

                                    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): June 27, 2005
                             (Date of earliest event reported)


                                MORGAN STANLEY ABS CAPITAL I INC.
              (as Depositor under the Pooling and Servicing Agreement, dated as
          February 1, 2005, providing for the issuance of Mortgage Pass-Through
                              Certificates, Series 2005-NC1)
                      (Exact name of registrant as specified in charter)


                                         DELAWARE
                     (State or Other Jurisdiction of Incorporation)

               333-113543-26                        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-NC1, which was
     made on February 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
     June 27, 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 30, 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 June 27, 2005.



Morgan Stanley ABS Capital I Inc. 2005-NC1

Mortgage Pass-Through Certificates

2005-NC1

June 27, 2005 Distribution

				External Parties						Table of Contents

													Page
				Seller
										1. Certificate Payment Report					2
				Morgan Stanley
										2. Collection Account Report					4

										3. Credit Enhancement Report					6
										4. Collateral Report					7
				Certificate Insurer(s)						5. Delinquency Report					10

										6. REO Report					13

										7. Foreclosure Report					14
										8. Prepayment Report					16
										9. Prepayment Detail Report					19

										10. Realized Loss Report					26
										11. Realized Loss Detail Report					29
				Servicer(s)
										12. Triggers and Adj. Cert. Report					30
				HomeQ Servicing Corp.
										13. Other Related Information					31
				New Century Mortgage Corporation

				Chase Home Finance LLC


				Underwriter(s)
				Morgan Stanley


										Total Number of Pages					31


				Dates						Contacts

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

										Address:
										1761 East St. Andrew Place, Santa Ana, CA 92514
				Distribution Date:			June 27, 2005
										Factor Information:			(800) 735-7777
				Record Date:			May 31, 2005
										Main Phone Number:			(714) 247-6000

							June 24, 2005


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






Page 1 of 31
Morgan Stanley ABS Capital I Inc. 2005-NC1

Mortgage Pass-Through Certificates

2005-NC1

June 27, 2005 Distribution
Certificate Payment Report
Current Period Distribution - REMIC II
					Prior												Current
	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	FLT/STEP/WA	$	427,202,000.00		387,161,441.61		1,256,338.88		22,806,518.22		24,062,857.10		0.00		0.00		364,354,923.39

A-1MZ	FLT/STEP/WA	$	58,255,000.00		52,794,906.81		163,576.22		3,109,989.47		3,273,565.69		0.00		0.00		49,684,917.34
A-2A	FLT/STEP/WA	$	366,000,000.00		305,084,814.12		894,915.45		23,385,512.15		24,280,427.60		0.00		0.00		281,699,301.97
A-2B	FLT/STEP/WA	$	170,000,000.00		170,000,000.00		514,250.00		0.00		514,250.00		0.00		0.00		170,000,000.00
A-2C	FLT/STEP/WA	$	117,449,000.00		117,449,000.00		373,585.69		0.00		373,585.69		0.00		0.00		117,449,000.00
A-2MZ	FLT/STEP/WA	$	89,107,000.00		80,800,354.08		250,346.43		3,188,944.86		3,439,291.29		0.00		0.00		77,611,409.22
M-1	FLT/STEP/WA	$	46,596,000.00		46,596,000.00		150,776.89		0.00		150,776.89		0.00		0.00		46,596,000.00
M-2	FLT/STEP/WA	$	30,813,000.00		30,813,000.00		100,553.09		0.00		100,553.09		0.00		0.00		30,813,000.00
M-3	FLT/STEP/WA	$	21,794,000.00		21,794,000.00		71,920.20		0.00		71,920.20		0.00		0.00		21,794,000.00
M-4	FLT/STEP/WA	$	34,571,000.00		34,571,000.00		119,471.61		0.00		119,471.61		0.00		0.00		34,571,000.00
M-5	FLT/STEP/WA	$	22,546,000.00		22,546,000.00		78,948.58		0.00		78,948.58		0.00		0.00		22,546,000.00
M-6	FLT/STEP/WA	$	15,783,000.00		15,783,000.00		55,845.52		0.00		55,845.52		0.00		0.00		15,783,000.00
B-1	FLT/STEP/WA	$	23,297,000.00		23,297,000.00		92,683.23		0.00		92,683.23		0.00		0.00		23,297,000.00
B-2	FLT/STEP/WA	$	12,777,000.00		12,777,000.00		51,416.78		0.00		51,416.78		0.00		0.00		12,777,000.00
B-3	FLT/STEP/WA	$	19,540,000.00		19,540,000.00		91,170.38		0.00		91,170.38		0.00		0.00		19,540,000.00
X	EXE	$	47,346,958.00		47,346,924.53		3,452,460.14		0.00		3,452,460.14		0.00		0.00		47,346,924.53
P	EXE	$	0.00		0.00		732,987.80		0.00		732,987.80		0.00		0.00		0.00
R	R	$	0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00

Total			1,503,076,958.00		1,388,354,441.15		8,451,246.89		52,490,964.70		60,942,211.59		0.00		0.00		1,335,863,476.45





Interest Accrual Detail Current Period Factor Information per $1,000 of Original Face-
									Orig. Principal		Prior							Current

	Period		Period						(with Notional)		Principal						Total	Principal

Class	Starting		Ending		Method		Cusip		Balance		Balance		Interest		Principal		Distribution	Balance

									(1)		(1)		(2)		(3)		(4)=(2)+(3)	(5)
A-1SS	05/25/05		06/26/05		A-Act/360		61744CMD5		427,202,000.00		906.272540		2.940854		53.385795		56.326649	852.886745
A-1MZ	05/25/05		06/26/05		A-Act/360		61744CME3		58,255,000.00		906.272540		2.807934		53.385795		56.193729	852.886745
A-2A	05/25/05		06/26/05		A-Act/360		61744CMF0		366,000,000.00		833.565066		2.445124		63.894842		66.339966	769.670224
A-2B	05/25/05		06/26/05		A-Act/360		61744CMG8		170,000,000.00		1,000.000000		3.025000		0.000000		3.025000	1,000.000000
A-2C	05/25/05		06/26/05		A-Act/360		61744CMH6		117,449,000.00		1,000.000000		3.180833		0.000000		3.180833	1,000.000000
A-2MZ	05/25/05		06/26/05		A-Act/360		61744CMJ2		89,107,000.00		906.778974		2.809504		35.787815		38.597319	870.991159
M-1	05/25/05		06/26/05		A-Act/360		61744CMK9		46,596,000.00		1,000.000000		3.235833		0.000000		3.235833	1,000.000000
M-2	05/25/05		06/26/05		A-Act/360		61744CML7		30,813,000.00		1,000.000000		3.263333		0.000000		3.263333	1,000.000000
M-3	05/25/05		06/26/05		A-Act/360		61744CMM5		21,794,000.00		1,000.000000		3.300000		0.000000		3.300000	1,000.000000
M-4	05/25/05		06/26/05		A-Act/360		61744CMN3		34,571,000.00		1,000.000000		3.455833		0.000000		3.455833	1,000.000000
M-5	05/25/05		06/26/05		A-Act/360		61744CMP8		22,546,000.00		1,000.000000		3.501667		0.000000		3.501667	1,000.000000
M-6	05/25/05		06/26/05		A-Act/360		61744CMQ6		15,783,000.00		1,000.000000		3.538334		0.000000		3.538334	1,000.000000
B-1	05/25/05		06/26/05		A-Act/360		61744CMR4		23,297,000.00		1,000.000000		3.978333		0.000000		3.978333	1,000.000000
B-2	05/25/05		06/26/05		A-Act/360		61744CMS2		12,777,000.00		1,000.000000		4.024167		0.000000		4.024167	1,000.000000
B-3	05/25/05		06/26/05		A-Act/360		61744CMT0		19,540,000.00		1,000.000000		4.665833		0.000000		4.665833	1,000.000000
X	05/25/05		06/26/05		A-Act/360		MS05C1101		47,346,958.00		999.999293		72.918310		0.000000		72.918310	999.999293
P	05/25/05		06/24/05		MS05C1102		0.00		0.000000		0.000000		0.000000		0.000000		0.000000
R	05/25/05		06/24/05		MS05C1103		0.00		0.000000		0.000000		0.000000		0.000000		0.000000



Page 2 of 31
Morgan Stanley ABS Capital I Inc. 2005-NC1

Mortgage Pass-Through Certificates

2005-NC1

June 27, 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	427,202,000.00		4,641,656.38		61,205,735.22		1,641,341.39		62,847,076.61		67,488,732.99		0.00		0.00		364,354,923.39
A-1MZ	58,255,000.00		602,766.89		8,346,262.68		223,819.98		8,570,082.66		9,172,849.55		0.00		0.00		49,684,917.34
A-2A	366,000,000.00		3,427,278.88		81,989,537.18		2,311,160.85		84,300,698.03		87,727,976.91		0.00		0.00		281,699,301.97
A-2B	170,000,000.00		1,797,938.89		0.00		0.00		0.00		1,797,938.89		0.00		0.00		170,000,000.00
A-2C	117,449,000.00		1,309,817.34		0.00		0.00		0.00		1,309,817.34		0.00		0.00		117,449,000.00
A-2MZ	89,107,000.00		920,497.66		11,180,431.36		315,159.42		11,495,590.78		12,416,088.44		0.00		0.00		77,611,409.22
M-1	46,596,000.00		529,123.47		0.00		0.00		0.00		529,123.47		0.00		0.00		46,596,000.00
M-2	30,813,000.00		353,031.39		0.00		0.00		0.00		353,031.39		0.00		0.00		30,813,000.00
M-3	21,794,000.00		252,653.00		0.00		0.00		0.00		252,653.00		0.00		0.00		21,794,000.00
M-4	34,571,000.00		420,690.66		0.00		0.00		0.00		420,690.66		0.00		0.00		34,571,000.00
M-5	22,546,000.00		278,180.07		0.00		0.00		0.00		278,180.07		0.00		0.00		22,546,000.00
M-6	15,783,000.00		196,875.40		0.00		0.00		0.00		196,875.40		0.00		0.00		15,783,000.00
B-1	23,297,000.00		328,500.64		0.00		0.00		0.00		328,500.64		0.00		0.00		23,297,000.00
B-2	12,777,000.00		182,327.79		0.00		0.00		0.00		182,327.79		0.00		0.00		12,777,000.00
B-3	19,540,000.00		325,189.02		0.00		0.00		0.00		325,189.02		0.00		0.00		19,540,000.00
X	47,346,958.00		16,722,948.73		31.90		1.57		33.47		16,722,982.21		0.00		0.00		47,346,924.53
P	0.00		2,251,682.32		0.00		0.00		0.00		2,251,682.32		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	1,503,076,958.00		34,541,158.53		162,721,998.34		4,491,483.21		167,213,481.55		201,754,640.09		0.00		0.00		1,335,863,476.45


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


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

Class	Rate		Balance		Interest		Interest SF		Interest		Adjustment		Interest		Interest		Interest
					(1)		(2)		(3)		(4)		(5)=(1)-(2)+(3)+(4)		(6)		(7)=(5)-(6)
A-1SS	3.54000%		387,161,441.61		1,256,338.88		0.00		0.00		0.00		1,256,338.88		1,256,338.88		0.00
A-1MZ	3.38000%		52,794,906.81		163,576.22		0.00		0.00		0.00		163,576.22		163,576.22		0.00
A-2A	3.20000%		305,084,814.12		894,915.45		0.00		0.00		0.00		894,915.45		894,915.45		0.00
A-2B	3.30000%		170,000,000.00		514,250.00		0.00		0.00		0.00		514,250.00		514,250.00		0.00
A-2C	3.47000%		117,449,000.00		373,585.69		0.00		0.00		0.00		373,585.69		373,585.69		0.00
A-2MZ	3.38000%		80,800,354.08		250,346.43		0.00		0.00		0.00		250,346.43		250,346.43		0.00
M-1	3.53000%		46,596,000.00		150,776.89		0.00		0.00		0.00		150,776.89		150,776.89		0.00
M-2	3.56000%		30,813,000.00		100,553.09		0.00		0.00		0.00		100,553.09		100,553.09		0.00
M-3	3.60000%		21,794,000.00		71,920.20		0.00		0.00		0.00		71,920.20		71,920.20		0.00
M-4	3.77000%		34,571,000.00		119,471.61		0.00		0.00		0.00		119,471.61		119,471.61		0.00
M-5	3.82000%		22,546,000.00		78,948.58		0.00		0.00		0.00		78,948.58		78,948.58		0.00
M-6	3.86000%		15,783,000.00		55,845.52		0.00		0.00		0.00		55,845.52		55,845.52		0.00
B-1	4.34000%		23,297,000.00		92,683.23		0.00		0.00		0.00		92,683.23		92,683.23		0.00
B-2	4.39000%		12,777,000.00		51,416.78		0.00		0.00		0.00		51,416.78		51,416.78		0.00
B-3	5.09000%		19,540,000.00		91,170.38		0.00		0.00		0.00		91,170.38		91,170.38		0.00
X	79.54730%		47,346,924.53		0.00		0.00		0.00		0.00		0.00		3,452,460.14		0.00
P	0.00000%		0.00		0.00		0.00		0.00		0.00		0.00		732,987.80		0.00
R	0.00000%		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00

Total			1,388,354,441.15		4,265,798.95		0.00		0.00		0.00		4,265,798.95		8,451,246.89		0.00



Page 3 of 31
Morgan Stanley ABS Capital I Inc. 2005-NC1

Mortgage Pass-Through Certificates

2005-NC1

June 27, 2005 Distribution
Collection Account Report
SUMMARY

										Group 2		Group 1		Total
Principal Collections										26,574,457.01		25,916,507.69		52,490,964.70
Principal Withrawals										0.00		0.00		0.00
Principal Other Accounts										0.00		0.00		0.00
TOTAL NET PRINCIPAL										26,574,457.01		25,916,507.69		52,490,964.70
Interest Collections										4,693,975.26		3,123,862.53		7,817,837.78
Interest Withdrawals										-0.00		-0.00		-0.00
Interest Other Accounts										0.00		0.00		732,987.80
Interest Fees										-55,866.78		-43,711.92		-99,578.70
TOTAL NET INTEREST										4,638,108.48		3,080,150.61		8,451,246.88
TOTAL AVAILABLE FUNDS FOR DISTRIBUTION										31,212,565.49		28,996,658.30		60,942,211.58



PRINCIPAL - COLLECTIONS

											Group 2		Group 1		Total
Scheduled Principal Received											641,638.15		444,123.58		1,085,761.73
Prepayments In Full											25,531,345.84		24,003,258.15		49,534,603.99
Curtailments											40,288.14		69,855.18		110,143.32
Liquidations											0.00		0.00		0.00
Insurance Principal											0.00		0.00		0.00
Repurchased Principal Amounts											361,184.88		1,399,270.78		1,760,455.66
Other Principal											0.00		0.00		0.00
Total Realized Loss Of Principal											-0.00		-0.00		-0.00
Delinquent Principal											-558,594.34		-380,365.69		-938,960.03
Advanced Principal											558,594.34		380,365.69		938,960.03
TOTAL PRINCIPAL COLLECTED											26,574,457.01		25,916,507.69		52,490,964.70


PRINCIPAL - WITHDRAWALS

SPACE INTENTIONALLY LEFT BLANK



PRINCIPAL - OTHER ACCOUNTS

										Group 2		Group 1		Total
Closing Deposit										0.00		0.00		0.00
TOTAL OTHER ACCOUNTS PRINCIPAL										0.00		0.00		0.00





Page 4 of 31
Morgan Stanley ABS Capital I Inc. 2005-NC1

Mortgage Pass-Through Certificates

2005-NC1

June 27, 2005 Distribution

INTEREST - COLLECTIONS

										Group 2		Group 1		Total
Scheduled Interest										4,987,961.97		3,302,659.07		8,290,621.04
Liquidation Interest										0.00		0.00		0.00
Repurchased Interest										2,103.90		7,486.05		9,589.95
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										-27,687.39		-19,093.50		-46,780.89
Compensating Interest										27,687.39		19,093.51		46,780.90
Delinquent Interest										-4,228,980.67		-2,706,357.46		-6,935,338.13
Interest Advanced										3,932,890.06		2,520,074.86		6,452,964.92
TOTAL INTEREST COLLECTED										4,693,975.26		3,123,862.53		7,817,837.78


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

										Group 2		Group 1		Total
Prepayment Charges														732,987.80
TOTAL INTEREST OTHER ACCOUNTS										0.00		0.00		732,987.80



INTEREST - FEES

										Group 2		Group 1		Total
Current Servicing Fees										53,767.63		42,340.18		96,107.81
Current Trustee Fees										2,099.15		1,371.74		3,470.89
TOTAL INTEREST OTHER FEES										55,866.78		43,711.92		99,578.70




Page 5 of 31
Morgan Stanley ABS Capital I Inc. 2005-NC1

Mortgage Pass-Through Certificates

2005-NC1

June 27, 2005 Distribution
Credit Enhancement Report
ACCOUNTS

SPACE INTENTIONALLY LEFT BLANK



INSURANCE

SPACE INTENTIONALLY LEFT BLANK



STRUCTURAL FEATURES

										Group 2		Group 1		Total
Overcollateralization Amount														47,346,924.53
Overcollateralization Target Amount														47,346,924.53
Overcollateralization Deficiency Amount														0.00
Overcollateralization Release Amount														0.00




Page 6 of 31
Morgan Stanley ABS Capital I Inc. 2005-NC1

Mortgage Pass-Through Certificates

2005-NC1

June 27, 2005 Distribution
Collateral Report


COLLATERAL



											Group 2		Group 1		Total



Loan Count:


Original										4,605		3,475		8,080
Prior										4,351		3,264		7,615
Prefunding										0		0		0
Scheduled Paid Offs										-0		-0		-0
Full Voluntary Prepayments										-118		-116		-234
Repurchases										-1		-5		-6
Liquidations										-0		-0		-0
Current										4,232		3,143		7,375
Principal Balance:


Original										908,881,228.02		594,195,102.67		1,503,076,330.69
Prior										839,659,765.52		548,694,675.28		1,388,354,440.80
Prefunding										0.00		0.00		0.00
Scheduled Principal										-641,638.15		-444,123.58		-1,085,761.73
Partial Prepayments										-40,288.14		-69,855.18		-110,143.32
Full Voluntary Prepayments										-25,531,345.84		-24,003,258.15		-49,534,603.99
Repurchases										-361,184.88		-1,399,270.78		-1,760,455.66
Liquidations										-0.00		-0.00		-0.00
Current										813,085,308.51		522,778,167.59		1,335,863,476.10





PREFUNDING

SPACE INTENTIONALLY LEFT BLANK






Page 7 of 31
Morgan Stanley ABS Capital I Inc. 2005-NC1

Mortgage Pass-Through Certificates

2005-NC1

June 27, 2005 Distribution

CHARACTERISTICS

										Group 2		Group 1		Total
Weighted Average Coupon Original										7.14706%		7.26679%		7.19439%
Weighted Average Coupon Prior										7.13805%		7.24570%		7.18068%
Weighted Average Coupon Current										7.13155%		7.24050%		7.17461%
Weighted Average Months to Maturity Original										350		348		349
Weighted Average Months to Maturity Prior										348		345		347
Weighted Average Months to Maturity Current										346		344		345
Weighted Avg Remaining Amortization Term Original										350		348		349
Weighted Avg Remaining Amortization Term Prior										348		345		347
Weighted Avg Remaining Amortization Term Current										346		344		345
Weighted Average Seasoning Original										4.12		4.16		4.14
Weighted Average Seasoning Prior										6.11		6.15		6.13
Weighted Average Seasoning Current										7.11		7.15		7.13









Page 8 of 31
Morgan Stanley ABS Capital I Inc. 2005-NC1

Mortgage Pass-Through Certificates

2005-NC1

June 27, 2005 Distribution

ARM CHARACTERISTICS

										Group 2		Group 1		Total
Weighted Average Margin Original										5.50782%		5.57735%		5.53501%
Weighted Average Margin Prior										5.51301%		5.57436%		5.53701%
Weighted Average Margin Current										5.51255%		5.57514%		5.53699%
Weighted Average Max Rate Original										14.21385%		14.41241%		14.29151%
Weighted Average Max Rate Prior										14.19765%		14.38977%		14.27279%
Weighted Average Max Rate Current										14.19688%		14.38319%		14.26964%
Weighted Average Min Rate Original										7.22109%		7.41792%		7.29807%
Weighted Average Min Rate Prior										7.20420%		7.39503%		7.27884%
Weighted Average Min Rate Current										7.20314%		7.38851%		7.27553%
Weighted Average Cap Up Original										1.51524%		1.50331%		1.51057%
Weighted Average Cap Up Prior										1.51252%		1.50382%		1.50911%
Weighted Average Cap Up Current										1.51197%		1.50349%		1.50866%
Weighted Average Cap Down Original										1.51524%		1.50331%		1.51057%
Weighted Average Cap Down Prior										1.51252%		1.50382%		1.50911%
Weighted Average Cap Down Current										1.51197%		1.50349%		1.50866%




SERVICING FEES & ADVANCES

											Group 2		Group 1		Total




Current Servicing Fees										53,767.63		42,340.18		96,107.81
Delinquent Servicing Fees										296,090.61		186,282.60		482,373.21
TOTAL SERVICING FEES										349,858.24		228,622.79		578,481.03


Compensating Interest										-27,687.39		-19,093.51		-46,780.90
Delinquent Servicing Fees										-296,090.61		-186,282.60		-482,373.21
COLLECTED SERVICING FEES										162,901.93		23,246.68		49,326.93


Aggregate Advances with respect to this Distribution										3,253,777.38		2,066,770.65		5,320,548.03





ADDITIONAL COLLATERAL INFORMATION
										Group 2		Group 1		Total
Net Prepayment Interest Shortfall										0.00		0.00		0.00
Libor For Current Period														3.0900%




Page 9 of 31
Morgan Stanley ABS Capital I Inc. 2005-NC1

Mortgage Pass-Through Certificates

2005-NC1

June 27, 2005 Distribution
Delinquency Report

	TOTAL
					< 1 PAYMENT		1 PAYMENT		2 PAYMENTS		3+ PAYMENTS		TOTAL
	DELINQUENT		Balance				20,747,211.49		6,444,813.95		2,415,509.49		29,607,534.93
			% Balance				1.55%		0.48%		0.18%		2.22%
			# Loans				121		37		11		169
			% # Loans				1.64%		0.50%		0.15%		2.29%
	FORECLOSURE		Balance		0.00		0.00		4,653,862.50		4,437,055.61		9,090,918.11
			% Balance		0.00%		0.00%		0.35%		0.33%		0.68%
			# Loans		0		0		26		23		49
			% # Loans		0.00%		0.00%		0.35%		0.31%		0.66%
	BANKRUPTCY		Balance		4,510,862.70		266,997.05		204,115.44		366,471.90		5,348,447.09
			% Balance		0.34%		0.02%		0.02%		0.03%		0.40%
			# Loans		26		2		3		2		33
			% # Loans		0.35%		0.03%		0.04%		0.03%		0.45%
	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		4,510,862.70		21,014,208.54		11,302,791.89		7,219,037.00		44,046,900.13
			% Balance		0.34%		1.57%		0.85%		0.54%		3.30%
			# Loans		26		123		66		36		251
			% # Loans		0.35%		1.67%		0.89%		0.49%		3.40%









Page 10 of 31
Morgan Stanley ABS Capital I Inc. 2005-NC1

Mortgage Pass-Through Certificates

2005-NC1

June 27, 2005 Distribution


	GROUP 1
					< 1 PAYMENT		1 PAYMENT		2 PAYMENTS		3+ PAYMENTS		TOTAL
	DELINQUENT		Balance				7,213,707.87		2,096,416.33		928,677.28		10,238,801.48
			% Balance				1.38%		0.40%		0.18%		1.96%
			# Loans				50		15		4		69
			% # Loans				1.59%		0.48%		0.13%		2.20%
	FORECLOSURE		Balance		0.00		0.00		1,726,225.09		1,864,795.46		3,591,020.55
			% Balance		0.00%		0.00%		0.33%		0.36%		0.69%
			# Loans		0		0		10		11		21
			% # Loans		0.00%		0.00%		0.32%		0.35%		0.67%
	BANKRUPTCY		Balance		1,556,585.73		82,459.14		0.00		71,629.56		1,710,674.43
			% Balance		0.30%		0.02%		0.00%		0.01%		0.33%
			# Loans		10		1		0		1		12
			% # Loans		0.32%		0.03%		0.00%		0.03%		0.38%
	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		1,556,585.73		7,296,167.01		3,822,641.42		2,865,102.30		15,540,496.46
			% Balance		0.30%		1.40%		0.73%		0.55%		2.97%
			# Loans		10		51		25		16		102
			% # Loans		0.32%		1.62%		0.80%		0.51%		3.25%










Page 11 of 31
Morgan Stanley ABS Capital I Inc. 2005-NC1

Mortgage Pass-Through Certificates

2005-NC1

June 27, 2005 Distribution

	GROUP 2
					< 1 PAYMENT		1 PAYMENT		2 PAYMENTS		3+ PAYMENTS		TOTAL
	DELINQUENT		Balance				13,533,503.62		4,348,397.62		1,486,832.21		19,368,733.45
			% Balance				1.66%		0.53%		0.18%		2.38%
			# Loans				71		22		7		100
			% # Loans				1.68%		0.52%		0.17%		2.36%
	FORECLOSURE		Balance		0.00		0.00		2,927,637.41		2,572,260.15		5,499,897.56
			% Balance		0.00%		0.00%		0.36%		0.32%		0.68%
			# Loans		0		0		16		12		28
			% # Loans		0.00%		0.00%		0.38%		0.28%		0.66%
	BANKRUPTCY		Balance		2,954,276.97		184,537.91		204,115.44		294,842.34		3,637,772.66
			% Balance		0.36%		0.02%		0.03%		0.04%		0.45%
			# Loans		16		1		3		1		21
			% # Loans		0.38%		0.02%		0.07%		0.02%		0.50%
	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		2,954,276.97		13,718,041.53		7,480,150.47		4,353,934.70		28,506,403.67
			% Balance		0.36%		1.69%		0.92%		0.54%		3.51%
			# Loans		16		72		41		20		149
			% # Loans		0.38%		1.70%		0.97%		0.47%		3.52%









Page 12 of 31
Morgan Stanley ABS Capital I Inc. 2005-NC1

Mortgage Pass-Through Certificates

2005-NC1

June 27, 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 13 of 31
Morgan Stanley ABS Capital I Inc. 2005-NC1

Mortgage Pass-Through Certificates

2005-NC1

June 27, 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
1794720 1
			85,500.00		85,114.56		01-Feb-2005		8.400%		KS - 89.06%		360		01-Dec-2004

1835247 1			323,000.00		321,941.53		01-Feb-2005		9.850%		NY - 85.00%		360		01-Dec-2004
1835253 1			254,150.00		252,991.86		01-Jan-2005		8.250%		OR - 85.00%		360		01-Dec-2004
1836595 1			165,750.00		165,165.54		01-Feb-2005		9.500%		IL - 85.00%		360		01-Dec-2004
1840028 1			123,200.00		122,732.81		01-Jan-2005		9.150%		AK - 80.00%		360		01-Dec-2004
1857044 1			195,000.00		193,997.95		01-Feb-2005		7.650%		NV - 65.00%		360		01-Dec-2004
1860471 1			122,550.00		122,045.45		01-Feb-2005		8.750%		NY - 95.00%		360		01-Dec-2004
1864801 1			73,875.00		73,435.09		01-Jan-2005		6.900%		OR - 75.00%		360		01-Dec-2004
1870704 1			64,000.00		63,783.50		01-Jan-2005		9.700%		ME - 59.26%		360		01-Dec-2004
1884122 1			56,800.00		56,577.85		01-Jan-2005		9.000%		MI - 80.00%		360		01-Dec-2004
1886820 1			328,000.00		326,443.90		01-Feb-2005		8.050%		CA - 80.00%		360		01-Dec-2004
1888077 1			67,920.00		67,641.14		01-Feb-2005		9.300%		AL - 80.00%		360		01-Dec-2004
1895342 1			292,000.00		289,930.43		01-Dec-2004		5.990%		CA - 80.00%		360		01-Dec-2004
1900207 1			97,720.00		97,097.43		01-Feb-2005		6.550%		MN - 80.00%		360		01-Dec-2004
1908973 1			63,900.00		63,611.74		01-Jan-2005		8.300%		IN - 90.00%		360		01-Dec-2004
1909538 1			209,600.00		208,533.34		01-Jan-2005		7.700%		MD - 80.00%		360		01-Dec-2004
1913384 1			135,200.00		135,200.00		01-Feb-2005		8.000%		MI - 80.00%		360		01-Dec-2004
1915274 1			200,000.00		200,000.00		01-Jan-2005		6.850%		NV - 80.00%		360		01-Dec-2004
1924176 1			212,500.00		211,577.59		01-Feb-2005		8.490%		NY - 85.00%		360		01-Dec-2004
1000064290 1			207,000.00		206,107.51		01-Jan-2005		8.600%		FL - 100.00%		360		01-Dec-2004
1000075091 1			328,500.00		327,091.33		01-Jan-2005		8.550%		FL - 90.00%		360		01-Dec-2004
1659937 2			294,500.00		292,109.97		01-Feb-2005		7.850%		CO - 95.00%		360		01-Aug-2004
1831988 2			380,000.00		378,631.93		01-Dec-2004		9.400%		OH - 80.00%		360		01-Dec-2004
1836402 2			248,245.00		246,960.68		01-Dec-2004		8.300%		TX - 91.94%		360		01-Nov-2004
1839168 2			166,500.00		165,763.97		01-Dec-2004		8.400%		MI - 90.00%		360		01-Dec-2004
1856026 2			301,500.00		299,935.28		01-Jan-2005		7.600%		NY - 90.00%		360		01-Dec-2004
1858123 2			213,210.00		212,146.62		01-Feb-2005		7.800%		GA - 90.00%		360		01-Dec-2004
1862689 2			238,000.00		236,777.02		01-Jan-2005		7.650%		MI - 85.00%		360		01-Dec-2004
1866225 2			136,000.00		135,228.74		01-Feb-2005		7.150%		OH - 80.00%		360		01-Dec-2004
1873000 2			73,600.00		73,221.76		01-Feb-2005		7.650%		TX - 80.00%		360		01-Dec-2004
1875545 2			164,000.00		163,131.81		01-Feb-2005		7.500%		MN - 80.00%		360		01-Dec-2004
1875727 2			352,000.00		352,000.00		01-Jan-2005		6.750%		NY - 80.00%		360		01-Dec-2004
1878928 2			443,000.00		440,039.60		01-Feb-2005		6.300%		CA - 61.53%		360		01-Dec-2004
1884303 2			52,650.00		52,464.44		01-Feb-2005		10.450%		NE - 65.00%		360		01-Dec-2004
1884771 2			218,500.00		217,064.65		01-Feb-2005		6.390%		CA - 65.22%		360		01-Dec-2004
1886068 2			52,000.00		51,810.79		01-Jan-2005		9.350%		FL - 80.00%		360		01-Dec-2004
1889030 2			184,500.00		183,240.94		01-Feb-2005		6.900%		CO - 90.00%		360		01-Nov-2004
1900087 2			67,200.00		66,871.44		01-Feb-2005		7.900%		TX - 80.00%		360		01-Dec-2004
1902033 2			249,559.00		249,559.00		01-Feb-2005		6.825%		IL - 80.00%		360		01-Dec-2004
1907061 2			355,500.00		353,847.02		01-Feb-2005		8.150%		VA - 90.00%		360		01-Dec-2004
1907679 2			94,500.00		94,011.97		01-Jan-2005		7.625%		DC - 90.00%		360		01-Dec-2004
1909347 2			400,000.00		397,618.36		01-Dec-2004		6.900%		NY - 80.00%		360		01-Dec-2004
1918148 2			113,600.00		113,132.31		01-Jan-2005		8.750%		MI - 80.00%		360		01-Dec-2004
1928214 2			122,550.00		122,136.51		01-Dec-2004		8.950%		MN - 95.00%		360		01-Jan-2005
1936171 2			154,400.00		154,362.51		01-Feb-2005		5.800%		CO - 80.00%		360		01-Dec-2004
1948430 2			113,900.00		113,481.33		01-Jan-2005		9.300%		TX - 85.00%		360		01-Dec-2004
1000031147 2			112,300.00		111,777.58		01-Feb-2005		8.150%		AL - 89.13%		360		01-Dec-2004
1000067439 2			108,124.00		105,663.04		01-Feb-2005		6.850%		CA - 51.49%		180		01-Dec-2004
1000093936 2			117,325.00		116,908.29		01-Feb-2005		8.700%		IN - 95.00%		360		01-Jan-2005



Page 14 of 31
Morgan Stanley ABS Capital I Inc. 2005-NC1

Mortgage Pass-Through Certificates

2005-NC1

June 27, 2005 Distribution


TOTAL			9,133,328.00		9,090,918.11



Page 15 of 31
Morgan Stanley ABS Capital I Inc. 2005-NC1

Mortgage Pass-Through Certificates

2005-NC1

June 27, 2005 Distribution
Prepayment Report

VOLUNTARY PREPAYMENTS


											Group 2		Group 1		Total




Current


Number of Paid in Full Loans										118		116		234
Number of Repurchased Loans										1		5		6
Total Number of Loans Prepaid in Full										119		121		240
Curtailments Amount										40,288.14		69,855.18		110,143.32
Paid in Full Balance										25,531,345.84		24,003,258.15		49,534,603.99
Repurchased Loans Balance										361,184.88		1,399,270.78		1,760,455.66
Total Prepayment Amount										25,932,818.86		25,472,384.11		51,405,202.97

Cumulative


Number of Paid in Full Loans										372		327		699
Number of Repurchased Loans										1		5		6
Total Number of Loans Prepaid in Full										373		332		705
Paid in Full Balance										92,561,961.52		67,928,373.80		160,490,335.32
Repurchased Loans Balance										361,184.88		1,399,270.78		1,760,455.66
Curtailments Amount										231,217.65		239,362.75		470,580.40
Total Prepayment Amount										93,154,364.05		69,567,007.33		162,721,371.38










Page 16 of 31
Morgan Stanley ABS Capital I Inc. 2005-NC1

Mortgage Pass-Through Certificates

2005-NC1

June 27, 2005 Distribution

VOLUNTARY PREPAYMENTS RATES


											Group 2		Group 1		Total



SMM										3.09%		4.65%		3.71%
3 Months Avg SMM										3.00%		3.63%		3.25%
12 Months Avg SMM										2.67%		3.07%		2.83%
Avg SMM Since Cut-off										2.67%		3.07%		2.83%


CPR										31.39%		43.50%		36.44%
3 Months Avg CPR										30.61%		35.83%		32.71%
12 Months Avg CPR										27.75%		31.23%		29.14%
Avg CPR Since Cut-off										27.75%		31.23%		29.14%


PSA										2,206.28%		3,043.00%		2,556.08%
3 Months Avg PSA Approximation										2,503.15%		2,912.60%		2,668.87%
12 Months Avg PSA Approximation										2,470.72%		2,763.15%		2,587.98%
Avg PSA Since Cut-off Approximation										2,470.71%		2,763.15%		2,587.98%










Page 17 of 31
Morgan Stanley ABS Capital I Inc. 2005-NC1

Mortgage Pass-Through Certificates

2005-NC1

June 27, 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 18 of 31
Morgan Stanley ABS Capital I Inc. 2005-NC1

Mortgage Pass-Through Certificates

2005-NC1

June 27, 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	Principal		Prepayment			Prepayment		Note		LTV at		&		Payment

Loan Group		Status	Balance		Amount			Date		Rate		Origination		Original Term		Date

1498824 1			148,750.00		147,647.90			24-May-2005		7.100%		GA - 85.00%		Paid Off - 360		01-Sep-2004


1619758 2			138,000.00		136,882.88			31-May-2005		7.200%		CA - 55.65%		Paid Off - 360		01-Aug-2004

1736766 1			243,100.00		241,825.76			17-May-2005		7.550%		FL - 85.00%		Paid Off - 360		01-Nov-2004

1781469 1			75,000.00		74,490.92			19-May-2005		8.000%		OH - 57.69%		Paid Off - 360		01-Dec-2004

1782146 2			264,600.00		263,213.14			01-Jun-2005		7.550%		NJ - 90.00%		Paid Off - 360		01-Nov-2004

1782332 1			274,500.00		273,286.51			20-May-2005		8.400%		CA - 90.00%		Paid Off - 360		01-Nov-2004

1791477 1			211,500.00		210,391.91			23-May-2005		6.750%		CA - 90.00%		Paid Off - 360		01-Dec-2004

1793762 1			176,000.00		174,993.62			27-May-2005		7.850%		MI - 74.89%		Paid Off - 360		01-Nov-2004

1794777 2			187,000.00		186,281.14			26-May-2005		8.850%		NJ - 84.62%		Paid Off - 360		01-Dec-2004

1795385 2			63,200.00		62,973.20			06-Jun-2005		9.250%		FL - 80.00%		Paid Off - 360		01-Dec-2004

1801087 1			312,000.00		309,788.72			31-May-2005		5.990%		CA - 69.33%		Paid Off - 360		01-Nov-2004

1811850 1			346,500.00		345,256.42			07-Jun-2005		8.650%		CA - 90.00%		Paid Off - 360		01-Dec-2004

1820953 1			50,000.00		49,823.30			07-Jun-2005		8.725%		PA - 74.07%		Paid Off - 360		01-Dec-2004

1830206 1			176,000.00		176,000.00			14-Jun-2005		6.350%		CA - 80.00%		Paid Off - 360		01-Nov-2004

1830945 2			294,000.00		292,820.31			20-May-2005		8.875%		NY - 70.00%		Paid Off - 360		01-Nov-2004

1831759 2			330,000.00		328,709.43			20-May-2005		9.000%		CA - 75.00%		Paid Off - 360		01-Nov-2004

1833756 1			212,000.00		210,668.49			14-Jun-2005		5.800%		CA - 80.00%		Paid Off - 360		01-Dec-2004

1836869 2			110,000.00		109,523.46			24-May-2005		8.500%		NJ - 59.46%		Paid Off - 360		01-Nov-2004

1839842 1			212,000.00		211,105.11			07-Jun-2005		7.850%		FL - 94.64%		Paid Off - 360		01-Dec-2004

1844586 1			200,000.00		199,318.18			19-May-2005		8.900%		PA - 78.43%		Paid Off - 360		01-Dec-2004

1845335 1			136,800.00		136,304.03			31-May-2005		8.600%		PA - 90.00%		Paid Off - 360		01-Dec-2004

1846254 1			206,000.00		206,000.00			01-Jun-2005		6.200%		MD - 60.95%		Paid Off - 360		01-Dec-2004

1846402 2			105,000.00		104,029.18			19-May-2005		8.200%		MI - 78.95%		Paid Off - 360		01-Dec-2004

1846615 2			280,000.00		278,458.21			19-May-2005		7.300%		CA - 64.67%		Paid Off - 360		01-Nov-2004

1846767 2			100,000.00		99,444.85			09-Jun-2005		6.450%		HI - 86.96%		Paid Off - 360		01-Dec-2004

1847193 2			310,000.00		308,538.59			27-May-2005		7.300%		IL - 80.00%		Paid Off - 360		01-Dec-2004

1849825 1			104,400.00		103,858.32			18-May-2005		8.550%		MI - 90.00%		Paid Off - 360		01-Nov-2004

1849914 2			92,000.00		91,522.14			03-Jun-2005		7.600%		NJ - 80.00%		Paid Off - 360		01-Nov-2004

1850226 2			192,100.00		192,100.00			27-May-2005		5.650%		IL - 80.71%		Paid Off - 360		01-Nov-2004

1850421 2			126,000.00		125,371.15			17-May-2005		7.000%		CA - 84.00%		Paid Off - 360		01-Dec-2004

1851608 1			200,000.00		199,999.80			31-May-2005		6.350%		CA - 45.77%		Paid Off - 360		01-Nov-2004

1852297 1			202,500.00		201,315.22			07-Jun-2005		6.990%		CA - 90.00%		Paid Off - 360		01-Nov-2004

1852527 1			59,500.00		59,304.86			09-Jun-2005		9.300%		PA - 70.00%		Paid Off - 360		01-Dec-2004

1853850 1			272,350.00		271,508.51			16-May-2005		9.375%		CT - 65.00%		Paid Off - 360		01-Dec-2004

1854019 1			247,200.00		245,532.28			16-May-2005		6.250%		CA - 80.00%		Paid Off - 360		01-Nov-2004

1854101 1			91,800.00		91,410.76			27-May-2005		7.850%		NM - 84.22%		Paid Off - 360		01-Dec-2004

1855256 1			197,000.00		196,027.25			08-Jun-2005		7.850%		CA - 69.61%		Paid Off - 360		01-Nov-2004




Page 19 of 31
Morgan Stanley ABS Capital I Inc. 2005-NC1

Mortgage Pass-Through Certificates

2005-NC1

June 27, 2005 Distribution

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


&		Loan	Principal		Prepayment			Prepayment		Note		LTV at		&		Payment

Loan Group		Status	Balance		Amount			Date		Rate		Origination		Original Term		Date

1858034 2			119,000.00		118,581.62			25-May-2005		8.750%		FL - 85.00%		Paid Off - 360		01-Dec-2004


1858898 1			163,500.00		163,500.00			31-May-2005		6.750%		MD - 72.67%		Paid Off - 360		01-Nov-2004

1859208 1			224,000.00		223,035.93			13-Jun-2005		7.750%		CA - 80.00%		Paid Off - 360		01-Dec-2004

1861385 1			176,000.00		175,195.74			24-May-2005		7.450%		MD - 62.86%		Paid Off - 360		01-Dec-2004

1861792 2			118,000.00		117,535.96			24-May-2005		8.200%		VA - 78.67%		Paid Off - 360		01-Dec-2004

1861950 2			220,400.00		219,649.11			03-Jun-2005		7.990%		MI - 95.00%		Paid Off - 360		01-Jan-2005

1862844 1			246,500.00		245,470.45			23-May-2005		7.900%		NV - 85.00%		Paid Off - 360		01-Dec-2004

1862879 2			236,250.00		235,024.18			13-May-2005		6.800%		RI - 75.00%		Paid Off - 360		01-Dec-2004

1862898 2			573,300.00		570,497.25			06-May-2005		7.900%		NV - 90.00%		Paid Off - 360		01-Nov-2004

1863059 2			273,000.00		271,547.74			17-May-2005		7.475%		NJ - 84.91%		Paid Off - 360		01-Nov-2004

1863538 2			78,400.00		78,127.16			31-May-2005		8.800%		NJ - 80.00%		Paid Off - 360		01-Dec-2004

1864209 2			83,300.00		82,975.73			10-Jun-2005		8.250%		PA - 85.00%		Paid Off - 360		01-Dec-2004

1865699 2			274,000.00		273,366.44			31-May-2005		10.750%		NJ - 54.80%		Paid Off - 360		01-Dec-2004

1867306 2			255,000.00		253,924.28			16-May-2005		7.850%		IL - 69.86%		Paid Off - 360		01-Dec-2004

1867757 2			127,500.00		127,484.06			27-May-2005		7.850%		UT - 85.00%		Paid Off - 360		01-Dec-2004

1868748 2			140,250.00		139,529.29			03-Jun-2005		6.850%		NJ - 85.00%		Paid Off - 360		01-Dec-2004

1870274 2			181,800.00		181,068.80			19-May-2005		8.088%		NJ - 90.00%		Paid Off - 360		01-Dec-2004

1871239 2			266,000.00		264,738.53			18-May-2005		8.100%		VA - 74.93%		Paid Off - 360		01-Nov-2004

1872329 2			255,000.00		255,000.00			16-May-2005		7.600%		NV - 85.00%		Paid Off - 360		01-Dec-2004

1872390 2			332,000.00		330,359.24			23-May-2005		7.050%		NY - 80.00%		Paid Off - 360		01-Dec-2004

1872617 2			221,000.00		220,173.96			23-May-2005		8.450%		AZ - 85.00%		Paid Off - 360		01-Dec-2004

1872733 2			212,500.00		211,426.83			31-May-2005		7.300%		NJ - 85.00%		Paid Off - 360		01-Dec-2004

1874118 2			139,000.00		138,292.63			08-Jun-2005		6.900%		CA - 46.96%		Paid Off - 360		01-Dec-2004

1874338 1			266,250.00		265,160.08			03-Jun-2005		8.000%		MD - 75.00%		Paid Off - 360		01-Dec-2004

1875324 1			307,800.00		306,233.95			06-Jun-2005		7.700%		CA - 90.00%		Paid Off - 360		01-Nov-2004

1876666 1			230,000.00		229,053.14			02-Jun-2005		8.750%		MD - 63.01%		Paid Off - 360		01-Nov-2004

1876986 1			238,000.00		236,979.49			26-May-2005		8.550%		NJ - 74.84%		Paid Off - 360		01-Nov-2004

1879536 1			284,000.00		283,982.00			09-Jun-2005		6.600%		CA - 80.00%		Paid Off - 360		01-Dec-2004

1879641 2			157,000.00		156,320.92			25-May-2005		7.725%		NJ - 69.78%		Paid Off - 360		01-Dec-2004

1880543 1			221,000.00		219,950.83			25-May-2005		7.650%		CA - 85.00%		Paid Off - 360		01-Dec-2004

1881940 1			70,000.00		69,734.21			24-May-2005		8.400%		IL - 63.64%		Paid Off - 360		01-Dec-2004

1883141 1			326,000.00		323,800.62			10-Jun-2005		6.250%		CA - 74.94%		Paid Off - 360		01-Nov-2004

1883821 2			320,150.00		320,150.00			24-May-2005		6.750%		GA - 95.00%		Paid Off - 360		01-Nov-2004

1883923 1			311,100.00		311,100.00			01-Jun-2005		7.750%		CA - 80.00%		Paid Off - 360		01-Nov-2004

1884517 1			223,250.00		221,962.36			02-Jun-2005		6.250%		TN - 95.00%		Paid Off - 360		01-Dec-2004

1885175 1			126,000.00		125,344.04			12-May-2005		7.425%		CA - 62.38%		Paid Off - 360		01-Dec-2004

1886102 2			69,230.00		69,024.81			18-May-2005		9.575%		IL - 70.00%		Paid Off - 360		01-Dec-2004

1886187 1			127,500.00		126,764.61			15-Jun-2005		6.250%		OH - 75.00%		Paid Off - 360		01-Dec-2004




Page 20 of 31
Morgan Stanley ABS Capital I Inc. 2005-NC1

Mortgage Pass-Through Certificates

2005-NC1

June 27, 2005 Distribution

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


&		Loan	Principal		Prepayment			Prepayment		Note		LTV at		&		Payment

Loan Group		Status	Balance		Amount			Date		Rate		Origination		Original Term		Date

1886826 2			221,208.00		219,897.93			03-Jun-2005		6.400%		AZ - 80.00%		Paid Off - 360		01-Dec-2004


1887016 2			585,000.00		582,274.37			19-May-2005		7.350%		CA - 90.00%		Paid Off - 360		01-Dec-2004

1887083 2			151,200.00		150,415.44			26-May-2005		6.800%		CT - 90.00%		Paid Off - 360		01-Dec-2004

1887243 1			313,500.00		311,966.58			31-May-2005		8.800%		WA - 95.00%		Paid Off - 360		01-Nov-2004

1887592 1			223,200.00		222,390.77			27-May-2005		8.600%		MD - 80.00%		Paid Off - 360		01-Dec-2004

1888007 1			157,250.00		156,517.34			10-Jun-2005		7.350%		PA - 85.00%		Paid Off - 360		01-Dec-2004

1888073 1			135,000.00		134,373.75			09-Jun-2005		7.850%		IL - 75.00%		Paid Off - 360		01-Dec-2004

1888271 1			152,000.00		152,000.00			01-Jun-2005		7.300%		AZ - 80.00%		Paid Off - 360		01-Dec-2004

1888437 2			420,750.00		415,733.16			19-May-2005		5.875%		CA - 85.00%		Paid Off - 300		01-Dec-2004

1890066 2			403,000.00		400,805.44			23-May-2005		6.550%		MD - 73.27%		Paid Off - 360		01-Dec-2004

1890566 1			299,250.00		297,771.11			17-May-2005		7.050%		CA - 95.00%		Paid Off - 360		01-Dec-2004

1891196 2			267,750.00		266,660.76			23-May-2005		8.525%		IL - 85.00%		Paid Off - 360		01-Dec-2004

1891559 2			256,500.00		255,413.48			23-May-2005		8.300%		NV - 90.00%		Paid Off - 360		01-Dec-2004

1891897 1			108,000.00		107,646.69			13-Jun-2005		9.100%		MD - 80.00%		Paid Off - 360		01-Dec-2004

1892278 1			189,000.00		187,970.76			31-May-2005		6.550%		AZ - 90.00%		Paid Off - 360		01-Dec-2004

1894217 1			160,000.00		159,220.82			09-Jun-2005		7.125%		NV - 80.00%		Paid Off - 360		01-Dec-2004

1894346 1			282,709.00		281,467.77			03-Jun-2005		7.650%		ID - 84.72%		Paid Off - 360		01-Dec-2004

1894711 1			130,000.00		129,574.73			03-Jun-2005		9.100%		DC - 64.36%		Paid Off - 360		01-Dec-2004

1894741 1			384,000.00		382,629.09			27-May-2005		8.675%		NJ - 80.00%		Paid Off - 360		01-Dec-2004

1895279 1			212,000.00		211,191.33			02-Jun-2005		8.350%		NY - 57.30%		Paid Off - 360		01-Dec-2004

1895340 2			384,000.00		381,197.51			27-May-2005		4.990%		CA - 80.00%		Paid Off - 360		01-Dec-2004

1895528 1			141,500.00		140,776.16			06-Jun-2005		7.000%		CA - 84.23%		Paid Off - 360		01-Dec-2004

1896061 1			131,855.00		131,280.88			25-May-2005		8.150%		AZ - 80.00%		Paid Off - 360		01-Dec-2004

1896146 1			184,000.00		183,059.11			10-Jun-2005		6.875%		CA - 80.00%		Paid Off - 360		01-Dec-2004

1896191 2			105,000.00		104,465.64			19-May-2005		6.900%		NJ - 70.00%		Paid Off - 360		01-Dec-2004

1896217 1			205,000.00		204,176.78			17-May-2005		8.375%		CA - 65.08%		Paid Off - 360		01-Dec-2004

1896317 1			140,000.00		139,192.15			11-May-2005		6.550%		DC - 54.90%		Paid Off - 360		01-Dec-2004

1896561 1			178,500.00		177,684.56			15-Jun-2005		7.450%		IL - 85.00%		Paid Off - 360		01-Dec-2004

1897043 2			120,600.00		120,091.42			19-May-2005		8.250%		AZ - 90.00%		Paid Off - 360		01-Dec-2004

1897449 2			75,001.00		73,871.84			23-May-2005		9.850%		SC - 75.00%		Paid Off - 180		01-Dec-2004

1897487 1			94,500.00		93,810.83			26-May-2005		5.950%		VA - 75.00%		Paid Off - 360		01-Dec-2004

1897863 2			484,500.00		482,197.70			14-Jun-2005		7.250%		CA - 83.97%		Paid Off - 360		01-Dec-2004

1898026 1			210,000.00		208,927.16			07-Jun-2005		6.880%		CA - 67.74%		Paid Off - 360		01-Dec-2004

1898636 2			360,000.00		357,893.72			27-May-2005		6.990%		AZ - 80.00%		Paid Off - 360		01-Nov-2004

1899321 2			85,050.00		84,524.31			24-May-2005		6.600%		VA - 70.00%		Paid Off - 360		01-Dec-2004

1899420 2			67,500.00		67,265.09			23-May-2005		8.800%		MI - 90.00%		Paid Off - 360		01-Dec-2004

1899584 2			202,300.00		201,528.35			15-Jun-2005		8.350%		NJ - 85.00%		Paid Off - 360		01-Dec-2004

1900466 2			376,000.00		374,521.57			02-Jun-2005		8.200%		NY - 80.00%		Paid Off - 360		01-Dec-2004




Page 21 of 31
Morgan Stanley ABS Capital I Inc. 2005-NC1

Mortgage Pass-Through Certificates

2005-NC1

June 27, 2005 Distribution

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


&		Loan	Principal		Prepayment			Prepayment		Note		LTV at		&		Payment

Loan Group		Status	Balance		Amount			Date		Rate		Origination		Original Term		Date

1900636 2			50,000.00		49,772.68			07-Jun-2005		7.475%		MI - 30.77%		Paid Off - 360		01-Dec-2004


1900866 2			194,000.00		192,776.79			15-Jun-2005		6.700%		MD - 84.35%		Paid Off - 360		01-Dec-2004

1901296 1			168,000.00		166,102.91			13-Jun-2005		7.550%		MI - 65.37%		Paid Off - 360		01-Dec-2004

1901441 1			233,750.00		232,788.26			23-May-2005		7.975%		OH - 85.00%		Paid Off - 360		01-Dec-2004

1901496 1			165,750.00		165,032.62			24-May-2005		8.150%		CA - 65.00%		Paid Off - 360		01-Dec-2004

1902202 1			238,000.00		235,324.17			15-Jun-2005		8.275%		MA - 70.00%		Paid Off - 360		01-Dec-2004

1902473 2			229,600.00		228,596.81			06-Jun-2005		7.675%		NJ - 80.00%		Paid Off - 360		01-Dec-2004

1902578 2			137,700.00		136,992.40			31-May-2005		6.850%		MA - 51.00%		Paid Off - 360		01-Dec-2004

1902886 1			350,000.00		348,353.13			01-Jun-2005		7.300%		HI - 70.00%		Paid Off - 360		01-Dec-2004

1903095 1			208,000.00		207,386.78			02-Jun-2005		9.600%		OH - 80.00%		Paid Off - 360		01-Dec-2004

1903108 1			145,350.00		144,176.47			06-Jun-2005		6.950%		CA - 95.00%		Paid Off - 360		01-Dec-2004

1903115 2			102,000.00		101,480.91			03-Jun-2005		6.900%		MO - 85.00%		Paid Off - 360		01-Dec-2004

1903681 1			157,500.00		156,861.35			03-Jun-2005		8.050%		MA - 90.00%		Paid Off - 360		01-Dec-2004

1903858 1			185,000.00		183,705.41			07-Jun-2005		6.500%		CA - 64.91%		Paid Off - 360		01-Dec-2004

1903868 1			117,000.00		116,394.93			18-May-2005		7.175%		CA - 90.00%		Paid Off - 360		01-Dec-2004

1904877 1			500,000.00		497,890.67			01-Jun-2005		7.850%		CA - 83.33%		Paid Off - 360		01-Dec-2004

1904909 1			480,000.00		477,557.38			01-Jun-2005		6.900%		CA - 80.00%		Paid Off - 360		01-Dec-2004

1904967 1			148,000.00		146,709.21			07-Jun-2005		7.888%		MA - 92.50%		Paid Off - 240		01-Jan-2005

1905487 1			299,000.00		297,970.21			14-Jun-2005		8.850%		CA - 65.00%		Paid Off - 360		01-Dec-2004

1905898 2			272,000.00		270,574.96			17-May-2005		6.750%		NJ - 80.00%		Paid Off - 360		01-Dec-2004

1906217 2			264,000.00		262,466.60			03-Jun-2005		6.375%		MA - 80.00%		Paid Off - 360		01-Dec-2004

1906252 1			225,000.00		223,909.62			08-Jun-2005		7.150%		ME - 76.27%		Paid Off - 360		01-Dec-2004

1907305 1			282,000.00		280,755.76			17-May-2005		7.625%		IL - 75.00%		Paid Off - 360		01-Dec-2004

1908009 2			340,000.00		337,890.81			25-May-2005		7.350%		NV - 85.00%		Paid Off - 360		01-Dec-2004

1908719 2			250,200.00		248,672.74			10-Jun-2005		5.990%		NV - 90.00%		Paid Off - 360		01-Dec-2004

1908736 1			289,000.00		287,256.99			20-May-2005		6.990%		CA - 85.00%		Paid Off - 360		01-Dec-2004

1908920 2			207,000.00		206,999.60			24-May-2005		7.750%		NJ - 90.00%		Paid Off - 360		01-Dec-2004

1908970 2			333,600.00		333,600.00			07-Jun-2005		6.750%		CA - 80.00%		Paid Off - 360		01-Dec-2004

1909132 2			335,750.00		334,105.73			10-Jun-2005		7.250%		CA - 83.94%		Paid Off - 360		01-Dec-2004

1909522 1			143,500.00		143,214.85			02-Jun-2005		11.475%		FL - 70.00%		Paid Off - 360		01-Dec-2004

1909607 1			58,000.00		57,802.26			13-Jun-2005		8.900%		TX - 89.23%		Paid Off - 360		01-Dec-2004

1910039 1			216,000.00		213,671.56			26-May-2005		7.700%		CA - 64.48%		Paid Off - 360		01-Dec-2004

1910167 1			368,000.00		368,000.00			17-May-2005		7.600%		CA - 80.00%		Paid Off - 360		01-Dec-2004

1910248 1			175,410.00		174,779.94			02-Jun-2005		8.650%		MA - 90.00%		Paid Off - 360		01-Dec-2004

1910380 2			90,900.00		89,268.65			19-May-2005		7.825%		MI - 89.99%		Paid Off - 360		01-Dec-2004

1910879 1			342,000.00		338,330.68			26-May-2005		7.150%		NJ - 95.00%		Paid Off - 360		01-Dec-2004

1911139 2			107,120.00		106,572.19			14-Jun-2005		6.875%		GA - 80.00%		Paid Off - 360		01-Dec-2004

1911276 2			204,000.00		202,991.81			09-Jun-2005		7.050%		NV - 80.00%		Paid Off - 360		01-Dec-2004




Page 22 of 31
Morgan Stanley ABS Capital I Inc. 2005-NC1

Mortgage Pass-Through Certificates

2005-NC1

June 27, 2005 Distribution

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


&		Loan	Principal		Prepayment			Prepayment		Note		LTV at		&		Payment

Loan Group		Status	Balance		Amount			Date		Rate		Origination		Original Term		Date

1911302 2			108,450.00		108,032.08			24-May-2005		8.300%		TX - 90.00%		Paid Off - 360		01-Dec-2004


1911352 2			130,000.00		129,212.20			01-Jun-2005		5.990%		CA - 65.00%		Paid Off - 360		01-Dec-2004

1913548 1			200,000.00		199,240.71			25-May-2005		8.450%		MA - 51.95%		Paid Off - 360		01-Dec-2004

1913827 2			292,000.00		290,145.07			08-Jun-2005		6.000%		CA - 80.00%		Paid Off - 360		01-Dec-2004

1914068 1			228,000.00		227,014.84			24-May-2005		7.730%		WA - 83.82%		Paid Off - 360		01-Dec-2004

1915810 2			107,000.00		106,183.14			31-May-2005		6.900%		AZ - 73.79%		Paid Off - 300		01-Dec-2004

1916152 1			133,000.00		132,465.97			01-Jun-2005		8.100%		MN - 95.00%		Paid Off - 360		01-Dec-2004

1916489 2			61,650.00		61,437.60			23-May-2005		8.850%		MI - 90.00%		Paid Off - 360		01-Dec-2004

1916650 2			92,650.00		92,281.99			31-May-2005		8.150%		FL - 85.00%		Paid Off - 360		01-Dec-2004

1917030 1			256,000.00		254,773.99			06-Jun-2005		7.250%		VA - 80.00%		Paid Off - 360		01-Dec-2004

1917275 2			337,500.00		336,145.90			03-Jun-2005		8.100%		MA - 90.00%		Paid Off - 360		01-Dec-2004

1917742 2			91,600.00		91,255.78			06-Jun-2005		7.500%		MA - 80.00%		Paid Off - 360		01-Jan-2005

1918639 1			216,000.00		214,963.47			01-Jun-2005		7.200%		MN - 90.00%		Paid Off - 360		01-Dec-2004

1918641 2			397,800.00		397,800.00			08-Jun-2005		6.000%		CA - 85.00%		Paid Off - 360		01-Dec-2004

1919184 2			105,000.00		104,627.05			31-May-2005		8.700%		MT - 75.00%		Paid Off - 360		01-Dec-2004

1919209 2			228,000.00		227,038.12			31-May-2005		7.850%		IL - 76.00%		Paid Off - 360		01-Dec-2004

1919270 1			175,000.00		174,499.38			02-Jun-2005		9.750%		CA - 70.00%		Paid Off - 360		01-Dec-2004

1919621 2			81,000.00		80,663.73			24-May-2005		8.275%		FL - 90.00%		Paid Off - 360		01-Dec-2004

1919645 2			330,000.00		329,147.21			15-Jun-2005		10.225%		NY - 100.00%		Paid Off - 360		01-Dec-2004

1920501 1			250,000.00		248,487.95			26-May-2005		6.000%		CA - 76.92%		Paid Off - 360		01-Dec-2004

1920818 2			200,000.00		199,130.58			01-Jun-2005		7.700%		CA - 37.04%		Paid Off - 360		01-Dec-2004

1921007 2			168,000.00		167,291.23			01-Jun-2005		7.850%		NH - 80.00%		Paid Off - 360		01-Dec-2004

1921207 1			281,350.00		280,151.16			16-May-2005		7.800%		IL - 85.00%		Paid Off - 360		01-Dec-2004

1922104 1			105,000.00		102,869.57			01-Jun-2005		6.350%		FL - 56.76%		Paid Off - 180		01-Dec-2004

1922733 1			220,575.00		219,429.10			02-Jun-2005		7.490%		CA - 85.00%		Paid Off - 360		01-Dec-2004

1922783 1			317,250.00		315,938.21			01-Jun-2005		7.950%		VA - 75.00%		Paid Off - 360		01-Dec-2004

1922899 2			255,000.00		254,007.46			10-May-2005		8.250%		MD - 85.00%		Paid Off - 360		01-Dec-2004

1922911 1			176,000.00		176,000.00			07-Jun-2005		8.100%		MI - 80.00%		Paid Off - 360		01-Dec-2004

1922976 2			212,000.00		211,112.55			23-May-2005		7.990%		CA - 80.00%		Paid Off - 360		01-Dec-2004

1923318 1			188,000.00		187,297.27			25-May-2005		8.450%		IL - 80.00%		Paid Off - 360		01-Dec-2004

1923705 1			176,000.00		175,459.02			16-May-2005		9.400%		CA - 80.00%		Paid Off - 360		01-Dec-2004

1923897 2			51,000.00		50,333.25			25-May-2005		6.050%		LA - 85.00%		Paid Off - 240		01-Dec-2004

1924558 2			233,200.00		231,978.18			08-Jun-2005		6.750%		IL - 80.00%		Paid Off - 360		01-Dec-2004

1924663 2			296,100.00		296,100.00			16-May-2005		7.600%		MN - 90.00%		Paid Off - 360		01-Dec-2004

1924743 1			238,000.00		236,580.99			15-Jun-2005		7.200%		CA - 65.56%		Paid Off - 360		01-Dec-2004

1924858 1			218,500.00		217,491.98			23-May-2005		7.400%		CA - 89.18%		Paid Off - 360		01-Dec-2004

1925503 2			100,800.00		100,344.06			08-Jun-2005		7.500%		CO - 60.00%		Paid Off - 360		01-Dec-2004

1925997 1			194,400.00		193,627.87			16-May-2005		8.150%		CA - 80.00%		Paid Off - 360		01-Dec-2004




Page 23 of 31
Morgan Stanley ABS Capital I Inc. 2005-NC1

Mortgage Pass-Through Certificates

2005-NC1

June 27, 2005 Distribution

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


&		Loan	Principal		Prepayment			Prepayment		Note		LTV at		&		Payment

Loan Group		Status	Balance		Amount			Date		Rate		Origination		Original Term		Date

1926843 2			315,000.00		313,736.17			01-Jun-2005		8.100%		NJ - 90.00%		Paid Off - 360		01-Dec-2004


1927163 1			137,700.00		137,096.20			03-Jun-2005		8.100%		TN - 90.00%		Paid Off - 360		01-Dec-2004

1930558 2			256,500.00		255,012.18			01-Jun-2005		6.225%		MN - 90.00%		Paid Off - 360		01-Dec-2004

1931401 2			225,000.00		223,982.29			09-Jun-2005		7.500%		MD - 90.00%		Paid Off - 360		01-Dec-2004

1931540 2			233,750.00		231,007.70			07-Jun-2005		7.500%		MA - 85.00%		Paid Off - 360		01-Dec-2004

1932840 2			101,600.00		101,096.60			06-Jun-2005		7.050%		MI - 80.00%		Paid Off - 360		01-Dec-2004

1932989 2			52,700.00		52,476.54			25-May-2005		7.825%		OH - 85.00%		Paid Off - 360		01-Dec-2004

1933164 2			324,800.00		323,014.20			03-Jun-2005		6.500%		AZ - 80.00%		Paid Off - 360		01-Dec-2004

1933818 2			251,000.00		249,646.32			27-May-2005		6.600%		FL - 82.30%		Paid Off - 360		01-Dec-2004

1933905 1			150,750.00		150,054.48			16-May-2005		7.400%		AZ - 90.00%		Paid Off - 360		01-Dec-2004

1934346 2			435,600.00		433,567.94			13-May-2005		7.350%		NY - 90.00%		Paid Off - 360		01-Dec-2004

1935805 2			153,600.00		152,803.03			08-Jun-2005		6.800%		IL - 80.00%		Paid Off - 360		01-Dec-2004

1936422 2			208,000.00		207,999.97			06-Jun-2005		6.850%		VA - 80.00%		Paid Off - 360		01-Dec-2004

1937602 1			126,000.00		125,161.01			08-Jun-2005		6.000%		CA - 52.50%		Paid Off - 360		01-Dec-2004

1937945 2			175,500.00		174,602.52			17-May-2005		6.875%		NJ - 90.00%		Paid Off - 360		01-Dec-2004

1938191 2			225,000.00		223,798.13			02-Jun-2005		6.650%		OR - 72.58%		Paid Off - 360		01-Dec-2004

1939188 2			120,000.00		119,174.24			25-May-2005		7.250%		MD - 75.00%		Paid Off - 360		01-Dec-2004

1939338 2			442,860.00		442,860.00			03-Jun-2005		7.850%		NV - 80.00%		Paid Off - 360		01-Dec-2004

1940462 2			109,000.00		108,346.95			08-Jun-2005		6.050%		IL - 80.74%		Paid Off - 360		01-Dec-2004

1941742 1			152,800.00		151,746.85			02-Jun-2005		6.450%		NJ - 80.00%		Paid Off - 360		01-Dec-2004

1942592 1			448,000.00		445,764.26			25-May-2005		7.000%		CA - 80.00%		Paid Off - 360		01-Dec-2004

1942685 2			261,000.00		259,722.73			20-May-2005		7.100%		MD - 90.00%		Paid Off - 360		01-Dec-2004

1943295 2			172,500.00		171,800.87			19-May-2005		8.050%		NJ - 75.00%		Paid Off - 360		01-Dec-2004

1943407 1			138,000.00		137,309.93			17-May-2005		6.990%		CA - 77.53%		Paid Off - 360		01-Dec-2004

1943451 1			85,600.00		85,231.60			23-May-2005		7.750%		TX - 75.09%		Paid Off - 360		01-Dec-2004

1947506 2			425,000.00		422,773.36			23-May-2005		6.750%		CA - 79.89%		Paid Off - 360		01-Dec-2004

1955230 1			289,000.00		287,946.03			23-May-2005		7.650%		CA - 85.00%		Paid Off - 360		01-Jan-2005

1000029249 1			280,000.00		278,332.89			08-Jun-2005		6.900%		CA - 72.54%		Paid Off - 360		01-Nov-2004

1000046266 1			280,000.00		280,000.00			14-Jun-2005		7.500%		CA - 80.00%		Paid Off - 360		01-Nov-2004

1000047746 2			156,500.00		155,786.85			19-May-2005		8.250%		FL - 68.04%		Paid Off - 360		01-Nov-2004

1000052604 1			100,000.00		99,650.23			19-May-2005		8.775%		FL - 30.30%		Paid Off - 360		01-Dec-2004

1000053391 1			157,500.00		156,454.58			15-Jun-2005		6.500%		CA - 90.00%		Paid Off - 360		01-Nov-2004

1000055503 1			180,000.00		178,665.35			23-May-2005		5.750%		CA - 64.29%		Paid Off - 360		01-Nov-2004

1000056021 2			192,000.00		192,000.00			09-Jun-2005		5.600%		CA - 80.00%		Paid Off - 360		01-Dec-2004

1000056067 2			675,000.00		671,548.41			07-Jun-2005		6.875%		CA - 90.00%		Paid Off - 360		01-Dec-2004

1000059126 2			126,000.00		125,352.54			31-May-2005		6.850%		FL - 70.00%		Paid Off - 360		01-Dec-2004

1000060463 2			332,800.00		331,410.02			18-May-2005		7.900%		NV - 89.99%		Paid Off - 360		01-Dec-2004

1000062700 2			154,228.00		153,443.15			07-Jun-2005		6.900%		FL - 80.00%		Paid Off - 360		01-Dec-2004




Page 24 of 31
Morgan Stanley ABS Capital I Inc. 2005-NC1

Mortgage Pass-Through Certificates

2005-NC1

June 27, 2005 Distribution

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


&		Loan	Principal		Prepayment			Prepayment		Note		LTV at		&		Payment

Loan Group		Status	Balance		Amount			Date		Rate		Origination		Original Term		Date

1000064272 1			192,912.00		191,977.07			14-Jun-2005		7.150%		FL - 80.00%		Paid Off - 360		01-Dec-2004


1000068429 1			130,000.00		127,250.03			18-May-2005		5.990%		CA - 52.00%		Paid Off - 240		01-Dec-2004

1000078221 2			140,500.00		139,883.14			19-May-2005		7.650%		FL - 84.64%		Paid Off - 360		01-Dec-2004

1000094258 2			75,200.00		74,794.41			27-May-2005		6.600%		MO - 88.47%		Paid Off - 360		01-Dec-2004

1000094445 1			275,000.00		273,597.31			27-May-2005		6.888%		NJ - 62.50%		Paid Off - 360		01-Dec-2004

1000120256 2			238,000.00		237,182.59			09-Jun-2005		7.950%		MN - 85.00%		Paid Off - 360		01-Jan-2005

1000127954 2			263,000.00		262,069.18			03-Jun-2005		7.800%		RI - 84.84%		Paid Off - 360		01-Jan-2005

1000041911 1			280,000.00		279,999.98			01-Jan-1900		5.990%		CA - 80.00%		Repur/Subs - 360		01-Dec-2004

1000045374 1			336,000.00		332,655.30			01-Jan-1900		5.750%		CA - 80.00%		Repur/Subs - 360		01-Dec-2004

1000049156 1			340,000.00		340,000.00			01-Jan-1900		6.750%		CA - 80.00%		Repur/Subs - 360		01-Nov-2004

1000065672 2			363,000.00		361,184.88			01-Jan-1900		6.990%		CA - 84.81%		Repur/Subs - 360		01-Dec-2004

1000073244 1			188,000.00		187,197.06			01-Jan-1900		8.250%		CA - 64.83%		Repur/Subs - 360		01-Dec-2004

1000100599 1			261,000.00		259,418.44			01-Jan-1900		5.990%		CA - 88.47%		Repur/Subs - 360		01-Dec-2004



TOTAL			51,533,258.00		51,295,059.65



Page 25 of 31
Morgan Stanley ABS Capital I Inc. 2005-NC1

Mortgage Pass-Through Certificates

2005-NC1

June 27, 2005 Distribution
Realized Loss Report

COLLATERAL REALIZED LOSSES



											Group 2		Group 1		Total


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




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 26 of 31
Morgan Stanley ABS Capital I Inc. 2005-NC1

Mortgage Pass-Through Certificates

2005-NC1

June 27, 2005 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 27 of 31
Morgan Stanley ABS Capital I Inc. 2005-NC1

Mortgage Pass-Through Certificates

2005-NC1

June 27, 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 28 of 31
Morgan Stanley ABS Capital I Inc. 2005-NC1

Mortgage Pass-Through Certificates

2005-NC1

June 27, 2005 Distribution
Realized Loss Detail Report
Loan Number			Current		State &				Prior		Realized				Cumulative

&		Loan	Note		LTV at		Original		Principal		Loss/(Gain)		Realized		Realized

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





TOTAL



Page 29 of 31
Morgan Stanley ABS Capital I Inc. 2005-NC1

Mortgage Pass-Through Certificates

2005-NC1

June 27, 2005 Distribution
Triggers and Adj. Cert. Report
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
						60+ Day Rolling Delinquency Percentage								0.90883000
						Class A-2A Accelerated Event Occured (0 = No, 1=Yes)								0
						Ending Balance								1,335,863,476.10
						Prior period Senior Enhancement Percentage								19.8100%
						Class A-2A Accelerated Amortization Amount
						Sequential Trigger Event in effect (0=No , 1=Yes)								0



ADJUSTABLE RATE CERTIFICATE INFORMATION

SPACE INTENTIONALLY LEFT BLANK



ADDITIONAL INFORMATION

										Group 2		Group 1		Total
Basis Risk CarryForward Amount paid														$0.00
Basis Risk CarryForward Amount unpaid														$0.000
Excess Reserve Fund Account Balance														0.00




Page 30 of 31
Morgan Stanley ABS Capital I Inc. 2005-NC1

Mortgage Pass-Through Certificates

2005-NC1

June 27, 2005 Distribution
Other Related Information
ADDITIONAL INFORMATION

										Group 2		Group 1		Total
Current Scheduled Payments										5,629,600.11		3,746,782.66		9,376,382.77
Current Scheduled Payments 1 Month Prior										5,789,729.71		3,874,622.44		9,664,352.15
Current Scheduled Payments 2 Month Prior										5,984,006.82		4,008,845.30		9,992,852.13
Current Scheduled Payments 3 Month Prior										6,091,852.63		4,076,576.66		10,168,429.29
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										104,915.42		60,343.37		165,258.78
Sched. Pmts - 60+Day Delinquent Loans, 1 Month Prior										67,113.25		40,922.89		108,036.14
Sched. Pmts - 60+Day Delinquent Loans, 2 Month Prior										43,014.68		19,054.49		62,069.17
Sched. Pmts - 60+Day Delinquent Loans, 3 Month Prior										1,286.06		1,923.17		3,209.24
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 31 of 31

Morgan Stanley ABS Capital I Inc. Trust 2005-NC1 8-K