                                    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
                     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
     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 Home Equity Loan Trust 2005-1

Mortgage Pass-Through Certificates

2005-1

December 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					17
										9. Prepayment Detail Report					20

										10. Realized Loss Report					25
										11. Realized Loss Detail Report					28
				Servicer(s)
										12. Triggers and Adj. Cert. Report					29
				Chase Securities, Inc
										13. Other Related Information					30
				HomeQ Servicing Corp.



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


										Total Number of Pages					30


				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:			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 30
Morgan Stanley Home Equity Loan Trust 2005-1

Mortgage Pass-Through Certificates

2005-1

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	FLT/STP/WAC	$	293,823,000.00		197,614,179.10		783,650.01		10,656,547.52		11,440,197.53		0.00		0.00		186,957,631.58

A-1MZ	FLT/STP/WAC	$	73,456,000.00		49,403,712.91		196,791.45		2,664,145.94		2,860,937.39		0.00		0.00		46,739,566.97
A-2A	FLT/STP/WAC	$	161,866,000.00		31,003,262.95		118,811.39		10,950,803.68		11,069,615.07		0.00		0.00		20,052,459.27
A-2B	FLT/STP/WAC	$	180,000,000.00		180,000,000.00		704,200.00		0.00		704,200.00		0.00		0.00		180,000,000.00
A-2C	FLT/STP/WAC	$	35,000,000.00		35,000,000.00		141,283.33		0.00		141,283.33		0.00		0.00		35,000,000.00
M-1	SUB/FLT/WAC	$	30,569,000.00		30,568,999.99		126,114.11		0.00		126,114.11		0.00		0.00		30,568,999.99
M-2	SUB/FLT/WAC	$	27,831,000.00		27,831,000.00		115,313.11		0.00		115,313.11		0.00		0.00		27,831,000.00
M-3	SUB/FLT/WAC	$	17,794,000.00		17,794,000.00		74,517.32		0.00		74,517.32		0.00		0.00		17,794,000.00
M-4	SUB/FLT/WAC	$	15,512,000.00		15,512,000.00		67,442.73		0.00		67,442.73		0.00		0.00		15,512,000.00
M-5	SUB/FLT/WAC	$	14,600,000.00		14,600,000.00		64,126.44		0.00		64,126.44		0.00		0.00		14,600,000.00
M-6	SUB/FLT/WAC	$	13,232,000.00		13,232,000.00		59,294.06		0.00		59,294.06		0.00		0.00		13,232,000.00
B-1	SUB/FLT/WAC	$	11,862,000.00		11,862,000.00		57,899.74		0.00		57,899.74		0.00		0.00		11,862,000.00
B-2	SUB/FLT/WAC	$	7,756,000.00		7,756,000.00		38,685.20		0.00		38,685.20		0.00		0.00		7,756,000.00
B-3	SUB/FLT/WAC	$	9,126,000.00		9,126,000.00		52,657.02		0.00		52,657.02		0.00		0.00		9,126,000.00
X	SUB/FLT/WAC	$	20,075,053.00		20,075,045.17		1,054,947.73		0.00		1,054,947.73		0.00		0.00		20,075,045.16
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		528,287.81		0.00		528,287.81		0.00		0.00		0.00

Total			912,502,053.00		661,378,200.12		4,184,021.45		24,271,497.14		28,455,518.59		0.00		0.00		637,106,702.97





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		61744CKZ8		293,823,000.00		672.561982		2.667082		36.268595		38.935677	636.293386
A-1MZ	11/25/05		12/26/05		A-Act/360		61744CLA2		73,456,000.00		672.561981		2.679038		36.268595		38.947634	636.293386
A-2A	11/25/05		12/26/05		A-Act/360		61744CLB0		161,866,000.00		191.536598		0.734011		67.653514		68.387525	123.883084
A-2B	11/25/05		12/26/05		A-Act/360		61744CLC8		180,000,000.00		1,000.000000		3.912222		0.000000		3.912222	1,000.000000
A-2C	11/25/05		12/26/05		A-Act/360		61744CLD6		35,000,000.00		1,000.000000		4.036667		0.000000		4.036667	1,000.000000
M-1	11/25/05		12/26/05		A-Act/360		61744CLE4		30,569,000.00		1,000.000000		4.125556		0.000000		4.125556	1,000.000000
M-2	11/25/05		12/26/05		A-Act/360		61744CLF1		27,831,000.00		1,000.000000		4.143333		0.000000		4.143333	1,000.000000
M-3	11/25/05		12/26/05		A-Act/360		61744CLG9		17,794,000.00		1,000.000000		4.187778		0.000000		4.187778	1,000.000000
M-4	11/25/05		12/26/05		A-Act/360		61744CLH7		15,512,000.00		1,000.000000		4.347778		0.000000		4.347778	1,000.000000
M-5	11/25/05		12/26/05		A-Act/360		61744CLJ3		14,600,000.00		1,000.000000		4.392222		0.000000		4.392222	1,000.000000
M-6	11/25/05		12/26/05		A-Act/360		61744CLK0		13,232,000.00		1,000.000000		4.481111		0.000000		4.481111	1,000.000000
B-1	11/25/05		12/26/05		A-Act/360		61744CLL8		11,862,000.00		1,000.000000		4.881111		0.000000		4.881111	1,000.000000
B-2	11/25/05		12/26/05		A-Act/360		61744CLM6		7,756,000.00		1,000.000000		4.987777		0.000000		4.987777	1,000.000000
B-3	11/25/05		12/26/05		A-Act/360		61744CLN4		9,126,000.00		1,000.000000		5.770000		0.000000		5.770000	1,000.000000
X	11/25/05		12/26/05		A-Act/360		MS05X1101		20,075,053.00		999.999610		52.550184		0.000000		52.550184	999.999609
UT-R	11/25/05		12/24/05		A-30/360		MS05X1103		0.00		0.000000		0.000000		0.000000		0.000000	0.000000
P	11/25/05		12/24/05		A-30/360		MS05X1102		0.00		0.000000		0.000000		0.000000		0.000000	0.000000



Page 2 of 30
Morgan Stanley Home Equity Loan Trust 2005-1

Mortgage Pass-Through Certificates

2005-1

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	293,823,000.00		8,308,508.60		104,892,314.37		1,973,054.05		106,865,368.42		115,173,877.02		0.00		0.00		186,957,631.58
A-1MZ	73,456,000.00		2,088,839.15		26,223,167.84		493,265.19		26,716,433.03		28,805,272.18		0.00		0.00		46,739,566.97
A-2A	161,866,000.00		3,121,665.38		139,090,478.54		2,723,062.19		141,813,540.73		144,935,206.11		0.00		0.00		20,052,459.27
A-2B	180,000,000.00		5,918,150.70		0.00		0.00		0.00		5,918,150.70		0.00		0.00		180,000,000.00
A-2C	35,000,000.00		1,196,076.50		0.00		0.00		0.00		1,196,076.50		0.00		0.00		35,000,000.00
M-1	30,569,000.00		1,072,929.57		0.01		0.00		0.01		1,072,929.58		0.00		0.00		30,568,999.99
M-2	27,831,000.00		981,978.29		0.00		0.00		0.00		981,978.29		0.00		0.00		27,831,000.00
M-3	17,794,000.00		636,066.38		0.00		0.00		0.00		636,066.38		0.00		0.00		17,794,000.00
M-4	15,512,000.00		580,321.21		0.00		0.00		0.00		580,321.21		0.00		0.00		15,512,000.00
M-5	14,600,000.00		552,954.77		0.00		0.00		0.00		552,954.77		0.00		0.00		14,600,000.00
M-6	13,232,000.00		513,383.26		0.00		0.00		0.00		513,383.26		0.00		0.00		13,232,000.00
B-1	11,862,000.00		509,604.76		0.00		0.00		0.00		509,604.76		0.00		0.00		11,862,000.00
B-2	7,756,000.00		341,815.57		0.00		0.00		0.00		341,815.57		0.00		0.00		7,756,000.00
B-3	9,126,000.00		476,478.65		0.00		0.00		0.00		476,478.65		0.00		0.00		9,126,000.00
X	20,075,053.00		23,452,494.36		7.52		0.31		7.83		23,452,502.19		0.00		0.00		20,075,045.16
UT-R	0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00
P	0.00		6,349,499.11		0.00		0.00		0.00		6,349,499.11		0.00		0.00		0.00

Total	912,502,053.00		56,100,766.26		270,205,968.28		5,189,381.74		275,395,350.02		331,496,116.28		0.00		0.00		637,106,702.97


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	4.46125%		197,614,179.10		783,650.01		0.00		0.00		0.00		783,650.01		783,650.01		0.00
A-1MZ	4.48125%		49,403,712.91		196,791.46		0.00		0.00		0.00		196,791.46		196,791.45		0.00
A-2A	4.31125%		31,003,262.95		118,811.39		0.00		0.00		0.00		118,811.39		118,811.39		0.00
A-2B	4.40125%		180,000,000.00		704,200.00		0.00		0.00		0.00		704,200.00		704,200.00		0.00
A-2C	4.54125%		35,000,000.00		141,283.33		0.00		0.00		0.00		141,283.33		141,283.33		0.00
M-1	4.64125%		30,568,999.99		126,114.11		0.00		0.00		0.00		126,114.11		126,114.11		0.00
M-2	4.66125%		27,831,000.00		115,313.11		0.00		0.00		0.00		115,313.11		115,313.11		0.00
M-3	4.71125%		17,794,000.00		74,517.32		0.00		0.00		0.00		74,517.32		74,517.32		0.00
M-4	4.89125%		15,512,000.00		67,442.73		0.00		0.00		0.00		67,442.73		67,442.73		0.00
M-5	4.94125%		14,600,000.00		64,126.44		0.00		0.00		0.00		64,126.44		64,126.44		0.00
M-6	5.04125%		13,232,000.00		59,294.06		0.00		0.00		0.00		59,294.06		59,294.06		0.00
B-1	5.49125%		11,862,000.00		57,899.74		0.00		0.00		0.00		57,899.74		57,899.74		0.00
B-2	5.61125%		7,756,000.00		38,685.20		0.00		0.00		0.00		38,685.20		38,685.20		0.00
B-3	6.36094%		9,126,000.00		51,599.91		0.00		0.00		0.00		51,599.91		52,657.02		0.00
X	59.11898%		20,075,045.17		0.00		0.00		0.00		0.00		0.00		1,054,947.73		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		528,287.81		0.00

Total			661,378,200.12		2,599,728.81		0.00		0.00		0.00		2,599,728.81		4,184,021.45		0.00



Page 3 of 30
Morgan Stanley Home Equity Loan Trust 2005-1

Mortgage Pass-Through Certificates

2005-1

December 27, 2005 Distribution
Collection Account Report
SUMMARY

										Group 2		Group 1		Total
Principal Collections										10,912,991.44		13,274,698.18		24,187,689.62
Principal Withrawals										0.00		0.00		0.00
Principal Other Accounts										0.00		0.00		0.00
TOTAL NET PRINCIPAL										10,912,991.44		13,274,698.18		24,187,689.62
Interest Collections										1,873,130.26		1,907,341.80		3,780,472.06
Interest Withdrawals										-0.00		-0.00		-0.00
Interest Other Accounts										0.00		0.00		528,287.81
Interest Fees										-19,539.39		-21,391.52		-40,930.91
TOTAL NET INTEREST										1,853,590.87		1,885,950.29		4,267,828.96
TOTAL AVAILABLE FUNDS FOR DISTRIBUTION										12,766,582.31		15,160,648.47		28,455,518.58



PRINCIPAL - COLLECTIONS

											Group 2		Group 1		Total
Scheduled Principal Received											208,474.68		196,072.55		404,547.23
Prepayments In Full											10,555,309.04		13,047,188.62		23,602,497.66
Curtailments											9,143.05		31,437.01		40,580.06
Liquidations											223,872.19		0.00		223,872.19
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											-83,807.52		-0.00		-83,807.52
Delinquent Principal											-185,609.20		-173,937.01		-359,546.21
Advanced Principal											185,609.20		173,937.01		359,546.21
TOTAL PRINCIPAL COLLECTED											10,912,991.44		13,274,698.18		24,187,689.62


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 30
Morgan Stanley Home Equity Loan Trust 2005-1

Mortgage Pass-Through Certificates

2005-1

December 27, 2005 Distribution

INTEREST - COLLECTIONS

										Group 2		Group 1		Total
Scheduled Interest										1,991,547.88		2,024,850.04		4,016,397.92
Liquidation Interest										1,473.23		0.00		1,473.23
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										-20,685.80		-21,024.77		-41,710.57
Compensating Interest										20,685.80		21,024.77		41,710.57
Delinquent Interest										-1,731,442.21		-1,730,059.43		-3,461,501.64
Interest Advanced										1,611,551.36		1,612,551.20		3,224,102.56
TOTAL INTEREST COLLECTED										1,873,130.26		1,907,341.80		3,780,472.06


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														528,287.81
TOTAL INTEREST OTHER ACCOUNTS										0.00		0.00		528,287.81



INTEREST - FEES

										Group 2		Group 1		Total
Current Servicing Fees										18,158.89		20,016.28		38,175.17
Current Trustee Fees										1,380.50		1,375.25		2,755.74
TOTAL INTEREST OTHER FEES										19,539.39		21,391.52		40,930.91




Page 5 of 30
Morgan Stanley Home Equity Loan Trust 2005-1

Mortgage Pass-Through Certificates

2005-1

December 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														20,075,045.16
Overcollateralization Target Amount														20,075,045.17
Overcollateralization Deficiency Amount														0.00
Overcollateralization Release Amount														0.00




Page 6 of 30
Morgan Stanley Home Equity Loan Trust 2005-1

Mortgage Pass-Through Certificates

2005-1

December 27, 2005 Distribution
Collateral Report


COLLATERAL



											Group 2		Group 1		Total



Loan Count:


Original										2,955		3,568		6,523
Prior										2,225		2,749		4,974
Prefunding										0		0		0
Scheduled Paid Offs										-0		-0		-0
Full Voluntary Prepayments										-68		-105		-173
Repurchases										-0		-0		-0
Liquidations										-2		-0		-2
Current										2,155		2,644		4,799
Principal Balance:


Original										461,996,371.69		449,845,887.51		911,842,259.20
Prior										331,319,383.23		330,058,816.88		661,378,200.11
Prefunding										0.00		0.00		0.00
Scheduled Principal										-208,474.68		-196,072.55		-404,547.23
Partial Prepayments										-9,143.05		-31,437.01		-40,580.06
Full Voluntary Prepayments										-10,555,309.04		-13,047,188.62		-23,602,497.66
Repurchases										-0.00		-0.00		-0.00
Liquidations										-223,872.19		-0.00		-223,872.19
Current										320,322,584.27		316,784,118.70		637,106,702.97





PREFUNDING

SPACE INTENTIONALLY LEFT BLANK






Page 7 of 30
Morgan Stanley Home Equity Loan Trust 2005-1

Mortgage Pass-Through Certificates

2005-1

December 27, 2005 Distribution

CHARACTERISTICS

										Group 2		Group 1		Total
Weighted Average Coupon Original										7.23097%		7.35011%		7.28975%
Weighted Average Coupon Prior										7.21922%		7.37298%		7.29551%
Weighted Average Coupon Current										7.21849%		7.36026%		7.28924%
Weighted Average Months to Maturity Original										351		345		348
Weighted Average Months to Maturity Prior										342		336		339
Weighted Average Months to Maturity Current										341		335		338
Weighted Avg Remaining Amortization Term Original										351		345		348
Weighted Avg Remaining Amortization Term Prior										342		336		339
Weighted Avg Remaining Amortization Term Current										343		342		343
Weighted Average Seasoning Original										4.99		4.95		4.97
Weighted Average Seasoning Prior										13.97		13.92		13.94
Weighted Average Seasoning Current										14.97		14.93		14.95









Page 8 of 30
Morgan Stanley Home Equity Loan Trust 2005-1

Mortgage Pass-Through Certificates

2005-1

December 27, 2005 Distribution

ARM CHARACTERISTICS

										Group 2		Group 1		Total
Weighted Average Margin Original										6.59175%		6.54028%		6.56751%
Weighted Average Margin Prior										6.54043%		6.51314%		6.52756%
Weighted Average Margin Current										6.54546%		6.50788%		6.52762%
Weighted Average Max Rate Original										13.92543%		13.84364%		13.88691%
Weighted Average Max Rate Prior										13.87518%		13.82560%		13.85181%
Weighted Average Max Rate Current										13.87838%		13.81550%		13.84854%
Weighted Average Min Rate Original										7.15325%		7.11240%		7.13401%
Weighted Average Min Rate Prior										7.11226%		7.10117%		7.10703%
Weighted Average Min Rate Current										7.11684%		7.09539%		7.10666%
Weighted Average Cap Up Original										1.06895%		1.05995%		1.06471%
Weighted Average Cap Up Prior										1.07475%		1.06470%		1.07001%
Weighted Average Cap Up Current										1.07537%		1.06532%		1.07060%
Weighted Average Cap Down Original										1.06895%		1.05995%		1.06471%
Weighted Average Cap Down Prior										1.07475%		1.06470%		1.07001%
Weighted Average Cap Down Current										1.07537%		1.06532%		1.07060%




SERVICING FEES & ADVANCES

											Group 2		Group 1		Total




Current Servicing Fees										18,158.89		20,016.28		38,175.17
Delinquent Servicing Fees										119,890.86		117,508.24		237,399.10
TOTAL SERVICING FEES										138,049.75		137,524.51		275,574.26


Compensating Interest										-20,685.80		-21,024.77		-41,710.57
Delinquent Servicing Fees										-119,890.86		-117,508.24		-237,399.10
COLLECTED SERVICING FEES										89,259.89		-1,008.49		-3,535.40


Aggregate Advances with respect to this Distribution										1,568,683.08		1,364,715.92		2,933,399.00





ADDITIONAL COLLATERAL INFORMATION
										Group 2		Group 1		Total
Net Prepayment Interest Shortfall										0.00		0.00		0.00
Libor For Current Period														4.1913%
Libor For Next Period														4.3788%
Libor For Class A-3b for current Period




Page 9 of 30
Morgan Stanley Home Equity Loan Trust 2005-1

Mortgage Pass-Through Certificates

2005-1

December 27, 2005 Distribution
Delinquency Report

	TOTAL
					< 1 PAYMENT		1 PAYMENT		2 PAYMENTS		3+ PAYMENTS		TOTAL
	DELINQUENT		Balance				18,060,425.71		5,260,984.50		1,809,974.01		25,131,384.22
			% Balance				2.83%		0.83%		0.28%		3.94%
			# Loans				141		38		26		205
			% # Loans				2.94%		0.79%		0.54%		4.27%
	FORECLOSURE		Balance		501,730.69		295,532.52		1,497,315.66		12,715,665.08		15,010,243.95
			% Balance		0.08%		0.05%		0.24%		2.00%		2.36%
			# Loans		2		2		14		111		129
			% # Loans		0.04%		0.04%		0.29%		2.31%		2.69%
	BANKRUPTCY		Balance		6,033,159.25		1,314,928.97		643,404.26		6,405,562.74		14,397,055.22
			% Balance		0.95%		0.21%		0.10%		1.01%		2.26%
			# Loans		53		11		6		55		125
			% # Loans		1.10%		0.23%		0.13%		1.15%		2.60%
	REO		Balance		0.00		0.00		0.00		5,834,867.02		5,834,867.02
			% Balance		0.00%		0.00%		0.00%		0.92%		0.92%
			# Loans		0		0		0		46		46
			% # Loans		0.00%		0.00%		0.00%		0.96%		0.96%
	TOTAL		Balance		6,534,889.94		19,670,887.20		7,401,704.42		26,766,068.85		60,373,550.41
			% Balance		1.03%		3.09%		1.16%		4.20%		9.48%
			# Loans		55		154		58		238		505
			% # Loans		1.15%		3.21%		1.21%		4.96%		10.52%








Page 10 of 30
Morgan Stanley Home Equity Loan Trust 2005-1

Mortgage Pass-Through Certificates

2005-1

December 27, 2005 Distribution


	GROUP 1
					< 1 PAYMENT		1 PAYMENT		2 PAYMENTS		3+ PAYMENTS		TOTAL
	DELINQUENT		Balance				7,983,057.99		2,313,026.31		896,018.15		11,192,102.45
			% Balance				2.52%		0.73%		0.28%		3.53%
			# Loans				67		19		13		99
			% # Loans				2.53%		0.72%		0.49%		3.74%
	FORECLOSURE		Balance		0.00		240,678.91		988,176.17		7,022,090.40		8,250,945.48
			% Balance		0.00%		0.08%		0.31%		2.22%		2.60%
			# Loans		0		1		8		61		70
			% # Loans		0.00%		0.04%		0.30%		2.31%		2.65%
	BANKRUPTCY		Balance		3,998,865.86		335,524.07		282,607.57		2,163,547.67		6,780,545.17
			% Balance		1.26%		0.11%		0.09%		0.68%		2.14%
			# Loans		36		4		2		25		67
			% # Loans		1.36%		0.15%		0.08%		0.95%		2.53%
	REO		Balance		0.00		0.00		0.00		2,126,279.78		2,126,279.78
			% Balance		0.00%		0.00%		0.00%		0.67%		0.67%
			# Loans		0		0		0		20		20
			% # Loans		0.00%		0.00%		0.00%		0.76%		0.76%
	TOTAL		Balance		3,998,865.86		8,559,260.97		3,583,810.05		12,207,936.00		28,349,872.88
			% Balance		1.26%		2.70%		1.13%		3.85%		8.95%
			# Loans		36		72		29		119		256
			% # Loans		1.36%		2.72%		1.10%		4.50%		9.68%










Page 11 of 30
Morgan Stanley Home Equity Loan Trust 2005-1

Mortgage Pass-Through Certificates

2005-1

December 27, 2005 Distribution

	GROUP 2
					< 1 PAYMENT		1 PAYMENT		2 PAYMENTS		3+ PAYMENTS		TOTAL
	DELINQUENT		Balance				10,077,367.72		2,947,958.19		913,955.86		13,939,281.77
			% Balance				3.15%		0.92%		0.29%		4.35%
			# Loans				74		19		13		106
			% # Loans				3.43%		0.88%		0.60%		4.92%
	FORECLOSURE		Balance		501,730.69		54,853.61		509,139.49		5,693,574.68		6,759,298.47
			% Balance		0.16%		0.02%		0.16%		1.78%		2.11%
			# Loans		2		1		6		50		59
			% # Loans		0.09%		0.05%		0.28%		2.32%		2.74%
	BANKRUPTCY		Balance		2,034,293.39		979,404.90		360,796.69		4,242,015.07		7,616,510.05
			% Balance		0.64%		0.31%		0.11%		1.32%		2.38%
			# Loans		17		7		4		30		58
			% # Loans		0.79%		0.32%		0.19%		1.39%		2.69%
	REO		Balance		0.00		0.00		0.00		3,708,587.24		3,708,587.24
			% Balance		0.00%		0.00%		0.00%		1.16%		1.16%
			# Loans		0		0		0		26		26
			% # Loans		0.00%		0.00%		0.00%		1.21%		1.21%
	TOTAL		Balance		2,536,024.08		11,111,626.23		3,817,894.37		14,558,132.85		32,023,677.53
			% Balance		0.79%		3.47%		1.19%		4.54%		10.00%
			# Loans		19		82		29		119		249
			% # Loans		0.88%		3.81%		1.35%		5.52%		11.55%









Page 12 of 30
Morgan Stanley Home Equity Loan Trust 2005-1

Mortgage Pass-Through Certificates

2005-1

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
19147685 1
			51,800.00		51,580.06		01-Feb-2005		12.375%		CA - 20.00%		360		01-Oct-2004

322553561 1			67,200.00		67,200.00		01-Mar-2005		6.500%		OK - 80.00%		360		01-Oct-2004
322553637 1			99,920.00		99,919.44		01-Jun-2005		8.400%		MI - 80.00%		360		01-Oct-2004
322555038 1			174,250.00		172,682.87		01-Nov-2004		8.800%		MI - 85.00%		360		01-Oct-2004
322555715 1			76,800.00		76,799.16		01-Apr-2005		7.800%		TX - 80.00%		360		01-Sep-2004
322555772 1			147,200.00		146,156.47		01-Nov-2004		11.200%		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
322557794 1			92,000.00		92,000.00		01-May-2005		7.850%		MI - 80.00%		360		01-Oct-2004
322558024 1			98,400.00		97,575.53		01-Apr-2005		9.150%		TX - 80.00%		360		01-Oct-2004
322558685 1			72,800.00		72,061.77		01-May-2005		8.200%		MI - 80.00%		360		01-Oct-2004
322559451 1			70,800.00		70,243.84		01-Apr-2005		9.800%		TX - 80.00%		360		01-Sep-2004
322559477 1			99,200.00		98,343.40		01-Jan-2005		9.950%		TX - 80.00%		360		01-Sep-2004
322560459 1			128,800.00		127,386.97		01-Feb-2005		7.800%		MI - 80.00%		360		01-Oct-2004
322561556 1			61,050.00		61,042.70		01-May-2005		8.300%		MI - 85.62%		360		01-Oct-2004
322561820 1			220,000.00		220,000.00		01-Dec-2004		6.450%		CO - 80.00%		360		01-Oct-2004
322562950 1			48,800.00		48,800.00		01-Apr-2005		9.100%		MI - 80.00%		360		01-Oct-2004
322564378 1			180,000.00		178,266.25		01-Feb-2005		8.550%		TX - 90.00%		360		01-Oct-2004
322564915 1			73,600.00		73,600.00		01-Apr-2005		5.400%		MI - 80.00%		360		01-Oct-2004
322595125 1			131,000.00		129,904.76		01-Feb-2005		9.500%		TN - 100.00%		360		01-Sep-2004
322859117 1			119,760.00		118,892.56		01-Feb-2005		9.125%		MI - 80.00%		360		01-Dec-2004
19148543 2			468,000.00		468,000.00		01-Dec-2004		6.375%		CO - 90.00%		360		01-Oct-2004
19152388 2			44,000.00		43,629.42		01-Mar-2005		9.125%		MO - 88.00%		360		01-Oct-2004
322121971 2			145,520.00		143,315.74		01-Apr-2005		6.550%		MN - 80.00%		360		01-Sep-2004
322243155 2			74,160.00		73,640.14		01-Feb-2005		10.350%		WI - 80.00%		360		01-Sep-2004
322244666 2			103,200.00		101,903.04		01-Dec-2004		7.100%		MN - 80.00%		360		01-Oct-2004
322245085 2			146,320.00		144,256.51		01-Jan-2005		6.850%		CO - 80.00%		360		01-Sep-2004
322245317 2			74,472.00		73,679.66		01-Apr-2005		8.300%		MO - 80.00%		360		01-Sep-2004
322553405 2			128,800.00		127,606.06		01-Jan-2005		8.650%		MI - 80.00%		360		01-Oct-2004
322553454 2			75,650.00		74,982.53		01-Jan-2005		9.550%		MI - 85.00%		360		01-Aug-2004
322555681 2			336,000.00		331,676.67		01-Nov-2004		7.150%		IL - 80.00%		360		01-Oct-2004
322555723 2			256,500.00		254,350.79		01-Dec-2004		9.150%		OH - 90.00%		360		01-Oct-2004
322556598 2			138,700.00		137,499.23		01-Dec-2004		9.100%		MI - 95.00%		360		01-Oct-2004
322556663 2			60,400.00		59,798.95		01-Feb-2005		10.250%		KS - 80.00%		360		01-Oct-2004
322557729 2			266,800.00		264,754.01		01-Apr-2005		9.900%		MN - 80.00%		360		01-Oct-2004
322558560 2			47,500.00		47,114.22		01-Feb-2005		9.700%		KS - 95.00%		360		01-Oct-2004
322558800 2			74,955.00		74,496.75		01-Dec-2004		11.000%		TX - 95.00%		360		01-Sep-2004
322559394 2			136,000.00		135,065.41		01-May-2005		10.150%		MO - 80.00%		360		01-Oct-2004
322559618 2			98,205.00		97,276.36		01-Apr-2005		8.550%		TX - 86.22%		360		01-Oct-2004
322560038 2			152,450.00		151,078.95		01-Nov-2004		8.800%		MI - 89.15%		360		01-Oct-2004
322561648 2			123,500.00		122,077.31		01-Nov-2004		7.550%		IL - 95.00%		360		01-Oct-2004
322562372 2			232,000.00		232,000.00		01-Mar-2005		6.650%		TX - 80.00%		360		01-Nov-2004
322565219 2			198,000.00		195,696.80		01-Nov-2004		7.500%		CO - 90.00%		360		01-Oct-2004
322591116 2			120,000.00		118,499.22		01-Dec-2004		7.125%		ME - 80.00%		360		01-Oct-2004
322861204 2			52,000.00		51,590.55		01-May-2005		8.750%		MO - 80.00%		360		01-Dec-2004
322862228 2			111,620.00		110,825.87		01-Apr-2005		9.249%		MI - 95.00%		360		01-Dec-2004
322862566 2			74,400.00		73,773.05		01-Apr-2005		8.375%		GA - 80.00%		360		01-Dec-2004


TOTAL			5,876,356.00		5,834,867.02


Page 13 of 30
Morgan Stanley Home Equity Loan Trust 2005-1

Mortgage Pass-Through Certificates

2005-1

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
19143072 1
			96,000.00		94,294.66		01-Jul-2005		5.750%		NC - 80.00%		360		01-Sep-2004

19144989 1			93,400.00		93,400.00		01-Jul-2005		7.250%		NC - 79.83%		360		01-Sep-2004
19145507 1			346,500.00		342,867.73		01-Feb-2005		8.375%		IL - 94.99%		360		01-Sep-2004
19145523 1			136,000.00		134,299.01		01-Mar-2005		7.125%		IL - 80.00%		360		01-Oct-2004
19146505 1			124,500.00		123,060.74		01-Jul-2005		7.625%		PA - 84.98%		360		01-Oct-2004
19146786 1			71,200.00		70,396.18		01-Feb-2005		8.000%		WI - 79.11%		360		01-Sep-2004
19146794 1			17,850.00		17,754.47		01-Mar-2005		11.625%		WI - 19.83%		180		01-Sep-2004
19147768 1			284,800.00		284,800.00		01-Dec-2004		7.000%		CA - 80.00%		360		01-Oct-2004
19148147 1			36,400.00		36,180.67		01-Jun-2005		11.125%		CA - 20.00%		360		01-Sep-2004
19148592 1			90,000.00		89,015.50		01-Jun-2005		8.125%		CA - 48.65%		360		01-Oct-2004
19150085 1			138,400.00		137,203.71		01-Aug-2005		9.000%		LA - 80.00%		360		01-Oct-2004
19151828 1			146,400.00		145,167.05		01-Jul-2005		9.125%		TN - 80.00%		360		01-Oct-2004
19151901 1			258,000.00		255,210.81		01-Mar-2005		7.875%		IL - 100.00%		360		01-Oct-2004
19152495 1			218,000.00		218,000.00		01-Jun-2005		6.000%		MA - 80.00%		360		01-Oct-2004
19152719 1			243,000.00		240,678.91		01-Sep-2005		8.500%		FL - 90.00%		360		01-Oct-2004
19154301 1			188,000.00		186,533.27		01-Jun-2005		9.500%		TN - 80.00%		360		01-Oct-2004
19154475 1			225,000.00		222,252.57		01-Aug-2005		7.250%		RI - 90.00%		360		01-Oct-2004
19155175 1			202,500.00		200,256.55		01-Mar-2005		7.750%		IL - 81.00%		360		01-Oct-2004
19155662 1			37,000.00		36,899.09		01-Jun-2005		14.375%		GA - 20.00%		180		01-Oct-2004
19155803 1			192,000.00		190,207.24		01-Jul-2005		8.250%		FL - 80.00%		360		01-Nov-2004
19156314 1			150,450.00		149,272.00		01-Jun-2005		9.125%		CA - 85.00%		360		01-Nov-2004
19157528 1			108,000.00		107,199.60		01-Aug-2005		9.750%		TN - 79.41%		360		01-Oct-2004
19159110 1			136,000.00		134,791.94		01-Feb-2005		8.500%		IL - 80.00%		360		01-Nov-2004
19159466 1			96,000.00		94,986.07		01-Mar-2005		7.625%		AZ - 80.00%		360		01-Nov-2004
19159573 1			60,000.00		59,350.59		01-Apr-2005		7.500%		IA - 77.42%		360		01-Nov-2004
322119926 1			72,650.00		71,694.20		01-Mar-2005		8.250%		IN - 83.51%		360		01-Jun-2004
322120114 1			72,000.00		70,948.44		01-Jun-2005		7.000%		OH - 80.00%		360		01-Aug-2004
322121369 1			56,007.00		55,374.70		01-Dec-2004		8.000%		OK - 76.20%		360		01-Sep-2004
322244476 1			71,920.00		71,269.76		01-Mar-2005		10.550%		OH - 80.00%		360		01-Sep-2004
322245804 1			109,800.00		108,558.41		01-Mar-2005		7.650%		IL - 90.00%		360		01-Oct-2004
322556192 1			140,000.00		139,954.50		01-Aug-2005		7.800%		MI - 80.00%		360		01-Oct-2004
322556291 1			124,900.00		123,842.85		01-May-2005		9.100%		KS - 87.96%		360		01-Oct-2004
322556366 1			168,000.00		168,000.00		01-Jul-2005		7.750%		TX - 80.00%		360		01-Oct-2004
322556416 1			135,200.00		134,218.61		01-Jun-2005		9.950%		TX - 80.00%		360		01-Oct-2004
322556820 1			198,000.00		198,000.00		01-May-2005		6.350%		WA - 80.00%		360		01-Oct-2004
322558669 1			44,000.00		43,168.86		01-Aug-2005		7.500%		MI - 80.00%		360		01-Oct-2004
322558990 1			104,000.00		102,669.33		01-Jun-2005		7.750%		OK - 80.00%		360		01-Sep-2004
322559220 1			63,750.00		63,287.21		01-Jun-2005		9.850%		MI - 85.00%		360		01-Oct-2004
322559287 1			158,950.00		157,552.97		01-Jul-2005		10.150%		MI - 85.00%		360		01-Oct-2004
322560715 1			93,600.00		92,775.00		01-Jun-2005		8.900%		TX - 80.00%		360		01-Oct-2004
322561838 1			66,800.00		65,265.37		01-Aug-2005		5.100%		KY - 80.00%		360		01-Oct-2004
322561978 1			102,560.00		102,560.00		01-May-2005		7.450%		IL - 80.00%		360		01-Nov-2004
322562257 1			113,600.00		112,262.29		01-Mar-2005		7.450%		OH - 80.00%		360		01-Oct-2004
322562307 1			53,650.00		53,152.68		01-Feb-2005		8.650%		OH - 80.08%		360		01-Oct-2004
322562646 1			100,800.00		100,800.00		01-Jul-2005		6.750%		OH - 80.00%		360		01-Nov-2004
322563156 1			147,900.00		145,552.58		01-Apr-2005		5.600%		KY - 85.00%		360		01-Nov-2004
322563768 1			56,000.00		55,277.18		01-Jun-2005		7.900%		OH - 80.00%		360		01-Nov-2004
322565011 1			63,835.00		63,317.72		01-Jul-2005		10.550%		OH - 80.00%		360		01-Oct-2004
322572330 1			88,000.00		86,740.50		01-Jul-2005		6.450%		CT - 80.00%		360		01-Oct-2004


Page 14 of 30
Morgan Stanley Home Equity Loan Trust 2005-1

Mortgage Pass-Through Certificates

2005-1

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
322572348 1
			22,000.00		21,615.84		01-Jul-2005		11.450%		CT - 20.00%		240		01-Oct-2004

322572678 1			172,000.00		168,948.28		01-Dec-2004		5.250%		OH - 80.00%		360		01-Oct-2004
322573759 1			155,120.00		155,120.00		01-Aug-2005		6.790%		MN - 80.00%		360		01-Nov-2004
322579715 1			144,000.00		142,983.36		01-Mar-2005		9.250%		IL - 80.00%		360		01-Dec-2004
322580218 1			122,406.00		121,329.46		01-May-2005		8.550%		TX - 87.82%		360		01-Nov-2004
322582271 1			173,666.00		171,323.70		01-Apr-2005		6.350%		AL - 77.18%		360		01-Nov-2004
322585480 1			175,200.00		175,200.00		01-Dec-2004		6.190%		OH - 80.00%		360		01-Oct-2004
322586827 1			156,000.00		153,943.58		01-Jun-2005		6.850%		CO - 80.00%		360		01-Oct-2004
322587635 1			85,000.00		83,908.99		01-Nov-2004		6.990%		PA - 85.00%		360		01-Oct-2004
322590993 1			120,000.00		118,011.56		01-Aug-2005		5.990%		CT - 80.00%		360		01-Sep-2004
322593856 1			58,280.00		57,423.71		01-Apr-2005		6.880%		IL - 89.66%		360		01-Sep-2004
322594524 1			54,400.00		53,941.83		01-Apr-2005		10.250%		IN - 85.00%		360		01-Aug-2004
322595166 1			121,400.00		120,460.83		01-Jul-2005		9.875%		VA - 89.99%		360		01-Sep-2004
322595992 1			40,000.00		39,674.16		01-Jan-2005		9.625%		PA - 100.00%		360		01-Sep-2004
322596065 1			22,700.00		22,487.05		01-Nov-2004		9.250%		AZ - 20.00%		180		01-Aug-2004
322597014 1			97,600.00		96,272.48		01-May-2005		7.374%		UT - 80.00%		360		01-Aug-2004
322858648 1			233,600.00		231,723.84		01-Apr-2005		9.000%		IL - 80.00%		360		01-Nov-2004
322860362 1			80,800.00		80,133.90		01-May-2005		8.750%		IN - 80.00%		360		01-Dec-2004
322861857 1			44,200.00		43,735.16		01-Mar-2005		7.250%		IN - 85.00%		360		01-Dec-2004
322862186 1			41,220.00		40,786.51		01-Mar-2005		7.250%		IN - 84.99%		360		01-Dec-2004
322863333 1			102,400.00		101,599.72		01-May-2005		8.750%		UT - 80.00%		360		01-Dec-2004
19143171 2			49,000.00		48,629.06		01-Jun-2005		9.875%		PA - 70.00%		360		01-Sep-2004
19144591 2			63,600.00		62,773.87		01-Jun-2005		7.250%		KY - 80.00%		360		01-Sep-2004
19144658 2			116,000.00		113,920.17		01-Apr-2005		7.125%		FL - 78.91%		360		01-Oct-2004
19144799 2			81,200.00		79,856.90		01-Jun-2005		6.000%		IN - 80.00%		360		01-Sep-2004
19145853 2			66,500.00		65,819.23		01-Aug-2005		8.500%		AZ - 70.00%		360		01-Sep-2004
19146299 2			61,625.00		60,979.07		01-Jun-2005		8.375%		IA - 85.00%		360		01-Sep-2004
19147677 2			207,200.00		205,119.95		01-Mar-2005		8.250%		CA - 80.00%		360		01-Oct-2004
19148824 2			55,350.00		54,853.61		01-Sep-2005		9.125%		IL - 90.00%		360		01-Oct-2004
19148949 2			96,000.00		94,740.51		01-Aug-2005		6.875%		KY - 80.00%		360		01-Oct-2004
19149236 2			292,000.00		288,843.27		01-Jun-2005		7.875%		RI - 76.84%		360		01-Oct-2004
19149780 2			59,400.00		58,673.31		01-Jul-2005		7.625%		IL - 90.00%		360		01-Sep-2004
19151158 2			80,000.00		79,255.94		01-May-2005		8.875%		MI - 79.21%		360		01-Oct-2004
19151703 2			85,000.00		84,284.10		01-Dec-2004		9.125%		KY - 85.00%		360		01-Oct-2004
19152552 2			78,000.00		77,255.02		01-Apr-2005		8.500%		NC - 98.73%		360		01-Oct-2004
19154756 2			160,000.00		158,393.66		01-Jul-2005		8.250%		CA - 39.02%		360		01-Oct-2004
19155605 2			126,400.00		125,033.55		01-Jul-2005		7.875%		CT - 80.00%		360		01-Oct-2004
19155654 2			148,000.00		146,438.90		01-Jun-2005		8.000%		GA - 80.00%		360		01-Oct-2004
19156207 2			238,400.00		235,924.65		01-Jun-2005		7.875%		MI - 80.00%		360		01-Nov-2004
19159649 2			102,400.00		101,638.16		01-Jul-2005		9.375%		FL - 80.00%		360		01-Nov-2004
322119892 2			35,000.00		34,590.91		01-Jun-2005		8.150%		OK - 43.75%		360		01-Aug-2004
322120999 2			107,200.00		105,619.42		01-Jun-2005		6.950%		OH - 80.00%		360		01-Aug-2004
322121823 2			111,120.00		109,251.03		01-May-2005		6.250%		OH - 80.00%		360		01-Aug-2004
322122375 2			99,920.00		98,510.85		01-Jul-2005		6.850%		KY - 80.00%		360		01-Sep-2004
322243163 2			88,000.00		86,904.59		01-Aug-2005		7.500%		OH - 80.00%		360		01-Sep-2004
322243395 2			132,000.00		131,057.97		01-May-2005		10.300%		IL - 80.00%		360		01-Sep-2004
322243544 2			117,520.00		116,388.37		01-May-2005		8.800%		OH - 80.00%		360		01-Sep-2004
322244153 2			121,600.00		120,390.06		01-May-2005		9.800%		OH - 80.00%		360		01-Sep-2004
322245093 2			112,837.00		111,290.56		01-May-2005		7.000%		TX - 80.00%		360		01-Sep-2004
322245374 2			108,000.00		106,491.34		01-May-2005		6.900%		KY - 80.00%		360		01-Sep-2004
322246083 2			108,000.00		106,937.10		01-Apr-2005		8.350%		KY - 80.00%		360		01-Oct-2004


Page 15 of 30
Morgan Stanley Home Equity Loan Trust 2005-1

Mortgage Pass-Through Certificates

2005-1

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
322554254 2
			85,000.00		83,972.30		01-Jul-2005		7.650%		MO - 85.00%		360		01-Sep-2004

322554999 2			126,000.00		124,607.94		01-Jun-2005		9.000%		MN - 78.75%		360		01-Oct-2004
322555574 2			193,500.00		191,612.15		01-Jan-2005		8.450%		IL - 90.00%		360		01-Oct-2004
322555822 2			64,000.00		63,325.69		01-Apr-2005		8.350%		OH - 80.00%		360		01-Sep-2004
322557463 2			77,940.00		77,275.07		01-May-2005		9.400%		MI - 90.00%		360		01-Sep-2004
322558842 2			94,450.00		93,697.98		01-Jul-2005		9.400%		MO - 85.90%		360		01-Oct-2004
322559212 2			104,800.00		104,176.18		01-Jul-2005		10.800%		MO - 80.00%		360		01-Oct-2004
322560285 2			120,800.00		119,245.79		01-Jul-2005		6.600%		MI - 80.00%		360		01-Nov-2004
322561044 2			127,655.00		126,198.64		01-Mar-2005		7.600%		IL - 88.10%		360		01-Oct-2004
322561465 2			52,000.00		52,000.00		01-Jan-2005		8.800%		IN - 80.00%		360		01-Oct-2004
322564212 2			50,800.00		50,224.15		01-Jul-2005		7.650%		MO - 80.00%		360		01-Oct-2004
322564337 2			140,250.00		138,975.84		01-Mar-2005		8.750%		MI - 85.00%		360		01-Oct-2004
322564527 2			153,000.00		151,524.71		01-Apr-2005		8.100%		IL - 85.00%		360		01-Nov-2004
322574179 2			92,800.00		91,490.18		01-Aug-2005		6.500%		FL - 80.00%		360		01-Oct-2004
322578261 2			96,050.00		95,339.02		01-Feb-2005		9.400%		OH - 85.00%		360		01-Nov-2004
322579301 2			104,000.00		103,230.16		01-Feb-2005		9.400%		MI - 86.67%		360		01-Nov-2004
322579343 2			67,920.00		67,440.77		01-Aug-2005		9.650%		MO - 80.00%		360		01-Nov-2004
322580267 2			364,000.00		363,999.13		01-Jul-2005		7.550%		TX - 80.00%		360		01-Nov-2004
322585555 2			80,000.00		79,131.81		01-Mar-2005		7.950%		OH - 100.00%		360		01-Oct-2004
322589888 2			83,000.00		81,934.78		01-Nov-2004		6.990%		IN - 76.85%		360		01-Oct-2004
322597303 2			117,600.00		116,484.54		01-Jul-2005		8.875%		GA - 80.00%		360		01-Sep-2004
322597444 2			379,050.00		379,049.99		01-Oct-2005		7.000%		IN - 95.00%		360		01-Sep-2004
322858424 2			48,000.00		47,551.78		01-Jul-2005		8.249%		VA - 80.00%		360		01-Nov-2004
322858689 2			58,400.00		58,136.29		01-Apr-2005		11.750%		IL - 20.00%		180		01-Nov-2004
322859455 2			124,000.00		122,680.70		01-Oct-2005		7.250%		FL - 80.00%		360		01-Dec-2004
322860008 2			159,800.00		158,550.87		01-May-2005		8.749%		CO - 85.00%		360		01-Dec-2004
322860297 2			103,920.00		102,744.21		01-Aug-2005		6.875%		UT - 80.00%		360		01-Dec-2004
322860370 2			135,000.00		133,994.98		01-Jun-2005		8.990%		NE - 100.00%		360		01-Dec-2004
322862236 2			112,200.00		110,837.69		01-Jun-2005		6.500%		IA - 81.90%		360		01-Dec-2004


TOTAL			15,146,521.00		15,010,243.95


Page 16 of 30
Morgan Stanley Home Equity Loan Trust 2005-1

Mortgage Pass-Through Certificates

2005-1

December 27, 2005 Distribution
Prepayment Report

VOLUNTARY PREPAYMENTS


											Group 2		Group 1		Total




Current


Number of Paid in Full Loans										68		105		173
Number of Repurchased Loans										0		0		0
Total Number of Loans Prepaid in Full										68		105		173
Curtailments Amount										9,143.05		31,437.01		40,580.06
Paid in Full Balance										10,555,309.04		13,047,188.62		23,602,497.66
Repurchased Loans Balance										0.00		0.00		0.00
Total Prepayment Amount										10,564,452.09		13,078,625.63		23,643,077.72

Cumulative


Number of Paid in Full Loans										791		917		1,708
Number of Repurchased Loans										1		0		1
Total Number of Loans Prepaid in Full										792		917		1,709
Paid in Full Balance										137,129,658.00		129,216,705.05		266,346,363.05
Repurchased Loans Balance										129,373.55		0.00		129,373.55
Curtailments Amount										1,148,899.12		670,735.07		1,819,634.19
Total Prepayment Amount										138,407,930.67		129,887,440.12		268,295,370.79










Page 17 of 30
Morgan Stanley Home Equity Loan Trust 2005-1

Mortgage Pass-Through Certificates

2005-1

December 27, 2005 Distribution

VOLUNTARY PREPAYMENTS RATES


											Group 2		Group 1		Total



SMM										3.26%		3.96%		3.61%
3 Months Avg SMM										4.26%		4.12%		4.19%
12 Months Avg SMM										3.22%		3.08%		3.15%
Avg SMM Since Cut-off										3.22%		3.08%		3.15%


CPR										32.80%		38.46%		35.68%
3 Months Avg CPR										40.66%		39.63%		40.15%
12 Months Avg CPR										32.45%		31.32%		31.89%
Avg CPR Since Cut-off										32.45%		31.32%		31.89%


PSA										1,095.71%		1,288.40%		1,193.64%
3 Months Avg PSA Approximation										1,455.35%		1,423.49%		1,439.64%
12 Months Avg PSA Approximation										1,626.46%		1,576.65%		1,601.99%
Avg PSA Since Cut-off Approximation										1,626.46%		1,576.66%		1,601.99%










Page 18 of 30
Morgan Stanley Home Equity Loan Trust 2005-1

Mortgage Pass-Through Certificates

2005-1

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 19 of 30
Morgan Stanley Home Equity Loan Trust 2005-1

Mortgage Pass-Through Certificates

2005-1

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

19142991 1			105,600.00		104,341.49			01-Nov-2005		7.375%		CA - 80.00%		Paid Off - 360		01-Sep-2004

19143148 2			167,400.00		167,400.00			22-Nov-2005		7.625%		IL - 90.00%		Paid Off - 360		01-Sep-2004
19143213 2			127,000.00		126,009.30			16-Nov-2005		9.500%		WI - 76.05%		Paid Off - 360		01-Sep-2004
19143452 1			170,400.00		170,328.34			21-Nov-2005		6.875%		CA - 80.00%		Paid Off - 360		01-Sep-2004
19143502 1			168,000.00		166,312.43			21-Nov-2005		8.250%		FL - 80.00%		Paid Off - 360		01-Sep-2004
19143601 1			71,200.00		70,411.10			28-Nov-2005		7.750%		MD - 80.00%		Paid Off - 360		01-Sep-2004
19144070 2			139,500.00		137,837.42			04-Nov-2005		7.375%		IL - 90.00%		Paid Off - 360		01-Sep-2004
19144161 1			86,700.00		85,481.76			02-Nov-2005		7.000%		FL - 85.00%		Paid Off - 360		01-Sep-2004
19145663 2			236,000.00		235,920.89			17-Nov-2005		8.250%		WA - 80.00%		Paid Off - 360		01-Oct-2004
19145754 2			200,000.00		197,312.76			09-Nov-2005		6.750%		CA - 80.00%		Paid Off - 360		01-Sep-2004
19145952 2			106,400.00		104,936.17			04-Nov-2005		6.625%		AZ - 80.00%		Paid Off - 360		01-Sep-2004
19146471 2			212,600.00		209,831.65			30-Nov-2005		6.625%		FL - 79.98%		Paid Off - 360		01-Oct-2004
19146489 1			53,200.00		52,951.55			30-Nov-2005		11.625%		FL - 20.02%		Paid Off - 180		01-Oct-2004
19147537 1			209,000.00		206,448.16			18-Nov-2005		6.875%		IL - 95.00%		Paid Off - 360		01-Oct-2004
19147735 2			105,000.00		104,041.55			30-Nov-2005		8.375%		CA - 68.63%		Paid Off - 360		01-Oct-2004
19148006 1			221,600.00		221,600.00			07-Nov-2005		6.875%		CA - 80.00%		Paid Off - 360		01-Oct-2004
19148014 1			55,400.00		55,156.50			07-Nov-2005		11.875%		CA - 20.00%		Paid Off - 360		01-Oct-2004
19148501 1			112,500.00		111,683.94			30-Nov-2005		9.500%		CA - 83.33%		Paid Off - 360		01-Oct-2004
19148600 2			113,000.00		111,553.03			07-Nov-2005		6.625%		IL - 84.96%		Paid Off - 360		01-Oct-2004
19149327 2			365,500.00		361,802.35			14-Nov-2005		7.875%		CA - 85.00%		Paid Off - 360		01-Oct-2004
19149715 1			257,000.00		254,184.02			16-Nov-2005		7.500%		CA - 95.01%		Paid Off - 360		01-Oct-2004
19149889 2			81,000.00		80,412.62			18-Nov-2005		9.500%		GA - 90.00%		Paid Off - 360		01-Oct-2004
19150630 2			200,000.00		197,727.88			18-Nov-2005		7.250%		RI - 81.63%		Paid Off - 360		01-Oct-2004
19150747 1			161,600.00		159,530.75			21-Nov-2005		6.625%		CA - 80.00%		Paid Off - 360		01-Oct-2004
19150754 1			40,400.00		40,236.35			21-Nov-2005		12.250%		CA - 20.00%		Paid Off - 360		01-Oct-2004
19150986 2			297,500.00		295,170.56			04-Nov-2005		9.125%		CA - 85.00%		Paid Off - 360		01-Oct-2004
19151505 2			460,800.00		460,800.00			30-Nov-2005		6.750%		CA - 79.45%		Paid Off - 360		01-Oct-2004
19151513 2			115,200.00		114,651.16			30-Nov-2005		11.500%		CA - 19.86%		Paid Off - 360		01-Oct-2004
19151588 1			242,400.00		239,776.48			30-Nov-2005		7.500%		FL - 80.00%		Paid Off - 360		01-Oct-2004
19151596 1			60,600.00		60,223.75			14-Nov-2005		10.250%		FL - 20.00%		Paid Off - 180		01-Oct-2004
19151869 2			118,400.00		117,519.07			14-Nov-2005		9.375%		MI - 80.00%		Paid Off - 360		01-Oct-2004
19151992 1			192,000.00		192,000.00			14-Nov-2005		7.500%		CA - 80.00%		Paid Off - 360		01-Oct-2004
19152016 1			104,000.00		102,593.18			23-Nov-2005		6.750%		CA - 80.00%		Paid Off - 360		01-Oct-2004
19152024 1			26,000.00		25,846.86			23-Nov-2005		10.500%		CA - 20.00%		Paid Off - 360		01-Oct-2004
19152065 1			62,200.00		61,941.08			04-Nov-2005		12.125%		CA - 19.94%		Paid Off - 360		01-Oct-2004
19152586 1			104,500.00		103,524.29			22-Nov-2005		8.250%		PA - 95.00%		Paid Off - 360		01-Oct-2004
19153030 2			572,000.00		571,999.98			14-Nov-2005		6.875%		IL - 80.56%		Paid Off - 360		01-Oct-2004
19154822 1			292,000.00		292,000.00			02-Nov-2005		7.125%		CA - 80.00%		Paid Off - 360		01-Oct-2004
19154830 2			73,000.00		72,546.85			02-Nov-2005		10.250%		CA - 20.00%		Paid Off - 360		01-Oct-2004
19155035 2			108,000.00		106,681.39			01-Nov-2005		6.875%		ID - 80.00%		Paid Off - 360		01-Oct-2004
19155092 2			84,000.00		83,406.29			16-Nov-2005		9.625%		WY - 80.00%		Paid Off - 360		01-Oct-2004


Page 20 of 30
Morgan Stanley Home Equity Loan Trust 2005-1

Mortgage Pass-Through Certificates

2005-1

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

19155167 2			227,920.00		226,042.60			30-Nov-2005		8.875%		IL - 79.97%		Paid Off - 360		01-Oct-2004

19155399 2			244,000.00		242,140.67			18-Nov-2005		8.875%		FL - 82.71%		Paid Off - 360		01-Nov-2004
19155506 2			156,800.00		154,911.89			15-Nov-2005		7.750%		FL - 80.00%		Paid Off - 360		01-Nov-2004
19155514 1			39,200.00		38,096.56			15-Nov-2005		9.625%		FL - 20.00%		Paid Off - 180		01-Nov-2004
19156587 2			380,000.00		380,000.00			04-Nov-2005		6.875%		CA - 80.00%		Paid Off - 360		01-Nov-2004
19156702 2			143,900.00		143,900.00			02-Nov-2005		7.375%		CA - 79.99%		Paid Off - 360		01-Oct-2004
19156710 1			36,000.00		35,858.14			07-Nov-2005		12.375%		CA - 20.01%		Paid Off - 360		01-Oct-2004
19156801 1			248,000.00		247,997.49			14-Nov-2005		6.625%		CA - 80.00%		Paid Off - 360		01-Nov-2004
19156819 1			62,000.00		61,673.37			07-Nov-2005		11.500%		CA - 20.00%		Paid Off - 360		01-Nov-2004
19157924 1			115,900.00		114,614.80			04-Nov-2005		7.375%		NC - 79.99%		Paid Off - 360		01-Oct-2004
19158021 1			196,000.00		194,036.48			22-Nov-2005		7.500%		MD - 80.00%		Paid Off - 360		01-Nov-2004
19158641 1			221,600.00		221,600.00			07-Nov-2005		6.500%		CA - 80.00%		Paid Off - 360		01-Nov-2004
19158658 1			55,400.00		55,113.79			07-Nov-2005		10.750%		CA - 20.00%		Paid Off - 360		01-Nov-2004
19159193 1			56,000.00		55,305.20			15-Nov-2005		9.125%		FL - 70.00%		Paid Off - 360		01-Nov-2004
19159219 1			230,000.00		227,461.84			21-Nov-2005		7.000%		RI - 73.02%		Paid Off - 360		01-Nov-2004
19159276 2			330,000.00		326,773.33			02-Nov-2005		7.625%		MD - 75.00%		Paid Off - 360		01-Nov-2004
19160571 1			112,700.00		111,571.03			23-Nov-2005		7.500%		AZ - 80.00%		Paid Off - 360		01-Nov-2004
19160811 1			111,000.00		109,887.76			28-Nov-2005		7.500%		IL - 73.51%		Paid Off - 360		01-Nov-2004
19161264 1			150,100.00		148,468.20			21-Nov-2005		7.250%		FL - 95.00%		Paid Off - 360		01-Nov-2004
19161413 1			246,000.00		243,535.52			15-Nov-2005		7.500%		IL - 70.29%		Paid Off - 360		01-Nov-2004
322119686 1			135,920.00		134,530.14			23-Nov-2005		8.500%		KY - 80.00%		Paid Off - 360		01-Aug-2004
322119868 2			160,000.00		157,471.18			01-Dec-2005		6.300%		OH - 44.82%		Paid Off - 360		01-Aug-2004
322120320 2			144,800.00		143,175.05			22-Nov-2005		8.950%		AZ - 80.00%		Paid Off - 180		01-May-2004
322120338 1			130,400.00		130,397.20			17-Nov-2005		6.600%		IL - 80.00%		Paid Off - 360		01-Aug-2004
322122201 2			59,200.00		58,509.19			22-Nov-2005		7.500%		WI - 80.00%		Paid Off - 360		01-Sep-2004
322122318 2			67,600.00		66,716.13			05-Dec-2005		6.950%		IA - 80.00%		Paid Off - 360		01-Sep-2004
322243239 2			89,600.00		88,709.32			14-Dec-2005		8.300%		MI - 80.00%		Paid Off - 360		01-Sep-2004
322243411 2			45,200.00		44,931.02			30-Nov-2005		10.800%		OK - 80.00%		Paid Off - 360		01-Sep-2004
322244385 1			85,000.00		84,011.31			23-Nov-2005		8.850%		MO - 85.00%		Paid Off - 360		01-Sep-2004
322244526 1			220,480.00		208,755.89			21-Nov-2005		6.900%		MO - 80.00%		Paid Off - 180		01-Aug-2004
322245044 2			75,200.00		74,294.97			22-Nov-2005		6.950%		IL - 80.00%		Paid Off - 360		01-Oct-2004
322245531 2			80,800.00		79,900.07			05-Dec-2005		7.850%		IN - 80.00%		Paid Off - 360		01-Sep-2004
322245887 2			95,200.00		94,370.13			25-Nov-2005		8.600%		IL - 85.00%		Paid Off - 360		01-Oct-2004
322553520 2			192,645.00		190,413.71			13-Dec-2005		7.150%		NV - 90.00%		Paid Off - 360		01-Oct-2004
322553827 1			134,400.00		132,868.12			06-Dec-2005		8.550%		MN - 80.00%		Paid Off - 360		01-Oct-2004
322553884 2			91,800.00		91,047.58			14-Nov-2005		8.900%		OH - 90.00%		Paid Off - 360		01-Oct-2004
322553991 1			125,520.00		124,107.71			08-Dec-2005		7.300%		WI - 80.00%		Paid Off - 360		01-Oct-2004
322554734 1			196,800.00		194,619.69			09-Dec-2005		8.150%		MI - 80.00%		Paid Off - 360		01-Sep-2004
322555236 2			70,910.00		69,812.92			23-Nov-2005		6.450%		IL - 78.88%		Paid Off - 360		01-Aug-2004
322555418 1			150,200.00		150,198.04			17-Nov-2005		6.550%		WA - 80.00%		Paid Off - 360		01-Oct-2004
322555749 1			133,600.00		133,163.94			16-Nov-2005		7.550%		MI - 80.00%		Paid Off - 360		01-Oct-2004
322555970 1			90,400.00		90,400.00			23-Nov-2005		6.500%		AZ - 80.00%		Paid Off - 360		01-Oct-2004
322556499 1			83,100.00		82,935.89			13-Dec-2005		8.250%		MI - 84.80%		Paid Off - 360		01-Oct-2004


Page 21 of 30
Morgan Stanley Home Equity Loan Trust 2005-1

Mortgage Pass-Through Certificates

2005-1

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

322556655 1			149,200.00		149,199.80			29-Nov-2005		7.700%		KY - 80.00%		Paid Off - 360		01-Oct-2004

322556705 2			124,000.00		123,063.18			02-Dec-2005		9.300%		AZ - 80.00%		Paid Off - 360		01-Oct-2004
322556838 1			150,938.00		148,598.14			18-Nov-2005		5.600%		CA - 80.00%		Paid Off - 360		01-Oct-2004
322556853 2			80,470.00		79,434.65			07-Dec-2005		6.600%		TX - 80.00%		Paid Off - 360		01-Oct-2004
322556960 1			97,520.00		96,464.60			08-Dec-2005		7.500%		OK - 80.00%		Paid Off - 360		01-Oct-2004
322557588 2			207,000.00		204,411.54			06-Dec-2005		6.750%		IL - 90.00%		Paid Off - 360		01-Oct-2004
322558610 2			99,900.00		98,546.99			12-Dec-2005		7.900%		OH - 90.00%		Paid Off - 360		01-Oct-2004
322558826 1			113,500.00		112,431.10			18-Nov-2005		8.850%		KS - 87.31%		Paid Off - 360		01-Sep-2004
322558909 2			120,600.00		119,090.64			17-Nov-2005		7.800%		MI - 90.00%		Paid Off - 360		01-Jul-2004
322559519 2			52,250.00		51,555.93			#######		7.750%		OH - 95.00%		Paid Off - 360		01-Oct-2004
322559915 1			265,200.00		262,006.95			25-Nov-2005		6.950%		IL - 85.00%		Paid Off - 360		01-Oct-2004
322560053 1			308,000.00		302,660.71			02-Dec-2005		6.300%		CA - 80.00%		Paid Off - 360		01-Oct-2004
322560624 2			164,800.00		164,784.76			18-Nov-2005		6.650%		CA - 80.00%		Paid Off - 360		01-Oct-2004
322560921 1			148,086.00		146,819.17			21-Nov-2005		8.300%		TX - 84.31%		Paid Off - 360		01-Nov-2004
322561002 1			136,800.00		135,137.64			29-Nov-2005		6.500%		OR - 80.00%		Paid Off - 360		01-Nov-2004
322561747 1			152,000.00		149,776.66			29-Nov-2005		5.500%		IL - 80.00%		Paid Off - 360		01-Nov-2004
322562877 2			346,500.00		342,361.34			18-Nov-2005		6.990%		CA - 90.00%		Paid Off - 360		01-Oct-2004
322563255 1			80,000.00		80,000.00			15-Dec-2005		7.750%		MO - 84.21%		Paid Off - 360		01-Nov-2004
322563305 1			256,000.00		255,997.27			14-Dec-2005		7.850%		TX - 80.00%		Paid Off - 360		01-Oct-2004
322563594 1			256,000.00		252,657.22			30-Nov-2005		6.900%		IL - 80.00%		Paid Off - 360		01-Sep-2004
322563602 2			47,400.00		47,062.16			18-Nov-2005		9.600%		MI - 94.80%		Paid Off - 360		01-Oct-2004
322563909 1			110,589.00		110,589.00			02-Dec-2005		7.750%		AZ - 80.00%		Paid Off - 360		01-Oct-2004
322564782 1			73,790.00		73,159.46			07-Dec-2005		8.350%		IL - 83.66%		Paid Off - 360		01-Nov-2004
322569955 2			75,000.00		74,351.98			30-Nov-2005		8.250%		NY - 15.79%		Paid Off - 360		01-Nov-2004
322570953 1			151,600.00		149,396.74			29-Nov-2005		5.950%		KY - 80.00%		Paid Off - 360		01-Oct-2004
322570961 1			37,900.00		37,676.67			29-Nov-2005		10.500%		KY - 20.00%		Paid Off - 180		01-Oct-2004
322571456 2			272,000.00		272,000.00			14-Dec-2005		5.990%		CA - 80.00%		Paid Off - 360		01-Oct-2004
322571472 1			150,000.00		147,989.30			30-Nov-2005		6.400%		CA - 68.18%		Paid Off - 360		01-Oct-2004
322571787 1			68,000.00		67,395.97			14-Dec-2005		8.500%		CA - 20.00%		Paid Off - 180		01-Oct-2004
322572371 2			100,320.00		99,017.06			14-Dec-2005		6.550%		MA - 80.00%		Paid Off - 360		01-Oct-2004
322573155 2			200,000.00		197,497.70			15-Dec-2005		6.990%		IL - 80.00%		Paid Off - 360		01-Nov-2004
322573585 1			219,500.00		219,421.94			22-Nov-2005		7.390%		IL - 84.42%		Paid Off - 360		01-Nov-2004
322574039 1			168,000.00		168,000.00			22-Nov-2005		6.740%		MN - 80.00%		Paid Off - 360		01-Nov-2004
322574047 1			42,000.00		41,802.78			22-Nov-2005		11.200%		MN - 20.00%		Paid Off - 180		01-Nov-2004
322574302 1			136,000.00		134,608.00			18-Nov-2005		7.390%		FL - 80.00%		Paid Off - 360		01-Nov-2004
322574310 1			34,000.00		33,843.47			18-Nov-2005		11.290%		FL - 20.00%		Paid Off - 180		01-Nov-2004
322574906 1			144,000.00		144,000.00			15-Dec-2005		6.650%		CO - 80.00%		Paid Off - 360		01-Nov-2004
322574914 1			36,000.00		35,823.42			15-Dec-2005		10.990%		CO - 20.00%		Paid Off - 180		01-Nov-2004
322575101 1			189,673.00		189,666.80			28-Nov-2005		6.750%		UT - 80.00%		Paid Off - 360		01-Nov-2004
322575432 1			22,012.00		11,878.59			15-Nov-2005		9.990%		TX - 20.00%		Paid Off - 180		01-Nov-2004
322578501 1			212,400.00		210,373.85			23-Nov-2005		7.750%		WI - 90.00%		Paid Off - 360		01-Nov-2004
322578774 1			84,000.00		83,516.34			30-Nov-2005		10.300%		AZ - 80.00%		Paid Off - 360		01-Nov-2004
322580119 1			135,200.00		135,200.00			21-Nov-2005		6.850%		CA - 80.00%		Paid Off - 360		01-Nov-2004


Page 22 of 30
Morgan Stanley Home Equity Loan Trust 2005-1

Mortgage Pass-Through Certificates

2005-1

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

322580853 1			155,550.00		153,866.49			15-Dec-2005		7.500%		MD - 82.74%		Paid Off - 360		01-Oct-2004

322581562 1			292,000.00		288,240.28			23-Nov-2005		6.850%		FL - 83.43%		Paid Off - 360		01-Oct-2004
322581646 2			121,600.00		120,005.35			13-Dec-2005		6.500%		PA - 80.00%		Paid Off - 360		01-Oct-2004
322581679 1			30,400.00		30,173.54			13-Dec-2005		10.800%		PA - 20.00%		Paid Off - 180		01-Oct-2004
322582123 2			148,750.00		147,133.53			09-Dec-2005		7.250%		CA - 85.00%		Paid Off - 360		15-Oct-2004
322587015 2			82,400.00		81,113.37			09-Dec-2005		5.880%		AZ - 80.00%		Paid Off - 360		01-Oct-2004
322587379 1			35,000.00		32,200.60			14-Dec-2005		8.275%		PA - 53.85%		Paid Off - 120		01-Oct-2004
322587874 1			144,000.00		142,009.42			14-Dec-2005		6.600%		MD - 80.00%		Paid Off - 360		01-Sep-2004
322587882 1			36,000.00		35,746.14			14-Dec-2005		9.990%		MD - 20.00%		Paid Off - 180		01-Sep-2004
322587965 2			233,000.00		230,086.51			08-Dec-2005		6.750%		NY - 58.25%		Paid Off - 360		15-Sep-2004
322588286 2			76,500.00		75,396.88			29-Nov-2005		5.990%		MD - 88.95%		Paid Off - 360		01-Oct-2004
322588849 1			188,800.00		188,792.40			30-Nov-2005		6.750%		VA - 80.00%		Paid Off - 360		01-Oct-2004
322588856 1			47,200.00		46,949.28			30-Nov-2005		10.990%		VA - 20.00%		Paid Off - 180		01-Oct-2004
322590373 2			247,000.00		246,597.65			02-Dec-2005		6.250%		CA - 88.21%		Paid Off - 360		01-Sep-2004
322590951 1			136,000.00		134,116.46			14-Dec-2005		6.590%		RI - 80.00%		Paid Off - 360		01-Sep-2004
322594268 1			62,400.00		61,656.32			16-Nov-2005		7.375%		OH - 80.00%		Paid Off - 360		01-Sep-2004
322594276 1			15,600.00		15,494.03			16-Nov-2005		10.500%		OH - 20.00%		Paid Off - 180		01-Aug-2004
322594821 1			247,000.00		243,681.33			07-Dec-2005		6.750%		CA - 95.00%		Paid Off - 360		01-Sep-2004
322595638 1			71,600.00		70,952.74			08-Dec-2005		9.500%		MO - 80.00%		Paid Off - 360		01-Sep-2004
322595646 1			17,900.00		17,813.56			08-Dec-2005		14.250%		MO - 20.00%		Paid Off - 180		01-Sep-2004
322595786 2			127,900.00		126,261.59			05-Dec-2005		7.000%		FL - 79.99%		Paid Off - 360		01-Sep-2004
322595950 1			77,600.00		76,629.40			16-Nov-2005		7.125%		LA - 80.00%		Paid Off - 360		01-Sep-2004
322595968 1			19,400.00		19,283.23			12-Dec-2005		10.750%		LA - 20.00%		Paid Off - 180		01-Sep-2004
322596271 1			76,500.00		75,316.53			22-Nov-2005		5.999%		NE - 76.50%		Paid Off - 360		01-Sep-2004
322596461 2			112,000.00		110,155.39			05-Dec-2005		5.750%		IL - 80.00%		Paid Off - 360		01-Sep-2004
322596693 2			349,900.00		344,361.60			30-Nov-2005		5.875%		FL - 100.00%		Paid Off - 360		01-Sep-2004
322858135 1			127,650.00		126,412.44			28-Nov-2005		7.250%		AZ - 80.00%		Paid Off - 360		01-Dec-2004
322858481 2			44,650.00		44,283.03			07-Dec-2005		8.500%		KS - 95.00%		Paid Off - 360		01-Nov-2004
322859448 2			83,200.00		82,480.92			30-Nov-2005		8.249%		AZ - 80.00%		Paid Off - 360		01-Nov-2004
322859729 1			232,000.00		232,000.00			01-Dec-2005		5.999%		CA - 80.00%		Paid Off - 360		01-Dec-2004
322859737 1			58,000.00		57,738.36			01-Dec-2005		10.990%		CA - 20.00%		Paid Off - 180		01-Dec-2004
322859745 1			41,000.00		40,771.64			22-Nov-2005		9.990%		AZ - 20.00%		Paid Off - 180		01-Dec-2004
322860354 2			47,250.00		46,855.23			08-Dec-2005		7.999%		OH - 90.00%		Paid Off - 360		01-Dec-2004
322861055 2			35,000.00		34,742.66			13-Dec-2005		8.875%		MO - 70.00%		Paid Off - 360		01-Dec-2004
322861352 1			20,400.00		20,297.85			14-Dec-2005		10.500%		VA - 20.00%		Paid Off - 180		01-Dec-2004
322861519 1			233,120.00		231,220.37			25-Nov-2005		8.125%		OR - 80.00%		Paid Off - 360		01-Dec-2004
322861535 1			81,600.00		80,967.46			14-Dec-2005		8.375%		VA - 80.00%		Paid Off - 360		01-Dec-2004
322861923 2			83,920.00		82,995.34			12-Dec-2005		6.750%		WA - 80.00%		Paid Off - 360		01-Dec-2004
322862350 1			10,400.00		10,321.35			16-Nov-2005		8.500%		TN - 20.00%		Paid Off - 180		01-Dec-2004
322862608 2			41,600.00		41,272.68			16-Nov-2005		8.875%		TN - 80.00%		Paid Off - 360		01-Dec-2004
322862681 1			143,720.00		142,633.57			25-Nov-2005		8.500%		WA - 80.00%		Paid Off - 360		01-Dec-2004
322862897 1			148,800.00		147,324.56			14-Dec-2005		7.125%		FL - 80.00%		Paid Off - 360		01-Dec-2004
322863135 1			105,600.00		104,474.56			06-Dec-2005		6.750%		AZ - 80.00%		Paid Off - 360		01-Dec-2004


Page 23 of 30
Morgan Stanley Home Equity Loan Trust 2005-1

Mortgage Pass-Through Certificates

2005-1

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

322863150 2			74,400.00		73,916.88			25-Nov-2005		9.249%		FL - 80.00%		Paid Off - 360		01-Dec-2004

322863481 2			304,000.00		303,791.82			13-Dec-2005		7.625%		FL - 83.98%		Paid Off - 360		01-Dec-2004
322863531 1			26,400.00		26,232.98			06-Dec-2005		9.375%		AZ - 20.00%		Paid Off - 180		01-Dec-2004


TOTAL			23,812,753.00		23,602,497.66



Page 24 of 30
Morgan Stanley Home Equity Loan Trust 2005-1

Mortgage Pass-Through Certificates

2005-1

December 27, 2005 Distribution
Realized Loss Report

COLLATERAL REALIZED LOSSES



											Group 2		Group 1		Total


Current




Number of Loans Liquidated										2		0		2
Collateral Principal Realized Loss/(Gain) Amount										83,807.52		0.00		83,807.52
Collateral Interest Realized Loss/(Gain) Amount										0.00		0.00		0.00
Net Liquidation Proceeds										140,064.67		0.00		140,064.67

Cumulative




Number of Loans Liquidated										8		6		14
Collateral Realized Loss/(Gain) Amount										172,205.50		192,968.36		365,173.86
Net Liquidation Proceeds										433,301.70		452,328.15		885,629.85










Page 25 of 30
Morgan Stanley Home Equity Loan Trust 2005-1

Mortgage Pass-Through Certificates

2005-1

December 27, 2005 Distribution


DEFAULT SPEEDS



											Group 2		Group 1		Total



MDR										0.07%		0.00%		0.03%
3 Months Avg MDR										0.04%		0.03%		0.04%
12 Months Avg MDR										0.02%		0.02%		0.02%
Avg MDR Since Cut-off										0.02%		0.02%		0.02%


CDR										0.81%		0.00%		0.41%
3 Months Avg CDR										0.49%		0.38%		0.44%
12 Months Avg CDR										0.18%		0.19%		0.19%
Avg CDR Since Cut-off										0.18%		0.19%		0.19%


SDA										2.70%		0.00%		1.36%
3 Months Avg SDA Approximation										1.75%		1.37%		1.56%
12 Months Avg SDA Approximation										0.92%		0.96%		0.94%
Avg SDA Since Cut-off Approximation										0.92%		0.96%		0.94%


Loss Severity Approximation for Current Period										37.44%		0.00%		37.44%
3 Months Avg Loss Severity Approximation										18.91%		9.94%		28.85%
12 Months Avg Loss Severity Approximation										9.08%		20.98%		22.71%
Avg Loss Severity Approximation Since Cut-off										9.08%		20.98%		22.71%












Page 26 of 30
Morgan Stanley Home Equity Loan Trust 2005-1

Mortgage Pass-Through Certificates

2005-1

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 27 of 30
Morgan Stanley Home Equity Loan Trust 2005-1

Mortgage Pass-Through Certificates

2005-1

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)

322556358 2
			7.700%		TX - 80.00%		360		143,764.00				38,306.71		0.00

322863168 2			8.250%		NE - 95.00%		360		80,108.19				45,500.81		0.00


TOTAL									223,872.19			83,807.52		0.00



Page 28 of 30
Morgan Stanley Home Equity Loan Trust 2005-1

Mortgage Pass-Through Certificates

2005-1

December 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								31,861,307.12
						Ending Balance								637,106,702.97
						Prior Period Senior Enhancement Percentage								25.4555%



ADJUSTABLE RATE CERTIFICATE INFORMATION

SPACE INTENTIONALLY LEFT BLANK



ADDITIONAL INFORMATION

										Group 2		Group 1		Total
Basis Risk CarryForward Amount paid														1,057.11
Basis Risk CarryForward Amount unpaid														0.00
Excess Reserve Fund Account Balance														0.00



Page 29 of 30
Morgan Stanley Home Equity Loan Trust 2005-1

Mortgage Pass-Through Certificates

2005-1

December 27, 2005 Distribution
Other Related Information
ADDITIONAL INFORMATION

										Group 2		Group 1		Total
Current Scheduled Payments										2,200,022.56		2,220,922.59		4,420,945.15
Current Scheduled Payments 1 Month Prior										2,322,101.87		2,322,523.44		4,644,625.31
Current Scheduled Payments 2 Month Prior										2,421,183.53		2,418,169.40		4,839,352.92
Current Scheduled Payments 3 Month Prior										2,534,161.76		2,550,113.40		5,084,275.17
Current Scheduled Payments 4 Month Prior										2,616,334.82		2,654,445.61		5,270,780.42
Current Scheduled Payments 5 Month Prior										2,717,857.52		2,745,838.67		5,463,696.19
Current Scheduled Payments 6 Month Prior										2,797,537.02		2,813,388.59		5,610,925.60
Current Scheduled Payments 7 Month Prior										2,865,723.19		2,877,306.88		5,743,030.07
Current Scheduled Payments 8 Month Prior										2,956,160.53		2,940,412.33		5,896,572.87
Current Scheduled Payments 9 Month Prior										3,006,355.10		2,981,915.28		5,988,270.38
Current Scheduled Payments 10 Month Prior										3,056,508.59		3,009,910.77		6,066,419.36
Current Scheduled Payments 11 Month Prior										0.00		0.00		0.00





Sched. Payments for 60+Day Delinquent Loans										162,212.73		145,171.94		307,384.67
Sched. Pmts - 60+Day Delinquent Loans, 1 Month Prior										151,537.26		128,659.46		280,196.72
Sched. Pmts - 60+Day Delinquent Loans, 2 Month Prior										128,422.50		114,184.10		242,606.60
Sched. Pmts - 60+Day Delinquent Loans, 3 Month Prior										103,924.67		96,276.23		200,200.90
Sched. Pmts - 60+Day Delinquent Loans, 4 Month Prior										95,801.12		81,534.77		177,335.89
Sched. Pmts - 60+Day Delinquent Loans, 5 Month Prior										76,852.50		67,296.69		144,149.20
Sched. Pmts - 60+Day Delinquent Loans, 6 Month Prior										68,693.70		57,029.49		125,723.19
Sched. Pmts - 60+Day Delinquent Loans, 7 Month Prior										61,871.21		43,155.77		105,026.98
Sched. Pmts - 60+Day Delinquent Loans, 8 Month Prior										37,065.80		23,723.46		60,789.26
Sched. Pmts - 60+Day Delinquent Loans, 9 Month Prior										19,115.08		19,088.24		38,203.32
Sched. Pmts - 60+Day Delinquent Loans, 10 Month Prior										3,729.06		1,769.77		5,498.83
Sched. Pmts - 60+Day Delinquent Loans, 11 Month Prior										0.00		0.00		0.00




Page 30 of 30

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