Subprime Mortgage Securitization Issuance Hits New Heights in 2002
March 28, 2003
Investment banks and large conduits dominated the subprime securitization market in 2002 as total issuance soared to new heights. Overall, some $134.04 billion in new securities backed by subprime mortgages were issued in 2002, a 40.2 percent rise over 2001’s $95.58 billion in volume. The record-breaking performance was driven by a surge of issuance in the second half of the year: in the third and fourth