Buoyed by banner originations in the primary market, the subprime MBS business produced a record $86.6 billion in new securities during the first half of 2003, a new analysis by Inside MBS & ABS reveals. Year-to-date subprime mortgage securitization was up 46.4 percent over the same period in 2002 and was the biggest six-month volume ever recorded. Issuance was particularly brisk in the second quarter,