New production of structured mortgage securities backed by agency pass-throughs fell sharply in the third quarter, according to a new ranking and analysis by Inside MBS & ABS. A total of $62.52 billion of agency-backed CMOs and REMICs were issued during the third quarter of this year, down 27.4 percent from the second quarter. That brought year-to-date issuance to $214.53 billion, a 4.2 percent drop from the same period in 2005...[Includes one chart and graph]