| Chart 2: Nonagency MBS Issuance Surpassed Agency MBS Issuance for the First Time in 2005 ($ in billions) | ||
| Year | Nonagency MBS | Agency MBS |
|---|---|---|
| 1985 | 1.956 |
108.458 |
| 1986 | 6.993 |
262.197 |
| 1987 | 11.1 |
232.137 |
| 1988 | 15.42 |
160.948 |
| 1989 | 14.238 |
200.349 |
| 1990 | 24.431 |
234.854 |
| 1991 | 49.349 |
268.012 |
| 1992 | 89.466 |
455.163 |
| 1993 | 98.493 |
568.152 |
| 1994 | 63.182 |
358.917 |
| 1995 | 48.926 |
269.096 |
| 1996 | 69.893 |
370.433 |
| 1997 | 119.132 |
367.7 |
| 1998 | 203.211 |
726.024 |
| 1999 | 147.899 |
685.13 |
| 2000 | 135.959 |
479.08 |
| 2001 | 347.32 |
1087.645 |
| 2002 | 413.955 |
1442.57 |
| 2003 | 586.216 |
2130.917 |
| 2004 | 864.152 |
1018.684 |
| 2005 | 1191.263 |
966.321 |
|
Note: Morgtaged-backed securites (MBS) are backed by one- to four-family mortgage loans. Nonagency MBS include private-label jumbo and Alternative A transactions, plus mortgage-related ABS, including subprime, second liens, home equity lines of credit, high loan-to-value loans, scratch-and-dent, and resecuritizations.
Source: GNMA, FHLMC, FNMA, Inside MBS&ABS |