Q3 Non-Prime MBS Issuance Goes to Zero

Eye-opening factoid from Inside B&C Lending:

Non-Prime MBS Issuance Hits Record Low in Third Quarter of 2008: Zero
There was no issuance of subprime, Alt A or “other” non-prime mortgage backed securities in the third quarter of 2008, the first blank quarter since the creation of the non-prime MBS market, according to the Inside Mortgage Finance MBS Database.