The non-agency MBS market grew to a record $1.191 in annual issuance during 2005, hitting all-time highs on three of its major cylinders: jumbo, subprime and Alternative A securitization. According to an exclusive new market analysis by Inside MBS & ABS, total issuance of non-agency MBS increased by 37.9 percent from 2004 to 2005. Significantly, total mortgage originations in the primary market were relatively flat last year, at about $3 trillion, indicating that the non-agency…