8-K 1 msi05wm3_10506.txt UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington D. C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): June 27, 2005 MORGAN STANLEY CAPITAL I INC. Mortgage Pass-Through Certificates, Series 2005-WM3 Trust (Exact name of registrant as specified in its charter) New York (governing law of 333-113543-31 54-2173150 Pooling and Servicing Agreement) (Commission 54-2173151 (State or other File Number) 54-6658792 jurisdiction IRS EIN of Incorporation) c/o Wells Fargo Bank, N.A. 9062 Old Annapolis Road Columbia, MD 21045 (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code: (410) 884-2000 (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 under the Exchange Act (17 CFR 240.14a-12) [ ] 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 On June 27, 2005 a distribution was made to holders of MORGAN STANLEY CAPITAL I INC., Mortgage Pass-Through Certificates, Series 2005-WM3 Trust. ITEM 9.01 Financial Statements and Exhibits (c) Exhibits Exhibit Number Description EX-99.1 Monthly report distributed to holders of Mortgage Pass-Through Certificates, Series 2005-WM3 Trust, relating to the June 27, 2005 distribution. Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. MORGAN STANLEY CAPITAL I INC. Mortgage Pass-Through Certificates, Series 2005-WM3 Trust (Registrant) By: Wells Fargo Bank, N.A. as Trustee By: /s/ Beth Belfield as Officer By: Beth Belfield as Officer Date: 6/28/2005 INDEX TO EXHIBITS Exhibit Number Description EX-99.1 Monthly report distributed to holders of Mortgage Pass-Through Certificates, Series 2005-WM3 Trust, relating to the June 27, 2005 distribution. EX-99.1

Morgan Stanley ABS Capital I Inc Mortgage Pass-Through Certificates Record Date: 45/2931/2005 Distribution Date: 56/2527/2005 Morgan Stanley ABS Capital I Inc Mortgage Pass-Through Certificates Series 2005-WM3 Contact: Customer Service - CTSLink Wells Fargo Bank, N.A. Securities Administration Services 7485 New Horizon Way Frederick, MD 21703 www.ctslink.com Telephone: (301) 815-6600 Fax: (301) 815-6660 Certificateholder Distribution Summary Certificate Certificate Beginning Class Pass-Through Certificate Interest ~~Principal~~ Class CUSIP Description Rate Balance Distribution ~~Distribution~~ A1ss 61744CPT7 SEN 3.30000% ~~254~~248,~~332~~216,~~000~~073.00 ~~442~~750,~~961~~853.5762 ~~6,115,927.00~~ A1mz 61744CPV2 SEN 3.35000% 6362,~~583~~054,~~000~~018.0025 ~~112~~190,~~418~~557.2855 ~~1,528,981.75~~ A-2a 61744CPW0 SEN 3.18000% ~~291~~279,~~000~~002,~~000~~574.0035 ~~488~~813,~~395~~292.0050 ~~11,997,425.65~~ A-2b 61744CPU4 SEN 03.~~00000~~56400% 176,463,000.00 0.00 ~~0.00~~ M-1 61744CPX8 MEZ 3.50000% 33,053,000.00 61106,~~056~~045.2404 ~~0.00~~ M-2 61744CPY6 MEZ 3.53000% 30,093,000.00 5697,~~064~~375.93 ~~0.00~~ M-3 61744CPZ3 MEZ 3.56000% 18,747,000.00 3561,~~223~~177.5371 ~~0.00~~ M-4 61744CQA7 MEZ 3.71000% 17,266,000.00 3358,~~807~~718.79 ~~0.00~~ M-5 61744CQB5 MEZ 3.75000% 15,787,000.00 3154,~~245~~267.1081 ~~0.00~~ M-6 61744CQC3 MEZ 3.80000% 15,293,000.00 3053,~~670~~270.9662 ~~0.00~~ B-1 61744CQD1 SUB 4.29000% 12,827,000.00 2950,~~042~~442.4718 ~~0.00~~ B-2 61744CQE9 SUB 4.39000% 11,840,000.00 2747,~~432~~646.6213 ~~0.00~~ B-3 61744CQF6 SUB 4.79000% 11,346,000.00 2849,~~683~~818.3239 ~~0.00~~ X MSI05WM3C SEN 0.00000% 027,381,223.0058 32,~~586~~315,~~980~~192.8530 ~~0.00~~ P MSI05WM3P SEN 0.00000% 0.00 ~~256~~243,~~143~~793.5675 ~~0.00~~ Totals ~~951~~959,~~630~~368,~~000~~889.0018 54,~~220~~892,~~126~~452.~~22 19,642,334.40~~32

Certificateholder Distribution Summary (continued) Current Ending Cumulative Principal Realized Certificate Total Realized Class Distribution Loss Balance Distribution Losses A1ss 6,559,830.69 0.00 ~~248~~241,~~216~~656,~~073~~242.0031 67,~~558~~310,~~888~~684.5731 0.00 A1mz 1,639,957.67 0.00 6260,~~054~~414,~~018~~060.2558 1,~~641~~830,~~400~~515.0322 0.00 A-2a 13,928,678.77 0.00 ~~279~~265,~~002~~073,~~574~~895.3558 1214,~~485~~741,~~820~~971.6527 0.00 A-2b 0.00 0.00 176,463,000.00 0.00 0.00 M-1 0.00 0.00 33,053,000.00 61106,~~056~~045.2404 0.00 M-2 0.00 0.00 30,093,000.00 5697,~~064~~375.93 0.00 M-3 0.00 0.00 18,747,000.00 3561,~~223~~177.5371 0.00 M-4 0.00 0.00 17,266,000.00 3358,~~807~~718.79 0.00 M-5 0.00 0.00 15,787,000.00 3154,~~245~~267.1081 0.00 M-6 0.00 0.00 15,293,000.00 3053,~~670~~270.9662 0.00 B-1 0.00 0.00 12,827,000.00 2950,~~042~~442.4718 0.00 B-2 0.00 0.00 11,840,000.00 2747,~~432~~646.6213 0.00 B-3 0.00 0.00 11,346,000.00 2849,~~683~~818.3239 0.00 X 0.00 270.00 26,~~381~~826,~~223~~343.5897 32,~~586~~315,~~980~~192.8530 0.00 P 0.00 0.00 ~~256~~0.00 243,~~143~~793.5675 0.00 Totals 22,128,467.13 0.00 ~~959~~936,~~368~~685,~~889~~542.1844 2427,~~862~~020,~~460~~919.6245 0.00 All distributions required by the Pooling and Servicing Agreement have been calculated by the Certificate Administrator on behalf of the Trustee.

Principal Distribution Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Realized Class Amount Balance Distribution Distribution Accretion Loss (1) A1ss 254,332,000.00 ~~254~~248,~~332~~216,~~000~~073.00 0.00 6,~~115~~559,~~927~~830.0069 0.00 0.00 A1mz 63,583,000.00 6362,~~583~~054,~~000~~018.0025 0.00 1,~~528~~639,~~981~~957.7567 0.00 0.00 A-2a 291,000,000.00 ~~291~~279,~~000~~002,~~000~~574.0035 0.00 1113,~~997~~928,~~425~~678.6577 0.00 0.00 A-2b 176,463,000.00 176,463,000.00 0.00 0.00 0.00 0.00 M-1 33,053,000.00 33,053,000.00 0.00 0.00 0.00 0.00 M-2 30,093,000.00 30,093,000.00 0.00 0.00 0.00 0.00 M-3 18,747,000.00 18,747,000.00 0.00 0.00 0.00 0.00 M-4 17,266,000.00 17,266,000.00 0.00 0.00 0.00 0.00 M-5 15,787,000.00 15,787,000.00 0.00 0.00 0.00 0.00 M-6 15,293,000.00 15,293,000.00 0.00 0.00 0.00 0.00 B-1 12,827,000.00 12,827,000.00 0.00 0.00 0.00 0.00 B-2 11,840,000.00 11,840,000.00 0.00 0.00 0.00 0.00 B-3 11,346,000.00 11,346,000.00 0.00 0.00 0.00 0.00 X 0.00 027,381,223.0058 0.00 0.00 0.00 0.00 P 0.00 0.00 0.00 0.00 0.00 0.00 Totals 951,630,000.00 ~~951~~959,~~630~~368,~~000~~889.0018 0.00 1922,~~642~~128,~~334~~467.4013 0.00 0.00 (1) Amount Does Not Include Excess Special Hazard, Bankruptcy, or Fraud Losses Unless Otherwise Disclosed. Please Refer to the Prospectus Supplement for a Full Description.

Principal Distribution Statement (continued) Total Ending Ending Total Principal Certificate Certificate Principal Class Reduction Balance Percentage Distribution A1ss 6,~~115~~559,~~927~~830.0069 ~~248~~241,~~216~~656,~~073~~242.0031 0.~~97595298~~95016059 6,~~115~~559,~~927~~830.0069 A1mz 1,~~528~~639,~~981~~957.7567 6260,~~054~~414,~~018~~060.2558 0.~~97595298~~95016059 1,~~528~~639,~~981~~957.7567 A-2a 1113,~~997~~928,~~425~~678.6577 ~~279~~265,~~002~~073,~~574~~895.3558 0.~~95877173~~91090686 1113,~~997~~928,~~425~~678.6577 A-2b 0.00 176,463,000.00 1.00000000 0.00 M-1 0.00 33,053,000.00 1.00000000 0.00 M-2 0.00 30,093,000.00 1.00000000 0.00 M-3 0.00 18,747,000.00 1.00000000 0.00 M-4 0.00 17,266,000.00 1.00000000 0.00 M-5 0.00 15,787,000.00 1.00000000 0.00 M-6 0.00 15,293,000.00 1.00000000 0.00 B-1 0.00 12,827,000.00 1.00000000 0.00 B-2 0.00 11,840,000.00 1.00000000 0.00 B-3 0.00 11,346,000.00 1.00000000 0.00 X 0.00 2726,~~381~~826,~~223~~343.5897 0.00000000 0.00 P 0.00 0.00 0.00000000 0.00 Totals 1922,~~642~~128,~~334~~467.4013 ~~959~~936,~~368~~685,~~889~~542.1844 10.~~00813225~~98429594 1922,~~642~~128,~~334~~467.4013

Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion A1ss 254,332,000.00 ~~1000~~975.~~00000000~~95297878 0.00000000 2425.~~04702122~~79239219 0.00000000 A1mz 63,583,000.00 ~~1000~~975.~~00000000~~95297878 0.00000000 2425.~~04702122~~79239215 0.00000000 A-2a 291,000,000.00 ~~1000~~958.~~00000000~~77173316 0.00000000 4147.~~22826684~~86487550 0.00000000 A-2b 176,463,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-1 33,053,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-2 30,093,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-3 18,747,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-4 17,266,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-5 15,787,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-6 15,293,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 B-1 12,827,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 B-2 11,840,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 B-3 11,346,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 X 0.00 0.00000000 0.00000000 0.00000000 0.00000000 P 0.00 0.00000000 0.00000000 0.00000000 0.00000000

Principal Distribution Factors Statement (continued) Total Ending Ending Total Realized Principal Certificate Certificate Principal Class Loss (3) Reduction Balance Percentage Distribution A1ss 0.00000000 2425.~~04702122~~79239219 ~~975~~950.~~95297878~~16058660 0.~~97595298~~95016059 2425.~~04702122~~79239219 A1mz 0.00000000 2425.~~04702122~~79239215 ~~975~~950.~~95297878~~16058663 0.~~97595298~~95016059 2425.~~04702122~~79239215 A-2a 0.00000000 4147.~~22826684~~86487550 ~~958~~910.~~77173316~~90685766 0.~~95877173~~91090686 4147.~~22826684~~86487550 A-2b 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M-1 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M-2 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M-3 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M-4 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M-5 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M-6 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 B-1 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 B-2 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 B-3 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 X 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 P 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 (3) Amount Does Not Include Excess Special Hazard, Bankruptcy, or Fraud Losses Unless Otherwise Disclosed. Please Refer to the Prospectus Supplement for a Full Description.

Interest Distribution Statement Beginning Payment of Original Current Certificate/ Current Unpaid Current Face Certificate Notional Accrued Interest Interest Class Amount Rate Balance Interest Shortfall Shortfall A1ss 254,332,000.00 3.30000% ~~254~~248,~~332~~216,~~000~~073.00 ~~442~~750,~~961~~853.5762 0.00 0.00 A1mz 63,583,000.00 3.35000% 6362,~~583~~054,~~000~~018.0025 ~~112~~190,~~418~~557.2855 0.00 0.00 A-2a 291,000,000.00 3.18000% ~~291~~279,~~000~~002,~~000~~574.0035 ~~488~~813,~~395~~292.0050 0.00 0.00 A-2b 176,463,000.00 03.~~00000~~56400% 176,463,000.00 0524,095.0011 0.00 0.00 M-1 33,053,000.00 3.50000% 33,053,000.00 61106,~~056~~045.2404 0.00 0.00 M-2 30,093,000.00 3.53000% 30,093,000.00 5697,~~064~~375.93 0.00 0.00 M-3 18,747,000.00 3.56000% 18,747,000.00 3561,~~223~~177.5371 0.00 0.00 M-4 17,266,000.00 3.71000% 17,266,000.00 3358,~~807~~718.79 0.00 0.00 M-5 15,787,000.00 3.75000% 15,787,000.00 3154,~~245~~267.1081 0.00 0.00 M-6 15,293,000.00 3.80000% 15,293,000.00 3053,~~670~~270.9662 0.00 0.00 B-1 12,827,000.00 4.29000% 12,827,000.00 2950,~~042~~442.4718 0.00 0.00 B-2 11,840,000.00 4.39000% 11,840,000.00 2747,~~432~~646.6213 0.00 0.00 B-3 11,346,000.00 4.79000% 11,346,000.00 2849,~~683~~818.3239 0.00 0.00 X 0.00 0.00000% 1986,~~021~~750,~~673,229~~112.9676 0.00 0.00 0.00 P 0.00 0.00000% 0.00 0.00 0.00 0.00 Totals 951,630,000.00 12,~~377~~857,~~001~~561.8138 0.00 0.00

Interest Distribution Statement (continued) Remaining Ending Non-Supported Total Unpaid Certificate/ Interest Realized Interest Interest Notional Class Shortfall Losses (4) Distribution Shortfall Balance A1ss 0.00 0.00 ~~442~~750,~~961~~853.5762 0.00 ~~248~~241,~~216~~656,~~073~~242.0031 A1mz 0.00 0.00 ~~112~~190,~~418~~557.2855 0.00 6260,~~054~~414,~~018~~060.2558 A-2a 0.00 0.00 ~~488~~813,~~395~~292.0050 0.00 ~~279~~265,~~002~~073,~~574~~895.3558 A-2b 0.00 0.00 0.00 0.00 176,463,000.00 M-1 0.00 0.00 61106,~~056~~045.2404 0.00 33,053,000.00 M-2 0.00 0.00 5697,~~064~~375.93 0.00 30,093,000.00 M-3 0.00 0.00 3561,~~223~~177.5371 0.00 18,747,000.00 M-4 0.00 0.00 3358,~~807~~718.79 0.00 17,266,000.00 M-5 0.00 0.00 3154,~~245~~267.1081 0.00 15,787,000.00 M-6 0.00 0.00 3053,~~670~~270.9662 0.00 15,293,000.00 B-1 0.00 0.00 2950,~~042~~442.4718 0.00 12,827,000.00 B-2 0.00 0.00 2747,~~432~~646.6213 0.00 11,840,000.00 B-3 0.00 0.00 2849,~~683~~818.3239 0.00 11,346,000.00 X 0.00 0.00 32,~~586~~315,~~980~~192.8530 0.00 ~~986~~963,~~750~~511,~~112~~886.7641 P 0.00 0.00 ~~256~~243,~~143~~793.5675 0.00 0.00 Totals 0.00 0.00 54,~~220~~892,~~126~~452.2232 0.00 (4) Amount Does Not Include Excess Special Hazard, Bankruptcy, or Fraud Losses Unless Otherwise Disclosed. Please Refer to the Prospectus Supplement for a Full Description.

Interest Distribution Factors Statement Beginning Payment of Original Current Certificate/ Current Unpaid Current Face Certificate Notional Accrued Interest Interest Class (5) Amount Rate Balance Interest Shortfall Shortfall A1ss 254,332,000.00 3.30000% ~~1000~~975.~~00000000~~95297878 12.~~74166668~~95225776 0.00000000 0.00000000 A1mz 63,583,000.00 3.35000% ~~1000~~975.~~00000000~~95297878 12.~~76805561~~99698898 0.00000000 0.00000000 A-2a 291,000,000.00 3.18000% ~~1000~~958.~~00000000~~77173316 12.~~67833333~~79481959 0.00000000 0.00000000 A-2b 176,463,000.00 03.~~00000~~56400% 1000.00000000 02.~~00000000~~97000000 0.00000000 0.00000000 M-1 33,053,000.00 3.50000% 1000.00000000 13.~~84722234~~20833328 0.00000000 0.00000000 M-2 30,093,000.00 3.53000% 1000.00000000 13.~~86305553~~23583325 0.00000000 0.00000000 M-3 18,747,000.00 3.56000% 1000.00000000 13.~~87888889~~26333333 0.00000000 0.00000000 M-4 17,266,000.00 3.71000% 1000.00000000 13.~~95805572~~40083343 0.00000000 0.00000000 M-5 15,787,000.00 3.75000% 1000.00000000 13.~~97916640~~43749984 0.00000000 0.00000000 M-6 15,293,000.00 3.80000% 1000.00000000 23.~~00555548~~48333355 0.00000000 0.00000000 B-1 12,827,000.00 4.29000% 1000.00000000 23.~~26416699~~93250019 0.00000000 0.00000000 B-2 11,840,000.00 4.39000% 1000.00000000 24.~~31694426~~02416639 0.00000000 0.00000000 B-3 11,346,000.00 4.79000% 1000.00000000 24.~~52805570~~39083289 0.00000000 0.00000000 X 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 P 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 (5) Per $1 denomination.

Interest Distribution Factors Statement (continued) Remaining Ending Non-Supported Total Unpaid Certificate/ Interest Realized Interest Interest Notional Class Shortfall Losses (6) Distribution Shortfall Balance A1ss 0.00000000 0.00000000 12.~~74166668~~95225776 0.00000000 ~~975~~950.~~95297878~~16058660 A1mz 0.00000000 0.00000000 12.~~76805561~~99698898 0.00000000 ~~975~~950.~~95297878~~16058663 A-2a 0.00000000 0.00000000 12.~~67833333~~79481959 0.00000000 ~~958~~910.~~77173316~~90685766 A-2b 0.00000000 0.00000000 0.00000000 0.00000000 1000.00000000 M-1 0.00000000 0.00000000 13.~~84722234~~20833328 0.00000000 1000.00000000 M-2 0.00000000 0.00000000 13.~~86305553~~23583325 0.00000000 1000.00000000 M-3 0.00000000 0.00000000 13.~~87888889~~26333333 0.00000000 1000.00000000 M-4 0.00000000 0.00000000 13.~~95805572~~40083343 0.00000000 1000.00000000 M-5 0.00000000 0.00000000 13.~~97916640~~43749984 0.00000000 1000.00000000 M-6 0.00000000 0.00000000 23.~~00555548~~48333355 0.00000000 1000.00000000 B-1 0.00000000 0.00000000 23.~~26416699~~93250019 0.00000000 1000.00000000 B-2 0.00000000 0.00000000 24.~~31694426~~02416639 0.00000000 1000.00000000 B-3 0.00000000 0.00000000 24.~~52805570~~39083289 0.00000000 1000.00000000 X 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 P 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 (6) Amount Does Not Include Excess Special Hazard, Bankruptcy,or Fraud Losses Unless Otherwise Disclosed. Please Refer to the Prospectus Supplement for a Full Description.

CERTIFICATEHOLDER ACCOUNT STATEMENT CERTIFICATE ACCOUNT Beginning Balance 0.00 Deposits Payments of Interest and Principal 2527,~~278~~438,~~088~~567.3669 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 0.00 Realized Loss (Gains, Subsequent Expenses & Recoveries) 0.00 Prepayment Penalties 0.00 Total Deposits 2527,~~278~~438,~~088~~567.3669 Withdrawals Reimbursement for Servicer Advances 0.00 Payment of Service Fee ~~415~~417,~~627~~648.7424 Payment of Interest and Principal 2427,~~862~~020,~~460~~919.6245 Total Withdrawals (Pool Distribution Amount) 2527,~~278~~438,~~088~~567.3669 Ending Balance 0.00

SERVICING FEES Gross Servicing Fee ~~411~~402,~~105~~922.0041 AMBAC Fee 10,293.68 Trustee Fee 4,~~522~~432.7415 Supported Prepayment/Curtailment Interest Shortfall 0.00 Net Servicing Fee ~~415~~417,~~627~~648.7424

OTHER ACCOUNTS Beginning Current Current Ending Account Type Balance Withdrawals Deposits Balance Financial Guaranty 0.00 0.00 0.00 0.00 Reserve Fund ~~0.00 0.00~~ 316,775.59 316,775.59 524,095.11 524,095.11 Reserve Fund 0.00 0.00 0.00 0.00

LOAN STATUS STRATIFICATION/CREDIT ENHANCEMENT STATEMENT ~~DELINQUENCY STATUS~~ DELINQUENT BANKRUPTCY FORECLOSURE REO Total No of Loans No of Loans No of Loans No of Loans No of Loans Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance 0-29 Days 0 0 0 0 0.00 0.00 0.00 0.00 30 Days 2691 0 0 0 2691 417,~~050~~349,~~441~~578.0055 0.00 0.00 0.00 417,~~050~~349,~~441~~578.0055 60 Days 043 0 0 0 043 07,523,053.0059 0.00 0.00 0.00 07,523,053.0059 90 Days 04 0 0 0 04 0370,274.0035 0.00 0.00 0.00 0370,274.0035 120 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 150 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 180+ Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 Totals 26138 0 0 0 26138 425,~~050~~242,~~441~~906.0049 0.00 0.00 0.00 425,~~050~~242,~~441~~906.0049 No of Loans No of Loans No of Loans No of Loans No of Loans Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 01.~~503096~~794164% 0.000000% 0.000000% 0.000000% 01.~~503096~~794164% 01.~~418345~~835032% 0.000000% 0.000000% 0.000000% 01.~~418345~~835032% 60 Days 0.~~000000~~847792% 0.000000% 0.000000% 0.000000% 0.~~000000~~847792% 0.~~000000~~795699% 0.000000% 0.000000% 0.000000% 0.~~000000~~795699% 90 Days 0.~~000000~~078864% 0.000000% 0.000000% 0.000000% 0.~~000000~~078864% 0.~~000000~~039163% 0.000000% 0.000000% 0.000000% 0.~~000000~~039163% 120 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% Totals 02.~~503096~~720820% 0.000000% 0.000000% 0.000000% 02.~~503096~~720820% 02.~~418345~~669895% 0.000000% 0.000000% 0.000000% 02.~~418345~~669895%

Delinquency Status By Groups

~~Delinquency Status By Groups~~ DELINQUENT BANKRUPTCY FORECLOSURE REO Total 1(A) No of Loans No of Loans No of Loans No of Loans No of Loans Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance 0-29 Days 0 0 0 0 0.00 0.00 0.00 0.00 30 Days 018 0 0 0 018 03,631,085.0078 0.00 0.00 0.00 03,631,085.0078 60 Days 04 0 0 0 04 0688,275.0065 0.00 0.00 0.00 0688,275.0065 90 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 120 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 150 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 180+ Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 Totals 022 0 0 0 022 04,319,361.0043 0.00 0.00 0.00 04,319,361.0043 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 01.~~000000~~171113% 0.000000% 0.000000% 0.000000% 01.~~000000~~171113% 01.~~000000~~203280% 0.000000% 0.000000% 0.000000% 01.~~000000~~203280% 60 Days 0.~~000000~~260247% 0.000000% 0.000000% 0.000000% 0.~~000000~~260247% 0.~~000000~~228083% 0.000000% 0.000000% 0.000000% 0.~~000000~~228083% 90 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% Totals 01.~~000000~~431360% 0.000000% 0.000000% 0.000000% 01.~~000000~~431360% 01.~~000000~~431363% 0.000000% 0.000000% 0.000000% 01.~~000000~~431363% DELINQUENT BANKRUPTCY FORECLOSURE REO Total 1(B) No of Loans No of Loans No of Loans No of Loans No of Loans Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance 0-29 Days 0 0 0 0 0.00 0.00 0.00 0.00 30 Days 113 0 0 0 113 63987,~~574~~584.0071 0.00 0.00 0.00 63987,~~574~~584.0071 60 Days 07 0 0 0 07 0390,226.0027 0.00 0.00 0.00 0390,226.0027 90 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 120 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 150 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 180+ Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 Totals 120 0 0 0 120 631,~~574~~377,810.0098 0.00 0.00 0.00 631,~~574~~377,810.0098 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 01.~~086957~~145374% 0.000000% 0.000000% 0.000000% 01.~~086957~~145374% 01.~~076543~~204145% 0.000000% 0.000000% 0.000000% 01.~~076543~~204145% 60 Days 0.~~000000~~616740% 0.000000% 0.000000% 0.000000% 0.~~000000~~616740% 0.~~000000~~475796% 0.000000% 0.000000% 0.000000% 0.~~000000~~475796% 90 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% Totals 01.~~086957~~762115% 0.000000% 0.000000% 0.000000% 01.~~086957~~762115% 01.~~076543~~679942% 0.000000% 0.000000% 0.000000% 01.~~076543~~679942% DELINQUENT BANKRUPTCY FORECLOSURE REO Total 2(A) No of Loans No of Loans No of Loans No of Loans No of Loans Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance 0-29 Days 0 0 0 0 0.00 0.00 0.00 0.00 30 Days 1738 0 0 0 1738 311,~~239~~060,~~798~~181.0077 0.00 0.00 0.00 311,~~239~~060,~~798~~181.0077 60 Days 021 0 0 0 021 05,368,457.0076 0.00 0.00 0.00 05,368,457.0076 90 Days 03 0 0 0 03 0333,060.0085 0.00 0.00 0.00 0333,060.0085 120 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 150 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 180+ Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 Totals 1762 0 0 0 1762 316,~~239~~761,~~798~~700.0038 0.00 0.00 0.00 316,~~239~~761,~~798~~700.0038 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 12.~~119157~~557201% 0.000000% 0.000000% 0.000000% 12.~~119157~~557201% 02.~~696183~~439906% 0.000000% 0.000000% 0.000000% 02.~~696183~~439906% 60 Days 01.~~000000~~413190% 0.000000% 0.000000% 0.000000% 01.~~000000~~413190% 01.~~000000~~184296% 0.000000% 0.000000% 0.000000% 01.~~000000~~184296% 90 Days 0.~~000000~~201884% 0.000000% 0.000000% 0.000000% 0.~~000000~~201884% 0.~~000000~~073474% 0.000000% 0.000000% 0.000000% 0.~~000000~~073474% 120 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% Totals 14.~~119157~~172275% 0.000000% 0.000000% 0.000000% 14.~~119157~~172275% 03.~~696183~~697676% 0.000000% 0.000000% 0.000000% 03.~~696183~~697676% DELINQUENT BANKRUPTCY FORECLOSURE REO Total 2(B) No of Loans No of Loans No of Loans No of Loans No of Loans Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance 0-29 Days 0 0 0 0 0.00 0.00 0.00 0.00 30 Days 822 0 0 0 822 ~~747~~1,~~069~~670,726.0029 0.00 0.00 0.00 ~~747~~1,~~069~~670,726.0029 60 Days 011 0 0 0 011 01,076,093.0091 0.00 0.00 0.00 01,076,093.0091 90 Days 01 0 0 0 01 037,213.0050 0.00 0.00 0.00 037,213.0050 120 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 150 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 180+ Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 Totals 834 0 0 0 834 ~~747~~2,~~069~~784,033.0070 0.00 0.00 0.00 ~~747~~2,~~069~~784,033.0070 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 02.~~857449~~407002% 0.000000% 0.000000% 0.000000% 02.~~857449~~407002% 01.~~675505~~541548% 0.000000% 0.000000% 0.000000% 01.~~675505~~541548% 60 Days 01.~~000000~~203501% 0.000000% 0.000000% 0.000000% 01.~~000000~~203501% 0.~~000000~~992892% 0.000000% 0.000000% 0.000000% 0.~~000000~~992892% 90 Days 0.~~000000~~109409% 0.000000% 0.000000% 0.000000% 0.~~000000~~109409% 0.~~000000~~034336% 0.000000% 0.000000% 0.000000% 0.~~000000~~034336% 120 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 150 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 180+ Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% Totals 03.~~857449~~719912% 0.000000% 0.000000% 0.000000% 03.~~857449~~719912% 02.~~675505~~568776% 0.000000% 0.000000% 0.000000% 02.~~675505~~568776%

COLLATERAL STATEMENT Collateral Description Mixed Fixed Weighted Average Gross Coupon 6.~~939730~~937317% Weighted Average Net Coupon 6.~~439730~~437317% Weighted Average Pass-Through Rate 6.~~434230~~431817% Weighted Average Maturity(Stepdown Calculation ) ~~337~~336 Beginning Scheduled Collateral Loan Count 5,~~243~~168 Number Of Loans Paid In Full 7596 Ending Scheduled Collateral Loan Count 5,~~168~~072 Beginning Scheduled Collateral Balance ~~986~~967,~~651~~013,~~614~~797.9893 Ending Scheduled Collateral Balance ~~967~~944,~~013~~885,~~797~~330.9380 Ending Actual Collateral Balance at 2931-~~Apr~~May-2005 ~~968~~945,~~205~~464,~~119~~411.0010 Monthly P &I Constant 6,~~322~~196,~~680~~177.9857 Special Servicing Fee 0.00 Prepayment Penalties 0.00 Realized Loss Amount 0.00 Cumulative Realized Loss 0.00 Scheduled Principal ~~616~~605,~~767~~776.6317 Unscheduled Principal 1921,~~021~~522,~~049~~690.4296 Required Overcollateralization Amount 0.00 Overcollateralized Increase Amount 0.00 Overcollateralized reduction Amount ~~765~~0.5100 Specified O/C Amount 35,026,132.33 Overcollateralized Amount 2726,~~381~~826,~~223~~343.5897 Overcollateralized Deficiency Amount 78,~~644~~199,~~908~~788.7536 Base Overcollateralized Amount 0.00 Extra principal distribution Amount 0.00 Excess Cash Amount 32,~~586~~315,~~215~~192.3430

Miscellaneous Reporting Class A-2b Interest Rate 3.~~23125~~24000% Class A-2b Interest Amount ~~316~~524,~~775~~095.5911 Class A-2b Principal Amount 0.00 Credit Enhancement Percentage 0.~~208139~~213019% Delinquency Percentage 0.~~004175~~006303% Excess Cash Amount 32,~~586~~315,~~215~~192.3430 Overcollateralization Amount 3526,~~026~~826,~~132~~343.3397 Overcollateralization Deficiency Amount 78,~~644~~199,~~908~~788.7536 Overcollateralization Reduction Amount ~~765~~0.5100 Specified Overcollateralization Amount 35,026,132.33 Stepdown occurred NO Trigger Event occurred NO

Group Level Collateral Statement Group 1(A) 1(B) 2(A) Collateral Description Mixed Fixed Mixed Fixed Mixed Fixed Weighted Average Coupon Rate 6.~~553930~~541381 8.~~351658~~349541 6.~~573442~~570639 Weighted Average Net Rate 6.~~053929~~041381 7.~~851658~~849541 6.~~073442~~070639 Weighted Average Maturity ~~356~~355 ~~271~~270 ~~356~~355 Beginning Loan Count 1,~~598~~566 1,~~156~~150 1,~~546~~519 Loans Paid In Full 3229 615 2733 Ending Loan Count 1,~~566~~537 1,~~150~~135 1,~~519~~486 Beginning Scheduled Balance ~~316~~308,~~118~~813,~~711~~949.8745 8382,~~270~~931,~~489~~592.3566 ~~475~~464,~~568~~826,~~994~~820.1692 Ending ~~scheduled~~Scheduled Balance ~~308~~301,~~813~~588,~~949~~312.4550 8281,~~931~~957,~~592~~441.6625 ~~464~~453,~~826~~029,~~820~~756.9243 Record Date 0405/2931/2005 0405/2931/2005 0405/2931/2005 Principal And Interest Constant 1,~~925~~877,~~182~~580.0613 ~~645~~642,~~239~~987.9909 2,~~878~~811,~~545~~937.9517 Scheduled Principal ~~198~~194,~~665~~188.6081 65,~~701~~953.1017 ~~273~~266,~~441~~762.7583 Unscheduled Principal 7,~~106~~031,~~096~~448.8214 ~~273~~908,~~195~~198.5924 1011,~~468~~530,~~731~~301.4966 Scheduled Interest 1,~~726~~683,~~516~~391.4632 ~~579~~577,~~538~~033.8992 2,~~605~~545,~~104~~174.2034 Servicing Fees ~~131~~128,~~716~~672.1348 34,~~696~~554.0483 ~~198~~193,~~153~~677.7584 Master Servicing Fees 0.00 0.00 0.00 Trustee Fee 1,~~448~~415.8840 ~~381~~380.6610 2,~~179~~130.6946 FRY Amount 0.00 0.00 0.00 Special Hazard Fee 0.00 0.00 0.00 Other Fee 0.00 0.00 0.00 Pool Insurance Fee 0.00 0.00 0.00 Spread ~~Fee~~ 1 0.00 0.00 0.00 Spread ~~Fee~~ 2 0.00 0.00 0.00 Spread ~~Fee~~ 3 0.00 0.00 0.00 Net Interest 1,~~593~~553,~~351~~303.4544 ~~544~~542,~~461~~098.1999 2,~~404~~349,~~770~~366.7604 Realized Loss Amount 0.00 0.00 0.00 Cumulative Realized Loss 0.00 0.00 0.00 Percentage of Cumulative Losses 0.0000 0.0000 0.0000 Prepayment Penalties 0.00 0.00 0.00 Special Servicing Fee 0.00 0.00 0.00 Pass-Through Rate 6.~~048429~~035881 7.~~846158~~844041 6.~~067942~~065139

Group Level Collateral Statement Group 2(B) Total Collateral Description Mixed Fixed Mixed Fixed Weighted Average Coupon Rate 8.~~538592~~527254 6.~~939730~~937317 Weighted Average Net Rate 8.~~038592~~027254 6.~~439730~~437317 Weighted Average Maturity ~~254~~253 ~~337~~336 Beginning Loan Count ~~943~~933 5,~~243~~168 Loans Paid In Full 1019 7596 Ending Loan Count ~~933~~914 5,~~168~~072 Beginning Scheduled Balance ~~111~~110,~~693~~441,~~419~~434.6090 ~~986~~967,~~651~~013,~~614~~797.9893 Ending scheduled Balance ~~110~~108,~~441~~309,~~434~~820.9062 ~~967~~944,~~013~~885,~~797~~330.9380 Record Date 0405/2931/2005 0405/2931/2005 Principal And Interest Constant ~~873~~863,~~712~~673.9818 6,~~322~~196,~~680~~177.9857 Scheduled Principal 78,~~959~~871.1836 ~~616~~605,~~767~~776.6317 Unscheduled Principal 12,~~173~~052,~~025~~742.5292 1921,~~021~~522,~~049~~690.4296 Scheduled Interest ~~794~~784,~~753~~801.8082 5,~~705~~590,~~913~~401.3540 Servicing Fees 46,~~538~~017.9226 ~~411~~402,~~104~~922.8441 Master Servicing Fees 0.00 0.00 Trustee Fee ~~511~~506.9319 4,~~522~~432.1615 FRY Amount 0.00 0.00 Special Hazard Fee 0.00 0.00 Other Fee 0.00 0.00 Pool Insurance Fee 0.00 0.00 Spread ~~Fee~~ 1 0.00 0.00 Spread ~~Fee~~ 2 0.00 0.00 Spread ~~Fee~~ 3 0.00 0.00 Net Interest ~~747~~738,~~702~~278.9537 5,~~290~~183,~~286~~046.3584 Realized Loss Amount 0.00 0.00 Cumulative Realized Loss 0.00 0.00 Percentage of Cumulative Losses 0.0000 0.0000 Prepayment Penalties 0.00 0.00 Special Servicing Fee 0.00 0.00 Pass-Through Rate 8.~~033092~~021754 6.~~434230~~431817

Filing Compare · Morgan Stanley ABS Capital I Inc. Trust 2005-WMC3