New MBS and ABS issuance was up sharply in the first quarter of 2012, building on the momentum of a strong finish last year and heavy mortgage refinance activity. According to a new Inside MBS & ABS analysis, a total of $430.0 billion of residential MBS and non-mortgage ABS were issued during the first quarter, up 17.8 percent from the final three months of 2011 and 13.4 percent higher than in first quarter of last year. It was the market’s highest three-month volume since the fourth quarter of 2010, another period of heavy mortgage refinance volume. Residential...(Includes two data charts)