
                                    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): May 25, 2005
                             (Date of earliest event reported)


                                MORGAN STANLEY ABS CAPITAL I INC.
              (as Depositor under the Pooling and Servicing Agreement, dated as
             April 1, 2005, providing for the issuance of Mortgage Pass-Through
                              Certificates, Series 2005-NC2)
                      (Exact name of registrant as specified in charter)


                                         DELAWARE
                     (State or Other Jurisdiction of Incorporation)

               333-113543-30                        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. Mortgage
     Pass-Through Certificates, Series 2005-NC2, which was made on
     April 1, 2005.


     Item 9.01 Financial Statements and Exhibits.

     (c) Exhibits

     Exhibit No. Description

     99.1 Monthly Remittance Statement to the Certificateholders dated as of
     May 25, 2005.


                                  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:  Jun 02, 2005               By:  /s/  Katherine M. Wannenmacher
                                            Katherine M. Wannenmacher
                                            Vice President



                                   EXHIBIT INDEX

         DOCUMENT

         99.1 Monthly Remittance Statement to the Certificateholders dated as of
              May 25, 2005.



Morgan Stanley ABS Capital I Inc. 2005-NC2

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2005-NC2

May 25, 2005 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					6
										2. Collection Account Report					6
										3. Credit Enhancement Report					8
										4. Collateral Report					9
				Certificate Insurer(s)						5. Delinquency Report					12
				Certificate Insurer(s)						5. Delinquency Report					12
										6. REO Report					16

										7. Foreclosure Report					17
										8. Prepayment Report					18
										9. Prepayment Detail Report					21
										9. Prepayment Detail Report					21
										10. Realized Loss Report					23
										11. Realized Loss Detail Report					26
				Servicer(s)						11. Realized Loss Detail Report					26
				Servicer(s)						12. Triggers and Adj. Cert. Report					27
				HomeQ Servicing Corp.						12. Triggers and Adj. Cert. Report					27
				HomeQ Servicing Corp.						13. Other Related Information					28
				Countrywide Home Loans Srvc LP						13. Other Related Information					28
				Countrywide Home Loans Srvc LP


				Underwriter(s)
				Morgan Stanley & Co. Inc


										Total Number of Pages					28
										Total Number of Pages

				Dates						Contacts

				Cut-Off Date:			April 01, 2005			Eiko Akiyama
				Close Date:			April 29, 2005			Administrator
				First Distribution Date:			May 25, 2005			(714) 247-6328

										Address:
										1761 East St. Andrew Place, Santa Ana, CA 92514
				Distribution Date:			May 25, 2005
										Factor Information:			(800) 735-7777
				Record Date:			April 29, 2005			Factor Information:			(800) 735-7777
										Main Phone Number:			(714) 247-6000

							May 24, 2005
							May 24, 2005

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






Page 1 of 28
Morgan Stanley ABS Capital I Inc. 2005-NC2

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2005-NC2

May 25, 2005 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-1ss	SR	$	273,920,000.00		273,920,000.00		646,785.08		3,234,847.93		3,881,633.01		0.00		0.00		270,685,152.07
A-1ss	SR	$	273,920,000.00		273,920,000.00		646,785.08		3,234,847.93		3,881,633.01		0.00		0.00		270,685,152.07
A-1mz	SR	$	68,481,000.00		68,481,000.00		163,924.26		808,723.79		972,648.05		0.00		0.00		67,672,276.21
A-2ss	SR	$	235,870,000.00		235,870,000.00		556,940.70		3,921,084.75		4,478,025.45		0.00		0.00		231,948,915.25
A-2mz	SR	$	58,968,000.00		58,968,000.00		141,152.82		980,279.50		1,121,432.32		0.00		0.00		57,987,720.50
A-3a	SR	$	315,000,000.00		315,000,000.00		715,346.45		19,163,359.07		19,878,705.52		0.00		0.00		295,836,640.93
A-3b	SR	$	109,586,000.00		109,586,000.00		256,777.90		0.00		256,777.90		0.00		0.00		109,586,000.00
A-3c	SR	$	92,500,000.00		92,500,000.00		226,095.39		0.00		226,095.39		0.00		0.00		92,500,000.00
A-3mz	SR	$	57,454,000.00		57,454,000.00		137,943.67		2,129,262.12		2,267,205.79		0.00		0.00		55,324,737.88
M-1	MEZ,FLT	$	48,771,000.00		48,771,000.00		121,675.35		0.00		121,675.35		0.00		0.00		48,771,000.00
M-2	MEZ,FLT	$	44,269,000.00		44,269,000.00		111,402.79		0.00		111,402.79		0.00		0.00		44,269,000.00
M-3	MEZ,FLT	$	24,761,000.00		24,761,000.00		62,847.46		0.00		62,847.46		0.00		0.00		24,761,000.00
M-4	MEZ,FLT	$	27,012,000.00		27,012,000.00		71,682.25		0.00		71,682.25		0.00		0.00		27,012,000.00
M-5	MEZ,FLT	$	23,260,000.00		23,260,000.00		62,229.47		0.00		62,229.47		0.00		0.00		23,260,000.00
M-6	MEZ,FLT	$	22,510,000.00		22,510,000.00		61,035.79		0.00		61,035.79		0.00		0.00		22,510,000.00
B-1	SUB, FLT	$	18,758,000.00		18,758,000.00		57,365.03		0.00		57,365.03		0.00		0.00		18,758,000.00
B-2	SUB, FLT	$	17,258,000.00		17,258,000.00		54,398.12		0.00		54,398.12		0.00		0.00		17,258,000.00
B-3	SUB, FLT	$	16,507,000.00		16,507,000.00		57,395.70		0.00		57,395.70		0.00		0.00		16,507,000.00
X	EXE	$	45,770,452.00		45,770,452.00		4,718,440.74		460.71		4,718,901.45		0.00		0.00		45,769,991.29
P	NOF	$	0.00		0.00		251,547.64		0.00		251,547.64		0.00		0.00		0.00
R	RES	$	0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00


Total			1,500,655,452.00		1,500,655,452.00		8,474,986.61		30,238,017.87		38,713,004.48		0.00		0.00		1,470,417,434.13
Total





Page 2 of 28
Morgan Stanley ABS Capital I Inc. 2005-NC2

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2005-NC2

May 25, 2005 Distribution

Interest Accrual Detail Current Period Factor Information per $1,000 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-1ss	04/29/05		05/24/05		A-Act/360		61744CPR1		273,920,000.00		1,000.000000		2.361219		11.809462		14.170681	988.190538
A-1mz	04/29/05		05/24/05		A-Act/360		61744CPA8		68,481,000.00		1,000.000000		2.393719		11.809462		14.203181	988.190538
A-2ss	04/29/05		05/24/05		A-Act/360		61744CPS9		235,870,000.00		1,000.000000		2.361219		16.623923		18.985142	983.376077
A-2mz	04/29/05		05/24/05		A-Act/360		61744CPB6		58,968,000.00		1,000.000000		2.393719		16.623923		19.017642	983.376077
A-3a	04/29/05		05/24/05		A-Act/360		61744CPC4		315,000,000.00		1,000.000000		2.270941		60.836061		63.107002	939.163939
A-3b	04/29/05		05/24/05		A-Act/360		61744CPD2		109,586,000.00		1,000.000000		2.343163		0.000000		2.343163	1,000.000000
A-3c	04/29/05		05/24/05		A-Act/360		61744CPE0		92,500,000.00		1,000.000000		2.444274		0.000000		2.444274	1,000.000000
A-3mz	04/29/05		05/24/05		A-Act/360		61744CPF7		57,454,000.00		1,000.000000		2.400941		37.060294		39.461235	962.939706
M-1	04/29/05		05/24/05		A-Act/360		61744CPG5		48,771,000.00		1,000.000000		2.494830		0.000000		2.494830	1,000.000000
M-2	04/29/05		05/24/05		A-Act/360		61744CPH3		44,269,000.00		1,000.000000		2.516497		0.000000		2.516497	1,000.000000
M-3	04/29/05		05/24/05		A-Act/360		61744CPJ9		24,761,000.00		1,000.000000		2.538163		0.000000		2.538163	1,000.000000
M-4	04/29/05		05/24/05		A-Act/360		61744CPK6		27,012,000.00		1,000.000000		2.653719		0.000000		2.653719	1,000.000000
M-5	04/29/05		05/24/05		A-Act/360		61744CPL4		23,260,000.00		1,000.000000		2.675386		0.000000		2.675386	1,000.000000
M-6	04/29/05		05/24/05		A-Act/360		61744CPM2		22,510,000.00		1,000.000000		2.711497		0.000000		2.711497	1,000.000000
B-1	04/29/05		05/24/05		A-Act/360		61744CPN0		18,758,000.00		1,000.000000		3.058163		0.000000		3.058163	1,000.000000
B-2	04/29/05		05/24/05		A-Act/360		61744CPP5		17,258,000.00		1,000.000000		3.152052		0.000000		3.152052	1,000.000000
B-3	04/29/05		05/24/05		A-Act/360		61744CPQ3		16,507,000.00		1,000.000000		3.477052		0.000000		3.477052	1,000.000000
X	04/29/05		05/24/05				45,770,452.00		1,000.000000		103.089232		0.010066		103.099298		999.989934
P	04/29/05		05/24/05				0.00		0.000000		0.000000		0.000000		0.000000		0.000000
R	04/29/05		05/24/05				0.00		0.000000		0.000000		0.000000		0.000000		0.000000




Page 3 of 28
Morgan Stanley ABS Capital I Inc. 2005-NC2

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2005-NC2

May 25, 2005 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-1ss	273,920,000.00		646,785.08		3,121,540.62		113,307.31		3,234,847.93		3,881,633.01		0.00		0.00		270,685,152.07
A-1mz	68,481,000.00		163,924.26		780,396.55		28,327.24		808,723.79		972,648.05		0.00		0.00		67,672,276.21
A-2ss	235,870,000.00		556,940.70		3,783,740.56		137,344.19		3,921,084.75		4,478,025.45		0.00		0.00		231,948,915.25
A-2mz	58,968,000.00		141,152.82		945,943.16		34,336.34		980,279.50		1,121,432.32		0.00		0.00		57,987,720.50
A-3a	315,000,000.00		715,346.45		18,492,122.35		671,236.71		19,163,359.07		19,878,705.52		0.00		0.00		295,836,640.93
A-3b	109,586,000.00		256,777.90		0.00		0.00		0.00		256,777.90		0.00		0.00		109,586,000.00
A-3c	92,500,000.00		226,095.39		0.00		74,581.86		0.00		226,095.39		0.00		0.00		92,500,000.00
A-3mz	57,454,000.00		137,943.67		2,054,680.26		0.00		2,129,262.12		2,267,205.79		0.00		0.00		55,324,737.88
M-1	48,771,000.00		121,675.35		0.00		0.00		0.00		121,675.35		0.00		0.00		48,771,000.00
M-2	44,269,000.00		111,402.79		0.00		0.00		0.00		111,402.79		0.00		0.00		44,269,000.00
M-3	24,761,000.00		62,847.46		0.00		0.00		0.00		62,847.46		0.00		0.00		24,761,000.00
M-4	27,012,000.00		71,682.25		0.00		0.00		0.00		71,682.25		0.00		0.00		27,012,000.00
M-5	23,260,000.00		62,229.47		0.00		0.00		0.00		62,229.47		0.00		0.00		23,260,000.00
M-6	22,510,000.00		61,035.79		0.00		0.00		0.00		61,035.79		0.00		0.00		22,510,000.00
B-1	18,758,000.00		57,365.03		0.00		0.00		0.00		57,365.03		0.00		0.00		18,758,000.00
B-2	17,258,000.00		54,398.12		0.00		0.00		0.00		54,398.12		0.00		0.00		17,258,000.00
B-3	16,507,000.00		57,395.70		0.00		0.00		0.00		57,395.70		0.00		0.00		16,507,000.00
X	45,770,452.00		4,718,440.74		444.58		16.14		460.71		4,718,901.45		0.00		0.00		45,769,991.29
P	0.00		251,547.64		0.00		0.00		0.00		251,547.64		0.00		0.00		0.00
R	0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00


Total	1,500,655,452.00		8,474,986.61		29,178,868.08		1,059,149.79		30,238,017.87		38,713,004.48		0.00		0.00		1,470,417,434.13



Page 4 of 28
Morgan Stanley ABS Capital I Inc. 2005-NC2

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2005-NC2

May 25, 2005 Distribution

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-1ss	3.26938%		273,920,000.00		646,785.08		0.00		0.00		0.00		646,785.08		646,785.08		0.00
A-1mz	3.31438%		68,481,000.00		163,924.26		0.00		0.00		0.00		163,924.26		163,924.26		0.00
A-2ss	3.26938%		235,870,000.00		556,940.70		0.00		0.00		0.00		556,940.70		556,940.70		0.00
A-2mz	3.31438%		58,968,000.00		141,152.82		0.00		0.00		0.00		141,152.82		141,152.82		0.00
A-3a	3.14438%		315,000,000.00		715,346.45		0.00		0.00		0.00		715,346.45		715,346.45		0.00
A-3b	3.24438%		109,586,000.00		256,777.90		0.00		0.00		0.00		256,777.90		256,777.90		0.00
A-3c	3.38438%		92,500,000.00		226,095.39		0.00		0.00		0.00		226,095.39		226,095.39		0.00
A-3mz	3.32438%		57,454,000.00		137,943.67		0.00		0.00		0.00		137,943.67		137,943.67		0.00
M-1	3.45438%		48,771,000.00		121,675.35		0.00		0.00		0.00		121,675.35		121,675.35		0.00
M-2	3.48438%		44,269,000.00		111,402.79		0.00		0.00		0.00		111,402.79		111,402.79		0.00
M-3	3.51438%		24,761,000.00		62,847.46		0.00		0.00		0.00		62,847.46		62,847.46		0.00
M-4	3.67438%		27,012,000.00		71,682.25		0.00		0.00		0.00		71,682.25		71,682.25		0.00
M-5	3.70438%		23,260,000.00		62,229.47		0.00		0.00		0.00		62,229.47		62,229.47		0.00
M-6	3.75438%		22,510,000.00		61,035.79		0.00		0.00		0.00		61,035.79		61,035.79		0.00
B-1	4.23438%		18,758,000.00		57,365.03		0.00		0.00		0.00		57,365.03		57,365.03		0.00
B-2	4.36438%		17,258,000.00		54,398.12		0.00		0.00		0.00		54,398.12		54,398.12		0.00
B-3	4.81438%		16,507,000.00		57,395.70		0.00		0.00		0.00		57,395.70		57,395.70		0.00
X	142.73894%		45,770,452.00		0.00		0.00		0.00		0.00		0.00		4,718,440.74		0.00
P	0.00000%		0.00		0.00		0.00		0.00		0.00		0.00		251,547.64		0.00
R	0.00000%		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00


Total			1,500,655,452.00		3,504,998.23		0.00		0.00		0.00		3,504,998.23		8,474,986.61		0.00



Page 5 of 28
Morgan Stanley ABS Capital I Inc. 2005-NC2

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2005-NC2

May 25, 2005 Distribution
Collection Account Report
SUMMARY
SUMMARY
								Group 3		Group 2		Group 1		Total
Principal Collections								9,002,381.30		4,901,188.06		4,043,430.55		17,946,999.91
Principal Withrawals								0.00		0.00		0.00		0.00
Principal Other Accounts								12,290,564.31		250.87		202.78		12,291,017.96
TOTAL NET PRINCIPAL								21,292,945.61		4,901,438.93		4,043,633.33		30,238,017.87
Interest Collections								#######		2,046,022.04		2,340,959.94		8,238,316.40
Interest Withdrawals								-0.00		-0.00		-0.00		-0.00
Interest Other Accounts								107,187.49		82,216.31		62,143.84		251,547.64
Interest Fees								-8,022.51		-3,929.09		-2,925.83		-14,877.43
TOTAL NET INTEREST								3,950,499.39		2,124,309.26		2,400,177.95		8,474,986.61
TOTAL AVAILABLE FUNDS FOR DISTRIBUTION								25,243,445.00		7,025,748.19		6,443,811.28		38,713,004.48



PRINCIPAL - COLLECTIONS
PRINCIPAL - COLLECTIONS
									Group 3		Group 2		Group 1		Total
Scheduled Principal Received									485,660.43		284,540.60		288,948.76		1,059,149.79
Prepayments In Full									8,485,987.47		4,602,823.62		3,737,846.25		16,826,657.34
Curtailments									30,733.40		13,823.84		16,635.54		61,192.78
Liquidations									0.00		0.00		0.00		0.00
Insurance Principal									0.00		0.00		0.00		0.00
Repurchased Principal Amounts									0.00		0.00		0.00		0.00
Other Principal									0.00		0.00		0.00		0.00
Total Realized Loss Of Principal									-0.00		-0.00		-0.00		-0.00
Delinquent Principal									-481,720.16		-282,815.78		-288,488.42		-1,053,024.36
Advanced Principal									481,720.16		282,815.78		288,488.42		1,053,024.36
TOTAL PRINCIPAL COLLECTED									9,002,381.30		4,901,188.06		4,043,430.55		17,946,999.91


PRINCIPAL - WITHDRAWALS

SPACE INTENTIONALLY LEFT BLANK



PRINCIPAL - OTHER ACCOUNTS
PRINCIPAL - OTHER ACCOUNTS
								Group 3		Group 2		Group 1		Total
Closing Deposit								12,290,564.31		250.87		202.78		12,291,017.96
TOTAL OTHER ACCOUNTS PRINCIPAL								12,290,564.31		250.87		202.78		12,291,017.96





Page 6 of 28
Morgan Stanley ABS Capital I Inc. 2005-NC2

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2005-NC2

May 25, 2005 Distribution

INTEREST - COLLECTIONS
INTEREST - COLLECTIONS
								Group 3		Group 2		Group 1		Total
Scheduled Interest								4,136,430.04		2,195,140.78		2,515,771.64		8,847,342.46
Liquidation Interest								0.00		0.00		0.00		0.00
Repurchased Interest								0.00		0.00		0.00		0.00
Insurance Interest								0.00		0.00		0.00		0.00
Other Interest								0.00		0.00		0.00		0.00
Relief Act Interest Shortfalls								-0.00		-0.00		-0.00		-0.00
Prepayment Interest Shortfalls								-15,378.84		-8,852.67		-7,942.59		-32,174.10
Compensating Interest								15,378.84		8,852.67		7,942.59		32,174.09
Delinquent Interest								-4,044,765.65		-2,147,115.16		-2,487,235.34		-8,679,116.15
Interest Advanced								3,759,670.03		1,997,996.41		2,312,423.64		8,070,090.08
TOTAL INTEREST COLLECTED								3,851,334.41		2,046,022.04		2,340,959.94		8,238,316.40


INTEREST - WITHDRAWALS
INTEREST - WITHDRAWALS
								Group 3		Group 2		Group 1		Total
Nonrecoverable Advances
TOTAL INTEREST WITHDRAWALS								0.00		0.00		0.00		0.00



INTEREST - OTHER ACCOUNTS
INTEREST - OTHER ACCOUNTS
								Group 3		Group 2		Group 1		Total
Prepayment Charges								107,187.49		82,216.31		62,143.84		251,547.64
TOTAL INTEREST OTHER ACCOUNTS								107,187.49		82,216.31		62,143.84		251,547.64



INTEREST - FEES
INTEREST - FEES
								Group 3		Group 2		Group 1		Total
Current Servicing Fees								6,243.75		3,016.27		1,865.76		11,125.79
Current Trustee Fees								1,778.76		912.81		1,060.07		3,751.64
TOTAL INTEREST OTHER FEES								8,022.51		3,929.09		2,925.83		14,877.43




Page 7 of 28
Morgan Stanley ABS Capital I Inc. 2005-NC2

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2005-NC2

May 25, 2005 Distribution
Credit Enhancement Report
ACCOUNTS
ACCOUNTS
								Group 3		Group 2		Group 1		Total
Excess Reserve Fund Account Balance														0.00



INSURANCE

SPACE INTENTIONALLY LEFT BLANK



STRUCTURAL FEATURES
STRUCTURAL FEATURES
								Group 3		Group 2		Group 1		Total
Specified Subordinated Target Amount														45,769,991.29
Subordinated Amount														45,769,991.29
Subordinated Deficiency Amount														0.00
Subordinated Release Amount														460.71




Page 8 of 28
Morgan Stanley ABS Capital I Inc. 2005-NC2

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2005-NC2

May 25, 2005 Distribution
Collateral Report


COLLATERAL



									Group 3		Group 2		Group 1		Total



Loan Count:


Original								3,255		2,073		2,542		7,870
Prior								3,255		2,073		2,542		7,870
Prefunding								0		0		0		0
Scheduled Paid Offs								-0		-0		-0		-0
Full Voluntary Prepayments								-31		-22		-14		-67
Repurchases								-0		-0		-0		-0
Liquidations								-0		-0		-0		-0
Current								3,224		2,051		2,528		7,803
Principal Balance:


Original								699,214,488.70		365,124,050.84		424,025,894.50		1,488,364,434.04
Prior								699,214,488.70		365,124,050.84		424,025,894.50		1,488,364,434.04
Prefunding								0.00		0.00		0.00		1,500,655,452.00
Scheduled Principal								-485,660.43		-284,540.60		-288,948.76		-1,059,149.79
Partial Prepayments								-30,733.40		-13,823.84		-16,635.54		-61,192.78
Full Voluntary Prepayments								-8,485,987.47		-4,602,823.62		-3,737,846.25		-16,826,657.34
Repurchases								-0.00		-0.00		-0.00		-0.00
Liquidations								-0.00		-0.00		-0.00		-0.00
Current								690,212,107.40		360,222,862.78		419,982,463.95		1,470,417,434.13





PREFUNDING
PREFUNDING
								Group 3		Group 2		Group 1		Total
closing Date Deposit Amount								12,290,564.31		250.87		202.78		12,291,017.96
Total Original Principal Balance								0.00		0.00		0.00		1,500,655,452.00






Page 9 of 28
Morgan Stanley ABS Capital I Inc. 2005-NC2

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2005-NC2

May 25, 2005 Distribution

CHARACTERISTICS
CHARACTERISTICS
								Group 3		Group 2		Group 1		Total
Weighted Average Coupon Original								7.09899%		7.21445%		7.11963%		7.13319%
Weighted Average Coupon Prior								7.09899%		7.21445%		7.11963%		7.13319%
Weighted Average Coupon Current								7.09899%		7.21445%		7.11963%		7.13319%
Weighted Average Months to Maturity Original								352		352		350		351
Weighted Average Months to Maturity Prior								352		352		350		351
Weighted Average Months to Maturity Current								352		352		350		351
Weighted Avg Remaining Amortization Term Original								352		352		350		351
Weighted Avg Remaining Amortization Term Prior								352		352		350		351
Weighted Avg Remaining Amortization Term Current								352		352		350		351
Weighted Average Seasoning Original								4.14		4.04		4.31		4.16
Weighted Average Seasoning Prior								4.14		4.04		4.31		4.16
Weighted Average Seasoning Current								4.14		4.04		4.31		4.16









Page 10 of 28
Morgan Stanley ABS Capital I Inc. 2005-NC2

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2005-NC2

May 25, 2005 Distribution

ARM CHARACTERISTICS
ARM CHARACTERISTICS
								Group 3		Group 2		Group 1		Total
Weighted Average Margin Original								5.64682%		5.65354%		5.62654%		5.64272%
Weighted Average Margin Prior								5.64682%		5.65354%		5.62654%		5.64272%
Weighted Average Margin Current								5.64682%		5.65354%		5.62654%		5.64272%
Weighted Average Max Rate Original								14.11075%		14.20442%		14.04261%		14.11394%
Weighted Average Max Rate Prior								14.11075%		14.20442%		14.04261%		14.11394%
Weighted Average Max Rate Current								14.11075%		14.20442%		14.04261%		14.11394%
Weighted Average Min Rate Original								7.11363%		7.20898%		7.04606%		7.11737%
Weighted Average Min Rate Prior								7.11363%		7.20898%		7.04606%		7.11737%
Weighted Average Min Rate Current								7.11363%		7.20898%		7.04606%		7.11737%
Weighted Average Cap Up Original								1.50000%		1.49772%		1.50163%		1.49992%
Weighted Average Cap Up Prior								1.50000%		1.49772%		1.50163%		1.49992%
Weighted Average Cap Up Current								1.50000%		1.49772%		1.50163%		1.49992%
Weighted Average Cap Down Original								1.50000%		1.49772%		1.50163%		1.49992%
Weighted Average Cap Down Prior								1.50000%		1.49772%		1.50163%		1.49992%
Weighted Average Cap Down Current								1.50000%		1.49772%		1.50163%		1.49992%




SERVICING FEES & ADVANCES

									Group 3		Group 2		Group 1		Total




Current Servicing Fees								6,243.75		3,016.27		1,865.76		11,125.79
Delinquent Servicing Fees								285,095.62		149,118.74		174,811.69		609,026.05
TOTAL SERVICING FEES								291,339.37		152,135.03		176,677.46		620,151.86


Compensating Interest								-15,378.84		-8,852.67		-7,942.59		-32,174.09
Delinquent Servicing Fees								-285,095.62		-149,118.74		-174,811.69		-609,026.05
COLLECTED SERVICING FEES								(9,135.09)		(5,836.39)		(6,076.82)		(21,048.29)


Aggregate Advances with respect to this Distribution								4,241,390.19		2,280,812.19		2,600,912.06		9,123,114.45





ADDITIONAL COLLATERAL INFORMATION
								Group 3		Group 2		Group 1		Total
Net Prepayment Interest Shortfall								0.00		0.00		0.00		0.00
Libor For Current Period														3.064380%
Libor For Next Period														3.090000%




Page 11 of 28
Morgan Stanley ABS Capital I Inc. 2005-NC2

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2005-NC2

May 25, 2005 Distribution
Delinquency Report

	TOTAL
					< 1 PAYMENT		1 PAYMENT		2 PAYMENTS		3+ PAYMENTS		TOTAL
	DELINQUENT		Balance				0.00		0.00		0.00		0.00
			% Balance				0.00%		0.00%		0.00%		0.00%
			# Loans				0		0		0		0
			% # Loans				0.00%		0.00%		0.00%		0.00%
	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		56,404.30		0.00		0.00		0.00		56,404.30
			% Balance		0.00%		0.00%		0.00%		0.00%		0.00%
			# Loans		1		0		0		0		1
			% # Loans		0.01%		0.00%		0.00%		0.00%		0.01%
	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		56,404.30		0.00		0.00		0.00		56,404.30
			% Balance		0.00%		0.00%		0.00%		0.00%		0.00%
			# Loans		1		0		0		0		1
			% # Loans		0.01%		0.00%		0.00%		0.00%		0.01%









Page 12 of 28
Morgan Stanley ABS Capital I Inc. 2005-NC2

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2005-NC2

May 25, 2005 Distribution


	GROUP 1
					< 1 PAYMENT		1 PAYMENT		2 PAYMENTS		3+ PAYMENTS		TOTAL
	DELINQUENT		Balance				0.00		0.00		0.00		0.00
			% Balance				0.00%		0.00%		0.00%		0.00%
			# Loans				0		0		0		0
			% # Loans				0.00%		0.00%		0.00%		0.00%
	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		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%










Page 13 of 28
Morgan Stanley ABS Capital I Inc. 2005-NC2

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2005-NC2

May 25, 2005 Distribution

	GROUP 2
					< 1 PAYMENT		1 PAYMENT		2 PAYMENTS		3+ PAYMENTS		TOTAL
	DELINQUENT		Balance				0.00		0.00		0.00		0.00
			% Balance				0.00%		0.00%		0.00%		0.00%
			# Loans				0		0		0		0
			% # Loans				0.00%		0.00%		0.00%		0.00%
	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		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%










Page 14 of 28
Morgan Stanley ABS Capital I Inc. 2005-NC2

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2005-NC2

May 25, 2005 Distribution

	GROUP 3
					< 1 PAYMENT		1 PAYMENT		2 PAYMENTS		3+ PAYMENTS		TOTAL
	DELINQUENT		Balance				0.00		0.00		0.00		0.00
			% Balance				0.00%		0.00%		0.00%		0.00%
			# Loans				0		0		0		0
			% # Loans				0.00%		0.00%		0.00%		0.00%
	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		56,404.30		0.00		0.00		0.00		56,404.30
			% Balance		0.01%		0.00%		0.00%		0.00%		0.01%
			# Loans		1		0		0		0		1
			% # Loans		0.03%		0.00%		0.00%		0.00%		0.03%
	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		56,404.30		0.00		0.00		0.00		56,404.30
			% Balance		0.01%		0.00%		0.00%		0.00%		0.01%
			# Loans		1		0		0		0		1
			% # Loans		0.03%		0.00%		0.00%		0.00%		0.03%









Page 15 of 28
Morgan Stanley ABS Capital I Inc. 2005-NC2

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2005-NC2

May 25, 2005 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




TOTAL



Page 16 of 28
Morgan Stanley ABS Capital I Inc. 2005-NC2

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2005-NC2

May 25, 2005 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 17 of 28
Morgan Stanley ABS Capital I Inc. 2005-NC2

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2005-NC2

May 25, 2005 Distribution
Prepayment Report

VOLUNTARY PREPAYMENTS
VOLUNTARY PREPAYMENTS

									Group 3		Group 2		Group 1		Total




Current


Number of Paid in Full Loans								31		22		14		67
Number of Repurchased Loans								0		0		0		0
Total Number of Loans Prepaid in Full								31		22		14		67
Curtailments Amount								30,733.40		13,823.84		16,635.54		61,192.78
Paid in Full Balance								8,485,987.47		4,602,823.62		3,737,846.25		16,826,657.34
Repurchased Loans Balance								0.00		0.00		0.00		0.00
Total Prepayment Amount								8,516,720.87		4,616,647.46		3,754,481.79		16,887,850.12

Cumulative


Number of Paid in Full Loans								31		22		14		67
Number of Repurchased Loans								0		0		0		0
Total Number of Loans Prepaid in Full								31		22		14		67
Paid in Full Balance								8,485,987.47		4,602,823.62		3,737,846.25		16,826,657.34
Repurchased Loans Balance								0.00		0.00		0.00		0.00
Curtailments Amount								30,733.40		13,823.84		16,635.54		61,192.78
Total Prepayment Amount								8,516,720.87		4,616,647.46		3,754,481.79		16,887,850.12










Page 18 of 28
Morgan Stanley ABS Capital I Inc. 2005-NC2

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2005-NC2

May 25, 2005 Distribution

VOLUNTARY PREPAYMENTS RATES
VOLUNTARY PREPAYMENTS RATES

									Group 3		Group 2		Group 1		Total



SMM								1.22%		1.27%		0.89%		1.14%
3 Months Avg SMM								1.22%		1.27%		0.89%		1.14%
12 Months Avg SMM								1.22%		1.27%		0.89%		1.14%
Avg SMM Since Cut-off								1.22%		1.27%		0.89%		1.14%


CPR								13.68%		14.17%		10.13%		12.81%
3 Months Avg CPR								13.68%		14.17%		10.13%		12.81%
12 Months Avg CPR								13.68%		14.17%		10.13%		12.81%
Avg CPR Since Cut-off								13.68%		14.17%		10.13%		12.81%


PSA								1,653.56%		1,754.02%		1,174.64%		1,537.89%
3 Months Avg PSA Approximation								1,653.56%		1,754.02%		1,174.64%		1,537.90%
12 Months Avg PSA Approximation								1,653.56%		1,754.02%		1,174.64%		1,537.90%
Avg PSA Since Cut-off Approximation								1,653.56%		1,754.02%		1,174.64%		1,537.90%










Page 19 of 28
Morgan Stanley ABS Capital I Inc. 2005-NC2

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2005-NC2

May 25, 2005 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/(0.002min(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) Conditional Prepayment Rate (CPR): 1-((1-SMM)^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) Dates correspond to distribution dates. Note: Prepayment rates are calculated since deal issue date and include partial and full voluntary prepayments, liquidations, and repurchases.













Page 20 of 28
Morgan Stanley ABS Capital I Inc. 2005-NC2

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2005-NC2

May 25, 2005 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

1841337 3			90,600.00		90,371.96			06-May-2005		10.350%		CA - 20.00%		Paid Off - 360		01-Nov-2004
			90,600.00

1866973 2			50,000.00		48,747.67			02-May-2005		11.450%		IL - 19.46%		Paid Off - 180		01-Nov-2004
1866973 2					48,747.67			02-May-2005		11.450%		IL - 19.46%		Paid Off - 180		01-Nov-2004
1890627 3			440,000.00		438,157.54			06-Apr-2005		6.950%		NY - 61.11%		Paid Off - 360		01-Dec-2004
1890627 3					438,157.54			06-Apr-2005		6.950%		NY - 61.11%		Paid Off - 360		01-Dec-2004
1890742 3			50,000.00		49,709.76			20-Apr-2005		8.225%		MO - 63.69%		Paid Off - 360		01-Dec-2004
1890742 3					49,709.76			20-Apr-2005		8.225%		MO - 63.69%		Paid Off - 360		01-Dec-2004
1916394 1			351,000.00		349,365.00			28-Apr-2005		6.400%		CA - 86.67%		Paid Off - 360		01-Dec-2004
1916394 1					349,365.00			28-Apr-2005		6.400%		CA - 86.67%		Paid Off - 360		01-Dec-2004
1925341 3			522,000.00		520,864.37			27-Apr-2005		7.650%		MA - 90.00%		Paid Off - 360		01-Feb-2005
1925341 3					520,864.37			27-Apr-2005		7.650%		MA - 90.00%		Paid Off - 360		01-Feb-2005
1933214 1			54,000.00		53,871.74			11-Apr-2005		8.650%		MI - 90.00%		Paid Off - 360		01-Jan-2005
1933214 1					53,871.74			11-Apr-2005		8.650%		MI - 90.00%		Paid Off - 360		01-Jan-2005
1940158 3			329,000.00		328,184.63			29-Apr-2005		6.990%		IL - 79.66%		Paid Off - 360		01-Feb-2005
1940158 3					328,184.63			29-Apr-2005		6.990%		IL - 79.66%		Paid Off - 360		01-Feb-2005
1940492 3			460,000.00		460,000.00			28-Apr-2005		7.350%		CA - 80.00%		Paid Off - 360		01-Feb-2005
1940492 3					460,000.00			28-Apr-2005		7.350%		CA - 80.00%		Paid Off - 360		01-Feb-2005
1948255 3			467,500.00		465,322.31			22-Apr-2005		6.400%		CA - 85.00%		Paid Off - 360		01-Dec-2004
1948255 3					465,322.31			22-Apr-2005		6.400%		CA - 85.00%		Paid Off - 360		01-Dec-2004
1953701 3			434,392.01		434,392.01			27-Apr-2005		6.750%		NV - 80.00%		Paid Off - 360		01-Jan-2005
1953701 3					434,392.01			27-Apr-2005		6.750%		NV - 80.00%		Paid Off - 360		01-Jan-2005
1961881 3			120,000.00		119,703.17			26-Apr-2005		7.000%		PA - 86.96%		Paid Off - 360		01-Feb-2005
1961881 3					119,703.17			26-Apr-2005		7.000%		PA - 86.96%		Paid Off - 360		01-Feb-2005
1968073 1			285,000.00		284,219.60			20-Apr-2005		7.950%		CA - 75.00%		Paid Off - 360		01-Jan-2005
1968073 1					284,219.60			20-Apr-2005		7.950%		CA - 75.00%		Paid Off - 360		01-Jan-2005
1969320 3			200,080.00		200,080.00			28-Apr-2005		7.050%		NV - 80.00%		Paid Off - 360		01-Feb-2005
1969320 3					200,080.00			28-Apr-2005		7.050%		NV - 80.00%		Paid Off - 360		01-Feb-2005
1973887 3			665,000.00		664,858.57			13-Apr-2005		5.990%		CA - 70.00%		Paid Off - 360		01-Feb-2005
1973887 3					664,858.57			13-Apr-2005		5.990%		CA - 70.00%		Paid Off - 360		01-Feb-2005
1978078 3			205,360.00		204,876.49			14-Apr-2005		7.250%		CA - 80.00%		Paid Off - 360		01-Feb-2005
1978078 3					204,876.49			14-Apr-2005		7.250%		CA - 80.00%		Paid Off - 360		01-Feb-2005
1981524 1			256,000.00		255,568.47			29-Apr-2005		8.900%		CA - 78.77%		Paid Off - 360		01-Feb-2005
1981524 1					255,568.47			29-Apr-2005		8.900%		CA - 78.77%		Paid Off - 360		01-Feb-2005
1986843 3			100,000.00		99,757.45			27-Apr-2005		7.100%		PA - 55.25%		Paid Off - 360		01-Feb-2005
1986843 3					99,757.45			27-Apr-2005		7.100%		PA - 55.25%		Paid Off - 360		01-Feb-2005
1989136 3			256,000.00		255,448.95			27-Apr-2005		7.700%		NY - 80.00%		Paid Off - 360		01-Feb-2005
1989136 3					255,448.95			27-Apr-2005		7.700%		NY - 80.00%		Paid Off - 360		01-Feb-2005
1989282 3			157,500.00		156,981.45			29-Apr-2005		7.300%		NJ - 79.95%		Paid Off - 360		01-Feb-2005
1989282 3					156,981.45			29-Apr-2005		7.300%		NJ - 79.95%		Paid Off - 360		01-Feb-2005
1998158 2			207,000.00		206,457.04			15-Apr-2005		6.700%		CA - 90.00%		Paid Off - 360		01-Feb-2005
1998158 2					206,457.04			15-Apr-2005		6.700%		CA - 90.00%		Paid Off - 360		01-Feb-2005
2003982 2			280,000.00		279,327.59			12-Apr-2005		7.150%		CA - 70.00%		Paid Off - 360		01-Feb-2005
2003982 2					279,327.59			12-Apr-2005		7.150%		CA - 70.00%		Paid Off - 360		01-Feb-2005
1000127311 3			320,391.00		320,391.00			21-Apr-2005		5.900%		CA - 80.00%		Paid Off - 360		01-Feb-2005
1000127311 3					320,391.00			21-Apr-2005		5.900%		CA - 80.00%		Paid Off - 360		01-Feb-2005
1000137569 1			412,000.00		410,741.11			12-Apr-2005		7.550%		NY - 77.74%		Paid Off - 360		01-Jan-2005
1000137569 1					410,741.11			12-Apr-2005		7.550%		NY - 77.74%		Paid Off - 360		01-Jan-2005
1000168865 1			260,000.00		259,625.28			26-Apr-2005		9.650%		GA - 80.00%		Paid Off - 360		01-Feb-2005
1000168865 1					259,625.28			26-Apr-2005		9.650%		GA - 80.00%		Paid Off - 360		01-Feb-2005
1000179988 3			70,000.00		69,896.81			14-Apr-2005		7.550%		FL - 84.85%		Paid Off - 360		01-Mar-2005
1000179988 3					69,896.81			14-Apr-2005		7.550%		FL - 84.85%		Paid Off - 360		01-Mar-2005
1000219793 2			235,000.00		234,635.51			21-Apr-2005		9.300%		CA - 100.00%		Paid Off - 360		01-Feb-2005
1000219793 2					234,635.51			21-Apr-2005		9.300%		CA - 100.00%		Paid Off - 360		01-Feb-2005
1000249083 3			131,175.00		130,700.12			11-Apr-2005		9.300%		WV - 75.00%		Paid Off - 360		01-Jan-2005
1000249083 3					130,700.12			11-Apr-2005		9.300%		WV - 75.00%		Paid Off - 360		01-Jan-2005
1000282919 3			488,784.00		488,783.98			22-Apr-2005		6.950%		CA - 80.00%		Paid Off - 360		01-Feb-2005
1000282919 3					488,783.98			22-Apr-2005		6.950%		CA - 80.00%		Paid Off - 360		01-Feb-2005
1000283277 1			110,400.00		110,152.64			18-Apr-2005		7.500%		DC - 80.00%		Paid Off - 360		01-Feb-2005
1000283277 1					110,152.64			18-Apr-2005		7.500%		DC - 80.00%		Paid Off - 360		01-Feb-2005
1000294327 2			224,000.00		223,326.38			29-Apr-2005		5.990%		CA - 70.66%		Paid Off - 360		01-Feb-2005
1000294327 2					223,326.38			29-Apr-2005		5.990%		CA - 70.66%		Paid Off - 360		01-Feb-2005
1000305556 2			235,500.00		234,779.58			29-Apr-2005		5.900%		CA - 77.21%		Paid Off - 360		01-Feb-2005
1000305556 2					234,779.58			29-Apr-2005		5.900%		CA - 77.21%		Paid Off - 360		01-Feb-2005
1000327364 3			406,968.00		406,074.25			12-Apr-2005		7.600%		CA - 80.00%		Paid Off - 360		01-Feb-2005
1000327364 3					406,074.25			12-Apr-2005		7.600%		CA - 80.00%		Paid Off - 360		01-Feb-2005
1000333749 2			238,450.00		237,891.33			27-Apr-2005		7.275%		FL - 95.00%		Paid Off - 360		01-Feb-2005
1000333749 2					237,891.33			27-Apr-2005		7.275%		FL - 95.00%		Paid Off - 360		01-Feb-2005
1000339761 1			79,050.00		78,903.81			19-Apr-2005		8.450%		FL - 83.21%		Paid Off - 360		01-Feb-2005
1000339761 1					78,903.81			19-Apr-2005		8.450%		FL - 83.21%		Paid Off - 360		01-Feb-2005
1000344425 2			241,000.00		240,506.68			22-Apr-2005		7.950%		CA - 75.08%		Paid Off - 360		01-Feb-2005
1000344425 2					240,506.68			22-Apr-2005		7.950%		CA - 75.08%		Paid Off - 360		01-Feb-2005
1000350426 3			174,400.00		174,028.32			21-Apr-2005		7.750%		CO - 80.00%		Paid Off - 360		01-Feb-2005
1000350426 3					174,028.32					7.750%		CO - 80.00%		Paid Off - 360



Page 21 of 28
Morgan Stanley ABS Capital I Inc. 2005-NC2

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2005-NC2

May 25, 2005 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

1000356689 1			294,000.00		293,602.37			29-Apr-2005		9.950%		CA - 70.00%		Paid Off - 360		01-Feb-2005
			294,000.00

1000357820 1			274,500.00		273,938.09			18-Apr-2005		7.950%		CA - 90.00%		Paid Off - 360		01-Feb-2005
1000357820 1					273,938.09			18-Apr-2005		7.950%		CA - 90.00%		Paid Off - 360		01-Feb-2005
1000370137 3			98,000.00		97,812.17			14-Apr-2005		8.275%		VA - 79.03%		Paid Off - 360		01-Feb-2005
1000370137 3					97,812.17			14-Apr-2005		8.275%		VA - 79.03%		Paid Off - 360		01-Feb-2005
1000374419 3			109,800.00		109,551.52			12-Apr-2005		7.450%		OH - 90.00%		Paid Off - 360		01-Feb-2005
1000374419 3					109,551.52			12-Apr-2005		7.450%		OH - 90.00%		Paid Off - 360		01-Feb-2005
1000382008 1			310,500.00		309,919.93			19-Apr-2005		8.400%		HI - 90.00%		Paid Off - 360		01-Feb-2005
1000382008 1					309,919.93			19-Apr-2005		8.400%		HI - 90.00%		Paid Off - 360		01-Feb-2005
1000408437 2			211,500.00		211,044.73			19-Apr-2005		7.700%		FL - 90.00%		Paid Off - 360		01-Feb-2005
1000408437 2					211,044.73			19-Apr-2005		7.700%		FL - 90.00%		Paid Off - 360		01-Feb-2005
1000410460 1			266,000.00		265,999.44			27-Apr-2005		6.350%		CA - 70.00%		Paid Off - 360		01-Feb-2005
1000410460 1					265,999.44			27-Apr-2005		6.350%		CA - 70.00%		Paid Off - 360		01-Feb-2005
1000421680 2			211,650.00		211,207.93			12-Apr-2005		7.850%		MD - 85.00%		Paid Off - 360		01-Feb-2005
1000421680 2					211,207.93			12-Apr-2005		7.850%		MD - 85.00%		Paid Off - 360		01-Feb-2005
1000428932 2			182,750.00		182,330.54			21-Apr-2005		7.450%		CA - 85.40%		Paid Off - 360		01-Feb-2005
1000428932 2					182,330.54			21-Apr-2005		7.450%		CA - 85.40%		Paid Off - 360		01-Feb-2005
1000445058 1			300,000.00		300,000.00			18-Apr-2005		7.550%		CA - 66.67%		Paid Off - 360		01-Feb-2005
1000445058 1					300,000.00			18-Apr-2005		7.550%		CA - 66.67%		Paid Off - 360		01-Feb-2005
1000456134 2			128,300.00		128,018.23			27-Apr-2005		7.600%		ME - 84.97%		Paid Off - 360		01-Feb-2005
1000456134 2					128,018.23			27-Apr-2005		7.600%		ME - 84.97%		Paid Off - 360		01-Feb-2005
1000463661 2			112,000.00		111,703.33			22-Apr-2005		6.650%		IL - 80.00%		Paid Off - 360		01-Feb-2005
1000463661 2					111,703.33			22-Apr-2005		6.650%		IL - 80.00%		Paid Off - 360		01-Feb-2005
1000481393 2			418,000.00		417,546.37			20-Apr-2005		9.050%		CA - 95.00%		Paid Off - 360		01-Mar-2005
1000481393 2					417,546.37			20-Apr-2005		9.050%		CA - 95.00%		Paid Off - 360		01-Mar-2005
1000482551 3			276,000.00		275,369.21			22-Apr-2005		7.400%		NJ - 55.20%		Paid Off - 360		01-Feb-2005
1000482551 3					275,369.21			22-Apr-2005		7.400%		NJ - 55.20%		Paid Off - 360		01-Feb-2005
1000488225 2			184,000.00		183,619.51			19-Apr-2005		7.900%		WA - 80.00%		Paid Off - 360		01-Feb-2005
1000488225 2					183,619.51			19-Apr-2005		7.900%		WA - 80.00%		Paid Off - 360		01-Feb-2005
1000503066 3			175,000.00		174,709.42			27-Apr-2005		6.950%		FL - 69.44%		Paid Off - 360		01-Mar-2005
1000503066 3					174,709.42			27-Apr-2005		6.950%		FL - 69.44%		Paid Off - 360		01-Mar-2005
1000545538 3			118,000.00		117,783.12			14-Apr-2005		8.500%		NC - 43.07%		Paid Off - 360		01-Feb-2005
1000545538 3					117,783.12			14-Apr-2005		8.500%		NC - 43.07%		Paid Off - 360		01-Feb-2005
1000551566 3			375,920.00		374,844.34			18-Apr-2005		6.250%		MO - 80.00%		Paid Off - 360		01-Feb-2005
1000551566 3					374,844.34			18-Apr-2005		6.250%		MO - 80.00%		Paid Off - 360		01-Feb-2005
1000553369 2			120,000.00		119,708.97			29-Apr-2005		7.100%		WA - 80.00%		Paid Off - 360		01-Feb-2005
1000553369 2					119,708.97			29-Apr-2005		7.100%		WA - 80.00%		Paid Off - 360		01-Feb-2005
1000553458 3			148,000.00		147,651.52			27-Apr-2005		7.250%		VA - 80.00%		Paid Off - 360		01-Feb-2005
1000553458 3					147,651.52			27-Apr-2005		7.250%		VA - 80.00%		Paid Off - 360		01-Feb-2005
1000565748 2			222,480.00		222,015.30			19-Apr-2005		7.850%		TX - 80.00%		Paid Off - 360		01-Feb-2005
1000565748 2					222,015.30			19-Apr-2005		7.850%		TX - 80.00%		Paid Off - 360		01-Feb-2005
1000572491 3			374,000.00		373,336.22			29-Apr-2005		8.650%		MA - 85.00%		Paid Off - 360		01-Feb-2005
1000572491 3					373,336.22			29-Apr-2005		8.650%		MA - 85.00%		Paid Off - 360		01-Feb-2005
1000575407 2			122,000.00		121,637.29			26-Apr-2005		6.050%		CA - 72.62%		Paid Off - 360		01-Feb-2005
1000575407 2					121,637.29			26-Apr-2005		6.050%		CA - 72.62%		Paid Off - 360		01-Feb-2005
1000575522 2			310,000.00		309,217.81			22-Apr-2005		6.900%		CA - 62.75%		Paid Off - 360		01-Feb-2005
1000575522 2					309,217.81			22-Apr-2005		6.900%		CA - 62.75%		Paid Off - 360		01-Feb-2005
1000591559 3			620,000.00		620,000.00			22-Apr-2005		7.750%		NJ - 84.35%		Paid Off - 360		01-Feb-2005
1000591559 3					620,000.00			22-Apr-2005		7.750%		NJ - 84.35%		Paid Off - 360		01-Feb-2005
1000593325 2			315,000.00		314,567.20			25-Apr-2005		7.900%		NJ - 90.00%		Paid Off - 360		01-Mar-2005
1000593325 2					314,567.20			25-Apr-2005		7.900%		NJ - 90.00%		Paid Off - 360		01-Mar-2005
1000612297 3			116,565.00		116,346.81			14-Apr-2005		9.300%		WI - 95.00%		Paid Off - 360		01-Feb-2005
1000612297 3					116,346.81			14-Apr-2005		9.300%		WI - 95.00%		Paid Off - 360		01-Feb-2005
1000631926 2			166,500.00		166,207.51			20-Apr-2005		8.700%		AZ - 90.00%		Paid Off - 360		01-Feb-2005
1000631926 2					166,207.51			20-Apr-2005		8.700%		AZ - 90.00%		Paid Off - 360		01-Feb-2005
1000636119 1			493,000.00		491,938.77			13-Apr-2005		7.700%		HI - 82.72%		Paid Off - 360		01-Feb-2005
1000636119 1					491,938.77			13-Apr-2005		7.700%		HI - 82.72%		Paid Off - 360		01-Feb-2005
1000647250 2			198,600.00		198,327.12			19-Apr-2005		7.900%		AZ - 79.99%		Paid Off - 360		01-Mar-2005
1000647250 2					198,327.12			19-Apr-2005		7.900%		AZ - 79.99%		Paid Off - 360		01-Mar-2005


TOTAL			16,859,615.01		16,826,657.34
TOTAL


Page 22 of 28
Morgan Stanley ABS Capital I Inc. 2005-NC2

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2005-NC2

May 25, 2005 Distribution
Realized Loss Report

COLLATERAL REALIZED LOSSES



									Group 3		Group 2		Group 1		Total


Current
Current



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

Cumulative
Cumulative



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










Page 23 of 28
Morgan Stanley ABS Capital I Inc. 2005-NC2

Mortgage Pass-Through Certificates

2005-NC2

May 25, 2005 Distribution


DEFAULT SPEEDS



									Group 3		Group 2		Group 1		Total



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


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


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


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












Page 24 of 28
Morgan Stanley ABS Capital I Inc. 2005-NC2

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2005-NC2

May 25, 2005 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 25 of 28
Morgan Stanley ABS Capital I Inc. 2005-NC2

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2005-NC2

May 25, 2005 Distribution
Realized Loss Detail Report
Loan Number			Current		State &				Prior		Realized				Cumulative
															Cumulative
&		Loan	Note		LTV at		Original		Principal		Loss/(Gain)		Realized		Realized

Loan Group		Status	Rate		Origination		Term		Balance		Revision		Loss/(Gain)		Loss/(Gain)
Loan Group		Status	Rate		Origination		Term		Balance		Revision		Loss/(Gain)		Loss/(Gain)




TOTAL



Page 26 of 28
Morgan Stanley ABS Capital I Inc. 2005-NC2

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2005-NC2

May 25, 2005 Distribution
Triggers and Adj. Cert. Report
TRIGGER EVENTS
TRIGGER EVENTS
								Group 3		Group 2		Group 1		Total
						Trigger Event in effect (0=No , 1=Yes)								0
						Stepdown Date has occurred (0 = No, 1=Yes)								0
						3M Rolling Avg.Bal 60+ days includes BK,FC,REO								0.00
						Ending Balance								1,470,417,434.13
						Prior Period Senior Enhancement Percentage								19.4090%



ADJUSTABLE RATE CERTIFICATE INFORMATION

SPACE INTENTIONALLY LEFT BLANK



ADDITIONAL INFORMATION
ADDITIONAL INFORMATION
								Group 3		Group 2		Group 1		Total
Basis Risk CarryForward Amount paid														0.00
Basis Risk CarryForward Amount unpaid														0.00




Page 27 of 28
Morgan Stanley ABS Capital I Inc. 2005-NC2

Mortgage Pass-Through Certificates
Mortgage Pass-Through Certificates
2005-NC2

May 25, 2005 Distribution
Other Related Information
ADDITIONAL INFORMATION
ADDITIONAL INFORMATION
								Group 3		Group 2		Group 1		Total
Current Scheduled Payments														9,906,492.25
Current Scheduled Payments 1 Month Prior														0.00
Current Scheduled Payments 2 Month Prior														0.00
Current Scheduled Payments 3 Month Prior														0.00
Current Scheduled Payments 4 Month Prior														0.00
Current Scheduled Payments 5 Month Prior														0.00
Current Scheduled Payments 6 Month Prior														0.00
Current Scheduled Payments 7 Month Prior														0.00
Current Scheduled Payments 8 Month Prior														0.00
Current Scheduled Payments 9 Month Prior														0.00
Current Scheduled Payments 10 Month Prior														0.00
Current Scheduled Payments 11 Month Prior														0.00





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




Page 28 of 28

Morgan Stanley ABS Capital I Inc. Trust 2005-NC2 8-K