0.00
Current Scheduled Payments 2 Month Prior									0.00		0.00		0.00
Current Scheduled Payments 3 Month Prior									0.00		0.00		0.00
Current Scheduled Payments 4 Month Prior									0.00		0.00		0.00
Current Scheduled Payments 5 Month Prior									0.00		0.00		0.00
Current Scheduled Payments 6 Month Prior									0.00		0.00		0.00
Current Scheduled Payments 7 Month Prior									0.00		0.00		0.00
Current Scheduled Payments 8 Month Prior									0.00		0.00		0.00
Current Scheduled Payments 9 Month Prior									0.00		0.00		0.00
Current Scheduled Payments 10 Month Prior									0.00		0.00		0.00
Current Scheduled Payments 11 Month Prior									0.00		0.00		0.00


Sched. Payments for 60+Day Delinquent Loans									0.00		0.00		0.00
Sched. Pmts - 60+Day Delinquent Loans, 1 Month Prior									0.00		0.00		0.00
Sched. Pmts - 60+Day Delinquent Loans, 2 Month Prior									0.00		0.00		0.00
Sched. Pmts - 60+Day Delinquent Loans, 3 Month Prior									0.00		0.00		0.00
Sched. Pmts - 60+Day Delinquent Loans, 4 Month Prior									0.00		0.00		0.00
Sched. Pmts - 60+Day Delinquent Loans, 5 Month Prior									0.00		0.00		0.00
Sched. Pmts - 60+Day Delinquent Loans, 6 Month Prior									0.00		0.00		0.00
Sched. Pmts - 60+Day Delinquent Loans, 7 Month Prior									0.00		0.00		0.00
Sched. Pmts - 60+Day Delinquent Loans, 8 Month Prior									0.00		0.00		0.00
Sched. Pmts - 60+Day Delinquent Loans, 9 Month Prior									0.00		0.00		0.00
Sched. Pmts - 60+Day Delinquent Loans, 10 Month Prior									0.00		0.00		0.00
Sched. Pmts - 60+Day Delinquent Loans, 11 Month Prior									0.00		0.00		0.00




Page 27 of 27

Filing Compare · Morgan Stanley ABS Capital I Inc. Trust 2004-WMC2