The prime non-agency MBS market finished off a record year in 2004 with its highest quarterly production level ever – $118.29 billion – in the final three months of the year, according to a newInside MBS & ABS analysis and ranking. Formerly known as the “private label MBS” market, the prime non-agency sector includes the booming Alternative A business and the traditional jumbo securitization programs – although a number of deals increasingly fall somewhere in…