Home-Equity Securities Issuance Soars to Record $106 Billion in 2nd Quarter
July 23, 2004
Fed by a seemingly inexhaustible supply of subprime mortgage loans, issuance of so-called home-equity securities rocketed to a record $106.43 billion in the second quarter of this year, a new Inside MBS & ABS analysis reveals. In fact, it was the third consecutive record quarterly volume in HEL securities production, soaring 21.8 percent above the $87.37 billion issued during the first three months of