The private-label mortgage-backed securities market, which posted its best year ever in 2001 with just under $160 billion in issuance, is likely to see a noticeable falloff in business this year, Moody’s Investors Service predicts. The rating service is forecasting a 10 percent to 20 percent drop-off in new private-label MBS issuance in 2002 as the refi wave that lifted the market