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) July 25, 2005

                       Morgan Stanley ABS Capital I Inc.
--------------------------------------------------------------------------------
             (Exact name of registrant as specified in its charter)

        Delaware                    333-113543                  13-3939229
----------------------------   ------------------------     -------------------
(State or Other Jurisdiction   (Commission File Number)      (I.R.S. Employer
    of Incorporation)                                       Identification No.)

                  1585 Broadway
                New York, New York                               10036
     ----------------------------------------                  ----------
     (Address of Principal Executive Offices)                  (Zip Code)

        Registrant's telephone number, including area code (212) 761-4000
                                                           --------------

                                    No Change
--------------------------------------------------------------------------------
          (Former name or former address, if changed since last report)

--------------------------------------------------------------------------------

<PAGE>

      Item  8.01. Other Events

      In  connection  with  the  offering  of IXIS  Real  Estate  Capital  Trust
2005-HE3,   Mortgage  Pass-through   certificates,   Series  2005-HE3,   certain
"Computational  Materials",  dated July 28, 2005, within the meanings of the May
20, 1994  Kidder,  Peabody  No-Action  Letter and the  February  17, 1995 Public
Securities  Association  No-Action Letter were furnished to certain  prospective
investors (the "Related Computational Materials").

      Item  9.01. Financial Statements and Exhibits

      (a)   Not applicable

      (b)   Not applicable

      (c)   Exhibit 99.1.  Related  Computational  Materials (as defined in Item
            8.01 above)

      (d)   Exhibit 99.2.  Related  Computational  Materials (as defined in Item
            8.01 above)

      (e)   Exhibit 99.3.  Related  Computational  Materials (as defined in Item
            8.01 above)

      (f)   Exhibit 99.4.  Related  Computational  Materials (as defined in Item
            8.01 above)

      (g)   Exhibit 99.5.  Related  Computational  Materials (as defined in Item
            8.01 above)

      (h)   Exhibit 99.6.  Related  Computational  Materials (as defined in Item
            8.01 above)

<PAGE>

                                   SIGNATURES

      Pursuant  to the  requirements  of Section  13 or 15(d) of the  Securities
Exchange Act of 1934, the registrant has duly caused this Report to be signed on
its behalf by the undersigned thereunto duly authorized.

                                       MORGAN STANLEY ABS CAPITAL I INC.
                                       -----------------------------------------
                                             as Depositor and on behalf of IXIS
                                             Real Estate Capital Trust 2005-HE3
                                             Registrant

                                                   By: /s/ Gail McDonnell
                                                       -------------------------
                                                       Name:     Gail McDonnell
                                                       Title:    Vice President

Dated:  July 29, 2005

<PAGE>

           EXHIBIT INDEX

Exhibit No.     Description
-----------     -----------
99.1            Related Computational Materials (as defined in Item 8.01 above).
99.2            Related Computational Materials (as defined in Item 8.01 above).
99.3            Related Computational Materials (as defined in Item 8.01 above).
99.4            Related Computational Materials (as defined in Item 8.01 above).
99.5            Related Computational Materials (as defined in Item 8.01 above).
99.6            Related Computational Materials (as defined in Item 8.01 above).
{"company-data": {"conformed-name": "MORGAN STANLEY ABS CAPITAL I INC", "cik": "0001030442", "assigned-sic": "6189", "irs-number": "133939229", "state-of-incorporation": "DE", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "333-64909", "film-number": "05984217"}, "business-address": {"street1": "1585 BROADWAY 2ND FL", "city": "NEW YORK", "state": "NY", "zip": "10036", "phone": "2127614000"}, "mail-address": {"street1": "1585 BROADWAY", "street2": "2ND FLOOR", "city": "NEW YORK", "state": "NY", "zip": "10036"}}
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) July 25, 2005

                       Morgan Stanley ABS Capital I Inc.
--------------------------------------------------------------------------------
             (Exact name of registrant as specified in its charter)

        Delaware                    333-113543                  13-3939229
----------------------------   ------------------------     -------------------
(State or Other Jurisdiction   (Commission File Number)      (I.R.S. Employer
    of Incorporation)                                       Identification No.)

                  1585 Broadway
                New York, New York                               10036
     ----------------------------------------                  ----------
     (Address of Principal Executive Offices)                  (Zip Code)

        Registrant's telephone number, including area code (212) 761-4000
                                                           --------------

                                    No Change
--------------------------------------------------------------------------------
          (Former name or former address, if changed since last report)

--------------------------------------------------------------------------------
Item  8.01. Other Events

      In  connection  with  the  offering  of IXIS  Real  Estate  Capital  Trust
2005-HE3,   Mortgage  Pass-through   certificates,   Series  2005-HE3,   certain
"Computational  Materials",  dated July 28, 2005, within the meanings of the May
20, 1994  Kidder,  Peabody  No-Action  Letter and the  February  17, 1995 Public
Securities  Association  No-Action Letter were furnished to certain  prospective
investors (the "Related Computational Materials").

      Item  9.01. Financial Statements and Exhibits

      (a)   Not applicable

      (b)   Not applicable

      (c)   Exhibit 99.1.  Related  Computational  Materials (as defined in Item
            8.01 above)

      (d)   Exhibit 99.2.  Related  Computational  Materials (as defined in Item
            8.01 above)

      (e)   Exhibit 99.3.  Related  Computational  Materials (as defined in Item
            8.01 above)

      (f)   Exhibit 99.4.  Related  Computational  Materials (as defined in Item
            8.01 above)

      (g)   Exhibit 99.5.  Related  Computational  Materials (as defined in Item
            8.01 above)

      (h)   Exhibit 99.6.  Related  Computational  Materials (as defined in Item
            8.01 above)
SIGNATURES

      Pursuant  to the  requirements  of Section  13 or 15(d) of the  Securities
Exchange Act of 1934, the registrant has duly caused this Report to be signed on
its behalf by the undersigned thereunto duly authorized.

                                       MORGAN STANLEY ABS CAPITAL I INC.
                                       -----------------------------------------
                                             as Depositor and on behalf of IXIS
                                             Real Estate Capital Trust 2005-HE3
                                             Registrant

                                                   By: /s/ Gail McDonnell
                                                       -------------------------
                                                       Name:     Gail McDonnell
                                                       Title:    Vice President

Dated:  July 29, 2005
EXHIBIT INDEX

Exhibit No.     Description
-----------     -----------
99.1            Related Computational Materials (as defined in Item 8.01 above).
99.2            Related Computational Materials (as defined in Item 8.01 above).
99.3            Related Computational Materials (as defined in Item 8.01 above).
99.4            Related Computational Materials (as defined in Item 8.01 above).
99.5            Related Computational Materials (as defined in Item 8.01 above).
99.6            Related Computational Materials (as defined in Item 8.01 above).