                                    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
                     January 1, 2005, providing for the issuance of Morgan Stanley
          Home Equity Loan Trust, Mortgage Pass-Through Certificates Series 2005-1)
                      (Exact name of registrant as specified in charter)


                                         DELAWARE
                     (State or Other Jurisdiction of Incorporation)

               333-113543-24                        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 Home Equity Loan Trust, Mortgage Pass-Through Certificates Series 2005-1,
     which was made on January 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 Home Equity Loan Trust 2005-1

Mortgage Pass-Through Certificates

2005-1

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					23
										11. Realized Loss Detail Report					26
				Servicer(s)
										12. Triggers and Adj. Cert. Report					27
				Chase Securities, Inc
										13. Other Related Information					28
				HomeQ Servicing Corp.



				Underwriter(s)
				Morgan Stanley
				Utendahl Capital Partners, L.P.


										Total Number of Pages					28


				Dates						Contacts

				Cut-Off Date:			January 01, 2005			Marion Hogan
				Close Date:			January 28, 2005			Administrator
				First Distribution Date:			February 25, 2005			(714) 247-6282
										marion.c.hogan@db.com

										Address:
										1761 East St. Andrew Place, Santa Ana, CA 92705
				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 28
Morgan Stanley Home Equity Loan Trust 2005-1

Mortgage Pass-Through Certificates

2005-1

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/STP/WAC	$	293,823,000.00		269,135,351.03		828,936.88		8,036,437.78		8,865,374.66		0.00		0.00		261,098,913.25

A-1MZ	FLT/STP/WAC	$	73,456,000.00		67,284,066.74		208,468.47		2,009,116.28		2,217,584.75		0.00		0.00		65,274,950.46
A-2A	FLT/STP/WAC	$	161,866,000.00		122,392,592.95		360,140.20		11,581,324.50		11,941,464.70		0.00		0.00		110,811,268.45
A-2B	FLT/STP/WAC	$	180,000,000.00		180,000,000.00		544,500.00		0.00		544,500.00		0.00		0.00		180,000,000.00
A-2C	FLT/STP/WAC	$	35,000,000.00		35,000,000.00		110,366.67		0.00		110,366.67		0.00		0.00		35,000,000.00
M-1	SUB/FLT/WAC	$	30,569,000.00		30,569,000.00		99,196.41		0.00		99,196.41		0.00		0.00		30,569,000.00
M-2	SUB/FLT/WAC	$	27,831,000.00		27,831,000.00		90,821.83		0.00		90,821.83		0.00		0.00		27,831,000.00
M-3	SUB/FLT/WAC	$	17,794,000.00		17,794,000.00		58,883.31		0.00		58,883.31		0.00		0.00		17,794,000.00
M-4	SUB/FLT/WAC	$	15,512,000.00		15,512,000.00		53,891.27		0.00		53,891.27		0.00		0.00		15,512,000.00
M-5	SUB/FLT/WAC	$	14,600,000.00		14,600,000.00		51,392.00		0.00		51,392.00		0.00		0.00		14,600,000.00
M-6	SUB/FLT/WAC	$	13,232,000.00		13,232,000.00		47,789.57		0.00		47,789.57		0.00		0.00		13,232,000.00
B-1	SUB/FLT/WAC	$	11,862,000.00		11,862,000.00		47,734.67		0.00		47,734.67		0.00		0.00		11,862,000.00
B-2	SUB/FLT/WAC	$	7,756,000.00		7,756,000.00		32,064.60		0.00		32,064.60		0.00		0.00		7,756,000.00
B-3	SUB/FLT/WAC	$	9,126,000.00		9,126,000.00		45,090.05		0.00		45,090.05		0.00		0.00		9,126,000.00
X	SUB/FLT/WAC	$	20,075,053.00		20,075,045.17		2,185,504.45		0.00		2,185,504.45		0.00		0.00		20,075,045.17
UT-R	RES	$	0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00
P	EXE	$	0.00		0.00		524,099.76		0.00		524,099.76		0.00		0.00		0.00

Total			912,502,053.00		842,169,055.89		5,288,880.14		21,626,878.56		26,915,758.70		0.00		0.00		820,542,177.33





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		61744CKZ8		293,823,000.00		915.977820		2.821212		27.351289		30.172501	888.626531
A-1MZ	05/25/05		06/26/05		A-Act/360		61744CLA2		73,456,000.00		915.977820		2.838005		27.351289		30.189294	888.626531
A-2A	05/25/05		06/26/05		A-Act/360		61744CLB0		161,866,000.00		756.135278		2.224928		71.548840		73.773768	684.586438
A-2B	05/25/05		06/26/05		A-Act/360		61744CLC8		180,000,000.00		1,000.000000		3.025000		0.000000		3.025000	1,000.000000
A-2C	05/25/05		06/26/05		A-Act/360		61744CLD6		35,000,000.00		1,000.000000		3.153333		0.000000		3.153333	1,000.000000
M-1	05/25/05		06/26/05		A-Act/360		61744CLE4		30,569,000.00		1,000.000000		3.245000		0.000000		3.245000	1,000.000000
M-2	05/25/05		06/26/05		A-Act/360		61744CLF1		27,831,000.00		1,000.000000		3.263333		0.000000		3.263333	1,000.000000
M-3	05/25/05		06/26/05		A-Act/360		61744CLG9		17,794,000.00		1,000.000000		3.309167		0.000000		3.309167	1,000.000000
M-4	05/25/05		06/26/05		A-Act/360		61744CLH7		15,512,000.00		1,000.000000		3.474166		0.000000		3.474166	1,000.000000
M-5	05/25/05		06/26/05		A-Act/360		61744CLJ3		14,600,000.00		1,000.000000		3.520000		0.000000		3.520000	1,000.000000
M-6	05/25/05		06/26/05		A-Act/360		61744CLK0		13,232,000.00		1,000.000000		3.611666		0.000000		3.611666	1,000.000000
B-1	05/25/05		06/26/05		A-Act/360		61744CLL8		11,862,000.00		1,000.000000		4.024167		0.000000		4.024167	1,000.000000
B-2	05/25/05		06/26/05		A-Act/360		61744CLM6		7,756,000.00		1,000.000000		4.134167		0.000000		4.134167	1,000.000000
B-3	05/25/05		06/26/05		A-Act/360		61744CLN4		9,126,000.00		1,000.000000		4.940834		0.000000		4.940834	1,000.000000
X	05/25/05		06/26/05		A-Act/360		MS05X1101		20,075,053.00		999.999610		108.866684		0.000000		108.866684	999.999610
UT-R	05/25/05		06/24/05		A-30/360		MS05X1103		0.00		0.000000		0.000000		0.000000		0.000000	0.000000
P	05/25/05		06/24/05		A-30/360		MS05X1102		0.00		0.000000		0.000000		0.000000		0.000000	0.000000



Page 2 of 28
Morgan Stanley Home Equity Loan Trust 2005-1

Mortgage Pass-Through Certificates

2005-1

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	293,823,000.00		3,657,920.93		31,823,383.93		900,702.82		32,724,086.75		36,382,007.68		0.00		0.00		261,098,913.25
A-1MZ	73,456,000.00		920,366.53		7,955,873.06		225,176.47		8,181,049.54		9,101,416.07		0.00		0.00		65,274,950.46
A-2A	161,866,000.00		1,748,038.97		49,631,575.74		1,423,155.81		51,054,731.55		52,802,770.52		0.00		0.00		110,811,268.45
A-2B	180,000,000.00		2,291,325.00		0.00		0.00		0.00		2,291,325.00		0.00		0.00		180,000,000.00
A-2C	35,000,000.00		465,952.07		0.00		0.00		0.00		465,952.07		0.00		0.00		35,000,000.00
M-1	30,569,000.00		419,699.65		0.00		0.00		0.00		419,699.65		0.00		0.00		30,569,000.00
M-2	27,831,000.00		384,427.29		0.00		0.00		0.00		384,427.29		0.00		0.00		27,831,000.00
M-3	17,794,000.00		249,494.13		0.00		0.00		0.00		249,494.13		0.00		0.00		17,794,000.00
M-4	15,512,000.00		229,131.63		0.00		0.00		0.00		229,131.63		0.00		0.00		15,512,000.00
M-5	14,600,000.00		218,701.91		0.00		0.00		0.00		218,701.91		0.00		0.00		14,600,000.00
M-6	13,232,000.00		203,723.17		0.00		0.00		0.00		203,723.17		0.00		0.00		13,232,000.00
B-1	11,862,000.00		204,871.58		0.00		0.00		0.00		204,871.58		0.00		0.00		11,862,000.00
B-2	7,756,000.00		137,833.82		0.00		0.00		0.00		137,833.82		0.00		0.00		7,756,000.00
B-3	9,126,000.00		195,642.44		0.00		0.00		0.00		195,642.44		0.00		0.00		9,126,000.00
X	20,075,053.00		13,576,881.30		7.53		0.31		7.83		13,576,889.13		0.00		0.00		20,075,045.17
UT-R	0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00
P	0.00		1,992,550.98		0.00		0.00		0.00		1,992,550.98		0.00		0.00		0.00

Total	912,502,053.00		26,896,561.40		89,410,840.26		2,549,035.41		91,959,875.67		118,856,437.07		0.00		0.00		820,542,177.33


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	3.36000%		269,135,351.03		828,936.88		0.00		0.00		0.00		828,936.88		828,936.88		0.00
A-1MZ	3.38000%		67,284,066.74		208,468.47		0.00		0.00		0.00		208,468.47		208,468.47		0.00
A-2A	3.21000%		122,392,592.95		360,140.20		0.00		0.00		0.00		360,140.20		360,140.20		0.00
A-2B	3.30000%		180,000,000.00		544,500.00		0.00		0.00		0.00		544,500.00		544,500.00		0.00
A-2C	3.44000%		35,000,000.00		110,366.67		0.00		0.00		0.00		110,366.67		110,366.67		0.00
M-1	3.54000%		30,569,000.00		99,196.41		0.00		0.00		0.00		99,196.41		99,196.41		0.00
M-2	3.56000%		27,831,000.00		90,821.83		0.00		0.00		0.00		90,821.83		90,821.83		0.00
M-3	3.61000%		17,794,000.00		58,883.31		0.00		0.00		0.00		58,883.31		58,883.31		0.00
M-4	3.79000%		15,512,000.00		53,891.27		0.00		0.00		0.00		53,891.27		53,891.27		0.00
M-5	3.84000%		14,600,000.00		51,392.00		0.00		0.00		0.00		51,392.00		51,392.00		0.00
M-6	3.94000%		13,232,000.00		47,789.57		0.00		0.00		0.00		47,789.57		47,789.57		0.00
B-1	4.39000%		11,862,000.00		47,734.67		0.00		0.00		0.00		47,734.67		47,734.67		0.00
B-2	4.51000%		7,756,000.00		32,064.60		0.00		0.00		0.00		32,064.60		32,064.60		0.00
B-3	5.39000%		9,126,000.00		45,090.05		0.00		0.00		0.00		45,090.05		45,090.05		0.00
X	118.76370%		20,075,045.17		0.00		0.00		0.00		0.00		0.00		2,185,504.45		0.00
UT-R	0.00000%		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00
P	0.00000%		0.00		0.00		0.00		0.00		0.00		0.00		524,099.76		0.00

Total			842,169,055.89		2,579,275.93		0.00		0.00		0.00		2,579,275.93		5,288,880.14		0.00



Page 3 of 28
Morgan Stanley Home Equity Loan Trust 2005-1

Mortgage Pass-Through Certificates

2005-1

June 27, 2005 Distribution
Collection Account Report
SUMMARY

										Group 2		Group 1		Total
Principal Collections										11,581,324.50		10,045,554.06		21,626,878.56
Principal Withrawals										0.00		0.00		0.00
Principal Other Accounts										0.00		0.00		0.00
TOTAL NET PRINCIPAL										11,581,324.50		10,045,554.06		21,626,878.56
Interest Collections										2,400,734.30		2,428,692.19		4,829,426.49
Interest Withdrawals										-0.00		-0.00		-0.00
Interest Other Accounts										0.00		0.00		524,099.76
Interest Fees										-32,966.17		-31,679.94		-64,646.11
TOTAL NET INTEREST										2,367,768.13		2,397,012.25		5,288,880.14
TOTAL AVAILABLE FUNDS FOR DISTRIBUTION										13,949,092.63		12,442,566.31		26,915,758.70



PRINCIPAL - COLLECTIONS

											Group 2		Group 1		Total
Scheduled Principal Received											251,901.50		240,242.36		492,143.86
Prepayments In Full											11,169,056.20		9,693,126.15		20,862,182.35
Curtailments											160,366.80		22,400.37		182,767.17
Liquidations											0.00		89,785.18		89,785.18
Insurance Principal											0.00		0.00		0.00
Repurchased Principal Amounts											0.00		0.00		0.00
Other Principal											0.00		0.00		0.00
Total Realized Loss Of Principal											-0.00		-0.00		-0.00
Delinquent Principal											-211,160.85		-203,951.66		-415,112.51
Advanced Principal											211,160.85		203,951.66		415,112.51
TOTAL PRINCIPAL COLLECTED											11,581,324.50		10,045,554.06		21,626,878.56


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 28
Morgan Stanley Home Equity Loan Trust 2005-1

Mortgage Pass-Through Certificates

2005-1

June 27, 2005 Distribution

INTEREST - COLLECTIONS

										Group 2		Group 1		Total
Scheduled Interest										2,545,635.51		2,573,146.22		5,118,781.73
Liquidation Interest										0.00		411.44		411.44
Repurchased Interest										0.00		0.00		0.00
Insurance Interest										0.00		0.00		0.00
Other Interest										0.00		0.00		0.00
Relief Act Interest Shortfalls										-0.00		-0.00		-0.00
Prepayment Interest Shortfalls										-16,693.86		-13,423.55		-30,117.41
Compensating Interest										16,693.86		13,423.54		30,117.40
Delinquent Interest										-2,099,763.25		-2,139,180.45		-4,238,943.70
Interest Advanced										1,954,862.04		1,994,314.97		3,949,177.01
TOTAL INTEREST COLLECTED										2,400,734.30		2,428,692.19		4,829,426.49


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														524,099.76
TOTAL INTEREST OTHER ACCOUNTS										0.00		0.00		524,099.76



INTEREST - FEES

										Group 2		Group 1		Total
Current Servicing Fees										31,205.11		29,931.97		61,137.08
Current Trustee Fees										1,761.06		1,747.97		3,509.04
TOTAL INTEREST OTHER FEES										32,966.17		31,679.94		64,646.11




Page 5 of 28
Morgan Stanley Home Equity Loan Trust 2005-1

Mortgage Pass-Through Certificates

2005-1

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														20,075,045.17
Overcollateralization Target Amount														20,075,045.17
Overcollateralization Deficiency Amount														0.00
Overcollateralization Release Amount														0.00




Page 6 of 28
Morgan Stanley Home Equity Loan Trust 2005-1

Mortgage Pass-Through Certificates

2005-1

June 27, 2005 Distribution
Collateral Report


COLLATERAL



											Group 2		Group 1		Total



Loan Count:


Original										2,955		3,568		6,523
Prior										2,741		3,388		6,129
Prefunding										0		0		0
Scheduled Paid Offs										-0		-0		-0
Full Voluntary Prepayments										-68		-69		-137
Repurchases										-0		-0		-0
Liquidations										-0		-1		-1
Current										2,673		3,318		5,991
Principal Balance:


Original										461,996,371.69		449,845,887.51		911,842,259.20
Prior										422,655,185.18		419,513,870.71		842,169,055.89
Prefunding										0.00		0.00		0.00
Scheduled Principal										-251,901.50		-240,242.36		-492,143.86
Partial Prepayments										-160,366.80		-22,400.37		-182,767.17
Full Voluntary Prepayments										-11,169,056.20		-9,693,126.15		-20,862,182.35
Repurchases										-0.00		-0.00		-0.00
Liquidations										-0.00		-89,785.18		-89,785.18
Current										411,073,860.68		409,468,316.65		820,542,177.33





PREFUNDING

SPACE INTENTIONALLY LEFT BLANK






Page 7 of 28
Morgan Stanley Home Equity Loan Trust 2005-1

Mortgage Pass-Through Certificates

2005-1

June 27, 2005 Distribution

CHARACTERISTICS

										Group 2		Group 1		Total
Weighted Average Coupon Original										7.23097%		7.35011%		7.28975%
Weighted Average Coupon Prior										7.23528%		7.36488%		7.29983%
Weighted Average Coupon Current										7.22755%		7.36858%		7.29780%
Weighted Average Months to Maturity Original										351		345		348
Weighted Average Months to Maturity Prior										348		342		345
Weighted Average Months to Maturity Current										347		341		344
Weighted Avg Remaining Amortization Term Original										351		345		348
Weighted Avg Remaining Amortization Term Prior										348		342		345
Weighted Avg Remaining Amortization Term Current										347		341		344
Weighted Average Seasoning Original										4.99		4.95		4.97
Weighted Average Seasoning Prior										7.98		7.94		7.96
Weighted Average Seasoning Current										8.99		8.93		8.96









Page 8 of 28
Morgan Stanley Home Equity Loan Trust 2005-1

Mortgage Pass-Through Certificates

2005-1

June 27, 2005 Distribution

ARM CHARACTERISTICS

										Group 2		Group 1		Total
Weighted Average Margin Original										6.59175%		6.54028%		6.56751%
Weighted Average Margin Prior										6.56838%		6.53099%		6.55059%
Weighted Average Margin Current										6.56554%		6.53004%		6.54866%
Weighted Average Max Rate Original										13.92543%		13.84364%		13.88691%
Weighted Average Max Rate Prior										13.90757%		13.83640%		13.87372%
Weighted Average Max Rate Current										13.90089%		13.83630%		13.87017%
Weighted Average Min Rate Original										7.15325%		7.11240%		7.13401%
Weighted Average Min Rate Prior										7.13971%		7.10503%		7.12321%
Weighted Average Min Rate Current										7.13483%		7.10636%		7.12129%
Weighted Average Cap Up Original										1.06895%		1.05995%		1.06471%
Weighted Average Cap Up Prior										1.07265%		1.06008%		1.06667%
Weighted Average Cap Up Current										1.07205%		1.06128%		1.06693%
Weighted Average Cap Down Original										1.06895%		1.05995%		1.06471%
Weighted Average Cap Down Prior										1.07265%		1.06008%		1.06667%
Weighted Average Cap Down Current										1.07205%		1.06128%		1.06693%




SERVICING FEES & ADVANCES

											Group 2		Group 1		Total




Current Servicing Fees										31,205.11		29,931.97		61,137.08
Delinquent Servicing Fees										144,901.22		144,865.47		289,766.69
TOTAL SERVICING FEES										176,106.33		174,797.45		350,903.78


Compensating Interest										-16,693.86		-13,423.54		-30,117.40
Delinquent Servicing Fees										-144,901.22		-144,865.47		-289,766.69
COLLECTED SERVICING FEES										125,138.21		16,508.43		31,019.69


Aggregate Advances with respect to this Distribution										1,885,627.80		1,704,783.83		3,590,411.63





ADDITIONAL COLLATERAL INFORMATION
										Group 2		Group 1		Total
Net Prepayment Interest Shortfall										0.00		0.00		0.00
Libor For Current Period														3.0900%
Libor For Next Period														3.3144%
Libor For Class A-3b for current Period




Page 9 of 28
Morgan Stanley Home Equity Loan Trust 2005-1

Mortgage Pass-Through Certificates

2005-1

June 27, 2005 Distribution
Delinquency Report

	TOTAL
					< 1 PAYMENT		1 PAYMENT		2 PAYMENTS		3+ PAYMENTS		TOTAL
	DELINQUENT		Balance				12,623,313.13		1,098,719.36		276,318.68		13,998,351.17
			% Balance				1.54%		0.13%		0.03%		1.71%
			# Loans				104		12		7		123
			% # Loans				1.74%		0.20%		0.12%		2.05%
	FORECLOSURE		Balance		505,659.72		428,475.65		1,619,619.77		7,899,706.61		10,453,461.75
			% Balance		0.06%		0.05%		0.20%		0.96%		1.27%
			# Loans		2		2		16		54		74
			% # Loans		0.03%		0.03%		0.27%		0.90%		1.24%
	BANKRUPTCY		Balance		3,656,019.29		349,556.16		620,649.74		717,691.52		5,343,916.71
			% Balance		0.45%		0.04%		0.08%		0.09%		0.65%
			# Loans		30		4		5		6		45
			% # Loans		0.50%		0.07%		0.08%		0.10%		0.75%
	REO		Balance		0.00		0.00		0.00		311,316.48		311,316.48
			% Balance		0.00%		0.00%		0.00%		0.04%		0.04%
			# Loans		0		0		0		2		2
			% # Loans		0.00%		0.00%		0.00%		0.03%		0.03%
	TOTAL		Balance		4,161,679.01		13,401,344.94		3,338,988.87		9,205,033.29		30,107,046.11
			% Balance		0.51%		1.63%		0.41%		1.12%		3.67%
			# Loans		32		110		33		69		244
			% # Loans		0.53%		1.84%		0.55%		1.15%		4.07%









Page 10 of 28
Morgan Stanley Home Equity Loan Trust 2005-1

Mortgage Pass-Through Certificates

2005-1

June 27, 2005 Distribution


	GROUP 1
					< 1 PAYMENT		1 PAYMENT		2 PAYMENTS		3+ PAYMENTS		TOTAL
	DELINQUENT		Balance				6,637,717.41		724,065.22		151,410.51		7,513,193.14
			% Balance				1.62%		0.18%		0.04%		1.83%
			# Loans				56		8		4		68
			% # Loans				1.69%		0.24%		0.12%		2.05%
	FORECLOSURE		Balance		339,860.90		428,475.65		667,269.01		2,865,054.46		4,300,660.02
			% Balance		0.08%		0.10%		0.16%		0.70%		1.05%
			# Loans		1		2		6		22		31
			% # Loans		0.03%		0.06%		0.18%		0.66%		0.93%
	BANKRUPTCY		Balance		1,607,901.22		149,772.94		394,389.86		449,556.29		2,601,620.31
			% Balance		0.39%		0.04%		0.10%		0.11%		0.64%
			# Loans		15		2		3		4		24
			% # Loans		0.45%		0.06%		0.09%		0.12%		0.72%
	REO		Balance		0.00		0.00		0.00		173,330.40		173,330.40
			% Balance		0.00%		0.00%		0.00%		0.04%		0.04%
			# Loans		0		0		0		1		1
			% # Loans		0.00%		0.00%		0.00%		0.03%		0.03%
	TOTAL		Balance		1,947,762.12		7,215,966.00		1,785,724.09		3,639,351.66		14,588,803.87
			% Balance		0.48%		1.76%		0.44%		0.89%		3.56%
			# Loans		16		60		17		31		124
			% # Loans		0.48%		1.81%		0.51%		0.93%		3.74%










Page 11 of 28
Morgan Stanley Home Equity Loan Trust 2005-1

Mortgage Pass-Through Certificates

2005-1

June 27, 2005 Distribution

	GROUP 2
					< 1 PAYMENT		1 PAYMENT		2 PAYMENTS		3+ PAYMENTS		TOTAL
	DELINQUENT		Balance				5,985,595.72		374,654.14		124,908.17		6,485,158.03
			% Balance				1.46%		0.09%		0.03%		1.58%
			# Loans				48		4		3		55
			% # Loans				1.80%		0.15%		0.11%		2.06%
	FORECLOSURE		Balance		165,798.82		0.00		952,350.76		5,034,652.15		6,152,801.73
			% Balance		0.04%		0.00%		0.23%		1.22%		1.50%
			# Loans		1		0		10		32		43
			% # Loans		0.04%		0.00%		0.37%		1.20%		1.61%
	BANKRUPTCY		Balance		2,048,118.07		199,783.22		226,259.88		268,135.23		2,742,296.40
			% Balance		0.50%		0.05%		0.06%		0.07%		0.67%
			# Loans		15		2		2		2		21
			% # Loans		0.56%		0.07%		0.07%		0.07%		0.79%
	REO		Balance		0.00		0.00		0.00		137,986.08		137,986.08
			% Balance		0.00%		0.00%		0.00%		0.03%		0.03%
			# Loans		0		0		0		1		1
			% # Loans		0.00%		0.00%		0.00%		0.04%		0.04%
	TOTAL		Balance		2,213,916.89		6,185,378.94		1,553,264.78		5,565,681.63		15,518,242.24
			% Balance		0.54%		1.50%		0.38%		1.35%		3.78%
			# Loans		16		50		16		38		120
			% # Loans		0.60%		1.87%		0.60%		1.42%		4.49%









Page 12 of 28
Morgan Stanley Home Equity Loan Trust 2005-1

Mortgage Pass-Through Certificates

2005-1

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
322555038 1
			174,250.00		173,330.40		01-Nov-2004		8.800%		MI - 85.00%		360		01-Oct-2004

322556598 2			138,700.00		137,986.08		01-Dec-2004		9.100%		MI - 95.00%		360		01-Oct-2004


TOTAL			312,950.00		311,316.48



Page 13 of 28
Morgan Stanley Home Equity Loan Trust 2005-1

Mortgage Pass-Through Certificates

2005-1

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
19143072 1
			96,000.00		94,934.30		01-Jan-2005		5.750%		NC - 80.00%		360		01-Sep-2004

19144708 1			231,200.00		229,477.97		01-Nov-2004		7.625%		RI - 80.00%		360		01-Sep-2004
19146786 1			71,200.00		70,707.67		01-Feb-2005		8.000%		WI - 79.11%		360		01-Sep-2004
19147768 1			284,800.00		284,800.00		01-Dec-2004		7.000%		CA - 80.00%		360		01-Oct-2004
19150846 1			132,800.00		131,867.84		01-Nov-2004		7.375%		WA - 80.00%		360		01-Oct-2004
19152461 1			183,450.00		181,924.68		01-Feb-2005		6.500%		GA - 79.76%		360		01-Oct-2004
19152719 1			243,000.00		241,636.94		01-Jan-2005		8.500%		FL - 90.00%		360		01-Oct-2004
19154616 1			73,500.00		73,067.39		01-Jan-2005		8.625%		UT - 70.00%		360		01-Oct-2004
19155845 1			217,050.00		215,950.44		01-Nov-2004		9.000%		RI - 84.98%		360		01-Oct-2004
321797268 1			47,200.00		46,679.89		01-Jan-2005		7.500%		MO - 80.00%		360		01-May-2004
321802787 1			82,000.00		81,888.46		01-Feb-2005		4.350%		WA - 80.00%		360		01-May-2004
322121369 1			56,007.00		55,619.72		01-Dec-2004		8.000%		OK - 76.20%		360		01-Sep-2004
322555772 1			147,200.00		146,529.86		01-Nov-2004		10.200%		CO - 80.00%		360		01-Oct-2004
322556226 1			123,824.00		123,824.00		01-Feb-2005		7.000%		OH - 80.00%		360		01-Oct-2004
322558024 1			98,400.00		97,916.63		01-Jan-2005		9.150%		TX - 80.00%		360		01-Oct-2004
322558388 1			336,800.00		336,695.29		01-Mar-2005		6.650%		CA - 80.00%		360		01-Oct-2004
322559477 1			99,200.00		98,643.40		01-Jan-2005		9.950%		TX - 80.00%		360		01-Sep-2004
322561325 1			65,600.00		65,209.64		01-Jan-2005		7.600%		MO - 80.00%		360		01-Nov-2004
322561820 1			220,000.00		220,000.00		01-Dec-2004		6.450%		CO - 80.00%		360		01-Oct-2004
322563057 1			78,400.00		77,824.94		01-Jan-2005		7.150%		TX - 80.00%		360		01-Oct-2004
322563156 1			147,900.00		146,555.04		01-Jan-2005		5.600%		KY - 85.00%		360		01-Nov-2004
322563313 1			90,000.00		89,620.66		01-Feb-2005		10.650%		IN - 80.00%		360		01-Oct-2004
322572678 1			172,000.00		170,193.00		01-Dec-2004		5.250%		OH - 80.00%		360		01-Oct-2004
322576406 1			342,000.00		339,860.90		01-Apr-2005		8.500%		MN - 90.00%		360		01-Sep-2004
322583204 1			92,400.00		91,780.36		01-Mar-2005		6.990%		SC - 80.00%		360		01-Oct-2004
322585480 1			175,200.00		175,200.00		01-Dec-2004		6.190%		OH - 80.00%		360		01-Oct-2004
322587635 1			85,000.00		84,356.83		01-Nov-2004		6.990%		PA - 85.00%		360		01-Oct-2004
322594680 1			150,000.00		148,610.46		01-Dec-2004		6.500%		WA - 80.00%		360		01-Sep-2004
322594698 1			37,500.00		37,414.76		01-Dec-2004		13.250%		WA - 20.00%		180		01-Sep-2004
322596065 1			22,700.00		22,565.41		01-Nov-2004		9.250%		AZ - 20.00%		180		01-Aug-2004
322859117 1			119,760.00		119,303.54		01-Feb-2005		9.125%		MI - 80.00%		360		01-Dec-2004
19145556 2			240,000.00		237,146.50		01-Oct-2004		7.750%		CA - 60.00%		360		01-Sep-2004
19146182 2			128,000.00		127,364.17		01-Jan-2005		9.625%		IL - 80.00%		360		01-Sep-2004
19148543 2			468,000.00		468,000.00		01-Dec-2004		6.375%		CO - 90.00%		360		01-Oct-2004
19148824 2			55,350.00		55,047.81		01-Oct-2004		9.125%		IL - 90.00%		360		01-Oct-2004
19149590 2			148,000.00		146,769.43		01-Feb-2005		6.500%		CA - 77.49%		360		01-Oct-2004
19150044 2			167,000.00		165,798.82		01-Jul-2005		7.250%		FL - 83.92%		360		01-Oct-2004
19151117 2			242,100.00		241,103.34		01-Jan-2005		10.000%		MN - 90.00%		360		01-Oct-2004
19151703 2			85,000.00		84,580.26		01-Dec-2004		9.125%		KY - 85.00%		360		01-Oct-2004
19152974 2			260,000.00		258,219.30		01-Dec-2004		7.500%		CA - 72.22%		360		01-Oct-2004
19154756 2			160,000.00		159,056.07		01-Jan-2005		8.250%		CA - 39.02%		360		01-Oct-2004
19158518 2			241,200.00		239,539.78		01-Dec-2004		7.125%		UT - 80.00%		360		01-Nov-2004
322120106 2			66,000.00		65,511.00		01-Dec-2004		8.600%		OR - 80.00%		360		01-Jul-2004
322120403 2			80,000.00		79,338.34		01-Feb-2005		8.050%		IN - 88.89%		360		01-Jul-2004
322120437 2			61,200.00		60,522.73		01-Nov-2004		7.000%		IN - 90.00%		360		01-Jun-2004
322120536 2			86,400.00		85,618.95		01-Jan-2005		7.600%		IA - 90.00%		360		01-Jul-2004
322244666 2			103,200.00		102,435.63		01-Dec-2004		7.100%		MN - 80.00%		360		01-Oct-2004
322245085 2			146,320.00		145,052.42		01-Jan-2005		6.850%		CO - 80.00%		360		01-Sep-2004
322553405 2			128,800.00		128,099.13		01-Jan-2005		8.650%		MI - 80.00%		360		01-Oct-2004



Page 14 of 28
Morgan Stanley Home Equity Loan Trust 2005-1

Mortgage Pass-Through Certificates

2005-1

June 27, 2005 Distribution

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
322553454 2
			75,650.00		75,228.44		01-Jan-2005		9.550%		MI - 85.00%		360		01-Aug-2004

322553470 2			98,440.00		97,989.23		01-Dec-2004		9.490%		TX - 80.00%		360		01-Oct-2004
322555285 2			200,000.00		200,000.00		01-Feb-2005		6.700%		KY - 80.00%		360		01-Oct-2004
322555566 2			48,000.00		47,729.79		01-Feb-2005		8.500%		MO - 80.00%		360		01-Oct-2004
322555574 2			193,500.00		192,383.43		01-Jan-2005		8.450%		IL - 90.00%		360		01-Oct-2004
322555681 2			336,000.00		333,399.35		01-Nov-2004		7.150%		IL - 80.00%		360		01-Oct-2004
322555723 2			256,500.00		255,239.96		01-Dec-2004		9.150%		OH - 90.00%		360		01-Oct-2004
322556358 2			143,764.00		143,764.00		01-Dec-2004		7.700%		TX - 80.00%		360		01-Oct-2004
322558560 2			47,500.00		47,263.10		01-Feb-2005		9.700%		KS - 95.00%		360		01-Oct-2004
322558800 2			74,955.00		74,676.47		01-Dec-2004		11.000%		TX - 95.00%		360		01-Sep-2004
322559998 2			95,920.00		95,236.70		01-Feb-2005		7.850%		MO - 80.00%		360		01-Sep-2004
322560038 2			152,450.00		151,645.46		01-Nov-2004		8.800%		MI - 89.15%		360		01-Oct-2004
322561465 2			52,000.00		52,000.00		01-Jan-2005		8.800%		IN - 80.00%		360		01-Oct-2004
322561648 2			123,500.00		122,662.50		01-Nov-2004		7.550%		IL - 95.00%		360		01-Oct-2004
322565219 2			198,000.00		196,643.99		01-Nov-2004		7.500%		CO - 90.00%		360		01-Oct-2004
322578261 2			96,050.00		95,653.25		01-Feb-2005		9.400%		OH - 85.00%		360		01-Nov-2004
322580267 2			364,000.00		364,000.00		01-Jan-2005		7.550%		TX - 80.00%		360		01-Nov-2004
322589888 2			83,000.00		82,372.04		01-Nov-2004		6.990%		IN - 76.85%		360		01-Oct-2004
322591116 2			120,000.00		119,115.57		01-Dec-2004		7.125%		ME - 80.00%		360		01-Oct-2004
322596438 2			92,800.00		91,940.15		01-Dec-2004		6.499%		UT - 80.00%		360		01-Sep-2004
322860040 2			144,800.00		143,912.43		01-Jan-2005		6.750%		OH - 80.00%		360		01-Dec-2004
322860222 2			66,320.00		66,060.45		01-Feb-2005		8.999%		IN - 80.00%		360		01-Dec-2004
322862129 2			116,000.00		115,471.40		01-Feb-2005		8.250%		GA - 80.00%		360		01-Dec-2004
322862210 2			59,200.00		58,828.30		01-Feb-2005		6.625%		WA - 80.00%		360		01-Dec-2004
322863168 2			80,750.00		80,382.04		01-Dec-2004		8.250%		NE - 95.00%		360		01-Dec-2004


TOTAL			10,507,760.00		10,453,461.75



Page 15 of 28
Morgan Stanley Home Equity Loan Trust 2005-1

Mortgage Pass-Through Certificates

2005-1

June 27, 2005 Distribution
Prepayment Report

VOLUNTARY PREPAYMENTS


											Group 2		Group 1		Total




Current


Number of Paid in Full Loans										68		69		137
Number of Repurchased Loans										0		0		0
Total Number of Loans Prepaid in Full										68		69		137
Curtailments Amount										160,366.80		22,400.37		182,767.17
Paid in Full Balance										11,169,056.20		9,693,126.15		20,862,182.35
Repurchased Loans Balance										0.00		0.00		0.00
Total Prepayment Amount										11,329,423.00		9,715,526.52		21,044,949.52

Cumulative


Number of Paid in Full Loans										282		249		531
Number of Repurchased Loans										0		0		0
Total Number of Loans Prepaid in Full										282		249		531
Paid in Full Balance										48,953,104.79		38,694,792.43		87,647,897.22
Repurchased Loans Balance										0.00		0.00		0.00
Curtailments Amount										660,492.42		352,871.64		1,013,364.06
Total Prepayment Amount										49,613,597.21		39,047,664.07		88,661,261.28










Page 16 of 28
Morgan Stanley Home Equity Loan Trust 2005-1

Mortgage Pass-Through Certificates

2005-1

June 27, 2005 Distribution

VOLUNTARY PREPAYMENTS RATES


											Group 2		Group 1		Total



SMM										2.68%		2.34%		2.51%
3 Months Avg SMM										2.65%		2.23%		2.44%
12 Months Avg SMM										2.25%		1.81%		2.03%
Avg SMM Since Cut-off										2.25%		1.81%		2.03%


CPR										27.84%		24.72%		26.30%
3 Months Avg CPR										27.52%		23.67%		25.63%
12 Months Avg CPR										23.91%		19.66%		21.83%
Avg CPR Since Cut-off										23.91%		19.66%		21.83%


PSA										1,548.93%		1,383.78%		1,467.76%
3 Months Avg PSA Approximation										1,723.62%		1,491.32%		1,609.99%
12 Months Avg PSA Approximation										1,711.32%		1,416.14%		1,567.41%
Avg PSA Since Cut-off Approximation										1,711.33%		1,416.14%		1,567.41%










Page 17 of 28
Morgan Stanley Home Equity Loan Trust 2005-1

Mortgage Pass-Through Certificates

2005-1

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 28
Morgan Stanley Home Equity Loan Trust 2005-1

Mortgage Pass-Through Certificates

2005-1

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

19142504 1			30,400.00		30,357.43			24-May-2005		14.250%		WI - 20.00%		Paid Off - 360		01-Oct-2004


19142629 1			219,200.00		219,147.48			24-May-2005		5.750%		CA - 80.00%		Paid Off - 360		01-Jul-2004

19143676 2			72,100.00		71,652.84			04-May-2005		8.000%		MD - 70.00%		Paid Off - 360		01-Sep-2004

19143734 1			175,200.00		173,326.24			05-May-2005		6.375%		MD - 80.00%		Paid Off - 360		01-Sep-2004

19144450 2			136,000.00		136,000.00			04-May-2005		7.125%		CA - 80.00%		Paid Off - 360		01-Sep-2004

19144773 1			152,800.00		151,947.06			20-May-2005		8.250%		NC - 80.00%		Paid Off - 360		01-Oct-2004

19145366 2			131,750.00		131,029.44			13-May-2005		8.625%		IL - 85.00%		Paid Off - 360		01-Sep-2004

19145408 2			172,500.00		170,807.13			03-May-2005		6.375%		IL - 75.00%		Paid Off - 360		01-Sep-2004

19146083 1			95,000.00		94,265.03			26-May-2005		6.875%		CA - 27.18%		Paid Off - 360		01-Sep-2004

19146612 1			81,600.00		81,151.65			27-May-2005		8.000%		OH - 85.00%		Paid Off - 360		01-Oct-2004

19147388 1			121,600.00		120,893.33			24-May-2005		7.750%		WI - 80.00%		Paid Off - 360		01-Oct-2004

19148832 2			89,500.00		89,055.32			04-May-2005		8.500%		WI - 79.20%		Paid Off - 360		01-Oct-2004

19148840 2			22,350.00		22,303.84			04-May-2005		12.625%		WI - 19.78%		Paid Off - 180		01-Oct-2004

19149772 2			170,000.00		168,746.94			27-May-2005		6.500%		CA - 41.66%		Paid Off - 360		01-Oct-2004

19149947 1			35,400.00		7,286.83			03-May-2005		14.375%		FL - 20.00%		Paid Off - 180		01-Oct-2004

19150804 2			262,000.00		262,000.00			27-May-2005		6.250%		CA - 80.00%		Paid Off - 360		01-Oct-2004

19150812 1			65,500.00		65,285.33			27-May-2005		10.500%		CA - 20.00%		Paid Off - 360		01-Oct-2004

19150879 2			96,000.00		95,357.48			27-May-2005		7.000%		CA - 80.00%		Paid Off - 360		01-Oct-2004

19150887 1			24,000.00		23,925.37			27-May-2005		10.750%		CA - 20.00%		Paid Off - 360		01-Oct-2004

19151109 1			150,300.00		149,269.41			17-May-2005		6.875%		IL - 90.00%		Paid Off - 360		01-Oct-2004

19152230 1			120,000.00		119,235.10			17-May-2005		7.250%		OH - 80.00%		Paid Off - 360		01-Oct-2004

19152370 2			252,000.00		250,229.68			09-May-2005		6.750%		FL - 80.00%		Paid Off - 360		01-Oct-2004

19152479 1			86,400.00		85,534.72			26-May-2005		8.000%		FL - 80.00%		Paid Off - 360		01-Oct-2004

19152511 1			137,250.00		136,680.09			25-May-2005		9.375%		MD - 75.00%		Paid Off - 360		01-Oct-2004

19153121 1			84,000.00		83,514.82			24-May-2005		7.750%		FL - 80.00%		Paid Off - 360		01-Oct-2004

19153139 1			21,000.00		20,917.21			18-May-2005		9.625%		FL - 20.00%		Paid Off - 180		01-Oct-2004

19153428 1			161,100.00		160,213.98			25-May-2005		8.000%		FL - 90.00%		Paid Off - 360		01-Oct-2004

19154376 1			246,000.00		244,379.44			19-May-2005		6.375%		MD - 65.60%		Paid Off - 360		01-Nov-2004

19154541 2			82,000.00		81,559.05			31-May-2005		8.625%		CA - 80.00%		Paid Off - 360		01-Oct-2004

19155068 2			133,875.00		133,062.57			09-May-2005		7.500%		CA - 83.67%		Paid Off - 360		01-Oct-2004

19155944 2			228,000.00		226,762.94			19-May-2005		7.375%		VA - 80.00%		Paid Off - 360		01-Nov-2004

19155951 1			57,000.00		56,930.94			19-May-2005		14.375%		VA - 20.00%		Paid Off - 360		01-Nov-2004

19156645 2			217,000.00		215,156.85			31-May-2005		5.750%		CA - 73.56%		Paid Off - 360		01-Nov-2004

19156868 1			355,950.00		353,198.28			20-May-2005		6.250%		CA - 79.99%		Paid Off - 360		01-Oct-2004

19156876 2			88,950.00		88,714.85			20-May-2005		11.500%		CA - 19.99%		Paid Off - 360		01-Oct-2004

19156975 2			198,000.00		196,699.38			03-May-2005		7.875%		CA - 89.19%		Paid Off - 360		01-Oct-2004

19157965 1			150,000.00		149,281.20			06-May-2005		8.000%		MD - 66.67%		Paid Off - 360		01-Nov-2004




Page 19 of 28
Morgan Stanley Home Equity Loan Trust 2005-1

Mortgage Pass-Through Certificates

2005-1

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

19158195 1			190,000.00		188,969.15			03-May-2005		7.375%		RI - 100.00%		Paid Off - 360		01-Nov-2004


19158369 2			432,000.00		2,299.19			17-May-2005		6.875%		CA - 80.00%		Paid Off - 360		01-Nov-2004

19158443 2			427,600.00		427,479.06			17-May-2005		6.750%		CA - 80.00%		Paid Off - 360		01-Nov-2004

19158583 2			106,900.00		106,565.53			17-May-2005		10.875%		CA - 20.00%		Paid Off - 360		01-Nov-2004

19159300 2			63,600.00		63,375.76			11-May-2005		9.500%		OH - 80.00%		Paid Off - 360		01-Nov-2004

19160217 2			102,000.00		101,558.17			05-May-2005		8.500%		MI - 85.00%		Paid Off - 360		01-Nov-2004

19160399 2			165,600.00		164,864.23			09-May-2005		8.375%		NV - 80.00%		Paid Off - 360		01-Nov-2004

19160407 1			41,400.00		41,280.86			09-May-2005		10.875%		NV - 20.00%		Paid Off - 360		01-Nov-2004

19160498 1			110,850.00		110,153.98			16-May-2005		6.625%		CA - 79.98%		Paid Off - 360		01-Nov-2004

19160878 2			169,200.00		168,389.20			03-May-2005		8.000%		IL - 89.05%		Paid Off - 360		01-Nov-2004

19160969 2			112,500.00		111,919.03			26-May-2005		7.625%		IL - 75.00%		Paid Off - 360		01-Nov-2004

19161447 1			96,900.00		96,548.30			05-May-2005		9.500%		IL - 85.00%		Paid Off - 360		01-Nov-2004

322119793 2			84,000.00		83,339.07			02-Jun-2005		7.350%		OH - 80.00%		Paid Off - 360		01-Aug-2004

322120015 2			114,400.00		113,389.71			27-May-2005		6.750%		CA - 80.00%		Paid Off - 360		01-Aug-2004

322121666 2			120,000.00		118,532.64			15-Jun-2005		6.700%		OH - 80.00%		Paid Off - 360		01-Aug-2004

322244484 1			204,000.00		202,607.90			26-May-2005		8.200%		CA - 80.00%		Paid Off - 360		01-Sep-2004

322244534 1			175,500.00		170,291.41			18-May-2005		6.750%		OR - 90.00%		Paid Off - 180		#######

322244591 2			230,000.00		227,192.37			18-May-2005		5.550%		IL - 64.79%		Paid Off - 360		01-Jul-2004

322244708 2			277,233.00		275,564.04			01-Jun-2005		8.150%		CA - 80.00%		Paid Off - 360		01-Sep-2004

322244823 2			99,920.00		99,255.60			31-May-2005		7.650%		OH - 80.00%		Paid Off - 360		01-Sep-2004

322245408 2			128,800.00		128,040.18			02-Jun-2005		8.250%		MO - 80.00%		Paid Off - 360		01-Sep-2004

322245465 2			127,575.00		126,844.84			27-May-2005		8.400%		IL - 90.00%		Paid Off - 360		01-Sep-2004

322553686 2			262,000.00		262,000.00			17-May-2005		6.100%		CA - 80.00%		Paid Off - 360		01-Oct-2004

322556275 1			206,000.00		205,957.71			01-Jun-2005		7.450%		OR - 80.00%		Paid Off - 360		01-Oct-2004

322557265 2			84,600.00		84,068.61			14-Jun-2005		8.950%		MI - 90.00%		Paid Off - 360		01-Oct-2004

322557299 2			218,500.00		217,032.70			09-Jun-2005		7.600%		OR - 95.00%		Paid Off - 360		01-Sep-2004

322558164 2			217,000.00		215,469.39			14-Jun-2005		7.350%		IL - 86.80%		Paid Off - 360		01-Sep-2004

322558313 1			116,000.00		115,948.64			25-May-2005		7.500%		AZ - 80.00%		Paid Off - 360		01-Oct-2004

322558735 1			199,206.00		199,206.00			23-May-2005		6.900%		CO - 80.00%		Paid Off - 360		01-Sep-2004

322558982 1			54,400.00		54,160.94			10-Jun-2005		9.100%		OH - 80.00%		Paid Off - 360		01-Oct-2004

322559121 2			179,350.00		178,303.84			09-Jun-2005		7.700%		IL - 85.00%		Paid Off - 360		01-Oct-2004

322559378 1			187,000.00		186,991.25			17-May-2005		7.650%		CA - 85.00%		Paid Off - 360		01-Oct-2004

322559576 2			420,000.00		420,000.00			27-May-2005		6.400%		CA - 80.00%		Paid Off - 360		01-Oct-2004

322559592 2			150,960.00		150,023.69			08-Jun-2005		8.000%		WA - 85.00%		Paid Off - 360		01-Sep-2004

322560566 1			275,799.00		275,799.00			20-May-2005		7.050%		IL - 80.00%		Paid Off - 360		01-Nov-2004

322560822 1			73,508.00		73,146.47			02-Jun-2005		8.550%		MO - 80.00%		Paid Off - 360		01-Oct-2004

322561200 1			194,960.00		194,960.00			13-May-2005		6.850%		CA - 80.00%		Paid Off - 360		01-Oct-2004

322563297 2			81,600.00		81,289.88			03-Jun-2005		9.800%		OH - 80.00%		Paid Off - 360		01-Oct-2004




Page 20 of 28
Morgan Stanley Home Equity Loan Trust 2005-1

Mortgage Pass-Through Certificates

2005-1

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

322565227 1			437,000.00		434,373.76			25-May-2005		7.550%		IL - 95.00%		Paid Off - 360		01-Oct-2004


322565722 1			168,000.00		167,956.44			27-May-2005		6.800%		CA - 80.00%		Paid Off - 360		01-Oct-2004

322569617 2			180,000.00		178,367.02			17-May-2005		6.990%		VA - 80.00%		Paid Off - 360		01-Nov-2004

322571399 1			284,750.00		284,749.99			10-Jun-2005		7.100%		CA - 85.00%		Paid Off - 360		01-Oct-2004

322571720 2			185,000.00		183,838.32			25-May-2005		6.625%		CA - 71.15%		Paid Off - 360		01-Nov-2004

322571944 1			140,000.00		139,281.49			27-May-2005		7.675%		CA - 75.68%		Paid Off - 360		01-Nov-2004

322572025 2			317,050.00		317,050.00			06-Jun-2005		6.310%		CA - 85.00%		Paid Off - 360		01-Nov-2004

322573866 2			124,000.00		124,000.00			09-Jun-2005		6.350%		MN - 80.00%		Paid Off - 360		01-Nov-2004

322573874 1			31,000.00		30,901.35			09-Jun-2005		9.990%		MN - 20.00%		Paid Off - 180		01-Nov-2004

322573940 1			302,000.00		300,020.00			31-May-2005		6.400%		IL - 80.00%		Paid Off - 360		01-Nov-2004

322573957 2			75,500.00		73,818.90			31-May-2005		9.450%		IL - 20.00%		Paid Off - 180		01-Nov-2004

322575119 1			220,500.00		219,209.96			14-Jun-2005		6.990%		NV - 90.00%		Paid Off - 360		01-Nov-2004

322577560 1			261,000.00		261,000.00			26-May-2005		9.100%		CA - 90.00%		Paid Off - 360		01-Oct-2004

322577610 1			138,500.00		137,306.36			09-Jun-2005		7.050%		AZ - 85.49%		Paid Off - 360		01-Nov-2004

322578121 2			165,278.00		164,478.02			26-May-2005		7.950%		MI - 80.00%		Paid Off - 360		01-Nov-2004

322578873 2			360,000.00		360,000.00			15-Jun-2005		5.700%		CA - 80.00%		Paid Off - 360		01-Nov-2004

322579327 2			68,000.00		67,548.26			26-May-2005		5.500%		CO - 80.00%		Paid Off - 360		01-Dec-2004

322579632 2			73,600.00		73,361.35			07-Jun-2005		9.900%		MO - 80.00%		Paid Off - 360		01-Nov-2004

322580986 1			199,760.00		199,760.00			07-Jun-2005		6.600%		MD - 80.00%		Paid Off - 360		01-Oct-2004

322581158 1			49,940.00		49,772.78			08-Jun-2005		10.400%		MD - 20.00%		Paid Off - 180		01-Oct-2004

322581182 1			141,000.00		140,122.99			01-Jun-2005		7.375%		DE - 80.57%		Paid Off - 360		01-Oct-2004

322581448 1			171,000.00		169,810.28			27-May-2005		6.800%		FL - 90.00%		Paid Off - 360		01-Oct-2004

322582149 2			200,000.00		198,650.72			02-Jun-2005		6.250%		VA - 80.00%		Paid Off - 360		08-Oct-2004

322582255 1			229,500.00		229,499.34			26-May-2005		7.390%		AR - 90.00%		Paid Off - 360		01-Oct-2004

322582917 2			191,920.00		191,918.69			25-May-2005		6.650%		VA - 80.00%		Paid Off - 360		01-Sep-2004

322582925 1			47,980.00		47,754.50			25-May-2005		9.490%		VA - 20.00%		Paid Off - 180		01-Sep-2004

322583089 2			140,000.00		139,028.82			16-May-2005		6.850%		MD - 84.85%		Paid Off - 360		01-Oct-2004

322583949 2			160,000.00		158,690.34			20-May-2005		7.500%		CA - 80.00%		Paid Off - 360		01-Oct-2004

322584095 1			57,200.00		57,016.51			26-May-2005		10.990%		CA - 18.10%		Paid Off - 180		01-Oct-2004

322584673 2			171,000.00		169,826.73			19-May-2005		6.875%		CA - 79.91%		Paid Off - 360		01-Oct-2004

322584905 2			143,000.00		142,088.48			02-Jun-2005		7.250%		MA - 56.08%		Paid Off - 360		01-Oct-2004

322585019 1			141,950.00		139,590.07			02-Jun-2005		6.500%		CT - 85.00%		Paid Off - 240		01-Oct-2004

322585787 1			115,000.00		114,053.55			18-May-2005		6.850%		MN - 56.10%		Paid Off - 360		01-Oct-2004

322588781 2			204,000.00		202,876.81			09-Jun-2005		7.990%		MD - 81.27%		Paid Off - 360		15-Sep-2004

322588898 1			146,500.00		146,398.68			26-May-2005		5.250%		MD - 84.68%		Paid Off - 360		01-Oct-2004

322590522 2			195,500.00		195,500.00			15-Jun-2005		6.875%		CA - 85.00%		Paid Off - 360		01-Sep-2004

322591942 1			146,000.00		145,998.70			01-Jun-2005		7.250%		MN - 89.57%		Paid Off - 360		01-Oct-2004

322592072 1			140,200.00		138,268.60			17-May-2005		6.450%		IL - 80.00%		Paid Off - 360		01-Sep-2004




Page 21 of 28
Morgan Stanley Home Equity Loan Trust 2005-1

Mortgage Pass-Through Certificates

2005-1

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

322592916 2			217,125.00		215,316.24			01-Jun-2005		6.490%		FL - 75.00%		Paid Off - 360		01-Sep-2004


322592940 2			108,000.00		107,238.40			26-May-2005		6.990%		FL - 90.00%		Paid Off - 360		01-Oct-2004

322592999 1			72,375.00		72,061.08			01-Jun-2005		9.750%		FL - 25.00%		Paid Off - 180		01-Sep-2004

322593351 2			261,740.00		261,740.00			19-May-2005		6.750%		AZ - 90.00%		Paid Off - 360		01-Sep-2004

322593526 1			112,000.00		111,010.65			27-May-2005		6.375%		AZ - 80.00%		Paid Off - 360		01-Sep-2004

322593765 2			166,500.00		165,370.84			19-May-2005		7.550%		GA - 90.00%		Paid Off - 360		01-Sep-2004

322594235 1			279,600.00		278,281.66			01-Jun-2005		9.875%		AZ - 80.00%		Paid Off - 360		01-Aug-2004

322594375 1			148,500.00		147,884.17			01-Jun-2005		10.500%		KS - 88.39%		Paid Off - 360		01-Aug-2004

322594482 1			328,000.00		327,899.02			15-Jun-2005		5.875%		CA - 80.00%		Paid Off - 360		01-Sep-2004

322594631 1			97,600.00		96,826.47			15-Jun-2005		6.750%		AZ - 80.00%		Paid Off - 360		01-Sep-2004

322594649 1			24,400.00		24,326.96			15-Jun-2005		11.490%		AZ - 20.00%		Paid Off - 180		01-Sep-2004

322595034 2			188,000.00		188,000.00			26-May-2005		8.250%		CA - 80.00%		Paid Off - 360		01-Sep-2004

322597212 1			148,000.00		146,854.70			31-May-2005		6.874%		CA - 80.00%		Paid Off - 360		01-Sep-2004

322858937 2			112,000.00		111,625.23			06-Jun-2005		8.990%		MA - 20.00%		Paid Off - 180		01-Dec-2004

322859885 1			36,000.00		35,885.87			07-Jun-2005		9.250%		AZ - 20.00%		Paid Off - 180		01-Dec-2004

322860909 2			364,000.00		362,687.21			02-Jun-2005		8.625%		VA - 80.00%		Paid Off - 360		01-Dec-2004

322860917 1			172,000.00		171,488.18			19-May-2005		10.375%		VA - 80.00%		Paid Off - 360		01-Dec-2004

322861022 1			13,000.00		12,974.44			23-May-2005		11.500%		IA - 20.00%		Paid Off - 180		01-Dec-2004

322861139 2			52,000.00		51,817.22			23-May-2005		8.750%		IA - 80.00%		Paid Off - 360		01-Dec-2004

322861402 1			11,000.00		10,959.31			20-May-2005		8.500%		MI - 25.00%		Paid Off - 180		01-Dec-2004

322861501 2			33,000.00		32,835.00			20-May-2005		6.990%		MI - 75.00%		Paid Off - 360		01-Dec-2004

322861709 2			222,000.00		221,999.80			02-Jun-2005		8.625%		MO - 100.00%		Paid Off - 360		01-Dec-2004

322862442 1			61,200.00		61,065.74			19-May-2005		10.990%		AZ - 20.01%		Paid Off - 180		01-Dec-2004

322862715 2			244,700.00		243,448.76			19-May-2005		6.875%		AZ - 79.99%		Paid Off - 360		01-Dec-2004



TOTAL			21,417,954.00		20,862,182.35



Page 22 of 28
Morgan Stanley Home Equity Loan Trust 2005-1

Mortgage Pass-Through Certificates

2005-1

June 27, 2005 Distribution
Realized Loss Report

COLLATERAL REALIZED LOSSES



											Group 2		Group 1		Total


Current




Number of Loans Liquidated										0		1		1
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		89,785.18		89,785.18

Cumulative




Number of Loans Liquidated										0		1		1
Collateral Realized Loss/(Gain) Amount										0.00		0.00		0.00
Net Liquidation Proceeds										0.00		89,785.18		89,785.18










Page 23 of 28
Morgan Stanley Home Equity Loan Trust 2005-1

Mortgage Pass-Through Certificates

2005-1

June 27, 2005 Distribution


DEFAULT SPEEDS



											Group 2		Group 1		Total



MDR										0.00%		0.02%		0.01%
3 Months Avg MDR										0.00%		0.01%		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%		0.26%		0.13%
3 Months Avg CDR										0.00%		0.09%		0.04%
12 Months Avg CDR										0.00%		0.05%		0.03%
Avg CDR Since Cut-off										0.00%		0.05%		0.03%


SDA										0.00%		1.44%		0.71%
3 Months Avg SDA Approximation										0.00%		0.54%		0.27%
12 Months Avg SDA Approximation										0.00%		0.37%		0.18%
Avg SDA Since Cut-off Approximation										0.00%		0.37%		0.18%


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 24 of 28
Morgan Stanley Home Equity Loan Trust 2005-1

Mortgage Pass-Through Certificates

2005-1

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 25 of 28
Morgan Stanley Home Equity Loan Trust 2005-1

Mortgage Pass-Through Certificates

2005-1

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)

322596040 1
			5.499%		AZ - 80.00%		360		89,785.18				0.00		0.00



TOTAL									89,785.18			0.00		0.00



Page 26 of 28
Morgan Stanley Home Equity Loan Trust 2005-1

Mortgage Pass-Through Certificates

2005-1

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
						Three Month Rolling Average 60+ days Delinquent								10,568,787.16
						Ending Balance								820,542,177.33
						Prior Period Senior Enhancement Percentage								19.9909%



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														0.00
Excess Reserve Fund Account Balance														0.00




Page 27 of 28
Morgan Stanley Home Equity Loan Trust 2005-1

Mortgage Pass-Through Certificates

2005-1

June 27, 2005 Distribution
Other Related Information
ADDITIONAL INFORMATION

										Group 2		Group 1		Total
Current Scheduled Payments										2,797,537.02		2,813,388.59		5,610,925.60
Current Scheduled Payments 1 Month Prior										2,865,723.19		2,877,306.88		5,743,030.07
Current Scheduled Payments 2 Month Prior										2,956,160.53		2,940,412.33		5,896,572.87
Current Scheduled Payments 3 Month Prior										3,006,355.10		2,981,915.28		5,988,270.38
Current Scheduled Payments 4 Month Prior										3,056,508.59		3,009,910.77		6,066,419.36
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										68,693.70		57,029.49		125,723.19
Sched. Pmts - 60+Day Delinquent Loans, 1 Month Prior										61,871.21		43,155.77		105,026.98
Sched. Pmts - 60+Day Delinquent Loans, 2 Month Prior										37,065.80		23,723.46		60,789.26
Sched. Pmts - 60+Day Delinquent Loans, 3 Month Prior										19,115.08		19,088.24		38,203.32
Sched. Pmts - 60+Day Delinquent Loans, 4 Month Prior										3,729.06		1,769.77		5,498.83
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 28 of 28

Morgan Stanley Home Equity Loan Trust 2005-1 8-K