
                                    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): December 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
     December 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:  Dec 29, 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
              December 27, 2005.



Morgan Stanley ABS Capital I Inc. 2005-NC2

Mortgage Pass-Through Certificates

2005-NC2

December 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					20
										9. Prepayment Detail Report					23

										10. Realized Loss Report					29
										11. Realized Loss Detail Report					32
				Servicer(s)
										12. Triggers and Adj. Cert. Report					33
				HomeQ Servicing Corp.
										13. Other Related Information					34
				Countrywide Home Loans Srvc LP



				Underwriter(s)
				Morgan Stanley & Co. Inc


										Total Number of Pages					34


				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:			December 27, 2005
										Factor Information:			(800) 735-7777
				Record Date:			November 30, 2005
										Main Phone Number:			(714) 247-6000

							December 23, 2005


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






Page 1 of 34
Morgan Stanley ABS Capital I Inc. 2005-NC2

Mortgage Pass-Through Certificates

2005-NC2

December 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		203,383,038.33		794,775.72		14,856,779.80		15,651,555.52		0.00		0.00		188,526,258.53

A-1mz	SR	$	68,481,000.00		50,846,502.07		200,730.69		3,714,249.19		3,914,979.88		0.00		0.00		47,132,252.88
A-2ss	SR	$	235,870,000.00		174,045,550.24		680,131.33		10,751,003.36		11,431,134.69		0.00		0.00		163,294,546.88
A-2mz	SR	$	58,968,000.00		43,511,756.51		171,774.75		2,687,773.63		2,859,548.38		0.00		0.00		40,823,982.88
A-3a	SR	$	315,000,000.00		177,978,403.46		675,724.67		17,228,698.74		17,904,423.41		0.00		0.00		160,749,704.72
A-3b	SR	$	109,586,000.00		109,586,000.00		425,802.49		0.00		425,802.49		0.00		0.00		109,586,000.00
A-3c	SR	$	92,500,000.00		92,500,000.00		370,925.00		0.00		370,925.00		0.00		0.00		92,500,000.00
A-3mz	SR	$	57,454,000.00		42,229,378.17		167,087.57		1,914,299.86		2,081,387.43		0.00		0.00		40,315,078.31
M-1	MEZ,FLT	$	48,771,000.00		48,771,000.00		198,606.35		0.00		198,606.35		0.00		0.00		48,771,000.00
M-2	MEZ,FLT	$	44,269,000.00		44,269,000.00		181,453.71		0.00		181,453.71		0.00		0.00		44,269,000.00
M-3	MEZ,FLT	$	24,761,000.00		24,761,000.00		102,152.88		0.00		102,152.88		0.00		0.00		24,761,000.00
M-4	MEZ,FLT	$	27,012,000.00		27,012,000.00		115,281.21		0.00		115,281.21		0.00		0.00		27,012,000.00
M-5	MEZ,FLT	$	23,260,000.00		23,260,000.00		99,888.78		0.00		99,888.78		0.00		0.00		23,260,000.00
M-6	MEZ,FLT	$	22,510,000.00		22,510,000.00		97,668.39		0.00		97,668.39		0.00		0.00		22,510,000.00
B-1	SUB, FLT	$	18,758,000.00		18,758,000.00		89,392.29		0.00		89,392.29		0.00		0.00		18,758,000.00
B-2	SUB, FLT	$	17,258,000.00		17,258,000.00		84,238.22		0.00		84,238.22		0.00		0.00		17,258,000.00
B-3	SUB, FLT	$	16,507,000.00		16,507,000.00		87,175.30		0.00		87,175.30		0.00		0.00		16,507,000.00
X	EXE	$	45,770,452.00		45,769,991.29		1,882,432.70		0.00		1,882,432.70		0.00		0.00		45,769,991.29
P	NOF	$	0.00		0.00		918,694.07		0.00		918,694.07		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		1,182,956,620.07		7,343,936.12		51,152,804.58		58,496,740.70		0.00		0.00		1,131,803,815.49






Page 2 of 34
Morgan Stanley ABS Capital I Inc. 2005-NC2

Mortgage Pass-Through Certificates

2005-NC2

December 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	11/25/05		12/26/05		A-Act/360		61744CPR1		273,920,000.00		742.490648		2.901488		54.237660		57.139148	688.252988
A-1mz	11/25/05		12/26/05		A-Act/360		61744CPA8		68,481,000.00		742.490648		2.931188		54.237660		57.168848	688.252988
A-2ss	11/25/05		12/26/05		A-Act/360		61744CPS9		235,870,000.00		737.887609		2.883501		45.580207		48.463708	692.307402
A-2mz	11/25/05		12/26/05		A-Act/360		61744CPB6		58,968,000.00		737.887609		2.913016		45.580207		48.493223	692.307402
A-3a	11/25/05		12/26/05		A-Act/360		61744CPC4		315,000,000.00		565.010805		2.145158		54.694282		56.839439	510.316523
A-3b	11/25/05		12/26/05		A-Act/360		61744CPD2		109,586,000.00		1,000.000000		3.885556		0.000000		3.885556	1,000.000000
A-3c	11/25/05		12/26/05		A-Act/360		61744CPE0		92,500,000.00		1,000.000000		4.010000		0.000000		4.010000	1,000.000000
A-3mz	11/25/05		12/26/05		A-Act/360		61744CPF7		57,454,000.00		735.011978		2.908197		33.318827		36.227024	701.693151
M-1	11/25/05		12/26/05		A-Act/360		61744CPG5		48,771,000.00		1,000.000000		4.072222		0.000000		4.072222	1,000.000000
M-2	11/25/05		12/26/05		A-Act/360		61744CPH3		44,269,000.00		1,000.000000		4.098889		0.000000		4.098889	1,000.000000
M-3	11/25/05		12/26/05		A-Act/360		61744CPJ9		24,761,000.00		1,000.000000		4.125556		0.000000		4.125556	1,000.000000
M-4	11/25/05		12/26/05		A-Act/360		61744CPK6		27,012,000.00		1,000.000000		4.267778		0.000000		4.267778	1,000.000000
M-5	11/25/05		12/26/05		A-Act/360		61744CPL4		23,260,000.00		1,000.000000		4.294445		0.000000		4.294445	1,000.000000
M-6	11/25/05		12/26/05		A-Act/360		61744CPM2		22,510,000.00		1,000.000000		4.338889		0.000000		4.338889	1,000.000000
B-1	11/25/05		12/26/05		A-Act/360		61744CPN0		18,758,000.00		1,000.000000		4.765555		0.000000		4.765555	1,000.000000
B-2	11/25/05		12/26/05		A-Act/360		61744CPP5		17,258,000.00		1,000.000000		4.881111		0.000000		4.881111	1,000.000000
B-3	11/25/05		12/26/05		A-Act/360		61744CPQ3		16,507,000.00		1,000.000000		5.281111		0.000000		5.281111	1,000.000000
X	11/25/05		12/26/05				45,770,452.00		999.989934		41.127684		0.000000		41.127684		999.989934
P	11/25/05		12/24/05				0.00		0.000000		0.000000		0.000000		0.000000		0.000000
R	11/25/05		12/24/05				0.00		0.000000		0.000000		0.000000		0.000000		0.000000




Page 3 of 34
Morgan Stanley ABS Capital I Inc. 2005-NC2

Mortgage Pass-Through Certificates

2005-NC2

December 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		6,100,476.19		83,636,866.85		1,756,874.61		85,393,741.47		91,494,217.66		0.00		0.00		188,526,258.53
A-1mz	68,481,000.00		1,543,420.05		20,909,522.05		439,225.07		21,348,747.12		22,892,167.17		0.00		0.00		47,132,252.88
A-2ss	235,870,000.00		5,260,587.93		71,106,599.11		1,468,854.02		72,575,453.12		77,836,041.05		0.00		0.00		163,294,546.88
A-2mz	58,968,000.00		1,330,926.44		17,776,800.51		367,216.62		18,144,017.12		19,474,943.56		0.00		0.00		40,823,982.88
A-3a	315,000,000.00		5,998,119.90		150,879,492.03		3,370,803.25		154,250,295.28		160,248,415.18		0.00		0.00		160,749,704.72
A-3b	109,586,000.00		2,776,601.85		0.00		0.00		0.00		2,776,601.85		0.00		0.00		109,586,000.00
A-3c	92,500,000.00		2,430,743.32		0.00		374,533.69		0.00		2,430,743.32		0.00		0.00		92,500,000.00
A-3mz	57,454,000.00		1,280,790.82		16,764,388.00		0.00		17,138,921.69		18,419,712.51		0.00		0.00		40,315,078.31
M-1	48,771,000.00		1,304,568.73		0.00		0.00		0.00		1,304,568.73		0.00		0.00		48,771,000.00
M-2	44,269,000.00		1,193,072.94		0.00		0.00		0.00		1,193,072.94		0.00		0.00		44,269,000.00
M-3	24,761,000.00		672,315.50		0.00		0.00		0.00		672,315.50		0.00		0.00		24,761,000.00
M-4	27,012,000.00		762,488.00		0.00		0.00		0.00		762,488.00		0.00		0.00		27,012,000.00
M-5	23,260,000.00		661,268.25		0.00		0.00		0.00		661,268.25		0.00		0.00		23,260,000.00
M-6	22,510,000.00		647,512.05		0.00		0.00		0.00		647,512.05		0.00		0.00		22,510,000.00
B-1	18,758,000.00		600,109.59		0.00		0.00		0.00		600,109.59		0.00		0.00		18,758,000.00
B-2	17,258,000.00		567,202.88		0.00		0.00		0.00		567,202.88		0.00		0.00		17,258,000.00
B-3	16,507,000.00		592,454.12		0.00		0.00		0.00		592,454.12		0.00		0.00		16,507,000.00
X	45,770,452.00		25,683,844.80		444.60		16.14		460.71		25,684,305.51		0.00		0.00		45,769,991.29
P	0.00		6,438,151.86		0.00		0.00		0.00		6,438,151.86		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		65,844,655.22		361,074,113.15		7,777,523.40		368,851,636.51		434,696,291.73		0.00		0.00		1,131,803,815.49



Page 4 of 34
Morgan Stanley ABS Capital I Inc. 2005-NC2

Mortgage Pass-Through Certificates

2005-NC2

December 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	4.39625%		203,383,038.33		794,775.72		0.00		0.00		0.00		794,775.72		794,775.72		0.00
A-1mz	4.44125%		50,846,502.07		200,730.69		0.00		0.00		0.00		200,730.69		200,730.69		0.00
A-2ss	4.39625%		174,045,550.24		680,131.33		0.00		0.00		0.00		680,131.33		680,131.33		0.00
A-2mz	4.44125%		43,511,756.51		171,774.75		0.00		0.00		0.00		171,774.75		171,774.75		0.00
A-3a	4.27125%		177,978,403.46		675,724.67		0.00		0.00		0.00		675,724.67		675,724.67		0.00
A-3b	4.37125%		109,586,000.00		425,802.49		0.00		0.00		0.00		425,802.49		425,802.49		0.00
A-3c	4.51125%		92,500,000.00		370,925.00		0.00		0.00		0.00		370,925.00		370,925.00		0.00
A-3mz	4.45125%		42,229,378.17		167,087.57		0.00		0.00		0.00		167,087.57		167,087.57		0.00
M-1	4.58125%		48,771,000.00		198,606.35		0.00		0.00		0.00		198,606.35		198,606.35		0.00
M-2	4.61125%		44,269,000.00		181,453.71		0.00		0.00		0.00		181,453.71		181,453.71		0.00
M-3	4.64125%		24,761,000.00		102,152.88		0.00		0.00		0.00		102,152.88		102,152.88		0.00
M-4	4.80125%		27,012,000.00		115,281.21		0.00		0.00		0.00		115,281.21		115,281.21		0.00
M-5	4.83125%		23,260,000.00		99,888.78		0.00		0.00		0.00		99,888.78		99,888.78		0.00
M-6	4.88125%		22,510,000.00		97,668.39		0.00		0.00		0.00		97,668.39		97,668.39		0.00
B-1	5.36125%		18,758,000.00		89,392.29		0.00		0.00		0.00		89,392.29		89,392.29		0.00
B-2	5.49125%		17,258,000.00		84,238.22		0.00		0.00		0.00		84,238.22		84,238.22		0.00
B-3	5.94125%		16,507,000.00		87,175.30		0.00		0.00		0.00		87,175.30		87,175.30		0.00
X	46.26911%		45,769,991.29		0.00		0.00		0.00		0.00		0.00		1,882,432.70		0.00
P	0.00000%		0.00		0.00		0.00		0.00		0.00		0.00		918,694.07		0.00
R	0.00000%		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00


Total			1,182,956,620.07		4,542,809.35		0.00		0.00		0.00		4,542,809.35		7,343,936.12		0.00



Page 5 of 34
Morgan Stanley ABS Capital I Inc. 2005-NC2

Mortgage Pass-Through Certificates

2005-NC2

December 27, 2005 Distribution
Collection Account Report
SUMMARY

								Group 3		Group 2		Group 1		Total
Principal Collections								19,113,894.34		13,418,345.20		18,542,794.32		51,075,033.86
Principal Withrawals								0.00		0.00		0.00		0.00
Principal Other Accounts								0.00		0.00		0.00		0.00
TOTAL NET PRINCIPAL								19,113,894.34		13,418,345.20		18,542,794.32		51,075,033.86
Interest Collections								#######		1,618,750.75		1,870,646.84		6,574,566.63
Interest Withdrawals								-0.00		-106.44		-0.00		-106.44
Interest Other Accounts								320,227.39		249,882.67		348,584.01		918,694.07
Interest Fees								-29,846.56		-17,973.77		-23,627.09		-71,447.42
TOTAL NET INTEREST								3,375,549.87		1,850,553.21		2,195,603.76		7,421,706.84
TOTAL AVAILABLE FUNDS FOR DISTRIBUTION								22,489,444.21		15,268,898.41		20,738,398.08		58,496,740.70



PRINCIPAL - COLLECTIONS

									Group 3		Group 2		Group 1		Total
Scheduled Principal Received									407,758.11		230,029.30		231,982.92		869,770.33
Prepayments In Full									18,611,989.05		12,734,206.53		18,223,723.62		49,569,919.20
Curtailments									39,319.35		-26,608.77		25,576.16		38,286.74
Liquidations									97,091.84		0.00		97,018.31		194,110.15
Insurance Principal									0.00		0.00		0.00		0.00
Repurchased Principal Amounts									0.00		480,718.14		0.00		480,718.14
Other Principal									0.00		0.00		0.00		0.00
Total Realized Loss Of Principal									-42,264.01		-0.00		-35,506.69		-77,770.70
Delinquent Principal									-365,984.86		-207,472.79		-202,431.00		-775,888.65
Advanced Principal									365,984.86		207,472.79		202,431.00		775,888.65
TOTAL PRINCIPAL COLLECTED									19,113,894.34		13,418,345.20		18,542,794.32		51,075,033.86


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 34
Morgan Stanley ABS Capital I Inc. 2005-NC2

Mortgage Pass-Through Certificates

2005-NC2

December 27, 2005 Distribution

INTEREST - COLLECTIONS

								Group 3		Group 2		Group 1		Total
Scheduled Interest								3,289,061.00		1,718,430.18		1,987,152.57		6,994,643.75
Liquidation Interest								697.85		0.00		614.45		1,312.30
Repurchased Interest								0.00		3,019.16		0.00		3,019.16
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								-54,647.01		-38,474.56		-61,639.99		-154,761.56
Compensating Interest								54,647.02		38,474.56		61,639.99		154,761.57
Delinquent Interest								-2,891,533.22		-1,476,544.07		-1,667,350.36		-6,035,427.65
Interest Advanced								2,686,943.42		1,373,845.48		1,550,230.18		5,611,019.08
TOTAL INTEREST COLLECTED								3,085,169.04		1,618,750.75		1,870,646.84		6,574,566.63


INTEREST - WITHDRAWALS

								Group 3		Group 2		Group 1		Total
Nonrecoverable Advances														0.00
Interest Realized Loss														106.44



INTEREST - OTHER ACCOUNTS

								Group 3		Group 2		Group 1		Total
Prepayment Charges								320,227.39		249,882.67		348,584.01		918,694.07
TOTAL INTEREST OTHER ACCOUNTS								320,227.39		249,882.67		348,584.01		918,694.07



INTEREST - FEES

								Group 3		Group 2		Group 1		Total
Current Servicing Fees								28,448.33		17,254.06		22,787.64		68,490.03
Current Trustee Fees								1,398.23		719.72		839.45		2,957.39
TOTAL INTEREST OTHER FEES								29,846.56		17,973.77		23,627.09		71,447.42




Page 7 of 34
Morgan Stanley ABS Capital I Inc. 2005-NC2

Mortgage Pass-Through Certificates

2005-NC2

December 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														77,770.72
Subordinated Release Amount														0.00




Page 8 of 34
Morgan Stanley ABS Capital I Inc. 2005-NC2

Mortgage Pass-Through Certificates

2005-NC2

December 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								2,730		1,686		2,105		6,521
Prefunding								0		0		0		0
Scheduled Paid Offs								-0		-0		-0		-0
Full Voluntary Prepayments								-89		-64		-87		-240
Repurchases								-0		-6		-0		-6
Liquidations								-1		-0		-1		-2
Current								2,640		1,616		2,017		6,273
Principal Balance:


Original								699,214,488.70		365,124,050.84		424,025,894.50		1,488,364,434.04
Prior								559,291,522.15		287,886,352.83		335,778,745.07		1,182,956,620.05
Prefunding								0.00		0.00		0.00		1,500,655,452.00
Scheduled Principal								-407,758.11		-230,029.30		-231,982.92		-869,770.33
Partial Prepayments								-39,319.35		(26,608.77)		-25,576.16		-38,286.74
Full Voluntary Prepayments								-18,611,989.05		-12,734,206.53		-18,223,723.62		-49,569,919.20
Repurchases								-0.00		-480,718.14		-0.00		-480,718.14
Liquidations								-97,091.84		-0.00		-97,018.31		-194,110.15
Current								540,135,363.80		274,468,007.63		317,200,444.06		1,131,803,815.49





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 34
Morgan Stanley ABS Capital I Inc. 2005-NC2

Mortgage Pass-Through Certificates

2005-NC2

December 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								7.05727%		7.17623%		7.10565%		7.09987%
Weighted Average Coupon Current								7.05841%		7.17554%		7.10385%		7.09981%
Weighted Average Months to Maturity Original								352		352		350		351
Weighted Average Months to Maturity Prior								346		345		343		345
Weighted Average Months to Maturity Current								345		344		342		344
Weighted Avg Remaining Amortization Term Original								352		352		350		351
Weighted Avg Remaining Amortization Term Prior								346		345		343		345
Weighted Avg Remaining Amortization Term Current								345		344		342		344
Weighted Average Seasoning Original								4.14		4.04		4.31		4.16
Weighted Average Seasoning Prior								10.12		10.05		10.31		10.16
Weighted Average Seasoning Current								11.12		11.05		11.31		11.16









Page 10 of 34
Morgan Stanley ABS Capital I Inc. 2005-NC2

Mortgage Pass-Through Certificates

2005-NC2

December 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								5.64677%		5.64005%		5.62576%		5.63928%
Weighted Average Margin Current								5.64563%		5.64278%		5.62501%		5.63918%
Weighted Average Max Rate Original								14.11075%		14.20442%		14.04261%		14.11394%
Weighted Average Max Rate Prior								14.07471%		14.15258%		14.01692%		14.07673%
Weighted Average Max Rate Current								14.07957%		14.15370%		14.01163%		14.07803%
Weighted Average Min Rate Original								7.11363%		7.20898%		7.04606%		7.11737%
Weighted Average Min Rate Prior								7.07679%		7.15568%		7.01939%		7.07915%
Weighted Average Min Rate Current								7.08175%		7.15693%		7.01422%		7.08057%
Weighted Average Cap Up Original								1.50000%		1.49772%		1.50163%		1.49992%
Weighted Average Cap Up Prior								1.49899%		1.49845%		1.50213%		1.49975%
Weighted Average Cap Up Current								1.49894%		1.49839%		1.50225%		1.49973%
Weighted Average Cap Down Original								1.50000%		1.49772%		1.50163%		1.49992%
Weighted Average Cap Down Prior								1.49899%		1.49845%		1.50213%		1.49975%
Weighted Average Cap Down Current								1.49894%		1.49839%		1.50225%		1.49973%




SERVICING FEES & ADVANCES

									Group 3		Group 2		Group 1		Total




Current Servicing Fees								28,448.33		17,254.06		22,787.64		68,490.03
Delinquent Servicing Fees								204,589.80		102,698.59		117,120.17		424,408.56
TOTAL SERVICING FEES								233,038.14		119,952.65		139,907.82		492,898.61


Compensating Interest								-54,647.02		-38,474.56		-61,639.99		-154,761.57
Delinquent Servicing Fees								-204,589.80		-102,698.59		-117,120.17		-424,408.56
COLLECTED SERVICING FEES								(26,198.68)		(21,220.50)		(38,852.35)		(86,271.53)


Aggregate Advances with respect to this Distribution								3,052,928.28		1,581,318.28		1,752,661.18		6,386,907.73





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														4.191250%
Libor For Next Period														4.378750%




Page 11 of 34
Morgan Stanley ABS Capital I Inc. 2005-NC2

Mortgage Pass-Through Certificates

2005-NC2

December 27, 2005 Distribution
Delinquency Report

	TOTAL
					< 1 PAYMENT		1 PAYMENT		2 PAYMENTS		3+ PAYMENTS		TOTAL
	DELINQUENT		Balance				30,934,984.42		12,687,150.32		6,603,313.75		50,225,448.49
			% Balance				2.73%		1.12%		0.58%		4.44%
			# Loans				193		93		41		327
			% # Loans				3.08%		1.48%		0.65%		5.21%
	FORECLOSURE		Balance		0.00		0.00		3,857,622.56		16,457,916.50		20,315,539.06
			% Balance		0.00%		0.00%		0.34%		1.45%		1.79%
			# Loans		0		0		24		101		125
			% # Loans		0.00%		0.00%		0.38%		1.61%		1.99%
	BANKRUPTCY		Balance		4,354,608.52		359,094.35		143,871.17		2,646,187.48		7,503,761.52
			% Balance		0.38%		0.03%		0.01%		0.23%		0.66%
			# Loans		25		3		1		23		52
			% # Loans		0.40%		0.05%		0.02%		0.37%		0.83%
	REO		Balance		0.00		0.00		0.00		2,361,627.15		2,361,627.15
			% Balance		0.00%		0.00%		0.00%		0.21%		0.21%
			# Loans		0		0		0		14		14
			% # Loans		0.00%		0.00%		0.00%		0.22%		0.22%
	TOTAL		Balance		4,354,608.52		31,294,078.77		16,688,644.05		28,069,044.88		80,406,376.22
			% Balance		0.38%		2.76%		1.47%		2.48%		7.10%
			# Loans		25		196		118		179		518
			% # Loans		0.40%		3.12%		1.88%		2.85%		8.26%








Page 12 of 34
Morgan Stanley ABS Capital I Inc. 2005-NC2

Mortgage Pass-Through Certificates

2005-NC2

December 27, 2005 Distribution


	GROUP 1
					< 1 PAYMENT		1 PAYMENT		2 PAYMENTS		3+ PAYMENTS		TOTAL
	DELINQUENT		Balance				8,199,012.44		3,947,881.07		1,165,598.31		13,312,491.82
			% Balance				2.58%		1.24%		0.37%		4.20%
			# Loans				57		30		10		97
			% # Loans				2.83%		1.49%		0.50%		4.81%
	FORECLOSURE		Balance		0.00		0.00		994,464.30		3,360,894.00		4,355,358.30
			% Balance		0.00%		0.00%		0.31%		1.06%		1.37%
			# Loans		0		0		5		27		32
			% # Loans		0.00%		0.00%		0.25%		1.34%		1.59%
	BANKRUPTCY		Balance		1,267,316.41		229,700.90		0.00		369,678.05		1,866,695.36
			% Balance		0.40%		0.07%		0.00%		0.12%		0.59%
			# Loans		8		2		0		4		14
			% # Loans		0.40%		0.10%		0.00%		0.20%		0.69%
	REO		Balance		0.00		0.00		0.00		887,067.09		887,067.09
			% Balance		0.00%		0.00%		0.00%		0.28%		0.28%
			# Loans		0		0		0		5		5
			% # Loans		0.00%		0.00%		0.00%		0.25%		0.25%
	TOTAL		Balance		1,267,316.41		8,428,713.34		4,942,345.37		5,783,237.45		20,421,612.57
			% Balance		0.40%		2.66%		1.56%		1.82%		6.44%
			# Loans		8		59		35		46		148
			% # Loans		0.40%		2.93%		1.74%		2.28%		7.34%










Page 13 of 34
Morgan Stanley ABS Capital I Inc. 2005-NC2

Mortgage Pass-Through Certificates

2005-NC2

December 27, 2005 Distribution

	GROUP 2
					< 1 PAYMENT		1 PAYMENT		2 PAYMENTS		3+ PAYMENTS		TOTAL
	DELINQUENT		Balance				7,807,595.46		4,138,568.67		1,198,938.80		13,145,102.93
			% Balance				2.84%		1.51%		0.44%		4.79%
			# Loans				48		26		8		82
			% # Loans				2.97%		1.61%		0.50%		5.07%
	FORECLOSURE		Balance		0.00		0.00		1,169,278.20		3,847,018.02		5,016,296.22
			% Balance		0.00%		0.00%		0.43%		1.40%		1.83%
			# Loans		0		0		6		26		32
			% # Loans		0.00%		0.00%		0.37%		1.61%		1.98%
	BANKRUPTCY		Balance		627,495.20		0.00		0.00		867,162.00		1,494,657.20
			% Balance		0.23%		0.00%		0.00%		0.32%		0.54%
			# Loans		7		0		0		7		14
			% # Loans		0.43%		0.00%		0.00%		0.43%		0.87%
	REO		Balance		0.00		0.00		0.00		692,608.68		692,608.68
			% Balance		0.00%		0.00%		0.00%		0.25%		0.25%
			# Loans		0		0		0		4		4
			% # Loans		0.00%		0.00%		0.00%		0.25%		0.25%
	TOTAL		Balance		627,495.20		7,807,595.46		5,307,846.87		6,605,727.50		20,348,665.03
			% Balance		0.23%		2.84%		1.93%		2.41%		7.41%
			# Loans		7		48		32		45		132
			% # Loans		0.43%		2.97%		1.98%		2.78%		8.17%










Page 14 of 34
Morgan Stanley ABS Capital I Inc. 2005-NC2

Mortgage Pass-Through Certificates

2005-NC2

December 27, 2005 Distribution

	GROUP 3
					< 1 PAYMENT		1 PAYMENT		2 PAYMENTS		3+ PAYMENTS		TOTAL
	DELINQUENT		Balance				14,928,376.52		4,600,700.58		4,238,776.64		23,767,853.74
			% Balance				2.76%		0.85%		0.78%		4.40%
			# Loans				88		37		23		148
			% # Loans				3.33%		1.40%		0.87%		5.61%
	FORECLOSURE		Balance		0.00		0.00		1,693,880.06		9,250,004.48		10,943,884.54
			% Balance		0.00%		0.00%		0.31%		1.71%		2.03%
			# Loans		0		0		13		48		61
			% # Loans		0.00%		0.00%		0.49%		1.82%		2.31%
	BANKRUPTCY		Balance		#######		129,393.45		143,871.17		1,409,347.43		4,142,408.96
			% Balance		0.46%		0.02%		0.03%		0.26%		0.77%
			# Loans		10		1		1		12		24
			% # Loans		0.38%		0.04%		0.04%		0.45%		0.91%
	REO		Balance		0.00		0.00		0.00		781,951.38		781,951.38
			% Balance		0.00%		0.00%		0.00%		0.14%		0.14%
			# Loans		0		0		0		5		5
			% # Loans		0.00%		0.00%		0.00%		0.19%		0.19%
	TOTAL		Balance		2,459,796.91		15,057,769.97		6,438,451.81		15,680,079.93		39,636,098.62
			% Balance		0.46%		2.79%		1.19%		2.90%		7.34%
			# Loans		10		89		51		88		238
			% # Loans		0.38%		3.37%		1.93%		3.33%		9.02%









Page 15 of 34
Morgan Stanley ABS Capital I Inc. 2005-NC2

Mortgage Pass-Through Certificates

2005-NC2

December 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
1936231 1
			122,000.00		121,519.95		01-Mar-2005		11.200%		MO - 76.25%		360		01-Feb-2005

1000306831 1			90,400.00		89,510.75		01-Mar-2005		6.700%		MI - 80.00%		360		01-Feb-2005
1000360317 1			78,000.00		77,624.43		01-Mar-2005		10.250%		MI - 100.00%		360		01-Feb-2005
1000385611 1			285,000.00		283,411.96		01-Mar-2005		9.550%		NC - 75.00%		360		01-Feb-2005
1000631944 1			315,000.00		315,000.00		01-Apr-2005		6.250%		CA - 88.73%		360		01-Mar-2005
1000412850 2			98,400.00		97,571.09		01-Apr-2005		7.500%		TX - 80.00%		360		01-Feb-2005
1000418355 2			50,400.00		50,085.54		01-Jul-2005		9.000%		MI - 90.00%		360		01-Feb-2005
1000449811 2			310,500.00		307,475.18		01-May-2005		6.750%		MI - 90.00%		360		01-Feb-2005
1000511155 2			240,000.00		237,476.87		01-Apr-2005		6.350%		TX - 80.00%		360		01-Feb-2005
1958755 3			51,775.00		51,350.91		01-Apr-2005		8.100%		OK - 95.00%		360		01-Jan-2005
1000494165 3			53,900.00		53,436.05		01-May-2005		8.400%		IN - 89.83%		360		01-Feb-2005
1000590881 3			68,850.00		68,297.89		01-Jul-2005		7.750%		MI - 85.00%		360		01-Feb-2005
1000595074 3			540,000.00		540,000.00		01-Apr-2005		7.150%		CO - 80.00%		360		01-Feb-2005
1000621697 3			69,300.00		68,866.53		01-May-2005		8.500%		MI - 90.00%		360		01-Mar-2005


TOTAL			2,373,525.00		2,361,627.15


Page 16 of 34
Morgan Stanley ABS Capital I Inc. 2005-NC2

Mortgage Pass-Through Certificates

2005-NC2

December 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
1908346 1
			270,000.00		267,583.14		01-Aug-2005		7.650%		CA - 77.14%		360		01-Jan-2005

1935729 1			109,600.00		108,835.54		01-Jul-2005		8.450%		OH - 80.00%		360		01-Feb-2005
1970180 1			108,000.00		108,000.00		01-Mar-2005		7.250%		WA - 80.00%		360		01-Jan-2005
1979442 1			216,000.00		213,396.62		01-May-2005		6.100%		AZ - 90.00%		360		01-Jan-2005
1983705 1			94,800.00		94,788.60		01-Aug-2005		7.150%		ID - 80.00%		360		01-Jan-2005
1000100483 1			90,000.00		89,537.40		01-Jul-2005		9.950%		MI - 75.00%		360		01-Feb-2005
1000126704 1			87,500.00		87,087.37		01-May-2005		10.350%		OH - 70.00%		360		01-Feb-2005
1000142679 1			84,000.00		83,357.51		01-May-2005		8.000%		FL - 75.00%		360		01-Feb-2005
1000160827 1			92,000.00		91,177.87		01-May-2005		8.175%		NC - 80.00%		360		01-Jan-2005
1000166322 1			185,000.00		183,127.55		01-May-2005		6.550%		OH - 84.09%		360		01-Feb-2005
1000189067 1			328,500.00		328,500.00		01-Aug-2005		7.200%		CA - 90.00%		360		01-Feb-2005
1000207261 1			126,500.00		125,138.84		01-May-2005		6.700%		MI - 78.09%		360		01-Jan-2005
1000276908 1			218,500.00		216,193.48		01-Aug-2005		6.800%		CA - 95.00%		360		01-Jan-2005
1000284169 1			155,400.00		154,880.03		01-May-2005		11.950%		MI - 70.00%		360		01-Feb-2005
1000290660 1			180,000.00		177,575.12		01-Apr-2005		5.500%		DE - 80.00%		360		01-Jan-2005
1000315723 1			121,000.00		119,703.68		01-Jul-2005		6.250%		CA - 60.41%		360		01-Feb-2005
1000324786 1			58,500.00		58,075.15		01-Apr-2005		8.250%		IN - 90.00%		360		01-Feb-2005
1000325302 1			322,200.00		318,876.38		01-Apr-2005		6.450%		NV - 65.76%		360		01-Feb-2005
1000328023 1			180,000.00		178,623.44		01-Jul-2005		7.990%		NV - 75.00%		360		01-Feb-2005
1000336577 1			124,000.00		122,605.03		01-Jul-2005		5.990%		UT - 80.00%		360		01-Feb-2005
1000338156 1			88,350.00		87,399.08		01-Aug-2005		6.500%		OH - 93.00%		360		01-Feb-2005
1000372402 1			80,000.00		79,530.53		01-May-2005		9.300%		OH - 80.00%		360		01-Feb-2005
1000373991 1			129,600.00		128,831.74		01-Jul-2005		9.250%		MI - 90.00%		360		01-Feb-2005
1000407731 1			119,120.00		119,119.21		01-Jul-2005		6.500%		CO - 80.00%		360		01-Feb-2005
1000430750 1			198,000.00		198,000.00		01-Apr-2005		7.450%		CA - 90.00%		360		01-Feb-2005
1000443041 1			52,000.00		51,716.16		01-Mar-2005		9.650%		OH - 80.00%		360		01-Feb-2005
1000444237 1			133,200.00		132,077.70		01-Mar-2005		7.500%		CO - 90.00%		360		01-Feb-2005
1000452637 1			68,400.00		68,014.73		01-Jun-2005		9.500%		TN - 90.00%		360		01-Feb-2005
1000481044 1			104,310.00		104,309.96		01-Jun-2005		7.700%		SC - 90.00%		360		01-Feb-2005
1000487413 1			92,000.00		91,646.90		01-Jun-2005		10.850%		FL - 80.00%		360		01-Mar-2005
1000522535 1			86,000.00		85,999.98		01-Jul-2005		7.813%		NC - 77.48%		360		01-Feb-2005
1000614008 1			82,400.00		81,649.56		01-Jul-2005		7.100%		AR - 80.00%		360		01-Feb-2005
1973935 2			101,600.00		100,749.53		01-May-2005		7.990%		OR - 80.00%		360		01-Jan-2005
1974667 2			86,250.00		85,783.64		01-Jun-2005		9.700%		TN - 75.00%		360		01-Feb-2005
1974720 2			262,800.00		261,003.54		01-May-2005		8.550%		AK - 90.00%		360		01-Feb-2005
1980711 2			50,000.00		49,681.62		01-Jul-2005		8.900%		CA - 47.62%		360		01-Feb-2005
1000145943 2			89,100.00		87,764.41		01-Jun-2005		7.400%		FL - 90.00%		360		01-Jan-2005
1000171138 2			120,000.00		118,782.50		01-Jun-2005		6.550%		FL - 80.00%		360		01-Feb-2005
1000192295 2			155,550.00		154,476.39		01-May-2005		8.950%		SC - 85.00%		360		01-Jan-2005
1000210328 2			208,800.00		206,361.83		01-Jul-2005		5.875%		CA - 80.00%		360		01-Feb-2005
1000227524 2			248,000.00		247,999.97		01-Aug-2005		6.200%		CA - 80.00%		360		01-Feb-2005
1000384783 2			185,000.00		182,662.87		01-Aug-2005		5.490%		CA - 68.52%		360		01-Feb-2005
1000399713 2			306,850.00		304,265.24		01-Mar-2005		7.500%		WI - 95.00%		360		01-Feb-2005
1000410718 2			154,000.00		152,215.45		01-Jul-2005		6.200%		MA - 80.00%		360		01-Feb-2005
1000415982 2			144,000.00		142,457.18		01-Jun-2005		6.250%		MI - 80.00%		360		01-Feb-2005
1000432035 2			113,900.00		113,278.29		01-Apr-2005		9.650%		NE - 85.00%		360		01-Feb-2005
1000436371 2			275,000.00		273,419.36		01-Jun-2005		9.400%		DC - 42.70%		360		01-Feb-2005
1000438903 2			164,000.00		162,577.33		01-Jul-2005		7.350%		GA - 80.00%		360		01-Feb-2005
1000463812 2			85,500.00		84,650.99		01-Apr-2005		6.650%		CO - 89.06%		360		01-Feb-2005


Page 17 of 34
Morgan Stanley ABS Capital I Inc. 2005-NC2

Mortgage Pass-Through Certificates

2005-NC2

December 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
1000479244 2
			211,400.00		209,530.07		01-Jul-2005		7.250%		CO - 69.31%		360		01-Feb-2005

1000484069 2			135,191.00		134,004.08		01-Jul-2005		7.650%		MN - 80.00%		360		01-Feb-2005
1000524828 2			114,500.00		113,449.35		01-May-2005		6.550%		ME - 89.45%		360		01-Mar-2005
1000546163 2			220,000.00		217,794.46		01-Aug-2005		6.600%		RI - 93.62%		360		01-Feb-2005
1000561323 2			164,000.00		162,772.40		01-Mar-2005		7.600%		FL - 80.00%		360		01-Mar-2005
1000561403 2			41,000.00		40,486.97		01-Mar-2005		10.700%		FL - 20.00%		240		01-Mar-2005
1000566989 2			138,700.00		137,227.98		01-Jun-2005		6.300%		IL - 72.24%		360		01-Feb-2005
1000575719 2			245,000.00		243,111.45		01-Jul-2005		7.950%		CA - 84.48%		360		01-Feb-2005
1000576950 2			104,000.00		102,848.47		01-Jun-2005		6.075%		CA - 80.00%		360		01-Feb-2005
1000586100 2			146,700.00		145,535.01		01-Aug-2005		7.800%		IL - 90.00%		360		01-Feb-2005
1000587706 2			173,000.00		172,004.65		01-Jun-2005		9.400%		OH - 100.00%		360		01-Feb-2005
1000588322 2			149,899.00		148,914.10		01-Jun-2005		8.750%		TN - 90.00%		360		01-Feb-2005
1000588965 2			196,000.00		194,349.32		01-Aug-2005		7.725%		IL - 80.00%		360		01-Feb-2005
1000597410 2			85,850.00		85,201.20		01-Apr-2005		8.050%		MN - 85.00%		360		01-Feb-2005
1000621660 2			182,208.00		180,936.57		01-Aug-2005		8.450%		WA - 80.00%		360		01-Feb-2005
1836206 3			276,250.00		274,045.69		01-Jun-2005		8.650%		NY - 85.00%		360		01-Dec-2004
1853821 3			60,000.00		59,432.35		01-Jun-2005		7.100%		MN - 52.17%		360		01-Feb-2005
1869400 3			153,000.00		151,415.58		01-Aug-2005		6.900%		IL - 85.00%		360		01-Jan-2005
1885479 3			56,000.00		55,642.15		01-May-2005		9.300%		KS - 70.00%		360		01-Feb-2005
1935283 3			190,000.00		188,833.53		01-Jul-2005		9.300%		RI - 95.00%		360		01-Feb-2005
1936655 3			103,200.00		102,259.58		01-Jul-2005		7.300%		IA - 80.00%		360		01-Feb-2005
1937598 3			160,650.00		159,197.61		01-Jul-2005		7.900%		IL - 85.00%		360		01-Jan-2005
1945869 3			147,950.00		146,839.59		01-Jun-2005		8.950%		WA - 79.97%		360		01-Dec-2004
1946990 3			48,750.00		48,343.35		01-Jun-2005		7.550%		TX - 75.00%		360		01-Feb-2005
1953580 3			445,500.00		441,856.22		01-Jun-2005		7.650%		NY - 90.00%		360		01-Feb-2005
1953816 3			128,775.00		127,801.48		01-Aug-2005		8.500%		NM - 85.00%		360		01-Jan-2005
1962031 3			291,992.00		288,165.58		01-Jun-2005		5.650%		HI - 80.00%		360		01-Jan-2005
1978216 3			70,975.00		70,414.02		01-May-2005		7.825%		NM - 85.00%		360		01-Feb-2005
1981601 3			126,000.00		124,812.44		01-Jul-2005		6.950%		TX - 90.00%		360		01-Feb-2005
1985553 3			288,000.00		285,525.99		01-Aug-2005		7.400%		TX - 80.00%		360		01-Feb-2005
1987460 3			59,500.00		59,063.58		01-Mar-2005		8.200%		PA - 85.00%		360		01-Feb-2005
1990886 3			108,000.00		107,276.40		01-Jun-2005		8.650%		IN - 80.00%		360		01-Feb-2005
1997314 3			50,000.00		48,955.48		01-Jun-2005		7.340%		TX - 78.13%		240		01-Feb-2005
2004239 3			136,800.00		135,706.59		01-Jul-2005		8.400%		TX - 90.00%		360		01-Feb-2005
1000137417 3			76,800.00		76,225.22		01-Jul-2005		8.550%		OK - 80.00%		360		01-Jan-2005
1000191526 3			220,500.00		218,842.05		01-May-2005		8.075%		NJ - 90.00%		360		01-Feb-2005
1000193980 3			50,000.00		49,511.38		01-May-2005		7.200%		OK - 71.43%		360		01-Jan-2005
1000239423 3			305,100.00		302,651.95		01-Aug-2005		7.750%		CT - 90.00%		360		01-Feb-2005
1000242446 3			107,250.00		106,567.90		01-Apr-2005		9.350%		FL - 67.45%		360		01-Jan-2005
1000251113 3			86,400.00		85,706.81		01-Jun-2005		7.750%		OH - 80.00%		360		01-Feb-2005
1000270263 3			476,000.00		471,789.75		01-Jul-2005		7.250%		NJ - 85.00%		360		01-Feb-2005
1000342793 3			88,900.00		88,082.49		01-Aug-2005		7.050%		OH - 70.00%		360		01-Feb-2005
1000352576 3			97,470.00		96,582.41		01-Aug-2005		7.100%		TN - 95.00%		360		01-Feb-2005
1000367659 3			90,000.00		89,372.22		01-Apr-2005		8.450%		FL - 90.00%		360		01-Feb-2005
1000381857 3			262,800.00		262,800.00		01-Jul-2005		7.900%		CA - 90.00%		360		01-Feb-2005
1000388770 3			63,750.00		63,352.34		01-May-2005		9.100%		AL - 85.00%		360		01-Feb-2005
1000391604 3			86,000.00		85,405.31		01-Aug-2005		8.000%		VA - 68.80%		360		01-Mar-2005
1000393005 3			420,000.00		415,986.25		01-Mar-2005		6.850%		MN - 80.00%		360		01-Feb-2005
1000401149 3			50,000.00		49,664.99		01-Mar-2005		8.650%		KY - 66.67%		360		01-Feb-2005
1000406572 3			67,050.00		66,500.59		01-Jun-2005		8.200%		OH - 90.00%		360		01-Feb-2005
1000407018 3			613,000.00		606,359.83		01-Jun-2005		6.350%		CA - 79.10%		360		01-Feb-2005


Page 18 of 34
Morgan Stanley ABS Capital I Inc. 2005-NC2

Mortgage Pass-Through Certificates

2005-NC2

December 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
1000428950 3
			607,500.00		601,467.54		01-May-2005		6.650%		NV - 90.00%		360		01-Feb-2005

1000431241 3			292,000.00		289,072.59		01-May-2005		6.600%		CA - 80.00%		360		01-Feb-2005
1000432357 3			112,500.00		111,485.31		01-Mar-2005		7.150%		IN - 90.00%		360		01-Feb-2005
1000436852 3			418,500.00		418,499.96		01-Jul-2005		6.750%		CA - 90.00%		360		01-Feb-2005
1000441276 3			367,200.00		363,784.18		01-Jun-2005		6.990%		CO - 80.00%		360		01-Feb-2005
1000445824 3			436,500.00		436,500.00		01-Jun-2005		6.600%		CA - 90.00%		360		01-Feb-2005
1000535497 3			75,600.00		75,028.66		01-Jul-2005		8.050%		MI - 90.00%		360		01-Feb-2005
1000544405 3			77,000.00		76,579.93		01-Apr-2005		9.700%		MI - 70.00%		360		01-Feb-2005
1000544744 3			500,000.00		495,817.44		01-Jul-2005		7.600%		NY - 71.94%		360		01-Feb-2005
1000546715 3			52,500.00		52,201.30		01-May-2005		9.450%		GA - 75.00%		360		01-Feb-2005
1000554073 3			139,750.00		139,196.17		01-Aug-2005		10.700%		OH - 65.00%		360		01-Mar-2005
1000563786 3			62,910.00		62,448.58		01-Aug-2005		8.200%		OH - 90.00%		360		01-Feb-2005
1000565392 3			127,800.00		126,984.33		01-Aug-2005		8.400%		MI - 90.00%		360		01-Mar-2005
1000568460 3			399,500.00		396,924.42		01-Jul-2005		8.350%		MI - 85.00%		360		01-Mar-2005
1000579092 3			116,800.00		115,968.72		01-May-2005		8.350%		MI - 80.00%		360		01-Feb-2005
1000588108 3			141,000.00		139,728.19		01-Mar-2005		7.150%		KY - 64.98%		360		01-Feb-2005
1000592344 3			92,000.00		91,141.65		01-Jun-2005		6.975%		TX - 80.00%		360		01-Feb-2005
1000604643 3			94,000.00		93,419.49		01-Apr-2005		9.050%		OH - 72.31%		360		01-Feb-2005
1000606053 3			75,000.00		74,605.17		01-Apr-2005		9.450%		OH - 75.00%		360		01-Mar-2005
1000607766 3			72,800.00		72,502.13		01-Aug-2005		10.550%		MI - 80.00%		360		01-Mar-2005
1000622892 3			81,600.00		81,075.04		01-Aug-2005		8.850%		TN - 80.00%		360		01-Feb-2005
1000631971 3			74,700.00		74,208.60		01-Aug-2005		8.250%		MI - 90.00%		360		01-Mar-2005
1000639937 3			259,500.00		258,033.70		01-Jun-2005		9.000%		NY - 64.88%		360		01-Mar-2005
1000645387 3			55,900.00		55,577.61		01-Jun-2005		8.900%		PA - 79.97%		360		01-Mar-2005
1000650913 3			230,720.00		230,645.13		01-Apr-2005		7.750%		MN - 80.00%		360		01-Feb-2005


TOTAL			20,468,320.00		20,315,539.06


Page 19 of 34
Morgan Stanley ABS Capital I Inc. 2005-NC2

Mortgage Pass-Through Certificates

2005-NC2

December 27, 2005 Distribution
Prepayment Report

VOLUNTARY PREPAYMENTS


									Group 3		Group 2		Group 1		Total




Current


Number of Paid in Full Loans								89		64		87		240
Number of Repurchased Loans								0		6		0		6
Total Number of Loans Prepaid in Full								89		70		87		246
Curtailments Amount								39,319.35		-26,608.77		25,576.16		38,286.74
Paid in Full Balance								18,611,989.05		12,734,206.53		18,223,723.62		49,569,919.20
Repurchased Loans Balance								0.00		480,718.14		0.00		480,718.14
Total Prepayment Amount								18,651,308.40		13,188,315.90		18,249,299.78		50,088,924.08

Cumulative


Number of Paid in Full Loans								612		449		523		1,584
Number of Repurchased Loans								1		8		0		9
Total Number of Loans Prepaid in Full								613		457		523		1,593
Paid in Full Balance								154,779,796.49		87,761,415.62		104,111,254.64		346,652,466.75
Repurchased Loans Balance								333,608.16		718,480.96		0.00		1,052,089.12
Curtailments Amount								225,503.20		95,663.23		172,411.56		493,577.99
Total Prepayment Amount								155,338,907.85		88,575,559.81		104,283,666.20		348,198,133.86










Page 20 of 34
Morgan Stanley ABS Capital I Inc. 2005-NC2

Mortgage Pass-Through Certificates

2005-NC2

December 27, 2005 Distribution

VOLUNTARY PREPAYMENTS RATES


									Group 3		Group 2		Group 1		Total



SMM								3.35%		4.58%		5.47%		4.25%
3 Months Avg SMM								3.60%		4.26%		4.43%		4.00%
12 Months Avg SMM								3.11%		3.43%		3.50%		3.30%
Avg SMM Since Cut-off								3.11%		3.43%		3.50%		3.30%


CPR								33.60%		43.06%		49.07%		40.64%
3 Months Avg CPR								35.61%		40.66%		41.96%		38.70%
12 Months Avg CPR								31.53%		34.21%		34.77%		33.11%
Avg CPR Since Cut-off								31.53%		34.21%		34.77%		33.11%


PSA								1,510.27%		1,949.12%		2,169.65%		1,821.55%
3 Months Avg PSA Approximation								1,758.75%		2,023.20%		2,034.87%		1,904.88%
12 Months Avg PSA Approximation								2,066.32%		2,266.94%		2,225.01%		2,161.32%
Avg PSA Since Cut-off Approximation								2,066.32%		2,266.94%		2,225.01%		2,161.32%










Page 21 of 34
Morgan Stanley ABS Capital I Inc. 2005-NC2

Mortgage Pass-Through Certificates

2005-NC2

December 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 22 of 34
Morgan Stanley ABS Capital I Inc. 2005-NC2

Mortgage Pass-Through Certificates

2005-NC2

December 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

1837201 1			52,000.00		51,618.57			21-Nov-2005		8.200%		OK - 80.00%		Paid Off - 360		01-Jan-2005

1840307 2			48,600.00		47,709.23			21-Nov-2005		10.100%		CT - 20.00%		Paid Off - 240		01-Nov-2004
1841055 3			32,800.00		32,216.46			14-Dec-2005		10.100%		FL - 20.00%		Paid Off - 240		01-Nov-2004
1862201 3			340,000.00		338,125.05			30-Nov-2005		9.600%		MD - 80.00%		Paid Off - 360		01-Jan-2005
1863566 1			306,000.00		305,931.14			30-Nov-2005		7.250%		CA - 85.00%		Paid Off - 300		01-Dec-2004
1865459 3			260,100.00		257,105.39			17-Nov-2005		7.175%		VA - 85.00%		Paid Off - 360		01-Nov-2004
1880358 1			200,000.00		198,216.74			01-Nov-2005		6.700%		CA - 67.57%		Paid Off - 360		01-Feb-2005
1893657 2			300,000.00		298,149.99			13-Dec-2005		9.500%		CA - 60.00%		Paid Off - 360		01-Dec-2004
1894562 3			368,000.00		368,000.00			08-Dec-2005		5.950%		CA - 80.00%		Paid Off - 360		01-Dec-2004
1908354 2			280,000.00		277,370.81			01-Nov-2005		6.550%		CA - 80.00%		Paid Off - 360		01-Feb-2005
1908958 2			83,600.00		82,698.87			17-Nov-2005		6.750%		CA - 40.19%		Paid Off - 360		01-Dec-2004
1910198 3			75,000.00		74,594.82			25-Nov-2005		9.700%		IL - 74.89%		Paid Off - 360		01-Jan-2005
1912874 2			192,000.00		190,984.28			09-Nov-2005		9.800%		CT - 75.59%		Paid Off - 360		01-Jan-2005
1914313 1			108,000.00		107,632.02			16-Nov-2005		6.550%		WA - 80.00%		Paid Off - 360		01-Jan-2005
1920763 1			261,000.00		261,000.00			23-Nov-2005		6.750%		CA - 90.00%		Paid Off - 360		01-Feb-2005
1922294 1			137,000.00		135,687.56			22-Nov-2005		7.300%		NY - 37.53%		Paid Off - 360		01-Dec-2004
1926355 2			159,200.00		159,157.33			04-Nov-2005		6.500%		CA - 80.00%		Paid Off - 360		01-Dec-2004
1931144 1			348,000.00		344,477.76			07-Nov-2005		6.550%		CA - 87.00%		Paid Off - 360		01-Jan-2005
1931897 1			153,000.00		151,709.90			04-Nov-2005		6.990%		WA - 85.00%		Paid Off - 360		01-Feb-2005
1934928 3			332,150.00		329,614.40			23-Nov-2005		7.500%		NY - 73.00%		Paid Off - 360		01-Feb-2005
1935453 1			346,500.00		343,251.81			25-Nov-2005		6.950%		NY - 88.85%		Paid Off - 360		01-Jan-2005
1939671 1			288,000.00		284,885.36			22-Nov-2005		6.200%		CA - 80.00%		Paid Off - 360		01-Jan-2005
1940060 3			320,000.00		316,891.51			03-Nov-2005		6.250%		CA - 80.00%		Paid Off - 360		01-Feb-2005
1941653 2			172,350.00		170,193.23			15-Nov-2005		7.725%		NY - 90.00%		Paid Off - 360		01-Jan-2005
1942127 1			510,000.00		506,474.73			08-Nov-2005		8.500%		MA - 85.00%		Paid Off - 360		01-Jan-2005
1946000 3			139,750.00		136,338.39			16-Nov-2005		6.000%		NJ - 65.00%		Paid Off - 240		01-Jan-2005
1950368 1			368,900.00		366,152.27			09-Nov-2005		7.625%		CA - 85.00%		Paid Off - 360		01-Feb-2005
1953141 1			143,900.00		142,842.78			10-Nov-2005		7.750%		AZ - 89.99%		Paid Off - 360		01-Feb-2005
1954229 1			176,000.00		174,574.40			22-Nov-2005		7.700%		CA - 61.75%		Paid Off - 360		01-Jan-2005
1959832 3			157,500.00		156,795.69			07-Nov-2005		10.600%		NJ - 70.00%		Paid Off - 360		01-Jan-2005
1959903 2			204,000.00		201,486.76			07-Nov-2005		5.500%		CA - 80.00%		Paid Off - 360		01-Jan-2005
1961099 1			114,750.00		113,577.36			15-Nov-2005		6.500%		CA - 85.00%		Paid Off - 360		01-Jan-2005
1964000 2			169,600.00		167,497.81			01-Nov-2005		5.550%		WA - 80.00%		Paid Off - 360		01-Jan-2005
1964598 1			144,500.00		143,026.98			21-Nov-2005		6.750%		CA - 85.00%		Paid Off - 360		01-Jan-2005
1967397 1			61,600.00		60,193.35			01-Nov-2005		7.450%		TX - 80.00%		Paid Off - 240		01-Feb-2005
1967571 3			105,750.00		104,762.99			09-Nov-2005		6.650%		NV - 66.09%		Paid Off - 360		01-Feb-2005
1968168 1			195,500.00		193,556.32			02-Nov-2005		6.950%		CA - 85.00%		Paid Off - 360		01-Jan-2005
1968762 3			117,000.00		115,976.57			17-Nov-2005		6.800%		CT - 83.57%		Paid Off - 360		01-Feb-2005
1968984 2			129,500.00		128,838.41			15-Nov-2005		9.490%		CA - 70.00%		Paid Off - 360		01-Feb-2005
1969137 3			85,000.00		83,247.29			07-Nov-2005		7.450%		MO - 79.44%		Paid Off - 240		01-Jan-2005
1969991 2			234,000.00		231,598.32			07-Nov-2005		6.500%		MD - 90.00%		Paid Off - 360		01-Jan-2005


Page 23 of 34
Morgan Stanley ABS Capital I Inc. 2005-NC2

Mortgage Pass-Through Certificates

2005-NC2

December 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

1971486 1			136,500.00		135,517.82			30-Nov-2005		7.800%		CA - 70.00%		Paid Off - 360		01-Feb-2005

1971592 3			486,000.00		481,174.07			08-Nov-2005		6.650%		CA - 90.00%		Paid Off - 360		01-Jan-2005
1973029 1			126,320.00		126,227.38			15-Nov-2005		6.950%		CA - 80.00%		Paid Off - 360		01-Jan-2005
1973249 3			248,000.00		245,745.96			17-Nov-2005		6.600%		NJ - 67.03%		Paid Off - 360		01-Feb-2005
1975561 1			117,600.00		116,151.17			16-Nov-2005		5.500%		FL - 80.00%		Paid Off - 360		01-Jan-2005
1978449 2			126,000.00		124,907.08			07-Nov-2005		7.350%		CA - 90.00%		Paid Off - 360		01-Jan-2005
1979089 3			192,750.00		191,591.67			02-Nov-2005		8.700%		DC - 75.00%		Paid Off - 360		01-Feb-2005
1980485 3			99,000.00		98,281.15			21-Nov-2005		8.250%		FL - 60.74%		Paid Off - 360		01-Jan-2005
1981765 1			157,250.00		155,918.09			03-Nov-2005		7.500%		CO - 85.00%		Paid Off - 360		01-Jan-2005
1985521 3			157,600.00		156,260.84			22-Nov-2005		6.950%		MN - 80.00%		Paid Off - 360		01-Feb-2005
1989252 3			106,250.00		105,485.03			23-Nov-2005		7.800%		FL - 85.00%		Paid Off - 360		01-Feb-2005
1989478 1			107,100.00		106,644.48			04-Nov-2005		10.550%		FL - 70.00%		Paid Off - 360		01-Feb-2005
1991186 2			129,000.00		127,683.97			01-Nov-2005		5.990%		CA - 56.33%		Paid Off - 360		01-Feb-2005
1991258 1			78,800.00		78,362.89			23-Nov-2005		9.200%		IL - 80.00%		Paid Off - 360		01-Feb-2005
1994400 1			225,000.00		224,991.32			23-Nov-2005		6.400%		NV - 90.00%		Paid Off - 360		01-Feb-2005
1994441 1			338,300.00		335,311.58			30-Nov-2005		6.800%		CA - 85.00%		Paid Off - 360		01-Feb-2005
1995885 3			54,000.00		53,031.73			02-Nov-2005		7.800%		LA - 75.00%		Paid Off - 240		01-Feb-2005
1998201 2			27,200.00		26,823.01			04-Nov-2005		9.900%		ID - 20.00%		Paid Off - 240		01-Feb-2005
1998222 3			285,000.00		282,908.41			25-Nov-2005		7.700%		RI - 95.00%		Paid Off - 360		01-Feb-2005
1999772 1			168,000.00		166,959.34			15-Nov-2005		8.550%		IL - 86.15%		Paid Off - 360		01-Feb-2005
2000906 3			102,425.00		101,688.04			29-Nov-2005		7.800%		AZ - 85.00%		Paid Off - 360		01-Feb-2005
2003246 1			300,000.00		298,049.17			01-Nov-2005		8.400%		VA - 75.00%		Paid Off - 360		01-Feb-2005
1000042634 2			49,500.00		48,569.21			02-Dec-2005		9.650%		CA - 20.00%		Paid Off - 240		01-Nov-2004
1000047853 1			351,000.00		348,185.19			10-Nov-2005		7.750%		CA - 90.00%		Paid Off - 360		01-Jan-2005
1000051142 1			238,500.00		235,685.40			02-Nov-2005		6.650%		CA - 90.00%		Paid Off - 360		01-Nov-2004
1000054185 3			62,800.00		62,378.75			23-Nov-2005		9.500%		CA - 20.00%		Paid Off - 360		01-Nov-2004
1000072245 2			176,000.00		174,482.35			09-Nov-2005		6.875%		FL - 80.00%		Paid Off - 360		01-Feb-2005
1000123048 2			286,200.00		283,927.43			18-Nov-2005		7.800%		NY - 90.00%		Paid Off - 360		01-Jan-2005
1000128490 1			117,000.00		115,881.89			09-Nov-2005		6.850%		FL - 90.00%		Paid Off - 360		01-Jan-2005
1000129202 1			55,000.00		53,740.69			09-Nov-2005		7.350%		FL - 80.29%		Paid Off - 240		01-Feb-2005
1000140421 2			320,000.00		316,537.77			04-Nov-2005		6.500%		MA - 70.02%		Paid Off - 360		01-Jan-2005
1000169070 1			128,000.00		128,000.00			04-Nov-2005		7.600%		FL - 80.00%		Paid Off - 360		01-Feb-2005
1000170031 2			261,600.00		259,543.33			15-Nov-2005		7.350%		AL - 80.00%		Paid Off - 360		01-Feb-2005
1000176259 3			144,000.00		142,992.18			03-Nov-2005		7.938%		DC - 90.00%		Paid Off - 360		01-Feb-2005
1000176847 1			301,000.00		298,392.41			09-Nov-2005		6.850%		NJ - 88.53%		Paid Off - 360		01-Feb-2005
1000180636 3			292,500.00		292,500.00			02-Nov-2005		7.800%		NJ - 90.00%		Paid Off - 360		01-Jan-2005
1000188978 3			90,000.00		89,249.24			23-Nov-2005		7.550%		FL - 63.38%		Paid Off - 360		01-Jan-2005
1000194300 2			178,820.00		177,099.30			01-Nov-2005		6.300%		IL - 81.32%		Paid Off - 360		01-Feb-2005
1000200106 3			173,400.00		172,347.72			02-Nov-2005		8.650%		MD - 85.00%		Paid Off - 360		#######
1000208135 3			112,500.00		111,234.32			16-Nov-2005		5.990%		FL - 53.57%		Paid Off - 360		01-Jan-2005
1000214832 3			328,000.00		324,613.03			29-Nov-2005		5.925%		FL - 80.00%		Paid Off - 360		01-Feb-2005
1000217198 1			193,120.00		191,783.79			23-Nov-2005		8.490%		CA - 80.00%		Paid Off - 360		01-Jan-2005
1000217303 1			242,250.00		242,177.97			23-Nov-2005		6.350%		FL - 85.00%		Paid Off - 360		01-Jan-2005


Page 24 of 34
Morgan Stanley ABS Capital I Inc. 2005-NC2

Mortgage Pass-Through Certificates

2005-NC2

December 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

1000221049 3			75,000.00		74,420.56			18-Nov-2005		7.850%		MI - 25.42%		Paid Off - 360		01-Feb-2005

1000222967 1			284,750.00		282,255.53			01-Nov-2005		7.300%		MD - 85.00%		Paid Off - 360		01-Jan-2005
1000226008 2			153,000.00		151,854.81			23-Nov-2005		7.600%		PA - 85.00%		Paid Off - 360		01-Feb-2005
1000228710 1			44,705.00		44,210.07			01-Nov-2005		11.650%		IL - 20.00%		Paid Off - 240		01-Feb-2005
1000231760 3			165,750.00		164,484.17			07-Nov-2005		7.500%		NJ - 65.00%		Paid Off - 360		01-Feb-2005
1000236408 3			55,400.00		55,142.84			10-Nov-2005		9.950%		CA - 20.00%		Paid Off - 360		01-Feb-2005
1000237568 1			147,200.00		145,984.93			29-Nov-2005		7.100%		FL - 80.00%		Paid Off - 360		01-Feb-2005
1000245363 1			328,000.00		325,036.46			03-Nov-2005		7.200%		CA - 80.00%		Paid Off - 360		01-Jan-2005
1000248119 2			262,000.00		259,719.76			22-Nov-2005		6.990%		CA - 59.14%		Paid Off - 360		01-Feb-2005
1000253068 1			320,400.00		317,303.54			23-Nov-2005		6.900%		MA - 90.00%		Paid Off - 360		01-Jan-2005
1000258731 1			278,770.00		275,731.24			01-Nov-2005		6.300%		CA - 88.50%		Paid Off - 360		01-Jan-2005
1000259259 1			328,000.00		324,435.05			08-Nov-2005		5.650%		CA - 86.32%		Paid Off - 360		01-Feb-2005
1000264733 3			310,500.00		307,855.48			15-Nov-2005		6.938%		OR - 90.00%		Paid Off - 360		01-Feb-2005
1000274303 2			355,120.00		351,497.29			30-Nov-2005		5.990%		CA - 80.00%		Paid Off - 360		01-Feb-2005
1000275936 3			212,000.00		211,942.41			17-Nov-2005		6.450%		CA - 80.00%		Paid Off - 360		01-Feb-2005
1000285060 1			292,500.00		290,599.86			01-Nov-2005		8.725%		CA - 74.05%		Paid Off - 360		01-Feb-2005
1000286577 1			208,000.00		207,992.60			29-Nov-2005		7.350%		IL - 80.00%		Paid Off - 360		01-Feb-2005
1000287923 1			154,800.00		153,350.43			09-Nov-2005		6.500%		HI - 80.00%		Paid Off - 360		01-Feb-2005
1000289440 3			123,000.00		122,026.50			01-Nov-2005		7.700%		MA - 61.50%		Paid Off - 360		01-Feb-2005
1000293462 3			378,450.00		377,942.90			03-Nov-2005		6.100%		CA - 90.00%		Paid Off - 360		01-Feb-2005
1000294728 3			264,000.00		261,964.78			21-Nov-2005		7.450%		NY - 66.84%		Paid Off - 360		01-Feb-2005
1000300917 1			350,100.00		346,861.84			02-Nov-2005		7.625%		MA - 90.00%		Paid Off - 360		01-Feb-2005
1000301033 1			290,000.00		287,504.13			09-Nov-2005		6.900%		HI - 75.32%		Paid Off - 360		01-Feb-2005
1000301916 2			315,000.00		312,164.35			23-Nov-2005		6.650%		CA - 68.63%		Paid Off - 360		01-Feb-2005
1000303843 1			232,000.00		229,520.84			23-Nov-2005		5.750%		CA - 80.00%		Paid Off - 360		01-Feb-2005
1000307279 3			376,000.00		376,000.00			04-Nov-2005		6.450%		CA - 80.00%		Paid Off - 360		01-Feb-2005
1000307849 1			384,750.00		381,783.95			25-Nov-2005		7.450%		IL - 90.00%		Paid Off - 360		01-Feb-2005
1000309222 1			328,100.00		324,743.85			09-Nov-2005		6.050%		CA - 85.00%		Paid Off - 360		01-Feb-2005
1000317954 1			270,000.00		268,294.04			15-Nov-2005		8.450%		CA - 74.59%		Paid Off - 360		01-Feb-2005
1000321636 2			22,600.00		22,315.37			22-Nov-2005		10.650%		MI - 20.00%		Paid Off - 240		01-Feb-2005
1000328988 1			305,000.00		292,706.79			02-Nov-2005		7.050%		MD - 89.97%		Paid Off - 360		01-Feb-2005
1000337781 1			89,000.00		88,175.43			09-Nov-2005		6.500%		OH - 84.76%		Paid Off - 360		01-Feb-2005
1000339075 1			35,000.00		34,484.05			10-Nov-2005		9.400%		FL - 20.00%		Paid Off - 240		01-Feb-2005
1000339609 2			201,501.00		200,302.88			02-Nov-2005		8.750%		GA - 90.00%		Paid Off - 360		01-Feb-2005
1000342560 1			281,250.00		278,439.48			10-Nov-2005		6.100%		CA - 74.01%		Paid Off - 360		01-Feb-2005
1000343471 1			124,000.00		122,735.02			01-Nov-2005		5.990%		CA - 35.43%		Paid Off - 360		01-Feb-2005
1000344611 3			193,500.00		191,887.50			04-Nov-2005		7.500%		CO - 90.00%		Paid Off - 360		01-Feb-2005
1000350925 1			172,000.00		170,193.50			23-Nov-2005		5.990%		CA - 80.00%		Paid Off - 360		01-Feb-2005
1000351522 3			216,000.00		214,325.24			17-Nov-2005		7.500%		IL - 90.00%		Paid Off - 360		01-Feb-2005
1000355298 2			153,425.00		152,553.59			01-Nov-2005		8.975%		FL - 85.00%		Paid Off - 360		01-Feb-2005
1000355877 2			208,620.00		207,171.62			22-Nov-2005		7.980%		IL - 90.00%		Paid Off - 360		01-Feb-2005
1000360193 3			114,750.00		114,002.71			11-Nov-2005		8.300%		CT - 85.00%		Paid Off - 360		01-Feb-2005
1000362994 1			315,000.00		314,999.94			04-Nov-2005		6.313%		CT - 75.00%		Paid Off - 360		01-Feb-2005


Page 25 of 34
Morgan Stanley ABS Capital I Inc. 2005-NC2

Mortgage Pass-Through Certificates

2005-NC2

December 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

1000364340 2			297,000.00		295,215.97			02-Nov-2005		8.700%		TX - 90.00%		Paid Off - 360		01-Feb-2005

1000368220 3			368,000.00		364,658.85			17-Nov-2005		6.900%		CA - 80.00%		Paid Off - 360		01-Feb-2005
1000370244 2			164,000.00		163,947.36			02-Nov-2005		7.700%		AZ - 80.00%		Paid Off - 360		01-Feb-2005
1000375043 3			376,000.00		372,242.68			15-Nov-2005		6.100%		CA - 80.00%		Paid Off - 360		01-Feb-2005
1000379263 3			349,600.00		349,599.93			22-Nov-2005		7.450%		CA - 95.00%		Paid Off - 360		01-Feb-2005
1000381624 3			311,200.00		308,191.25			03-Nov-2005		6.275%		NV - 80.00%		Paid Off - 360		01-Feb-2005
1000383230 2			298,400.00		295,396.61			23-Nov-2005		7.300%		CA - 89.88%		Paid Off - 360		01-Mar-2005
1000383329 1			153,750.00		151,991.04			10-Nov-2005		5.900%		CA - 66.85%		Paid Off - 360		01-Jan-2005
1000385737 3			335,200.00		335,199.80			28-Nov-2005		6.600%		VA - 80.00%		Paid Off - 360		01-Feb-2005
1000390311 2			178,000.00		176,545.79			01-Nov-2005		7.225%		WA - 89.00%		Paid Off - 360		01-Feb-2005
1000391418 2			184,450.00		183,041.89			09-Nov-2005		7.500%		FL - 85.00%		Paid Off - 360		01-Feb-2005
1000397047 1			332,000.00		328,744.36			08-Nov-2005		6.200%		CA - 83.00%		Paid Off - 360		01-Feb-2005
1000397494 1			160,000.00		159,999.99			30-Nov-2005		6.700%		WA - 78.05%		Paid Off - 360		01-Feb-2005
1000401862 1			70,200.00		69,709.70			16-Nov-2005		7.950%		OH - 90.00%		Paid Off - 360		01-Feb-2005
1000410228 2			256,000.00		255,935.74			18-Nov-2005		5.750%		CA - 80.00%		Paid Off - 360		01-Feb-2005
1000413528 1			150,000.00		148,611.67			17-Nov-2005		6.700%		NJ - 46.88%		Paid Off - 360		01-Feb-2005
1000416008 3			275,500.00		273,417.46			11-Nov-2005		7.550%		WA - 95.00%		Paid Off - 360		01-Feb-2005
1000416641 3			327,750.00		327,725.83			01-Nov-2005		7.000%		AZ - 95.00%		Paid Off - 360		01-Feb-2005
1000419611 2			244,000.00		242,081.73			25-Nov-2005		7.350%		MA - 80.00%		Paid Off - 360		01-Feb-2005
1000422894 3			45,475.00		45,047.34			29-Nov-2005		9.600%		FL - 85.00%		Paid Off - 360		01-Feb-2005
1000423018 1			101,700.00		101,113.42			01-Nov-2005		8.900%		IN - 100.00%		Paid Off - 360		01-Feb-2005
1000423795 1			93,600.00		92,682.06			02-Nov-2005		6.200%		IN - 80.00%		Paid Off - 360		01-Feb-2005
1000425123 1			275,000.00		272,795.42			15-Nov-2005		7.250%		CA - 76.39%		Paid Off - 360		01-Feb-2005
1000425203 1			294,200.00		291,513.33			02-Nov-2005		6.575%		NV - 94.90%		Paid Off - 360		01-Feb-2005
1000425766 2			224,000.00		222,151.03			09-Nov-2005		7.100%		FL - 80.00%		Paid Off - 360		01-Feb-2005
1000426319 1			23,400.00		23,128.92			02-Nov-2005		11.300%		IN - 20.00%		Paid Off - 240		01-Feb-2005
1000427461 3			195,750.00		194,462.37			18-Nov-2005		8.250%		NJ - 90.00%		Paid Off - 360		01-Feb-2005
1000430322 2			212,000.00		211,999.96			02-Nov-2005		7.850%		AL - 80.00%		Paid Off - 360		01-Feb-2005
1000430732 1			128,000.00		127,183.01			10-Nov-2005		8.400%		FL - 80.00%		Paid Off - 360		01-Feb-2005
1000432491 3			395,000.00		391,545.12			21-Nov-2005		6.800%		NY - 79.00%		Paid Off - 360		01-Feb-2005
1000434346 1			227,200.00		225,849.02			16-Nov-2005		8.750%		CA - 80.00%		Paid Off - 360		01-Feb-2005
1000437101 3			375,000.00		371,581.18			28-Nov-2005		6.600%		CA - 80.99%		Paid Off - 360		01-Feb-2005
1000437398 3			231,200.00		231,200.00			04-Nov-2005		6.600%		CA - 80.00%		Paid Off - 360		01-Feb-2005
1000438351 3			230,000.00		225,081.41			23-Nov-2005		6.300%		NH - 75.91%		Paid Off - 240		01-Feb-2005
1000439699 3			109,600.00		107,976.20			29-Nov-2005		9.250%		MI - 80.00%		Paid Off - 360		01-Feb-2005
1000441436 3			160,800.00		159,694.51			03-Nov-2005		8.250%		VA - 80.00%		Paid Off - 360		01-Feb-2005
1000444362 2			150,000.00		148,069.85			28-Nov-2005		6.250%		CA - 69.77%		Paid Off - 360		01-Feb-2005
1000445557 3			131,100.00		130,041.21			29-Nov-2005		7.250%		FL - 95.00%		Paid Off - 360		01-Feb-2005
1000446832 3			385,600.00		385,525.57			29-Nov-2005		6.050%		VA - 80.00%		Paid Off - 360		01-Feb-2005
1000448821 3			369,000.00		365,347.21			08-Nov-2005		6.150%		CA - 89.78%		Paid Off - 360		01-Feb-2005
1000449553 3			84,000.00		82,658.37			21-Nov-2005		8.750%		FL - 80.00%		Paid Off - 240		01-Feb-2005
1000449722 2			54,000.00		53,665.62			21-Nov-2005		8.550%		VA - 90.00%		Paid Off - 360		01-Feb-2005
1000450648 2			96,168.00		95,293.92			30-Nov-2005		6.600%		CA - 42.27%		Paid Off - 360		01-Feb-2005


Page 26 of 34
Morgan Stanley ABS Capital I Inc. 2005-NC2

Mortgage Pass-Through Certificates

2005-NC2

December 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

1000452165 1			247,000.00		246,999.02			02-Nov-2005		7.050%		CA - 95.00%		Paid Off - 360		01-Feb-2005

1000457856 1			163,700.00		161,967.02			01-Nov-2005		5.990%		CA - 55.49%		Paid Off - 360		01-Feb-2005
1000462341 1			150,000.00		148,429.14			08-Nov-2005		5.850%		CA - 50.34%		Paid Off - 360		01-Feb-2005
1000470047 3			92,000.00		91,357.46			29-Nov-2005		7.950%		MO - 80.00%		Paid Off - 360		01-Feb-2005
1000470797 1			86,700.00		86,057.40			01-Nov-2005		7.650%		OH - 85.00%		Paid Off - 360		01-Feb-2005
1000472125 1			328,000.00		324,211.95			23-Nov-2005		6.250%		IL - 79.61%		Paid Off - 360		01-Feb-2005
1000472697 1			349,600.00		349,599.96			07-Nov-2005		6.700%		CA - 80.00%		Paid Off - 360		01-Feb-2005
1000473491 2			237,600.00		236,083.54			21-Nov-2005		8.400%		MA - 80.00%		Paid Off - 360		01-Feb-2005
1000478405 2			176,400.00		174,610.99			04-Nov-2005		6.550%		CA - 90.00%		Paid Off - 360		01-Feb-2005
1000479235 3			322,400.00		319,178.59			30-Nov-2005		7.600%		MA - 80.00%		Paid Off - 360		01-Feb-2005
1000480072 3			75,000.00		74,470.92			07-Nov-2005		7.900%		VA - 75.00%		Paid Off - 360		01-Feb-2005
1000480376 3			153,900.00		152,861.98			25-Nov-2005		8.125%		FL - 95.00%		Paid Off - 360		01-Feb-2005
1000484345 3			136,000.00		134,824.93			14-Nov-2005		7.075%		NM - 80.00%		Paid Off - 360		01-Feb-2005
1000485175 1			307,500.00		307,500.00			29-Nov-2005		6.500%		CA - 74.84%		Paid Off - 360		01-Feb-2005
1000485371 3			81,000.00		80,298.32			17-Nov-2005		6.850%		OH - 90.00%		Paid Off - 360		01-Feb-2005
1000485647 3			164,400.00		163,132.58			07-Nov-2005		7.450%		VA - 78.85%		Paid Off - 360		01-Feb-2005
1000488403 2			180,000.00		178,132.56			29-Nov-2005		5.900%		CA - 48.65%		Paid Off - 360		01-Feb-2005
1000490123 3			361,000.00		358,134.05			04-Nov-2005		7.300%		CA - 95.00%		Paid Off - 360		01-Feb-2005
1000492425 2			129,600.00		128,829.45			15-Nov-2005		8.750%		FL - 90.00%		Paid Off - 360		01-Feb-2005
1000499259 2			286,400.00		286,400.00			15-Nov-2005		5.650%		CA - 80.00%		Paid Off - 360		01-Feb-2005
1000500274 2			157,250.00		156,204.58			07-Nov-2005		8.200%		CA - 85.00%		Paid Off - 360		01-Feb-2005
1000500808 2			355,000.00		352,055.04			30-Nov-2005		7.550%		IL - 88.75%		Paid Off - 360		01-Feb-2005
1000512234 3			102,000.00		101,308.56			30-Nov-2005		8.100%		NM - 85.00%		Paid Off - 360		01-Feb-2005
1000514679 1			210,000.00		207,859.14			18-Nov-2005		6.250%		CA - 73.68%		Paid Off - 360		01-Feb-2005
1000522884 3			208,000.00		205,878.15			02-Nov-2005		5.990%		AZ - 80.00%		Paid Off - 360		01-Feb-2005
1000525275 2			153,000.00		152,099.50			07-Nov-2005		8.800%		NJ - 85.00%		Paid Off - 360		01-Feb-2005
1000526407 3			216,000.00		214,430.32			01-Nov-2005		7.750%		NJ - 80.00%		Paid Off - 360		01-Feb-2005
1000527852 2			418,000.00		415,402.15			23-Nov-2005		7.990%		MA - 95.00%		Paid Off - 360		01-Mar-2005
1000529002 2			125,800.00		124,771.72			17-Nov-2005		7.150%		MD - 85.00%		Paid Off - 360		01-Feb-2005
1000529217 3			240,000.00		238,094.62			14-Nov-2005		7.300%		NV - 73.39%		Paid Off - 360		01-Feb-2005
1000529529 1			212,000.00		211,945.45			11-Nov-2005		6.175%		CA - 80.00%		Paid Off - 360		01-Feb-2005
1000535371 2			107,000.00		105,795.00			23-Nov-2005		6.250%		CA - 56.32%		Paid Off - 360		01-Feb-2005
1000535987 3			133,125.00		131,998.41			02-Nov-2005		7.600%		IL - 83.20%		Paid Off - 360		01-Feb-2005
1000540720 3			370,000.00		366,732.55			17-Nov-2005		6.750%		IL - 100.00%		Paid Off - 360		01-Feb-2005
1000541890 3			205,000.00		203,258.01			01-Nov-2005		6.950%		MD - 69.97%		Paid Off - 360		01-Feb-2005
1000547554 2			237,600.00		235,549.57			18-Nov-2005		7.750%		CA - 80.00%		Paid Off - 360		01-Feb-2005
1000549197 3			146,200.00		145,189.20			17-Nov-2005		8.300%		AZ - 85.00%		Paid Off - 360		01-Feb-2005
1000549543 2			292,500.00		290,192.36			22-Nov-2005		7.350%		CA - 90.00%		Paid Off - 360		01-Feb-2005
1000554581 2			305,000.00		302,201.37			11-Nov-2005		6.550%		VA - 79.22%		Paid Off - 360		01-Feb-2005
1000556115 3			376,000.00		375,878.31			18-Nov-2005		7.575%		FL - 80.00%		Paid Off - 360		01-Feb-2005
1000556222 2			315,000.00		312,323.34			29-Nov-2005		6.950%		CA - 90.00%		Paid Off - 360		01-Feb-2005
1000560538 2			228,650.00		226,697.64			10-Nov-2005		6.925%		FL - 85.00%		Paid Off - 360		01-Feb-2005
1000561270 2			136,000.00		134,810.45			15-Nov-2005		6.800%		CA - 80.00%		Paid Off - 360		01-Feb-2005


Page 27 of 34
Morgan Stanley ABS Capital I Inc. 2005-NC2

Mortgage Pass-Through Certificates

2005-NC2

December 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

1000562956 1			189,000.00		189,000.00			23-Nov-2005		6.600%		WA - 90.00%		Paid Off - 360		01-Feb-2005

1000564268 2			304,000.00		301,994.87			07-Nov-2005		8.400%		CA - 79.58%		Paid Off - 360		01-Feb-2005
1000564687 3			490,000.00		484,868.73			03-Nov-2005		5.850%		CA - 74.70%		Paid Off - 360		01-Feb-2005
1000567461 2			241,000.00		239,578.18			01-Nov-2005		8.250%		CA - 87.64%		Paid Off - 360		01-Mar-2005
1000574630 3			157,250.00		156,194.63			30-Nov-2005		8.150%		AZ - 85.00%		Paid Off - 360		01-Feb-2005
1000576031 1			112,000.00		111,999.29			30-Nov-2005		6.100%		AZ - 80.00%		Paid Off - 360		01-Feb-2005
1000577174 1			276,685.00		274,901.11			08-Nov-2005		8.650%		FL - 90.00%		Paid Off - 360		01-Feb-2005
1000577913 3			500,000.00		495,522.63			10-Nov-2005		6.800%		CA - 83.33%		Paid Off - 360		01-Feb-2005
1000578388 2			263,500.00		262,011.03			30-Nov-2005		9.000%		CA - 85.00%		Paid Off - 360		01-Feb-2005
1000579993 1			359,000.00		359,000.00			07-Nov-2005		6.950%		CA - 78.04%		Paid Off - 360		01-Feb-2005
1000589321 3			95,200.00		94,621.14			21-Nov-2005		8.100%		AL - 85.00%		Paid Off - 360		01-Mar-2005
1000605045 3			129,600.00		128,581.13			17-Nov-2005		7.350%		FL - 80.00%		Paid Off - 360		01-Feb-2005
1000607329 1			224,000.00		224,000.00			17-Nov-2005		6.300%		CA - 80.00%		Paid Off - 360		01-Feb-2005
1000611724 1			136,000.00		136,000.00			11-Nov-2005		6.450%		CA - 80.00%		Paid Off - 360		01-Feb-2005
1000611902 3			34,000.00		33,504.31			11-Nov-2005		10.400%		CA - 20.00%		Paid Off - 240		01-Feb-2005
1000613893 3			316,000.00		316,000.00			04-Nov-2005		6.000%		FL - 80.00%		Paid Off - 360		01-Mar-2005
1000614240 3			272,308.00		268,613.75			23-Nov-2005		6.100%		MO - 80.00%		Paid Off - 360		01-Feb-2005
1000615999 1			140,800.00		140,800.00			03-Nov-2005		7.350%		FL - 80.00%		Paid Off - 360		01-Feb-2005
1000621866 3			150,400.00		149,205.97			28-Nov-2005		6.875%		MA - 80.00%		Paid Off - 360		01-Mar-2005
1000623757 2			95,000.00		94,392.89			30-Nov-2005		7.850%		IL - 62.91%		Paid Off - 360		01-Mar-2005
1000625041 3			56,000.00		54,371.20			01-Nov-2005		7.250%		MO - 80.00%		Paid Off - 360		01-Mar-2005
1000631793 2			192,000.00		191,930.40			18-Nov-2005		8.700%		GA - 80.00%		Paid Off - 360		01-Mar-2005
1000632113 3			48,000.00		47,499.78			18-Nov-2005		11.700%		GA - 20.00%		Paid Off - 240		01-Mar-2005
1000640337 3			257,500.00		255,408.25			23-Nov-2005		6.625%		CA - 75.74%		Paid Off - 360		01-Mar-2005
1000643003 2			112,575.00		111,932.34			10-Nov-2005		8.950%		WI - 95.00%		Paid Off - 360		01-Feb-2005
1000650094 3			52,500.00		52,228.49			07-Nov-2005		8.900%		MI - 68.18%		Paid Off - 360		01-Mar-2005
1000660975 2			225,000.00		224,023.93			25-Nov-2005		9.750%		CA - 72.58%		Paid Off - 360		01-Mar-2005
1983206 2			67,500.00		66,856.61			30-Nov-2005		6.350%		PA - 75.00%		Repur/Subs - 360		01-Feb-2005
1000180994 2			52,200.00		51,148.37			30-Nov-2005		7.400%		PA - 90.00%		Repur/Subs - 240		01-Feb-2005
1000243739 2			99,200.00		97,607.33			30-Nov-2005		5.750%		VA - 80.00%		Repur/Subs - 360		01-Feb-2005
1000421289 2			94,600.00		91,817.46			30-Nov-2005		8.150%		TX - 78.83%		Repur/Subs - 180		01-Feb-2005
1000574783 2			88,200.00		87,577.78			30-Nov-2005		7.900%		IN - 90.00%		Repur/Subs - 360		01-Feb-2005
1000625210 2			86,100.00		85,710.59			30-Nov-2005		9.550%		MI - 70.00%		Repur/Subs - 360		01-Mar-2005


TOTAL			50,426,062.00		50,050,637.34



Page 28 of 34
Morgan Stanley ABS Capital I Inc. 2005-NC2

Mortgage Pass-Through Certificates

2005-NC2

December 27, 2005 Distribution
Realized Loss Report

COLLATERAL REALIZED LOSSES



									Group 3		Group 2		Group 1		Total


Current




Number of Loans Liquidated								1		0		1		2
Collateral Principal Realized Loss/(Gain) Amount								42,264.01		0.00		35,506.69		77,770.70
Collateral Interest Realized Loss/(Gain) Amount								0.00		106.44		0.00		106.44
Net Liquidation Proceeds								54,827.83		(106.44)		61,511.62		116,233.01

Cumulative




Number of Loans Liquidated								2		0		2		4
Collateral Realized Loss/(Gain) Amount								91,115.15		106.44		163,895.97		255,117.56
Net Liquidation Proceeds								54,827.83		0.00		275,122.34		329,950.17










Page 29 of 34
Morgan Stanley ABS Capital I Inc. 2005-NC2

Mortgage Pass-Through Certificates

2005-NC2

December 27, 2005 Distribution


DEFAULT SPEEDS



									Group 3		Group 2		Group 1		Total



MDR								0.02%		0.00%		0.03%		0.02%
3 Months Avg MDR								0.01%		0.00%		0.04%		0.02%
12 Months Avg MDR								0.00%		0.00%		0.02%		0.01%
Avg MDR Since Cut-off								0.00%		0.00%		0.02%		0.01%


CDR								0.21%		0.00%		0.35%		0.20%
3 Months Avg CDR								0.10%		0.00%		0.50%		0.19%
12 Months Avg CDR								0.04%		0.00%		0.19%		0.07%
Avg CDR Since Cut-off								0.04%		0.00%		0.19%		0.07%


SDA								0.94%		0.00%		1.53%		0.88%
3 Months Avg SDA Approximation								0.50%		0.00%		2.44%		0.94%
12 Months Avg SDA Approximation								0.25%		0.00%		1.21%		0.47%
Avg SDA Since Cut-off Approximation								0.25%		0.00%		1.21%		0.47%


Loss Severity Approximation for Current Period								43.53%		0.00%		36.60%		40.07%
3 Months Avg Loss Severity Approximation								47.84%		0.00%		24.71%		59.20%
12 Months Avg Loss Severity Approximation								17.94%		0.00%		9.27%		22.20%
Avg Loss Severity Approximation Since Cut-off								17.94%		0.00%		9.27%		22.20%












Page 30 of 34
Morgan Stanley ABS Capital I Inc. 2005-NC2

Mortgage Pass-Through Certificates

2005-NC2

December 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 31 of 34
Morgan Stanley ABS Capital I Inc. 2005-NC2

Mortgage Pass-Through Certificates

2005-NC2

December 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)

1000328390 1
			7.600%		TN - 85.00%		360		97,018.31				35,506.69		0.00

1936770 3			8.625%		GA - 78.83%		360		97,091.84				42,264.01		0.00
1837412 3					TX - 20.00%		240				Revision		106.44


TOTAL									194,110.15			77,877.14		0.00



Page 32 of 34
Morgan Stanley ABS Capital I Inc. 2005-NC2

Mortgage Pass-Through Certificates

2005-NC2

December 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								36,569,695.69
						Ending Balance								1,131,803,815.49
						Prior Period Senior Enhancement Percentage								24.419830%



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 33 of 34
Morgan Stanley ABS Capital I Inc. 2005-NC2

Mortgage Pass-Through Certificates

2005-NC2

December 27, 2005 Distribution
Other Related Information
ADDITIONAL INFORMATION

								Group 3		Group 2		Group 1		Total
Current Scheduled Payments														7,864,414.07
Current Scheduled Payments 1 Month Prior														8,209,998.26
Current Scheduled Payments 2 Month Prior														8,522,842.75
Current Scheduled Payments 3 Month Prior														8,896,097.16
Current Scheduled Payments 4 Month Prior														9,222,856.58
Current Scheduled Payments 5 Month Prior														9,563,910.95
Current Scheduled Payments 6 Month Prior														9,781,303.73
Current Scheduled Payments 7 Month Prior														9,906,492.25
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 34 of 34

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