The non-agency MBS market continued its amazing record run during the third quarter of 2004, with new issuance topping the $250 billion mark for the first time, according to a new Inside MBS & ABS ranking and analysis. Production of non-agency mortgage securities – including subprime, prime jumbo, Alt A and an assortment of other species of mortgage collateral – has set new quarterly volume records in eight of the last nine quarters. The…