Deutsche Bank was the top indenture trustee for non-agency MBS issued in 2004, handling the work on some $189.4 billion of deals issued last year, according to a new Inside MBS & ABS ranking and market analysis. With a 21.9 percent share of the overall non-agency MBS market, Deutsche’s bread-and-butter business was in the non-prime sectors. The company was, by far, the most active trustee on subprime deals, winning assignments on $111.6 billion of these…