A marked slowdown in credit card securitization played a key role in a significant downturn in new production of non-mortgage ABS during the first quarter of 2005, according to a new market analysis and ranking by Inside MBS & ABS. Only $7.90 billion of credit card deals were issued in the first three months of the new year, the lowest quarterly production level since the fourth quarter of 1999. Card ABS volume dropped 50 percent…