Record Monthly Subprime Mortgage Securitization Lifts Non-Agency MBS Issuance in February
February 27, 2004
A pair of king-sized subprime deals fueled a huge increase in non-agency mortgage securitizations in February, as some $56.5 billion of new issuance found its way to market last month. February’s overall non-agency MBS volume was the strongest the market has seen since November of last year, in a month that usually doesn’t produce such big numbers. The key to the surge – total