The non-agency MBS market in early 2006 is running ahead of the pace set last year, thanks to continuing strength in subprime and Alt A deals plus a surge in second mortgage securitization. A total of $285.13 billion of non-agency MBS were issued during the first quarter of 2006, according to a new ranking and analysis based on the Inside Mortgage Finance MBS Database. The first quarter issuance was up a solid 17.7 percent from… {Three data tables included]