A surge in primary market originations propelled subprime mortgage securitization to new heights during the first nine months of 2003, a new Inside MBS &ABS analysis reveals. To say that market has been red hot in 2003 would be a significant understatement: the $138.7 billion in subprime securities issued through the end of September eclipsed 2002’s full-year total of $134.0 billion. The record-breaking