The volume of prime non-agency mortgage-backed securities issued in the first quarter of 2016 reveals little about how the market is functioning, according to a new analysis and ranking by Inside Nonconforming Markets. Some $2.92 billion in prime non-agency MBS was issued in the first quarter of 2016, a 61.3 percent increase from the previous quarter but a 36.4 percent decline compared with the first quarter of 2015. Only four prime ... [Includes one data chart]