Mortgage Securitization Pace Slows Markedly in 2004; Non-Agency MBS Sector Gains Stature
April 9, 2004
The mortgage-securitization market cooled significantly in early 2004, as a slowdown in new loan production that began last fall brought MBS volume sharply back to earth. An estimated total of $396.7 billion of mortgage-pass-through securities were issued during the first three months of 2004, down 28 percent from the fourth quarter of last year, a new Inside MBS & ABS analysis reveals. The