
                                    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
             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
     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-NC2

Mortgage Pass-Through Certificates

2005-NC2

June 27, 2005 Distribution

				External Parties						Table of Contents

													Page
				Seller
										1. Certificate Payment Report					2
				Morgan Stanley
										2. Collection Account Report					6

										3. Credit Enhancement Report					8
										4. Collateral Report					9
				Certificate Insurer(s)						5. Delinquency Report					12

										6. REO Report					16

										7. Foreclosure Report					17
										8. Prepayment Report					18
										9. Prepayment Detail Report					21

										10. Realized Loss Report					25
										11. Realized Loss Detail Report					28
				Servicer(s)
										12. Triggers and Adj. Cert. Report					29
				HomeQ Servicing Corp.
										13. Other Related Information					30
				Countrywide Home Loans Srvc LP



				Underwriter(s)
				Morgan Stanley & Co. Inc


										Total Number of Pages					30


				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:			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 30
Morgan Stanley ABS Capital I Inc. 2005-NC2

Mortgage Pass-Through Certificates

2005-NC2

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	SR	$	273,920,000.00		270,685,152.07		817,581.94		8,296,677.12		9,114,259.06		0.00		0.00		262,388,474.95

A-1mz	SR	$	68,481,000.00		67,672,276.21		207,189.95		2,074,199.57		2,281,389.52		0.00		0.00		65,598,076.64
A-2ss	SR	$	235,870,000.00		231,948,915.25		700,582.37		3,753,444.72		4,454,027.09		0.00		0.00		228,195,470.53
A-2mz	SR	$	58,968,000.00		57,987,720.50		177,539.07		938,369.14		1,115,908.21		0.00		0.00		57,049,351.36
A-3a	SR	$	315,000,000.00		295,836,640.93		859,651.97		13,746,097.48		14,605,749.45		0.00		0.00		282,090,543.45
A-3b	SR	$	109,586,000.00		109,586,000.00		328,484.04		0.00		328,484.04		0.00		0.00		109,586,000.00
A-3c	SR	$	92,500,000.00		92,500,000.00		289,139.58		0.00		289,139.58		0.00		0.00		92,500,000.00
A-3mz	SR	$	57,454,000.00		55,324,737.88		169,893.05		1,527,344.16		1,697,237.21		0.00		0.00		53,797,393.72
M-1	MEZ,FLT	$	48,771,000.00		48,771,000.00		155,579.49		0.00		155,579.49		0.00		0.00		48,771,000.00
M-2	MEZ,FLT	$	44,269,000.00		44,269,000.00		142,435.51		0.00		142,435.51		0.00		0.00		44,269,000.00
M-3	MEZ,FLT	$	24,761,000.00		24,761,000.00		80,349.45		0.00		80,349.45		0.00		0.00		24,761,000.00
M-4	MEZ,FLT	$	27,012,000.00		27,012,000.00		91,615.70		0.00		91,615.70		0.00		0.00		27,012,000.00
M-5	MEZ,FLT	$	23,260,000.00		23,260,000.00		79,529.82		0.00		79,529.82		0.00		0.00		23,260,000.00
M-6	MEZ,FLT	$	22,510,000.00		22,510,000.00		77,997.15		0.00		77,997.15		0.00		0.00		22,510,000.00
B-1	SUB, FLT	$	18,758,000.00		18,758,000.00		73,249.99		0.00		73,249.99		0.00		0.00		18,758,000.00
B-2	SUB, FLT	$	17,258,000.00		17,258,000.00		69,449.07		0.00		69,449.07		0.00		0.00		17,258,000.00
B-3	SUB, FLT	$	16,507,000.00		16,507,000.00		73,236.06		0.00		73,236.06		0.00		0.00		16,507,000.00
X	EXE	$	45,770,452.00		45,769,991.29		3,725,770.28		0.00		3,725,770.28		0.00		0.00		45,769,991.29
P	NOF	$	0.00		0.00		486,395.14		0.00		486,395.14		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		1,470,417,434.13		8,605,669.63		30,336,132.19		38,941,801.82		0.00		0.00		1,440,081,301.94






Page 2 of 30
Morgan Stanley ABS Capital I Inc. 2005-NC2

Mortgage Pass-Through Certificates

2005-NC2

June 27, 2005 Distribution

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		61744CPR1		273,920,000.00		988.190538		2.984747		30.288687		33.273434	957.901851
A-1mz	05/25/05		06/26/05		A-Act/360		61744CPA8		68,481,000.00		988.190538		3.025510		30.288687		33.314197	957.901851
A-2ss	05/25/05		06/26/05		A-Act/360		61744CPS9		235,870,000.00		983.376077		2.970205		15.913193		18.883398	967.462884
A-2mz	05/25/05		06/26/05		A-Act/360		61744CPB6		58,968,000.00		983.376077		3.010770		15.913193		18.923962	967.462884
A-3a	05/25/05		06/26/05		A-Act/360		61744CPC4		315,000,000.00		939.163939		2.729054		43.638405		46.367459	895.525535
A-3b	05/25/05		06/26/05		A-Act/360		61744CPD2		109,586,000.00		1,000.000000		2.997500		0.000000		2.997500	1,000.000000
A-3c	05/25/05		06/26/05		A-Act/360		61744CPE0		92,500,000.00		1,000.000000		3.125833		0.000000		3.125833	1,000.000000
A-3mz	05/25/05		06/26/05		A-Act/360		61744CPF7		57,454,000.00		962.939706		2.957027		26.583774		29.540802	936.355932
M-1	05/25/05		06/26/05		A-Act/360		61744CPG5		48,771,000.00		1,000.000000		3.190000		0.000000		3.190000	1,000.000000
M-2	05/25/05		06/26/05		A-Act/360		61744CPH3		44,269,000.00		1,000.000000		3.217500		0.000000		3.217500	1,000.000000
M-3	05/25/05		06/26/05		A-Act/360		61744CPJ9		24,761,000.00		1,000.000000		3.245000		0.000000		3.245000	1,000.000000
M-4	05/25/05		06/26/05		A-Act/360		61744CPK6		27,012,000.00		1,000.000000		3.391667		0.000000		3.391667	1,000.000000
M-5	05/25/05		06/26/05		A-Act/360		61744CPL4		23,260,000.00		1,000.000000		3.419167		0.000000		3.419167	1,000.000000
M-6	05/25/05		06/26/05		A-Act/360		61744CPM2		22,510,000.00		1,000.000000		3.465000		0.000000		3.465000	1,000.000000
B-1	05/25/05		06/26/05		A-Act/360		61744CPN0		18,758,000.00		1,000.000000		3.905000		0.000000		3.905000	1,000.000000
B-2	05/25/05		06/26/05		A-Act/360		61744CPP5		17,258,000.00		1,000.000000		4.024167		0.000000		4.024167	1,000.000000
B-3	05/25/05		06/26/05		A-Act/360		61744CPQ3		16,507,000.00		1,000.000000		4.436667		0.000000		4.436667	1,000.000000
X	05/25/05		06/26/05				45,770,452.00		999.989934		81.401212		0.000000		81.401212		999.989934
P	05/25/05		06/24/05				0.00		0.000000		0.000000		0.000000		0.000000		0.000000
R	05/25/05		06/24/05				0.00		0.000000		0.000000		0.000000		0.000000		0.000000




Page 3 of 30
Morgan Stanley ABS Capital I Inc. 2005-NC2

Mortgage Pass-Through Certificates

2005-NC2

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	273,920,000.00		1,464,367.02		11,132,233.25		399,291.80		11,531,525.05		12,995,892.07		0.00		0.00		262,388,474.95
A-1mz	68,481,000.00		371,114.21		2,783,098.95		99,824.41		2,882,923.36		3,254,037.57		0.00		0.00		65,598,076.64
A-2ss	235,870,000.00		1,257,523.07		7,407,804.93		266,724.54		7,674,529.47		8,932,052.54		0.00		0.00		228,195,470.53
A-2mz	58,968,000.00		318,691.89		1,851,966.94		66,681.70		1,918,648.64		2,237,340.53		0.00		0.00		57,049,351.36
A-3a	315,000,000.00		1,574,998.42		31,764,395.12		1,145,061.43		32,909,456.55		34,484,454.97		0.00		0.00		282,090,543.45
A-3b	109,586,000.00		585,261.94		0.00		0.00		0.00		585,261.94		0.00		0.00		109,586,000.00
A-3c	92,500,000.00		515,234.97		0.00		127,229.05		0.00		515,234.97		0.00		0.00		92,500,000.00
A-3mz	57,454,000.00		307,836.72		3,529,377.24		0.00		3,656,606.28		3,964,443.00		0.00		0.00		53,797,393.72
M-1	48,771,000.00		277,254.84		0.00		0.00		0.00		277,254.84		0.00		0.00		48,771,000.00
M-2	44,269,000.00		253,838.30		0.00		0.00		0.00		253,838.30		0.00		0.00		44,269,000.00
M-3	24,761,000.00		143,196.91		0.00		0.00		0.00		143,196.91		0.00		0.00		24,761,000.00
M-4	27,012,000.00		163,297.95		0.00		0.00		0.00		163,297.95		0.00		0.00		27,012,000.00
M-5	23,260,000.00		141,759.29		0.00		0.00		0.00		141,759.29		0.00		0.00		23,260,000.00
M-6	22,510,000.00		139,032.94		0.00		0.00		0.00		139,032.94		0.00		0.00		22,510,000.00
B-1	18,758,000.00		130,615.02		0.00		0.00		0.00		130,615.02		0.00		0.00		18,758,000.00
B-2	17,258,000.00		123,847.19		0.00		0.00		0.00		123,847.19		0.00		0.00		17,258,000.00
B-3	16,507,000.00		130,631.76		0.00		0.00		0.00		130,631.76		0.00		0.00		16,507,000.00
X	45,770,452.00		8,444,211.02		444.58		16.14		460.71		8,444,671.73		0.00		0.00		45,769,991.29
P	0.00		737,942.78		0.00		0.00		0.00		737,942.78		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		17,080,656.24		58,469,321.01		2,104,829.07		60,574,150.06		77,654,806.30		0.00		0.00		1,440,081,301.94



Page 4 of 30
Morgan Stanley ABS Capital I Inc. 2005-NC2

Mortgage Pass-Through Certificates

2005-NC2

June 27, 2005 Distribution

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	3.29500%		270,685,152.07		817,581.94		0.00		0.00		0.00		817,581.94		817,581.94		0.00
A-1mz	3.34000%		67,672,276.21		207,189.95		0.00		0.00		0.00		207,189.95		207,189.95		0.00
A-2ss	3.29500%		231,948,915.25		700,582.37		0.00		0.00		0.00		700,582.37		700,582.37		0.00
A-2mz	3.34000%		57,987,720.50		177,539.07		0.00		0.00		0.00		177,539.07		177,539.07		0.00
A-3a	3.17000%		295,836,640.93		859,651.97		0.00		0.00		0.00		859,651.97		859,651.97		0.00
A-3b	3.27000%		109,586,000.00		328,484.04		0.00		0.00		0.00		328,484.04		328,484.04		0.00
A-3c	3.41000%		92,500,000.00		289,139.58		0.00		0.00		0.00		289,139.58		289,139.58		0.00
A-3mz	3.35000%		55,324,737.88		169,893.05		0.00		0.00		0.00		169,893.05		169,893.05		0.00
M-1	3.48000%		48,771,000.00		155,579.49		0.00		0.00		0.00		155,579.49		155,579.49		0.00
M-2	3.51000%		44,269,000.00		142,435.51		0.00		0.00		0.00		142,435.51		142,435.51		0.00
M-3	3.54000%		24,761,000.00		80,349.45		0.00		0.00		0.00		80,349.45		80,349.45		0.00
M-4	3.70000%		27,012,000.00		91,615.70		0.00		0.00		0.00		91,615.70		91,615.70		0.00
M-5	3.73000%		23,260,000.00		79,529.82		0.00		0.00		0.00		79,529.82		79,529.82		0.00
M-6	3.78000%		22,510,000.00		77,997.15		0.00		0.00		0.00		77,997.15		77,997.15		0.00
B-1	4.26000%		18,758,000.00		73,249.99		0.00		0.00		0.00		73,249.99		73,249.99		0.00
B-2	4.39000%		17,258,000.00		69,449.07		0.00		0.00		0.00		69,449.07		69,449.07		0.00
B-3	4.84000%		16,507,000.00		73,236.06		0.00		0.00		0.00		73,236.06		73,236.06		0.00
X	88.80222%		45,769,991.29		0.00		0.00		0.00		0.00		0.00		3,725,770.28		0.00
P	0.00000%		0.00		0.00		0.00		0.00		0.00		0.00		486,395.14		0.00
R	0.00000%		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00


Total			1,470,417,434.13		4,393,504.21		0.00		0.00		0.00		4,393,504.21		8,605,669.63		0.00



Page 5 of 30
Morgan Stanley ABS Capital I Inc. 2005-NC2

Mortgage Pass-Through Certificates

2005-NC2

June 27, 2005 Distribution
Collection Account Report
SUMMARY

								Group 3		Group 2		Group 1		Total
Principal Collections								15,273,441.65		4,691,813.86		10,370,876.69		30,336,132.20
Principal Withrawals								0.00		0.00		0.00		0.00
Principal Other Accounts								0.00		0.00		0.00		0.00
TOTAL NET PRINCIPAL								15,273,441.65		4,691,813.86		10,370,876.69		30,336,132.20
Interest Collections								#######		2,035,024.49		2,340,748.02		8,212,320.94
Interest Withdrawals								-0.00		-0.00		-0.00		-0.00
Interest Other Accounts								227,889.94		82,964.51		175,540.69		486,395.14
Interest Fees								-43,621.10		-21,834.02		-27,591.34		-93,046.45
TOTAL NET INTEREST								4,020,817.28		2,096,154.98		2,488,697.37		8,605,669.63
TOTAL AVAILABLE FUNDS FOR DISTRIBUTION								19,294,258.93		6,787,968.84		12,859,574.06		38,941,801.83



PRINCIPAL - COLLECTIONS

									Group 3		Group 2		Group 1		Total
Scheduled Principal Received									478,666.67		283,077.93		283,934.67		1,045,679.27
Prepayments In Full									14,764,470.88		4,397,053.61		9,995,662.03		29,157,186.52
Curtailments									30,304.10		11,682.32		91,279.99		133,266.41
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									-413,635.17		-247,537.63		-243,477.90		-904,650.70
Advanced Principal									413,635.17		247,537.63		243,477.90		904,650.70
TOTAL PRINCIPAL COLLECTED									15,273,441.65		4,691,813.86		10,370,876.69		30,336,132.20


PRINCIPAL - WITHDRAWALS

SPACE INTENTIONALLY LEFT BLANK



PRINCIPAL - OTHER ACCOUNTS

								Group 3		Group 2		Group 1		Total
Closing Deposit								0.00		0.00		0.00		0.00
TOTAL OTHER ACCOUNTS PRINCIPAL								0.00		0.00		0.00		0.00





Page 6 of 30
Morgan Stanley ABS Capital I Inc. 2005-NC2

Mortgage Pass-Through Certificates

2005-NC2

June 27, 2005 Distribution

INTEREST - COLLECTIONS

								Group 3		Group 2		Group 1		Total
Scheduled Interest								4,082,241.24		2,164,183.88		2,489,199.33		8,735,624.45
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								-35,028.54		-9,081.54		-22,250.35		-66,360.43
Compensating Interest								35,028.54		9,081.54		22,250.35		66,360.43
Delinquent Interest								-3,485,177.29		-1,864,876.54		-2,109,826.69		-7,459,880.52
Interest Advanced								3,239,484.48		1,735,717.13		1,961,375.38		6,936,576.99
TOTAL INTEREST COLLECTED								3,836,548.43		2,035,024.49		2,340,748.02		8,212,320.94


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

								Group 3		Group 2		Group 1		Total
Prepayment Charges								227,889.94		82,964.51		175,540.69		486,395.14
TOTAL INTEREST OTHER ACCOUNTS								227,889.94		82,964.51		175,540.69		486,395.14



INTEREST - FEES

								Group 3		Group 2		Group 1		Total
Current Servicing Fees								41,895.57		20,933.46		26,541.38		89,370.41
Current Trustee Fees								1,725.53		900.56		1,049.96		3,676.04
TOTAL INTEREST OTHER FEES								43,621.10		21,834.02		27,591.34		93,046.45




Page 7 of 30
Morgan Stanley ABS Capital I Inc. 2005-NC2

Mortgage Pass-Through Certificates

2005-NC2

June 27, 2005 Distribution
Credit Enhancement Report
ACCOUNTS

								Group 3		Group 2		Group 1		Total
Excess Reserve Fund Account Balance														0.00



INSURANCE

SPACE INTENTIONALLY LEFT BLANK



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														0.00




Page 8 of 30
Morgan Stanley ABS Capital I Inc. 2005-NC2

Mortgage Pass-Through Certificates

2005-NC2

June 27, 2005 Distribution
Collateral Report


COLLATERAL



									Group 3		Group 2		Group 1		Total



Loan Count:


Original								3,255		2,073		2,542		7,870
Prior								3,224		2,051		2,528		7,803
Prefunding								0		0		0		0
Scheduled Paid Offs								-0		-0		-0		-0
Full Voluntary Prepayments								-56		-23		-45		-124
Repurchases								-0		-0		-0		-0
Liquidations								-0		-0		-0		-0
Current								3,168		2,028		2,483		7,679
Principal Balance:


Original								699,214,488.70		365,124,050.84		424,025,894.50		1,488,364,434.04
Prior								690,212,107.40		360,222,862.78		419,982,463.95		1,470,417,434.13
Prefunding								0.00		0.00		0.00		1,500,655,452.00
Scheduled Principal								-478,666.67		-283,077.93		-283,934.67		-1,045,679.27
Partial Prepayments								-30,304.10		-11,682.32		-91,279.99		-133,266.41
Full Voluntary Prepayments								-14,764,470.88		-4,397,053.61		-9,995,662.03		-29,157,186.52
Repurchases								-0.00		-0.00		-0.00		-0.00
Liquidations								-0.00		-0.00		-0.00		-0.00
Current								674,938,665.75		355,531,048.92		409,611,587.26		1,440,081,301.93





PREFUNDING

								Group 3		Group 2		Group 1		Total
closing Date Deposit Amount								0.00		0.00		0.00		0.00
Total Original Principal Balance								0.00		0.00		0.00		1,500,655,452.00






Page 9 of 30
Morgan Stanley ABS Capital I Inc. 2005-NC2

Mortgage Pass-Through Certificates

2005-NC2

June 27, 2005 Distribution

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								7.09737%		7.20948%		7.11244%		7.12914%
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								351		351		349		350
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								351		351		349		350
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								5.13		5.04		5.31		5.16









Page 10 of 30
Morgan Stanley ABS Capital I Inc. 2005-NC2

Mortgage Pass-Through Certificates

2005-NC2

June 27, 2005 Distribution

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								5.64693%		5.65210%		5.62543%		5.64211%
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								14.10962%		14.19908%		14.03235%		14.10913%
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								7.11254%		7.20326%		7.03583%		7.11251%
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%		1.49791%		1.50165%		1.49997%
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%		1.49791%		1.50165%		1.49997%




SERVICING FEES & ADVANCES

									Group 3		Group 2		Group 1		Total




Current Servicing Fees								41,895.57		20,933.46		26,541.38		89,370.41
Delinquent Servicing Fees								245,692.81		129,159.40		148,451.32		523,303.53
TOTAL SERVICING FEES								287,588.39		150,092.86		174,992.70		612,673.95


Compensating Interest								-35,028.54		-9,081.54		-22,250.35		-66,360.43
Delinquent Servicing Fees								-245,692.81		-129,159.40		-148,451.32		-523,303.53
COLLECTED SERVICING FEES								-6,867.03		-11,851.92		-4,291.04		-23,009.99


Aggregate Advances with respect to this Distribution								3,653,119.65		1,983,254.77		2,204,853.28		7,841,227.70





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														3.090000%
Libor For Next Period														0.000000%




Page 11 of 30
Morgan Stanley ABS Capital I Inc. 2005-NC2

Mortgage Pass-Through Certificates

2005-NC2

June 27, 2005 Distribution
Delinquency Report

	TOTAL
					< 1 PAYMENT		1 PAYMENT		2 PAYMENTS		3+ PAYMENTS		TOTAL
	DELINQUENT		Balance				22,455,948.60		1,657,718.99		0.00		24,113,667.59
			% Balance				1.56%		0.12%		0.00%		1.67%
			# Loans				127		7		0		134
			% # Loans				1.65%		0.09%		0.00%		1.75%
	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		56,378.89		0.00		0.00		0.00		56,378.89
			% 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		56,378.89		22,455,948.60		1,657,718.99		0.00		24,170,046.48
			% Balance		0.00%		1.56%		0.12%		0.00%		1.68%
			# Loans		1		127		7		0		135
			% # Loans		0.01%		1.65%		0.09%		0.00%		1.76%









Page 12 of 30
Morgan Stanley ABS Capital I Inc. 2005-NC2

Mortgage Pass-Through Certificates

2005-NC2

June 27, 2005 Distribution


	GROUP 1
					< 1 PAYMENT		1 PAYMENT		2 PAYMENTS		3+ PAYMENTS		TOTAL
	DELINQUENT		Balance				5,985,912.85		984,233.73		0.00		6,970,146.58
			% Balance				1.46%		0.24%		0.00%		1.70%
			# Loans				38		4		0		42
			% # Loans				1.53%		0.16%		0.00%		1.69%
	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		5,985,912.85		984,233.73		0.00		6,970,146.58
			% Balance		0.00%		1.46%		0.24%		0.00%		1.70%
			# Loans		0		38		4		0		42
			% # Loans		0.00%		1.53%		0.16%		0.00%		1.69%










Page 13 of 30
Morgan Stanley ABS Capital I Inc. 2005-NC2

Mortgage Pass-Through Certificates

2005-NC2

June 27, 2005 Distribution

	GROUP 2
					< 1 PAYMENT		1 PAYMENT		2 PAYMENTS		3+ PAYMENTS		TOTAL
	DELINQUENT		Balance				5,937,769.13		151,229.62		0.00		6,088,998.75
			% Balance				1.67%		0.04%		0.00%		1.71%
			# Loans				35		1		0		36
			% # Loans				1.73%		0.05%		0.00%		1.78%
	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		5,937,769.13		151,229.62		0.00		6,088,998.75
			% Balance		0.00%		1.67%		0.04%		0.00%		1.71%
			# Loans		0		35		1		0		36
			% # Loans		0.00%		1.73%		0.05%		0.00%		1.78%










Page 14 of 30
Morgan Stanley ABS Capital I Inc. 2005-NC2

Mortgage Pass-Through Certificates

2005-NC2

June 27, 2005 Distribution

	GROUP 3
					< 1 PAYMENT		1 PAYMENT		2 PAYMENTS		3+ PAYMENTS		TOTAL
	DELINQUENT		Balance				10,532,266.62		522,255.64		0.00		11,054,522.26
			% Balance				1.56%		0.08%		0.00%		1.64%
			# Loans				54		2		0		56
			% # Loans				1.70%		0.06%		0.00%		1.77%
	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		56,378.89		0.00		0.00		0.00		56,378.89
			% 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		56,378.89		10,532,266.62		522,255.64		0.00		11,110,901.15
			% Balance		0.01%		1.56%		0.08%		0.00%		1.65%
			# Loans		1		54		2		0		57
			% # Loans		0.03%		1.70%		0.06%		0.00%		1.80%









Page 15 of 30
Morgan Stanley ABS Capital I Inc. 2005-NC2

Mortgage Pass-Through Certificates

2005-NC2

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 16 of 30
Morgan Stanley ABS Capital I Inc. 2005-NC2

Mortgage Pass-Through Certificates

2005-NC2

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




TOTAL



Page 17 of 30
Morgan Stanley ABS Capital I Inc. 2005-NC2

Mortgage Pass-Through Certificates

2005-NC2

June 27, 2005 Distribution
Prepayment Report

VOLUNTARY PREPAYMENTS


									Group 3		Group 2		Group 1		Total




Current


Number of Paid in Full Loans								56		23		45		124
Number of Repurchased Loans								0		0		0		0
Total Number of Loans Prepaid in Full								56		23		45		124
Curtailments Amount								30,304.10		11,682.32		91,279.99		133,266.41
Paid in Full Balance								14,764,470.88		4,397,053.61		9,995,662.03		29,157,186.52
Repurchased Loans Balance								0.00		0.00		0.00		0.00
Total Prepayment Amount								14,794,774.98		4,408,735.93		10,086,942.02		29,290,452.93

Cumulative


Number of Paid in Full Loans								87		45		59		191
Number of Repurchased Loans								0		0		0		0
Total Number of Loans Prepaid in Full								87		45		59		191
Paid in Full Balance								23,250,458.35		8,999,877.23		13,733,508.28		45,983,843.86
Repurchased Loans Balance								0.00		0.00		0.00		0.00
Curtailments Amount								61,037.50		25,506.16		107,915.53		194,459.19
Total Prepayment Amount								23,311,495.85		9,025,383.39		13,841,423.81		46,178,303.05










Page 18 of 30
Morgan Stanley ABS Capital I Inc. 2005-NC2

Mortgage Pass-Through Certificates

2005-NC2

June 27, 2005 Distribution

VOLUNTARY PREPAYMENTS RATES


									Group 3		Group 2		Group 1		Total



SMM								2.15%		1.22%		2.40%		1.99%
3 Months Avg SMM								1.68%		1.25%		1.65%		1.57%
12 Months Avg SMM								1.68%		1.25%		1.65%		1.57%
Avg SMM Since Cut-off								1.68%		1.25%		1.65%		1.57%


CPR								22.91%		13.75%		25.32%		21.46%
3 Months Avg CPR								18.43%		13.96%		18.07%		17.25%
12 Months Avg CPR								18.43%		13.96%		18.07%		17.25%
Avg CPR Since Cut-off								18.43%		13.96%		18.07%		17.25%


PSA								2,231.76%		1,363.50%		2,381.93%		2,079.18%
3 Months Avg PSA Approximation								1,987.74%		1,537.25%		1,877.66%		1,849.65%
12 Months Avg PSA Approximation								1,987.74%		1,537.25%		1,877.66%		1,849.65%
Avg PSA Since Cut-off Approximation								1,987.74%		1,537.25%		1,877.66%		1,849.65%










Page 19 of 30
Morgan Stanley ABS Capital I Inc. 2005-NC2

Mortgage Pass-Through Certificates

2005-NC2

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 20 of 30
Morgan Stanley ABS Capital I Inc. 2005-NC2

Mortgage Pass-Through Certificates

2005-NC2

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

1810094 3			175,500.00		174,643.32			26-May-2005		6.800%		DC - 90.00%		Paid Off - 360		01-Jan-2005


1830645 3			41,300.00		40,896.52			06-Jun-2005		9.750%		CA - 20.00%		Paid Off - 240		01-Nov-2004

1854630 3			48,000.00		47,439.26			31-May-2005		11.200%		NC - 20.00%		Paid Off - 240		01-Nov-2004

1886517 2			160,000.00		159,314.19			31-May-2005		5.650%		CA - 80.00%		Paid Off - 360		01-Feb-2005

1897740 3			468,000.00		465,945.31			16-May-2005		7.650%		CA - 90.00%		Paid Off - 360		01-Dec-2004

1900865 3			250,000.00		248,576.78			20-May-2005		6.475%		NV - 69.44%		Paid Off - 360		01-Dec-2004

1902303 1			154,500.00		153,851.10			20-May-2005		6.975%		MD - 70.87%		Paid Off - 360		01-Jan-2005

1916415 2			280,457.00		279,898.58			20-May-2005		9.500%		CA - 85.00%		Paid Off - 360		01-Feb-2005

1919771 3			63,750.00		63,577.04			16-May-2005		8.200%		KS - 85.00%		Paid Off - 360		01-Feb-2005

1923399 3			156,000.00		155,100.23			13-May-2005		6.250%		CA - 80.00%		Paid Off - 360		01-Dec-2004

1924954 3			387,000.00		387,000.00			16-May-2005		7.925%		CA - 90.00%		Paid Off - 360		01-Dec-2004

1927439 1			362,000.00		360,598.79			20-May-2005		7.350%		CA - 67.66%		Paid Off - 360		01-Jan-2005

1935549 1			312,000.00		301,249.08			13-May-2005		7.500%		CA - 80.00%		Paid Off - 360		01-Dec-2004

1945317 3			117,000.00		116,676.34			26-May-2005		7.900%		CT - 90.00%		Paid Off - 360		01-Feb-2005

1953134 2			100,300.00		100,044.07			19-May-2005		9.400%		MI - 85.00%		Paid Off - 360		01-Jan-2005

1953813 1			333,000.00		331,616.46			18-May-2005		6.990%		CA - 90.00%		Paid Off - 360		01-Jan-2005

1957754 1			174,500.00		173,729.17			13-May-2005		6.675%		NJ - 50.58%		Paid Off - 360		01-Jan-2005

1966839 1			357,000.00		355,875.89			13-May-2005		7.250%		TN - 85.00%		Paid Off - 360		01-Feb-2005

1966948 1			352,250.00		350,479.02			27-May-2005		6.000%		CA - 89.86%		Paid Off - 360		01-Jan-2005

1974481 1			180,000.00		179,360.02			26-May-2005		7.150%		IL - 60.00%		Paid Off - 360		01-Feb-2005

1979856 1			136,000.00		135,540.71			26-May-2005		8.050%		CA - 80.00%		Paid Off - 360		01-Jan-2005

1980874 3			161,000.00		160,447.09			26-May-2005		7.950%		FL - 74.88%		Paid Off - 360		01-Jan-2005

1983132 1			113,050.00		112,679.71			31-May-2005		7.050%		AZ - 80.00%		Paid Off - 360		01-Feb-2005

1991817 3			153,000.00		152,550.56			31-May-2005		7.600%		NJ - 90.00%		Paid Off - 360		01-Feb-2005

1991833 1			232,500.00		231,837.22			13-May-2005		7.750%		CA - 75.00%		Paid Off - 360		01-Feb-2005

1992909 1			245,000.00		245,000.00			13-May-2005		5.050%		CA - 83.05%		Paid Off - 360		01-Feb-2005

1994887 3			109,650.00		109,295.29			24-May-2005		8.200%		MI - 85.00%		Paid Off - 360		01-Feb-2005

1996552 3			71,875.00		71,615.48			13-May-2005		6.550%		PA - 57.50%		Paid Off - 360		01-Feb-2005

1996784 1			371,000.00		369,258.77			18-May-2005		6.550%		IL - 80.65%		Paid Off - 360		01-Feb-2005

2000486 1			199,500.00		198,684.27			13-May-2005		5.900%		CA - 70.00%		Paid Off - 360		01-Feb-2005

1000049860 3			88,000.00		87,689.66			19-May-2005		9.500%		CA - 20.00%		Paid Off - 360		01-Nov-2004

1000092893 3			459,000.00		456,402.68			18-May-2005		6.350%		CA - 90.00%		Paid Off - 360		01-Dec-2004

1000135838 3			262,400.00		261,641.91			13-May-2005		8.800%		MA - 80.00%		Paid Off - 360		01-Jan-2005

1000171307 3			232,000.00		231,401.83			20-May-2005		9.350%		FL - 80.00%		Paid Off - 360		01-Jan-2005

1000185025 3			147,600.00		146,966.70			16-May-2005		6.825%		FL - 90.00%		Paid Off - 360		01-Jan-2005

1000186257 3			61,200.00		61,023.18			13-May-2005		8.800%		OH - 80.00%		Paid Off - 360		01-Jan-2005

1000187096 1			350,000.00		349,165.78			17-May-2005		9.725%		MA - 76.92%		Paid Off - 360		01-Jan-2005




Page 21 of 30
Morgan Stanley ABS Capital I Inc. 2005-NC2

Mortgage Pass-Through Certificates

2005-NC2

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

1000236079 1			279,000.00		278,121.47			31-May-2005		7.250%		CA - 90.00%		Paid Off - 360		01-Feb-2005


1000242268 1			280,500.00		279,487.23			13-May-2005		6.550%		MD - 83.73%		Paid Off - 360		01-Feb-2005

1000249430 1			196,000.00		195,060.37			13-May-2005		6.250%		CA - 80.00%		Paid Off - 360		01-Jan-2005

1000252470 2			199,750.00		199,127.21			17-May-2005		7.300%		CA - 85.00%		Paid Off - 360		01-Feb-2005

1000257509 1			255,000.00		254,406.70			13-May-2005		8.750%		NV - 85.00%		Paid Off - 360		01-Feb-2005

1000265215 3			135,000.00		134,611.28			13-May-2005		7.700%		FL - 90.00%		Paid Off - 360		01-Feb-2005

1000273607 3			696,000.00		692,709.72			16-May-2005		6.750%		CA - 79.54%		Paid Off - 360		01-Jan-2005

1000276579 3			380,000.00		378,560.32			27-May-2005		6.300%		CA - 80.00%		Paid Off - 360		01-Feb-2005

1000279139 3			300,000.00		298,655.40			17-May-2005		6.600%		FL - 81.08%		Paid Off - 360		01-Jan-2005

1000282278 3			293,250.00		292,113.91			13-May-2005		7.150%		MD - 85.00%		Paid Off - 360		01-Feb-2005

1000283525 3			438,000.00		436,239.21			13-May-2005		5.990%		CA - 78.21%		Paid Off - 360		01-Feb-2005

1000283838 2			240,300.00		239,423.99			16-May-2005		6.500%		CA - 90.00%		Paid Off - 360		01-Feb-2005

1000285863 1			141,600.00		141,162.85			25-May-2005		7.350%		MI - 80.00%		Paid Off - 360		01-Feb-2005

1000289477 3			342,000.00		340,923.10			17-May-2005		7.250%		NJ - 90.00%		Paid Off - 360		01-Feb-2005

1000294247 1			208,800.00		208,733.03			13-May-2005		7.650%		CA - 90.00%		Paid Off - 360		01-Feb-2005

1000297379 3			527,800.00		526,138.05			31-May-2005		7.250%		NV - 70.00%		Paid Off - 360		01-Feb-2005

1000302997 1			205,000.00		204,174.41			13-May-2005		6.990%		CA - 67.21%		Paid Off - 360		01-Feb-2005

1000303772 1			210,560.00		209,909.97			13-May-2005		7.350%		CA - 80.00%		Paid Off - 360		01-Feb-2005

1000310498 2			147,600.00		147,247.56			13-May-2005		8.750%		AR - 90.00%		Paid Off - 360		01-Feb-2005

1000319097 1			262,000.00		261,088.69			20-May-2005		6.750%		CA - 70.62%		Paid Off - 360		01-Feb-2005

1000320245 1			168,000.00		168,000.00			13-May-2005		5.650%		CA - 68.57%		Paid Off - 360		01-Feb-2005

1000328318 3			69,300.00		69,128.52			24-May-2005		8.450%		AL - 70.00%		Paid Off - 360		01-Feb-2005

1000338414 1			167,200.00		166,838.12			16-May-2005		9.100%		OH - 80.00%		Paid Off - 360		01-Feb-2005

1000339752 2			94,050.00		93,814.90			13-May-2005		8.400%		SC - 90.00%		Paid Off - 360		01-Feb-2005

1000341605 1			207,000.00		206,406.03			16-May-2005		7.825%		IL - 88.09%		Paid Off - 360		01-Feb-2005

1000341785 2			199,500.00		199,006.38			24-May-2005		8.450%		PA - 95.00%		Paid Off - 360		01-Feb-2005

1000342105 3			500,000.00		500,000.00			19-May-2005		7.650%		CA - 89.93%		Paid Off - 360		01-Feb-2005

1000347869 1			313,200.00		313,200.00			18-May-2005		7.050%		CA - 80.00%		Paid Off - 360		01-Feb-2005

1000348332 1			107,910.00		107,653.68			19-May-2005		8.650%		FL - 90.00%		Paid Off - 360		01-Feb-2005

1000352825 1			188,000.00		187,474.72			13-May-2005		7.850%		ME - 80.00%		Paid Off - 360		01-Feb-2005

1000357027 3			164,000.00		163,573.04			19-May-2005		8.200%		NJ - 80.00%		Paid Off - 360		01-Feb-2005

1000364661 1			99,000.00		98,748.69			16-May-2005		8.325%		ID - 90.00%		Paid Off - 360		01-Feb-2005

1000365474 2			215,600.00		214,751.35			25-May-2005		6.100%		CA - 74.34%		Paid Off - 360		01-Feb-2005

1000371350 3			78,300.00		78,074.54			16-May-2005		7.700%		MD - 90.00%		Paid Off - 360		01-Feb-2005

1000378601 2			231,200.00		230,114.42			27-May-2005		6.250%		CA - 80.00%		Paid Off - 360		01-Feb-2005

1000380402 2			229,500.00		228,932.12			23-May-2005		8.450%		OR - 90.00%		Paid Off - 360		01-Feb-2005

1000380652 3			80,750.00		80,535.44			24-May-2005		8.100%		IA - 84.11%		Paid Off - 360		01-Feb-2005

1000383775 3			365,000.00		363,603.82			27-May-2005		6.250%		CA - 71.57%		Paid Off - 360		01-Feb-2005




Page 22 of 30
Morgan Stanley ABS Capital I Inc. 2005-NC2

Mortgage Pass-Through Certificates

2005-NC2

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

1000384970 3			441,000.00		439,526.97			13-May-2005		6.950%		CA - 90.00%		Paid Off - 360		01-Feb-2005


1000389706 3			550,050.00		550,050.00			13-May-2005		7.600%		CA - 95.00%		Paid Off - 360		01-Feb-2005

1000389742 1			196,000.00		195,338.89			26-May-2005		6.900%		CA - 64.69%		Paid Off - 360		01-Feb-2005

1000393773 3			462,000.00		461,040.84			19-May-2005		9.300%		CA - 100.00%		Paid Off - 360		01-Feb-2005

1000401032 1			299,000.00		298,998.99			18-May-2005		6.600%		CA - 65.00%		Paid Off - 360		01-Feb-2005

1000411860 3			265,500.00		264,779.37			24-May-2005		8.200%		MI - 90.00%		Paid Off - 360		01-Feb-2005

1000423642 3			258,400.00		257,687.49			13-May-2005		7.925%		NC - 95.00%		Paid Off - 360		01-Feb-2005

1000424516 2			251,600.00		250,933.00			27-May-2005		8.900%		VA - 85.00%		Paid Off - 360		01-Feb-2005

1000424678 3			152,800.00		152,115.92			17-May-2005		6.850%		NH - 80.00%		Paid Off - 360		01-Feb-2005

1000426195 3			187,500.00		186,921.15			27-May-2005		7.350%		NJ - 75.00%		Paid Off - 360		01-Feb-2005

1000435201 1			169,000.00		168,480.83			31-May-2005		7.375%		CA - 65.00%		Paid Off - 360		01-Feb-2005

1000436674 3			415,000.00		413,487.07			17-May-2005		6.500%		OR - 79.96%		Paid Off - 360		01-Feb-2005

1000437272 1			283,000.00		281,917.49			19-May-2005		6.250%		CA - 73.51%		Paid Off - 360		01-Feb-2005

1000442131 2			235,000.00		234,447.45			16-May-2005		8.713%		CA - 100.00%		Paid Off - 360		01-Feb-2005

1000444415 1			141,600.00		141,020.98			20-May-2005		5.900%		MN - 80.00%		Paid Off - 360		01-Feb-2005

1000447010 3			369,750.00		368,574.18			24-May-2005		7.200%		CA - 85.00%		Paid Off - 360		01-Feb-2005

1000447804 3			124,800.00		124,395.23			27-May-2005		7.100%		AK - 80.00%		Paid Off - 360		01-Feb-2005

1000448714 2			333,700.00		332,628.29			13-May-2005		7.150%		CA - 69.52%		Paid Off - 360		01-Feb-2005

1000448947 3			125,800.00		125,378.81			24-May-2005		6.938%		WI - 85.00%		Paid Off - 360		01-Feb-2005

1000453011 1			31,200.00		30,931.81			27-May-2005		11.400%		AK - 20.00%		Paid Off - 180		01-Feb-2005

1000464875 1			74,250.00		74,089.27			13-May-2005		9.100%		VA - 90.00%		Paid Off - 360		01-Feb-2005

1000469326 3			423,000.00		421,732.46			17-May-2005		7.500%		CA - 89.05%		Paid Off - 360		01-Feb-2005

1000474999 2			88,900.00		88,782.28			25-May-2005		10.050%		FL - 70.00%		Paid Off - 360		01-Mar-2005

1000480198 2			165,000.00		164,600.03			13-May-2005		8.550%		CA - 64.45%		Paid Off - 360		01-Feb-2005

1000480205 3			522,000.00		520,554.71			13-May-2005		7.900%		CA - 90.00%		Paid Off - 360		01-Feb-2005

1000505037 2			308,000.00		307,230.12			31-May-2005		8.400%		MA - 80.00%		Paid Off - 360		01-Feb-2005

1000507589 2			114,300.00		114,026.36			27-May-2005		8.700%		OR - 90.00%		Paid Off - 360		01-Feb-2005

1000527157 3			365,500.00		364,393.81			13-May-2005		7.450%		CA - 85.00%		Paid Off - 360		01-Feb-2005

1000539821 1			300,266.00		299,133.81			17-May-2005		6.325%		CA - 89.90%		Paid Off - 360		01-Feb-2005

1000550148 2			55,980.00		55,858.82			13-May-2005		9.100%		TX - 90.00%		Paid Off - 360		01-Feb-2005

1000551593 1			270,000.00		270,000.00			31-May-2005		7.300%		CA - 90.00%		Paid Off - 360		01-Feb-2005

1000555143 1			147,200.00		146,698.60			31-May-2005		6.850%		AZ - 80.00%		Paid Off - 360		01-Feb-2005

1000564106 2			323,100.00		322,157.60			20-May-2005		6.150%		CA - 90.00%		Paid Off - 360		01-Mar-2005

1000565515 3			217,500.00		216,879.98			26-May-2005		7.750%		MD - 75.00%		Paid Off - 360		01-Feb-2005

1000568825 2			75,100.00		75,011.57			31-May-2005		10.600%		OH - 60.08%		Paid Off - 360		01-Mar-2005

1000571599 3			123,000.00		122,689.40			19-May-2005		8.350%		NY - 69.89%		Paid Off - 360		01-Feb-2005

1000573203 3			225,000.00		224,574.26			18-May-2005		9.750%		NJ - 75.00%		Paid Off - 360		01-Feb-2005

1000575826 3			365,000.00		364,999.96			13-May-2005		6.125%		CA - 73.00%		Paid Off - 360		01-Feb-2005




Page 23 of 30
Morgan Stanley ABS Capital I Inc. 2005-NC2

Mortgage Pass-Through Certificates

2005-NC2

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

1000578734 1			420,000.00		419,030.51			25-May-2005		7.350%		MA - 72.41%		Paid Off - 360		01-Mar-2005


1000579779 3			343,384.00		342,245.99			13-May-2005		6.990%		CA - 80.00%		Paid Off - 360		01-Feb-2005

1000583096 3			135,000.00		134,644.95			17-May-2005		8.150%		IL - 75.00%		Paid Off - 360		01-Feb-2005

1000586093 3			350,600.00		350,599.29			27-May-2005		8.400%		CA - 89.99%		Paid Off - 360		01-Feb-2005

1000588162 1			135,000.00		134,662.52			18-May-2005		8.400%		OH - 90.00%		Paid Off - 360		01-Feb-2005

1000602841 1			115,500.00		115,266.38			19-May-2005		9.425%		NC - 100.00%		Paid Off - 360		01-Feb-2005

1000603243 2			207,000.00		206,223.25			24-May-2005		6.350%		FL - 90.00%		Paid Off - 360		01-Feb-2005

1000606883 3			131,000.00		130,640.54			13-May-2005		7.940%		PA - 72.78%		Paid Off - 360		01-Feb-2005

1000615793 2			153,725.00		153,480.07			13-May-2005		10.550%		FL - 65.00%		Paid Off - 360		01-Feb-2005

1000636182 1			290,700.00		290,700.00			25-May-2005		6.990%		VA - 85.00%		Paid Off - 360		01-Mar-2005

1000658345 3			432,803.00		432,802.97			20-May-2005		8.700%		CA - 90.00%		Paid Off - 360		01-Mar-2005



TOTAL			29,251,510.00		29,157,186.52



Page 24 of 30
Morgan Stanley ABS Capital I Inc. 2005-NC2

Mortgage Pass-Through Certificates

2005-NC2

June 27, 2005 Distribution
Realized Loss Report

COLLATERAL REALIZED LOSSES



									Group 3		Group 2		Group 1		Total


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




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 25 of 30
Morgan Stanley ABS Capital I Inc. 2005-NC2

Mortgage Pass-Through Certificates

2005-NC2

June 27, 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 26 of 30
Morgan Stanley ABS Capital I Inc. 2005-NC2

Mortgage Pass-Through Certificates

2005-NC2

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 27 of 30
Morgan Stanley ABS Capital I Inc. 2005-NC2

Mortgage Pass-Through Certificates

2005-NC2

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 28 of 30
Morgan Stanley ABS Capital I Inc. 2005-NC2

Mortgage Pass-Through Certificates

2005-NC2

June 27, 2005 Distribution
Triggers and Adj. Cert. Report
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								828,859.50
						Ending Balance								1,440,081,301.93
						Prior Period Senior Enhancement Percentage								19.6458%



ADJUSTABLE RATE CERTIFICATE INFORMATION

SPACE INTENTIONALLY LEFT BLANK



ADDITIONAL INFORMATION

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




Page 29 of 30
Morgan Stanley ABS Capital I Inc. 2005-NC2

Mortgage Pass-Through Certificates

2005-NC2

June 27, 2005 Distribution
Other Related Information
ADDITIONAL INFORMATION

								Group 3		Group 2		Group 1		Total
Current Scheduled Payments														9,781,303.73
Current Scheduled Payments 1 Month Prior														9,906,492.25
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 30 of 30

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