The subprime market may not be so Teflon after all. After months of shaking off the doldrums that have dried up volume in the overall mortgage market, many subprime lenders saw their production trend downward in the early part of 2005. Inside B&C Lending estimates that subprime lenders originated $135.69 billion in new loans during the first quarter of 2005. That marked a healthy 31.7 percent upswing from the $103.00 billion in loans generated…