The non-agency MBS market summoned a small rebound in production levels in 2009, but issuance continued to be dominated by re-securitization of older mortgage securities. A total of $60.35 billion of non-agency MBS were issued last year, a gain of 3.3 percent over 2008’s record low in production volume. Although new issuance increased 25.8 percent from the... [Includes three charts]